One big thing thats wrong with racing.

[Robert Goren]

http://www.bloodhorse.com/horse-racing/articles/60694/keeneland-january-sale-kicks-off-with-a-bang?source=rss
Sales prices of all age horses are up over 60% at Keenland. At the same time horse people are saying that purses aren't high enough and they are losing money. Something doesn't add up.

[illinoisbred]

Mr. Yoshida spent alot of money there yesterday. Broodmare prospects mostly,and off to Japan they'll go.

[MPRanger]

I think of the sales in Lexington whether Keeneland or Fastig Tipton as being for the elite owners and breeders. These people are playing the triple crown and Breeders Cup game. Also, rich foreign buyers help pad prices. Generally, purses get higher and higher for them.

The horsemen at the bottom are the ones getting squeezed on prices. Not just them, tracks that don't have slots are getting squeezed by the ones who do. So if you are a small time owner/trainer racing at Sam Houston where there are no slots to stiffen the purses with, you know you aren't gonna get paid much.

It makes for a dismal product for customers. But it also creates a bottom tier in the market for owners/trainers. They can't win anywhere else except amongst their own pathetic kind. Even if they complain about the purses, the last thing they want to see is for them to go up enough to attract shippers they can't compete with.

[FenceBored]

Median was unchanged at $20k and buybacks were up 17% from last January. Looks more like a few high priced individuals than a general trend to me.

Illinoisbred makes a good point, 3 of the top 5 prices were paid by Japanese breeders. And the story on Negligee at the Bloodhorse includes this comment:
At the moment, the plan is she’ll stay here (in the United States).
-- http://www.bloodhorse.com/horse-racing/articles/60684/negligee-sells-for-625000-at-keeneland#ixzz1Ajg3JKsf
That would seem to indicate that the unnamed buyer for whom Hunter Valley Farm was the agent is also foreign, which would make 4 of the top 5 foreign purchasers. Hardly indicates the domestic market is springing back.

[InsideThePylons-MW]

The entire breeding industry and press reporting these results are morons. Geoff Russell seems to know that as he is trying to stop them from being the fools that they are.

Last year day 1 they sold a couple of Mercedes and the rest Chevys + Hyundais.

This year they sold a Rolls Royce, a couple Bentleys, a few Mercedes and the rest Chevys + Hyundais.

How the hell can anybody with one ounce of common sense compare the 2 sales on a numbers basis? The only thing that matters a little bit is MEDIAN which was unchanged.

The quality of stock this year is better because the industry bloodbath has caused owners/breeders to be forced into selling quality stock they would have never sold in previous years.

If Zenyatta would have sold for $10 million today, the industry morons would have been throwing a party celebrating the end of the downturn while singing happy days are here again because the avg and gross each would have been up over 200% from last year even though the median was the same and buy backs were up.

These articles and analysis almost have to be a joke or propaganda....don't they?