August 30, 2010

Dear Valued Client:

As September Keeneland approaches and we look back at the first yearling sales of the season at Fasig-Tipton July and Saratoga as well as the OBS sale, the lessons learned seemed to be of continued caution and prudence while buying. People still want to buy racing stock, and they just are choosing to do it without losing sight of the value they’ve placed on a specific animal. The numbers at the recent OBS August yearling sale where up across the board, which bodes well for the upcoming September sale.
Established sires are definitely enjoying a resurgence in fashion and young unproven sires will have to bide their time before they perform as well in the commercial marketplace. Examples abound of horses that were for all intents and purposes “written off” so to speak. Mineshaft is having his best year ever and with examples like that as well as, Lemon Drop Kid etc., the buying public seems to be keeping that in mind as they shift through the yearlings offered at a respective sale.
With fewer people breeding mares and foal numbers declining to more reasonable levels, we can all hope that those of us who weathered the storms of the past couple of years will be rewarded for careful management of our mares and yearlings. A prudent and well thought out business plan with reasonable expectations at public auction should carry the day.
Here’s to a good “fall sale” season as we hit the ground running!

Sincerely,

Kitty Taylor