So far, the numbers from the Keeneland September Yearling Sale for thoroughbreds have been down sharply compared to years past
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Outlined in an article on keeneland.com, Keeneland sold 115 horses on Tuesday, September 15 for gross sales of $33,807,000, down 41.01 per cent from the corresponding session in 2008 when 146 horses brought $57,310,000. Average price for the session was $293,974, down 25.11 per cent from last year’s $392,534. Median price decreased 16.67 per cent from $300,000 to $250,000.
Noting that the numbers reflect the current state of the global economy, Keeneland director of sales Geoffrey Russell opted to look at the positive side of the negative numbers.
“On the positive side, the results of these sessions may show the industry to be affordable, and encourage people to buy horses,” Russell said. “These prices, coupled with the benefits to horse owners under the new economic stimulus bill, may be the push some need to get involved in the industry.”
Cumulative gross sales for the first two days of the sale were $58,756,000, down 48.17 per cent from last year’s $113,357,000. Average was down 29.96 per cent from $377,857 to $264,667, while the median price of $215,000 declined 28.33 per cent from the $300,000 posted in 2008.
To view the keeneland.com article in its entirety, click here.
(With files from keeneland.com)