This afternoon, Trot Insider spoke with Garden State Horse Sales Company general manager Dale Welk about yesterday's New Jersey Classic Yearling Sale. Welk had some very frank things to say.
"It was a tremendous crowd and in that respect everything went well," he said.
Numbers were down in virtually every category in comparison to the 2007 edition -- something which is turning into an industry trend. The only category which didn't see any change was the median, which held at $6,000.
Welk took the opportunity to comment on what could be called a new trend of polarization exhibited at recent yearling sales.
"The upper-middle has gone to the high-end and the bottom is really now the bottom," said Welk. "At sales, people have always said that they are looking for quality -- they are now showing that. Sales are really starting to reflect the state of the economy."
In the 2007 edition of the sale 227 yearlings were sold for a gross of $2,237,300 with an average of $9,856. Yesterday's numbers saw 208 yearlings sold for a gross of $1,638,000, resulting in an average of $7,875 -- an almost $2,000 drop.
"Before, buyers would overlook some things, but they now demand the best," said Welk. "They demand the best on the papers, in conformation, everything."
Jimmie Hanover, a son of Art Major out of Jates Joanna, topped this afternoon's sale thanks to a $38,000 final bid made by agent Ray Remmen of Jerrico, New York.
Click here to view the sales results.