Ever Plan a Sale and No One Knew What To Do?
Posted by Billy at 10/6/2009 7:15 PM 
Categories: Sales
Tags: Consignor Horse Racing Keeneland Yearling September Public Auction
Categories: Sales
Tags: Consignor Horse Racing Keeneland Yearling September Public Auction
I toyed with not even doing a blog after the Keeneland September Yearling Sale ended. I have such a hard time fitting in the blog fun during this time of year as it is.
If you don't know what I do - then I'll tell you. If you do know - skip ahead - wait don't do that. Just read along - you might learn something and maybe you'll need my service to help you a little bit. Anyway - I put together books of information for consignors at public auction (Thoroughbreds) - that allow them to answer the questions of potential buyers and as well as assist in marketing and pricing the individuals they are selling. So there's that - I am busiest in September and November so I disappear a bit.
Back to business.
We all knew that September would be tough - no one really knew HOW tough. I mean - how could you right? People said that the July sale would gage how the rest of the year would go. But July at Fasig-Tipton is not Keeneland September. It's changing - yes - but seriously you have completely different quality as well as - 2 days compared to 400 (I exaggerate there but if you've ever worked the September Sale - it basically feels similar to 400 days).
So the sale ended down more than 40% from last year - that's drastic. Why? Well there's that whole economy thing going on here in the US (and around the world). That's the main deal - flat out - people aren't investing in us when their investments aren't cutting it for them elsewhere. People with tons of money - lost/are losing more than say ME or you. That's not to say I'm doing good (in case there are gold diggers out there with low expectations - also NOT available) but I don't have a lot of money tied up in pretend ideas or banks or anything like that so people like me don't cry as loud.
With that we have a market that has a lot of people running scared. Before you get to thinking that it's all gloom and doom - my clients did well enough at the sales. No BIG slam dunks - but they sold - and stayed ahead of the game. I'd like to take credit - but I'm not (just before anyone thinks I'm thinking it's because of me). I saw the results of several consignments (not just mine) that did quite well - all things considered. Some did well - without having to make considerations.
So how will this all affect the industry? I'm not sure but IMHO it's going to weed out those people that came to Kentucky with only $$ in their eyes. Not that there's anything wrong with that - because if you don't like money - then you've probably never had any or you probably consider yourself above trying to make money. I consider you a liar or lazy btw. Because if you don't want to make money because you think it's evil or only the MAN makes money - you're just telling me that you're too lazy to actually work. You could easily strive to make money and do some good with it.
I've gone off topic.
There are a lot of people that only were enticed to the industry because of money and a little love for the horse. I don't believe everyone has to be obsessed and passionate about it that works in it. However I do believe if you are in a position that affects other peoples horses, and investments in those horses - it might have been good for you to have some experience with horses. You get more sense of how it all works from a different level.
This glitch in time will eventually pass (we've seen it before) and it will cause some farms to go under and some people to seek another line of employment. Sadly - too many - people I know that truly want to be here because it's their passion are already planning a departure.
A shame.
One last comment: we will should see changes in the stud fee range. Maybe now (and maybe not) stud fees will be set more realistically and based on the sire's results on the track not in the sales ring.
If you don't know what I do - then I'll tell you. If you do know - skip ahead - wait don't do that. Just read along - you might learn something and maybe you'll need my service to help you a little bit. Anyway - I put together books of information for consignors at public auction (Thoroughbreds) - that allow them to answer the questions of potential buyers and as well as assist in marketing and pricing the individuals they are selling. So there's that - I am busiest in September and November so I disappear a bit.
Back to business.
We all knew that September would be tough - no one really knew HOW tough. I mean - how could you right? People said that the July sale would gage how the rest of the year would go. But July at Fasig-Tipton is not Keeneland September. It's changing - yes - but seriously you have completely different quality as well as - 2 days compared to 400 (I exaggerate there but if you've ever worked the September Sale - it basically feels similar to 400 days).
So the sale ended down more than 40% from last year - that's drastic. Why? Well there's that whole economy thing going on here in the US (and around the world). That's the main deal - flat out - people aren't investing in us when their investments aren't cutting it for them elsewhere. People with tons of money - lost/are losing more than say ME or you. That's not to say I'm doing good (in case there are gold diggers out there with low expectations - also NOT available) but I don't have a lot of money tied up in pretend ideas or banks or anything like that so people like me don't cry as loud.
With that we have a market that has a lot of people running scared. Before you get to thinking that it's all gloom and doom - my clients did well enough at the sales. No BIG slam dunks - but they sold - and stayed ahead of the game. I'd like to take credit - but I'm not (just before anyone thinks I'm thinking it's because of me). I saw the results of several consignments (not just mine) that did quite well - all things considered. Some did well - without having to make considerations.
So how will this all affect the industry? I'm not sure but IMHO it's going to weed out those people that came to Kentucky with only $$ in their eyes. Not that there's anything wrong with that - because if you don't like money - then you've probably never had any or you probably consider yourself above trying to make money. I consider you a liar or lazy btw. Because if you don't want to make money because you think it's evil or only the MAN makes money - you're just telling me that you're too lazy to actually work. You could easily strive to make money and do some good with it.
I've gone off topic.
There are a lot of people that only were enticed to the industry because of money and a little love for the horse. I don't believe everyone has to be obsessed and passionate about it that works in it. However I do believe if you are in a position that affects other peoples horses, and investments in those horses - it might have been good for you to have some experience with horses. You get more sense of how it all works from a different level.
This glitch in time will eventually pass (we've seen it before) and it will cause some farms to go under and some people to seek another line of employment. Sadly - too many - people I know that truly want to be here because it's their passion are already planning a departure.
A shame.
One last comment: we will should see changes in the stud fee range. Maybe now (and maybe not) stud fees will be set more realistically and based on the sire's results on the track not in the sales ring.
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