Lexington Yearling Sale Live Observations

[JIDGE]

Always B Miki taking a beating too.

[hoosierboy]

Agree, but is it me or does Andy and Julie spend not do this every year?  IMO, and correct me if I’m wrong but the results are pretty light compared to what they spend

Yes I agree for why they spend the results don’t match up

[Parked]

Great example of the shrinking numbers of small to lower middle sized owners getting out.  After the “cream” things crash.  You will see the same at Harrisburg. 
Never observed as many “big name” trainers buying yearlings from $40,000 down.

Never could understand why record yearling prices were great news except for the big breeders.  The

[wizardofoz]

It is the TRAINING expenses going through the roof that are whittling down the smaller investors which is an added thought when buying a yearling.  These trainers have 8 months of basically FREE money to feed and jog a horse for top dollar monthly with basically no expectations of performance pressure on them.  Once the stakes season starts, that is when the expenses skyrocket and the attitudes of all change, and the reality of wasted money sets in, as do the excuses, in 90% of the cases!

[Stan durbread]

It is the TRAINING expenses going through the roof that are whittling down the smaller investors which is an added thought when buying a yearling.  These trainers have 8 months of basically FREE money to feed and jog a horse for top dollar monthly with basically no expectations of performance pressure on them.  Once the stakes season starts, that is when the expenses skyrocket and the attitudes of all change, and the reality of wasted money sets in, as do the excuses, in 90% of the cases!

This statement tells me you have never trained a young horse. Do you expect them to just get fit by themselves. Training fees are up on average about 15% over last 20 years. Purses on the whole are 2-3x what they were.  Some of the top stake races are down or stagnant but the sire stakes and overnight purses are way above what they were. Which in my opinion spreads the money around more.

[wizardofoz]

For those PAYING these bills the rates have changed dramatically. The standard rate per day 8 years ago was 50.00 per day.  Now the rates are anywhere from 65.00-70.00 per day. That is a 30% increase.  Stall space has seen a 50% increase over that time, as 250.00 per month was the norm. Add on the overpriced sales cost and that is why many smaller owners cannot see a path forward and can no longer be involved in buying a yearling.  3000 + per year are sold with probably half never reaching the races.  Maybe 5%-10% are quality. The sport is pricing itself out of a lot of owners.

[Open bridle]

Great example of the shrinking numbers of small to lower middle sized owners getting out.  After the “cream” things crash.  You will see the same at Harrisburg. 
Never observed as many “big name” trainers buying yearlings from $40,000 down.

Never could understand why record yearling prices were great news except for the big breeders.  The

Overall sale average of $71,566 was down 3 per cent from 2022’s record total. The small owners numbers are shrinking. Trainings bills are up due to inflation which squeezes the smaller owner. Sure purses are up but so is the competition with the breeders flooding the market which is an advantage for the big stables with the deep pocket owners who can pick and choose. No guaranteed the small owner will get any more of the higher purse pie to offset their higher training cost.
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[wizardofoz]

ALAGNA TOPPED THE BUYERS: Trainer Tony Alagna led all buyers in purchases for the second straight year. He spent $4,627,500 to take home 35 yearlings. The tandem of Bill Pollock and Andrew Harris were second with $3,550,000 spent, total, on 10 yearlings. The Andy Miller Stable was third with 15 horses purchased for a total of $2,353,000.......so 60 yearlings sold for $10.5 million.......... .how many of these will even make $50K?  Big owners with deep pockets throwing out money and thinking they all have the next big thing, when in reality, for what they spent, they were foolish.  Think of the training bills on these 60 horses that these 3 trainers will earn the next 8 months until a small percentage of them will finally race. 

[Parked]

Thats why Tony always has a smile on his face