The right product always sells well. Always has, always will. And that's the high end of the market, which was strong. If you want to see good sale or bad, just look at each session compared to the past. Session 1 was strong. This year's first session gross was down a bit from last year, but last year was the best of all time. The average was down a bit more than last year, which was also the best ever. The median was about the same, but was down substantially from the record which was the year before last. If you want to really see where the market is, don't just look at the gross, and understand that even the average can be distorted. Look at the median (relative to the #'s sold).
The high end was strong, and yes, the OBBBA has a very positive impact. If you don't think so, you didn't sign any tickets at the sale, nor did you talk to anyone who did. Now look at the last session. Down big time. Numbers were way off. The gross was down about 25%, the average about 20%, and the median was down 10%, which is very substantial. The median price was.....$18,000. Who is making money selling a yearling for $18,000. Nobody! A lot of new consigners showed up this year, and they did well, some very well.....at the high end of the market. The bottom will fall out. Nobody can make money there. There may be a market for those horses, but nobody can make money selling them.
