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Decline of 25 percent through two sessions

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November 04, 2008

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The world�s economic woes didn�t go away overnight, and the second session of the Standardbred Horse Sales annual November auction continued to lag behind both the 2007 and 2006 sale, and after the second session on Tuesday a total of 731 horses had been sold for an average price of $36,493, which is a 25 percent decline from last year�s average of $49,091 for the first two sessions. This year�s average for the first two sessions dropped about 18 percent from the 2006 results.

The crowd was light, just like on Monday, and shoppers were once again conservative with their money. There were spurts in the momentum at Tuesday�s sale, but overall the trend of declines continued. Both consignors and shoppers blamed the downturn on the economy, although a few breeders also reminded that there is an oversupply of yearlings.

The second session saw 364 horses sold for $10.5 million. The average was $28,846, down from the $36,187 average of 2007.

The sale got underway on Monday and posted a 30 percent decline in average, dropping from $62,361 in �08 to $44,039. In 2006 the opening session generated an average price of $54,178.

The economic turmoil around the world has also affected the Thoroughbred market. The annual Keeneland November Sale opened on Monday and saw its gross decline by 56 percent while the average price for a horse dropped by 42.7 percent.

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