Keeneland November first session in decline
A LESS stellar catalogue and the faltering world economy were blamed by the Keeneland executive after the opening session of the November breeding stock sale concluded with across-the-board downturns compared to the same day's trading in 2007.
Total receipts for Monday were $48,021,000, more than half of last year’s single session record of $109,064,000. The average of $322,289 decreased 42.7 percent from $562,186 in 2007, while the median was down 32 percent from $272,000 to $185,000.
A total of 149 horses were sold this year compared to 194 in 2007. Eleven horses brought $1 million or more, compared to last year’s 28 – which was another record for a single session.
“Last November opened with an historical and record-breaking session during which we sold 28 million-dollar horses versus 11 this year, including a $10.5 million broodmare; that’s a huge difference,” said Keeneland's director of sales, Geoffrey Russell.
“Whether the difference is owed to the economy or to the catalogue – it’s probably a factor of both. But this is a marketplace where people come to trade horses, and we will successfully trade horses over the next two weeks; though probably not at the level we did last year.”