Falls at Ocala's mixed sale on first day
ON a day when the world experienced the record falls in the worldwide stock market and continuing economic freefall, the first dayof the Ocala Breeders' Sales Co. fall mixed sale yesterday also registered big declines in aggregate, average and median, with horses selling at a clearance rate of just 47 per cent.
The session saw 108 horses sold (231 offered) for an aggregate of $1,979,600 at an average of $18,330 and a median of $12,000. Compared with last year, the average was down by 31 per cent and the median by 40 per cent. Last year's consignor-preferred section, which formed two sessions instead of this year's one, saw 256 horses sold for $6,848,700.
"It's not just today, it's been the last month," said Tom Ventura, OBS director of sales and general manager to the Thoroughbred Times. "All the negative news from the financial sector, it has a psychological effect. It certainly was a tough day, and the results were impacted by the wild fluctuations we are having on Wall Street, and the uncertain financial situation we all are in.
"Looking at some of the higher-pricedhorses, it seemed to be the common theme: among the weanlings, there were quality individuals who had sire power to go with it. Those who are buying weanlings are going to be selling them as yearlings or two-year-olds, but the majority of people that arebuying mares may have little confidence in projecting the future."
The sales topper was a yearling daughter of Exchange Rate who fetched $105,000. She was bought by Ben McElroy and sold by Horse of Course Inc. The filly was the only lot to break into six figures - the next best was a Rockport Harbour filly who made $80,000.
The sale continues today with the first of two Open sessions.