The market for even well-bred Thoroughbreds has suffered substantially since the global market crash of 2008.
“The old million-dollar horse is now a $500,000 horse,” said Geoffrey Russell, Director of Sales at Keeneland.
In the first session of the September Yearling Sales this year, the two highest selling colts went off at $1.4 and $1.2 million. On the second night, a filly went for one million dollars and another for $750,000.
After two days of sales, the gross and the median prices for 2011 compared to 2010 were substantially the same, but the third session ended better, showing a twenty percent increase over last year.
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Posted September 14, 2011