AMERICAN GRADED STAKES STANDINGS brought to you by Keeneland: EVERY DAY IS BLACK FRIDAY
By Ray Paulick
In honor of Black Friday, that “holiday” all men love to hate, we’re going to take a quick look at the year’s best bargains from among the ranks of 2009 American Graded Stakes winners. There are no American horse sales tomorrow, but perhaps this list of underpriced gems will inspire some of you to get up at 4 a.m. and drive to your local Wal-Mart in search of a flat-screen television for less $200.
First, some perspective. There have been 137 American Graded Stakes winners of 2009 sold at public auction as yearlings for an average price of $199,319 and a median of $105,000. That’s well above this year’s average price ($48,094) and median ($10,000) for yearlings sold, according to statistics from bloodhorse.com
Forty-five American Graded Stakes winners of 2009 sold as 2-year-olds. Their average price was $398,681 and their median was $170,000. Again, that’s well above the average ($48,797) and median ($20,000) for all 2-year-olds sold at public auction this year. (Pinhooked horses are counted in both categories.)
Of the 137 American Graded Stakes winners of 2009 that sold as yearlings, 43 of them sold for $50,000 or less—nearly one-third. That’s pretty good value!
Of the 45 American Graded Stakes winners of 2009 that sold as 2-year-olds, just 8 sold for $50,000 or less.
One of those bargains is Haynesfield, whose victory last weekend in the Grade 3 Discovery Handicap at Aqueduct was his first AGS win. Haynesfield was picked up for just $20,000 at the 2008 Keeneland April 2-year-olds in training sale. It was a good deal for his owners, but perhaps not for his seller; the Speightstown colt brought $100,000 at the previous year’s Keeneland September yearling sale.
The other top five 2-year-old sale bargains are G2 Distaff Handicap winner Secret Gypsy, $10,000; G1 Champagne winner Homeboykris, $11,000; G3 William Donald Schaefer Stakes winner No Advantage, $20,000; and G2 Razorback Stakes winner Let It Rock, $24,000. Like Haynesfield, Homeboykris sold for more as a yearling ($50,000) than he did as a 2-year-old, as did No Advantage ($35,000). There’s no telling why they brought less as juveniles than as yearlings, but I would bet dollars for donuts (and I love donuts) that veterinarians had something to do with it.
The blue-light special from the yearling sales among 2009 AGS winners is G3 Berkeley Handicap winner Autism Awareness, who sold for the bargain basement price of $1,000 at the CTBA’s Northern California sale. While it’s great value for the buyer, it’s a mixed blessing for the California commercial yearling market, or what there is left of it.
The other four steals were G3 Turnback the Alarm Stakes winner Unbridled Belle, $4,000; G3 Bowling Green Handicap winner Grand Couturier, $6,285; G2 Las Palmas Handicap winner Tuscan Evening, $8,823; and the $9,500 purchase Mine That Bird, winner of the G1 Kentucky Derby (though not for his original owners, who sold him privately for $400,000 late in his 2-year-old season.
There really are some deals out there, and when it comes to horses you don’t have to get up at 4 a.m. and fight the maddening crowds.
Tags: American Graded Stakes Standings, aqueduct, Autism Awareness, Berkeley Handicap, bloodhorse.com, Bowling Green Handicap, ctba, Discovery Handicap, Distaff Handicap, grand couturier, Haynesfield, Homeboykris, Keeneland, kentucky derby, Las Palmas Handicap, Let It Rock, mine that bird, No Advantage, Paulick Report, Ray Paulick, Razorback Stakes, Secret Gypsy, Turnback the Alarm Stakes, Tuscan Evening, unbridled belle, wal-mart, William Donal Schaefer
November 26th, 2009 at 2:22 pm
I would hasten to add hip no. 703, a filly by Street Cry who sold at the September 2005 sale for only $60k or twice Street Cry’s, (conception year) stud fee. While the consignors didn’t hit one out of the park, they probably felt good getting that kind of money for a filly described by many as “too big”. The ROI isn’t as dramatic as some of the other bargains you mention but I don’t think Mr. and Mrs. Moss are complaining about Zenyatta’s price one bit.
November 26th, 2009 at 4:01 pm
Do the statistics suggest what our business lacks are those with “an eye for a horse”?
If buyers would get their eyes (and those of their ‘advisers’ ) off the page and look instead at the horse, they would make better purchases.
I’m darned if I can see any reason why Veterinarians can be blamed when a horse drops in MARKET value from one sale to the next
.
Ray, I’ll lay you 100 donuts (you get to pick them) to your hundred U.S dollars, you cannot substantiate the implication.
November 26th, 2009 at 4:32 pm
“Of the 137 American Graded Stakes winners of 2009 that sold as yearlings, 43 of them sold for $50,000 or less—nearly one-third. That’s pretty good value!”
Uh, no. A meaningless statistic. Most yearlings that sell at public auction sell for less than $50,000.
If you want to show how the true value of yearlings that sold for less than $50,000 (or those above as well), you would give the percentage of those yearlings whose earnings (including purses as well as all other income such as stud fees) exceeded the sum of their purchase price and their total costs to keep throughout their lives (which admittedly is much harder to calculate that your statistic). Those who cost more to keep than they bring in are not good values economically regardless of how many won Graded Stakes. Of course, the intangible joy to the owner of having and racing a horse has some value over and above the economic value.
November 26th, 2009 at 6:31 pm
I appreciate the price angle.
Also appreciated: Haynesfield as possibly the worst Derby Future Pool entry in the 2000s.