October 10, 2021
Wowza! Lexington sale crushes it with records galore
The Lexington Selected Yearling Sale concluded Saturday with records for gross, average, median and number of six-figure yearlings sold — and topped the previous best gross by more than $10 million. In all, the sale set 18 sales records, including surpassing $5 million for the first time in a final session.
From HarnessRacingUpdate.com - quotes by James Platz / story by Dave Briggs
The 2021 Lexington Selected Yearling Sale concluded Saturday night (Oct. 9) setting 18 records, including new standards for gross ($56,692,500), average ($65,692), median ($44,000) and number of yearlings sold for $100,000 or more (159).
The gross exceeded the previous record ($46,480,000 in 2019) by some $10 million or 22 per cent.
Each of the five sessions set a new record for gross sales.
The sale also set the following records:
- First session gross: $18,540,000
- First session average: $161,217
- First session 100,000+: 69
- Second session gross: $17,927,000
- Second session average: $84,164
- Second session 100,000+: 61
- Third session gross: $10,169,000
- Third session 100,000+: 20
- Fourth session gross: $4,771,000
- Fourth session average: $28,915
- Fifth session gross: $5,285,500
- Fifth session average: $35,713
- Fifth session 100,000+: 7
- Fifth session median: $28,500
“I think everybody used the word, ‘Wow’ so I’ll just piggyback on that,” said Diamond Creek owner Adam Bowden. “I think the market is good, the amount of money to race for is good, the stallions are good, the pedigrees were good and the physicals matched and people were happy to pay money for the good ones.”
Randy Manages, who manages the sale with David Reid, was philosophical about the results.
“This is my 29th sale. Of course, when I came to work here it was Kentucky Standardbred. When we merged the two sale companies, several years ago, I think that really helped everybody,” Manges said. “Obviously, we have some great farms in this area and that’s helped. Our breeders, they have always improved their broodmare bands, which helps us. I’m a big believer that the consignors have built the sale over the years. It’s probably been the last five years that it’s just progressed. When good things happen in the industry, it just seems to help us. We’ve really grown. We have a great group of people that come to the sale and participate in the sale. The last couple of years with COVID and everything, you would think that would hurt us, but with online bidding it was a big savior last year and it really stepped up this year also.”
Saturday’s session, which was made up of mostly Indiana, Ohio and Kentucky-breds, saw 148 yearlings sell for a total gross of $5,285,500 for an average of $35,713 and a median of $28,500. Seven yearlings reached $100,000 or more.
“It was very strong from top to bottom,” Manges said. “In fact, I was hoping we would progress the way it progressed and it worked out for us. There were a lot of guys that came in for our last two days and stayed. We had a good crowd right up until the last horse sold tonight, which is a very positive thing for the industry. I think it will carry through for the rest of the year. I think Harrisburg will have a good sale and some of the regional sales that have not taken place yet will feed off the good sale we’ve had. We seem to feed off – when all the sales are good, we seem to do even better.
“The Ohio Jug sale was good, the Goshen sale was good, the Canadian sale was good and they’ve got a virtual sale in Canada in a couple of weeks and I anticipate it will be good. I’m just happy for the industry. It’s a positive for the industry.”
Reid said he was delighted with the results.
“We averaged $35,000 tonight. That’s a record for the last night of the sale. It was up 20 per cent on the average from last year and 50 per cent over two years ago,” Reid said. “It’s just a phenomenal way to end the night.”
Manges added, “The one good thing about this sale, in particular, is that the breeders have great mares and when they get bred to those kind of horses that are in high demand then you see these high prices.”
DOWNBYTHESEASIDE COLT TOPS SESSION
The session topper was Hip 757 Country Line Cred, a Downbytheseaside colt out of Tookaloo Hanover purchased for $230,000 by Diamond Creek Farm from Reid’s Preferred Equine consignment.
“For us, he was the best colt in the sale and we’ve made so much money with Seaside so far that we wanted to come here and buy what we thought was the best one. I’m happy to do that,” said Bowden.
Reid said the colt was bred and raised by Dr. Steve Dey from Heritage Farms in New Jersey.
“They’ve been around a long time. They sold a Downbytheseaside down here last year quite well. They are a small, boutique type of breeder. We brought three or four yearlings down here to pick the big spots and I’m very happy for their success. To see them come down here and maybe take a chance on my suggestion, then to sell the sales topper is awesome.”
Diamond Creek stands Downbytheseaside in Ohio at Sugar Valley Farm. Bowden said the success of the stallion at this year’s sale was expected.
“I don’t want to be cocky, but it was sort of expected that they were going to do well. Sea Silk winning last week, Pebble Beach, the sale in Ohio… I’m just thrilled. The horse has done it all and we’re riding the wave,” Bowden said.
Twenty-three Downbytheseasides were sold Saturday, grossing $1,789,000 for an average of $77,783.
“The top seven yearlings sold tonight were Downbytheseasides and they were all over $100,000. I just think that it’s great to see a young sire get off to a start like that,” Reid said.
Hunterton’s Steve Stewart said it was the right decision to sell all the Downbytheseasides on the final night.
“They wrote about whether they should have the Seasides sell earlier and absolutely not. You had Hannelore Hanover’s full-sister (sell earlier) and that’s fine. But I think the crowd was bigger tonight than it’s been all week almost. It’s a different crowd, which is important, but I don’t think there was hardly any of them that we were disappointed in all the way through. It was very rewarding,” Stewart said.
BURKE TOPS SATURDAY BUYERS
Ron Burke led all buyers on Saturday, spending $652,000 to buy nine yearlings, including three of the seven that sold for $100,000 or more — Hip 854 Boardwalk Jack, a Downbytheseaside colt out of Restive Hanover for $130,000 from Winbak; Hip 808 Act Fast, a Downbytheseaside colt out Act Like A Diva for $125,000 from All American and Hip 761 Queen Of The South, a Downbytheseaside filly out of Vaquera Deo for $100,000 from Preferred Equine.
Burke said the attraction was the Ohio program.
“We didn’t get enough bought at the previous sale and we need a strong bunch to race as much as we like to race in Ohio, so it’s good for us to only ship a couple of hours a day to either of our farms. We’ve got the best young driver there and Chris (Page) does a great job educating them… it’s really been successful, so there was no way we weren’t going back,” Burke said.
As for Downbytheseaside in particular, Burke said having one race on the Grand Circuit is possible, “but the biggest thing is that we want to race in Ohio. The program is great and it’s set up that there’s plenty of races between the Sires Stakes, the state fair, the breeder’s championship… there’s plenty and you don’t need to worry about racing anywhere else.”
LUTHER’S MILLION-DOLLAR EXPERIMENT EXPANDS
Keeping it in Ohio, HRU also checked in with owner Greg Luther who last year launched his “million dollar experiment.” Luther said the experiment continues, but will be a little different in 2022.
“We had a great year so far this year, still some big races coming up. We’ve brought in a little over $2 million in purses, so that’s been fun and we’ve won some big races,” Luther said. “Obviously, Catch The Fire has been the star so we’ve had fun there and we’re starting to get into the breeding business as well. We’re buying a bunch of babies and I’ve got pretty close to 30 2-year-olds so far. The Harrisburg sale is still coming up and I’ll buy a bunch of broodmares, too, that we can breed to Catch The Fire.
“We’re Ohio, born and bred, ourselves so we’re trying to get as many Ohio-breds as we can… and, heck, they are starting to take the big stage, too. They are winning some Grand Circuit races.”
Overall, Luther said he’s purchased horses from Indiana, Ohio, Kentucky, Pennsylvania, New Jersey and New York, “so I better buy some more trucks and trailers.
“It’s been a lot of fun and obviously we’re going in pretty big. We’ve probably put another $2 million in so far this year, trying to hit the big time.
“I’m just trying to convince everyone to keep building barns for us, so we have enough space to store these things – I’m at 70 head now. I own 69-and-a-half of those. I only have half of Catch The Fire. That horse, he’s got so much fight in him and I’m hoping that goes on to his babies as well. So, we’re really going to go big on breeding him.”
PREFERRED LEADS CONSIGNORS
Reid’s Preferred Equine led all consignors with $8,128,000 in sales for 134 yearlings sold. In 2019, Preferred set a personal record for gross sales with $9,731,000 for 137 yearlings sold.
This year, Preferred was followed by Hunterton ($7,863,000 for 97 yearlings), Kentuckiana ($6,668,000 for 101 yearlings) and Diamond Creek ($3,610,000 for 47 yearlings).
“For Preferred Equine, I think we’re the leading consignor again, but that’s just a number,” Reid said. “The service to our clients and the service to the industry. We pride ourselves on making a professional presentation and hope it pays dividends for everybody. We hope our customers are satisfied and, more importantly, we appreciate their trust in us to sell their horses for them.”
Stewart said, “Hunterton Farm and our partners are being rewarded for us believing in the business for the last 10 years. When people were seeing Perretti going out of business and Yankeeland going out of business and so many others… Armstrong Brothers. A lot of people thought, ‘Oh, boy, those people must know something.’
“I always say that the breeder takes the biggest risk of anybody, because what we do now, we get paid three years from now. You’re really projecting success. It’s like the wine business where you’re projecting future profits. The people buying horses might get money back in nine months and that’s a big difference.”
Concord Stud led all consignors in average with $186,429 for seven sold. Hanover Shoe Farms was second in average ($155,100 for 20 yearlings sold), followed by Brittany Farms LLC ($115,542 for 24 sold).
TAKTER TOPS BUYERS, ALAGNA SECOND
Nancy Takter was the top buyer with $2,907,000 spent, in total, on 12 yearlings. Tony Alagna was second with $2,725,000 spent on 26 yearlings, followed by Steve Heimbecker ($2,342,000 on 19 yearlings) and Burke Racing Stable ($2,019,000 on 24 yearlings).
WALNER IS KING
Walner led all stallions in gross sales ($7,718,000) and average ($160,792) with three or more sold. The leading pacer by money and average was Captaintreacherous ($6,652,000 and $133,040).
Canadians accounted for $9,437,500 in sales or 16.6 per cent of the total. Europeans purchased $1,645,000 worth of yearlings or 2.9 per cent of the total, with Sweden strongly leading the way ($1,230,000).
“Now, as we always conclude, we just want these horses to go on and perform on the racetrack,” Reid said. “The Lexington sale has done that year after year. They give you Classic winners, Triple Crown winners, Hambletonian winners, Breeders Crown winners. We pride ourselves in selling winners and that’s basically the success of our sale.”
October 10, 2020
Lexington sale posts second highest gross in its history
Despite being staged during a pandemic, the Lexington Selected Yearling Sale concluded Friday with a gross of $41,552,000, just the second time it has surpassed $40 million in its history.
From HarnessRacingUpdate.com - quotes by James Platz / story by Dave Briggs
The 2020 Lexington Selected Yearling Sale concluded Friday night (Oct.9) with the second highest gross and fourth best average in its history, despite being conducted during a pandemic. The strong final totals were propelled by the most successful final night in the sale's history based on every category.
Friday's session, which was made up of mostly Indiana, Ohio and Kentucky-breds, saw 168 yearlings sell for a total gross of $4,943,000 for an average of $29,423 and a median of $20,000. Six yearlings reached $100,000 or more.
"Tonight, it was just a whole different feel," said Spring Haven's Senena Esty. "The vibe, the excitement... You know, us Ohio people, we get excited. There was a lot of people and the whoopin' and hollerin', I haven't seen that down here in ages. I thought it was fantastic."
Through five nights, 816 yearlings were sold, grossing $41,552,000 for an average of $50,922. The median was $32,000 and 107 yearlings sold for $100,000 or more. Only the gross in 2019 ($46,480,000) washigher. Only the averages in 2019 ($60,997), 2017($58,537) and 2018 ($56,652) were higher.
The 2019 sale set records for gross and average. About the only stat that was down in 2019 was the number of yearlings sold for $100,000 or more (121 in 2019 compared to 124 in 2018).
The 2019 sale will be best remembered for its off-the-charts opening session in which not one, but two, yearlings sold for $1 million or more. The full-brother to Greenshoe sold for $1.1 million and the full-brother to Propulsion sold for $1 million.
The 2020 sale will be remembered for triumphing over a number of major challenges,the biggest one being a global pandemic.
"I'm thrilled," said Randy Manges, who manages the sale with David Reid. "We averaged $56,000 last year and $50,000 this year. We could've averaged $50,000 without COVID-19, so I'm very pleased with the sale and really pleased with tonight."
"The crowd was good,too. To me, that was so good to see. You walked out there and there was a buzz, especially after one would bring $100,000. We had the Steve Elliotts, the Brian Browns, of course, they buy a lot of the higher ones, too, but those guys being here, staying after five days of sales and being here for the last session, that's very good."
Reid said, "The energy here in the building was as good, if not better, than it was all week. We saw a lot of new faces come into town... and from Randy and my point of view to structure a session like tonight just adds appreciation for the marketplace because they delivered."
"It was just a really good night to end the week on and put the 2020 yearling sale in the books."
"To pull this off, in light of everything, I know we talked about the pandemic, but we really didn't talk about the stakes being cancelled, the purses for certain Sires Stakes programs being diminished and the racetracks being closed for a period of time... the gross dollars for purses were down significantly. That was my biggest concern coming in, personally, and how would that affect the overall marketplace. Now we've concluded the five nights, we've sold more horses this year and the gross is $41.5 million, which would be the second-highest grossing sale ever done here for us. That's really satisfying."
Esty said, "everyone was on pinsand needles" coming into the sale, "At least we were, just not knowing the protocol, if people were going to come, or if they were scared? just the whole thing with what's going on in the world, so we just felt very blessed that there was a sale, number one, and just very thankful that we were able to come here and sell our horses. We had a very good sale the first couple of nights and then not so much, here and there the next couple nights... it was kind of pick and choose. It was a bit of a roller coaster ride, to be honest, but we made up for it tonight and we're very happy."
"I think it just goes to prove that Ohio, we're finally stepping into the limelight. We're showing that we have a good, solid program. We have so many different avenues that we can race – Sires Stakes, Stallion Series, county fair races, which is the heart of it all."
The four highest-priced yearlings sold on Friday were all sired by Ohio's Downbytheseaside.
"We've been doing this regional program on the last day for about five years and it's always worked out well for us," Manges said. "We sold one for $300,000 a couple years ago and one for $200,000 tonight. We sold several for over $100,000 and always, over the last three years I think, the highest priced on the last night was either an Ohio or Indiana-bred."
The session topper was Hip #836 Sea Lionness, a Downbytheseaside filly out of Lionness Hanover purchased by Greg Luther of Ohio and consigned by Spring Haven Farm, Agent. Luther also purchased Hip #721 Noa Blu, a Downbytheseaside filly out of Catharsis, that was sold by Crawford Farms.
"She's a gorgeous filly," Luther said of Sea Lionnees. "She stands well, she's perfect conformation. Spring Haven raised her, which is one of the most respectable farms in Ohio. Gorgeous filly, she really stood out. I had my vet look at her and he looked at nine horses for me and he said 'she's the standout.'"
Esty said, "We didn't expect $200,000, but we definitely knew she was our consignment sale-topper, without a doubt. She was a beautiful, beautiful filly. Hickory Lane Farm in Findley raised her and they did a superb job."
Luther said Noa Blu's video was amazing.
"She had a really good video, looked strong. I felt that she definitely had the pedigree she needs. I thought she'd go for $50,000 or $60,000, but I was going to buy her no matter what she sold for."
At the Lexington sale, Luther spent $583,000 to buy seven yearlings.
"I'm actually doing what we call 'the million-dollar experiment,' so I'm investing a million dollars in horses, in yearlings, this year. I've been in the business for 30 years and my dream has always been to win the Little Brown Jug or Jugette, one or the other," Luther said. "My brother trains for me, Todd Luther, and we're right there in Ohio and Delaware has always been the home track."
"We've bought four or five horses for six figures this year, trying to win that big race. That's on my bucket list."
The other Downbytheseasides that were in the top four were: Hip #794 Bythemissal, a Downbytheseaside colt out of Dismissal, was purchased by Josh Green, Agent for Eric Good of Delaware out of the Preferred Equine consignment for $135,000 and Hip #730 Coastal Front, a Downbytheseaside colt out of She's Poison, was sold for $115,000 to Don Robinson, Agent, out of Winbak Farm's consignment.
"I'm really excited about Downbytheseaside," Luther said. "I'm putting a lot of faith in Downbytheseaside this year, but those horses look amazing. I'm really excited to invest back in the business and try to get into a position where we can play with the big guys."
This is the first year the sale offered online bidding through Proxibid and bids made through the online portal accounted for $2.5 million in sales for 79 sold.
"I think it was a savior for this sale, this year," Manges said. "We used it in Ohio as well – we arranged for that before we knew about COVID-19... I don't know how the thoroughbred people feel about it, but I think it was a savior for us."
Reid's Preferred Equine led all consignors with $8,153,000 in sales for 144 yearlings sold. In 2019,Preferred set a personal record for gross sales with $9,731,000 for 137 yearlings sold.
This year, Preferred was followed by Hunterton ($6,094,000 for 108 yearlings), Kentuckiana($5,999,000 for 96 yearlings) and Winbak Farm ($2,589,000 for 93 yearlings).
Concord Stud led all consignors in average with $124,357 for 14 sold. Blue Chip Farms was second in average ($73,000 for 12 yearlings sold), followed by Brittany Farms LLC ($72,611 for 18 sold).
Andy Miller was the top buyer with $2,293,000 spent, in total, on 19 yearlings. Nancy Takter was second with $1,628,000 spent on 14 yearlings, followed by Ake Svanstedt ($1,482,000 on 12 yearlings) and Burke Racing Stable ($1,163,000 on 15 yearlings).
Muscle Hill led all stallions in gross sales ($6,493,000) and average ($132,510) with three or more sold. First-crop sire Walner was second in gross ($4,852,000). The leading pacer by money and average was Captaintreacherous ($2,853,000 and $98,379).
"We've got to thank the buyers, got to thank the breeders, the men and women that travelled here and bid on horses... we just can't thank them enough and wish them nothing but the best. Hopefully, they get a champion that can be on the cover of the catalogue one day," Reid said.
October 6, 2019
Auction for the ages: Lexington sale sets new records for gross and average
The Lexington Selected Yearling Sale concluded Saturday with a gross of $46.48 million and an average of $60,997.
From HarnessRacingUpdate.com - by Dave Briggs
The 2019 Lexington Selected Yearling Sale concluded Saturday with new records for gross ($46,480,000) and average ($60,997). The median rose from $35,000 in 2018 to $40,000 this year. About the only stat that was down from the 2018 sale was the number of yearlings sold for $100,000 or more (121 this year compared to 124 last year).
Though this year's sale saw 60 more horses go through the ring than a year ago, the gross was up more than $6.7 million (16.9 per cent) from the previous record of $39,770,000 fetched in 2018. The average was up 7.7 percent from the $56,652 reached in 2018 and up 4.2 percent from the previous record average of $58,537 from the 2017 sale in which 622 yearlings grossed a total of $36,410,000.
"The average isup,so there?sabigger demand,?said Randy Manges,who manages the sale with David Reid,who added that he looksat the increase in the median asan indicator of strength in more jurisdictions.
"You're not getting an influx of Europeans or Pennsylvanians or Ontarians or New Yorkers, so it has to be a broad-based increase. I think the biggest thing all week has just been the offerings of a lot of the new sires," Reid said.
"It's a very deep group right now with the young sires, such as Captaintreacherousand Sweet Lou and Muscle Hill, Father Patrick, Trixton, and then we did very well with the foreign-bred horses, Love Yous and Ready Cash. I think it's just a mix of the depth of the sire choices. In fairness, that's a great tribute to our breeders that sell here and us to recruit them to sell at our sale, because we really believe that we're truly an international sale and we focus on that when we try to recruit."
This year's median was up from last year, but off 4.8 percent from the record of $42,000 set in 2017.
The sale will be best remembered for its off-the-charts opening session in which two yearlings sold for $1 million or more. The full-brother to Greenshoe sold for $1.1 million and the full-brother to Propulsion sold for $1 million.
"I think it's a huge achievement," Reid said of the million-dollar horses. "It definitely breaks a barrier. I think it's going to be easier to sell the next one (for a million)... Speaking on behalf of Randy and myself, we're happy that we're the ones that broke the barrier."
Adam Bowden of Diamond Creek Farm said, "it seems like we've been building to this point and the question was posed early this spring of 'Can there be a million-dollar yearling?' and I've always been bullish that if it was going to happen it was going to be this year with Greenshoe's brother and it happened to be Propulsion's full brother as well, which was great. Father Patrick and Muscle Hill (siring) the two million-dollar yearlings, I think, sort of says everything that they are the pre-eminent stallions in the sport right now. Father Patrick is right there with Muscle Hill and we couldn't be more thrilled? We were very blessed to be part of Father Patrick's group, with them allowing us to buy into the horse."
Cane Run Farm sold Propulsion's brother. Kentuckiana Farm sold Greenshoe's brother on behalf of breeders Al Libfeld and Marvin Katz.
"Marvin and Al and the whole team does an amazing job of really working together to make great animals," said Kentuckiana's Ken Jackson. "Selling a $1.1 million horse is exciting. I think it sets a threshold in our industry. Are we going to have a seven-figure horse every year from now on? Probably not, but I think it makes $500,000 a lot more possible."
Jackson credited farm manager Bob Brady for Kentuckiana's success. Asked what Brady told him he was thinking when Greenshoe's brother sold for $1.1 million, Jackson laughed.
"(Brady) said, 'I'm glad the hammer dropped.' It's that whole lead-up, you know, you start hearing it, you start talking about it and then you get them shipped in and everything and you just want to make sure that nothing happens in the stall because that can always happen; make sure that nothing happens on the lead down, so I think Bob was relieved. There's nobody that makes a better animal than Bob. He's been a great partner and he knows how to really raise a good animal and he puts a lot of time, effort and passion into it, so it's really exciting to see him get rewarded and get credit for it," Jackson said.
Kentuckiana finished third on the consignors' list in both gross sales ($7,353,000) and average ($79,065) for 93 yearlings sold.
"As a farm, it's been incredible across the board," Jackson said. "We've had good results for our clients. For ourselves, we've had good results. For the sales company, it's been an incredible year. It's exciting to be part of it... I'm bullish about Kentucky right now, thoroughbreds, standardbreds, it doesn't matter what it is, it's a great place to be for horses."
Reid's Preferred Equine set a personal record for gross sales with $9,731,000 for 137 yearlings sold. The average of $71,029 ranked Preferred fifth.
Cane Run led all consignors in average with $165,500 for 10 sold. Vieux Carre Farms was second in average ($87,217 for 23 yearlings sold).
Hunterton was second to Preferred in gross sales with $7,435,000 for 110 sold ($67,591 average).
Nancy Johansson led all buyers with a total expenditure of $1,980,000 for eight yearlings. Brixton Medical AB of Sweden was second with $1,680,000 spent on seven yearlings. Determination Stable was third with $1,520,000 spent on six yearlings.
Muscle Hill led all stallions in gross sales ($7,154,000) and average ($130,073) with three or more sold.
The leading pacer by money and average was Somebeachsomewhere ($5,360,000 and $112,763).
Saturday's session saw 129 yearlings sell for a gross of just shy of $3 million and an average of $23,016. The session gross was up 7.4 percent from the $2,765,000 fetched in 2018. The average was down 3.4 percent from the 2018 average of $23,836.
Bowden, who stands three stallions that offered their first crops of yearlings – Always B Miki, Southwind Frank and Creatine – said he's pleased with how the rookie stallions sold.
"Creatine himself exceeded expectations. He sold a filly and a colt for $60,000, which was beyond our expectations. He owns a special place in our heart, being a homebred and made $2 million dollars for us and then to see his first crop... we supported him with some good maresand so did other people. There were specific people out there that thought the same way that we did, so we were just very pleased," Bowden said.
"Southwind Frank, as well. He sold a $200,000 yearling on opening night, then had a couple others bring six figures, so he sort of belongs in that group of new stallions that people felt very strongly about. Miki had a great book of mares and the individuals matched the pedigrees. He was popular as well."
Saturday's session-topper was Taboom, an Always A Virgin colt out of Walstan's Lady sold for $97,000 to Kathy Smith of Ohio, who also purchased the third highest priced yearling sold that night – Swan For All – Love To Win filly Love for All for $93,000. Both yearlings were consigned by Anvil And Lace Farm, Agent.
Preferred Equine, Agent for Lindy Farm, purchased Swan For All – Cree filly Creedom for $95,000 from Peninsula Farm, Inc., Agent.
As to what the record-breaking sale says about the health of the industry, the experts had some theories.
"I think everybody complains about our president, but I think our president has got the economy in the right place for everybody to be happy," said Winbak Farms' Joe Thomson. "Everybody is making more money, unemployment is down, stock market is at record numbers and people stopped complaining. When I was in the service they said when the guys stopped complaining there must be something wrong with them, so I guess under that statement then maybe the world is doing okay.
"When you get the stock market or discretionary income going up then horses and other things like that will do well. When you've got it going the other way then you're in a recession and stock markets are in the tank, you're going to find people don't have the confidence to put forth the money to buy into things.
"As far as the confidence that the market can support big-time horses, we've got the people and we've got the people that are buyers that have very deep pockets and when they team up there's a lot of money that can be had to drive the top of the market. That's kind of where the thoroughbreds have been for along time. It's the top part of the market that makes all the headlines and the others slug it out just like everyone else in the horse business."
Jackson said the sale is the indication of a positive trend both for the Lexington Selected Yearling Sale and the industry itself.
"What we've been seeing in the last couple of years at the sales is going to continue to happen," Jackson said. "This is a global industry and it's no different than technology... you can reach so many people in a phone call, in a Skype. Everything is global now and it makes it easier. When you see this happen and you see a global person buying a million-dollar horse? Everything has been positive. The racing has been great. Obviously, the sales company and the partners in the sales company do a great job with all that – Randy, Dave and the team do a wonderful job – and our consignors. It's an exciting week."