larrygene wrote:SJ had 5 yearlings sell for $350K up to $600K KEESEP sale. I understand some sold for less than stud fee but still not bad for first crop with a $100K stud fee. IMO
Also, Maven I don't think they are having a sale today.
Larrygene
The real story with Smarty Jones isn't just what sold it's also about what DIDN'T sell - He's had 13 of his SEPT yearlings RNA for less than his stud fee in addition to 9 who sold at or below his stud fee so far. Then he still has six more to sell in Book 3, and two to sell in Book 4, and you would expect those Book 3 and Book 4 yearlings over all to drag down his average a bit. So compare these 22 unhappy campers to about 12 commercial breeders who made out alright at this sale. And my guess would be the majority of the next 8 to sell will fall into the unhappy camper category as well. The people who really got spanked were people who either tried to pinhook Smarty weanlings to the SEPT yearling sale or people who bought back their weanlings thinking they'd do better at the SEPT yearling sale. The rundown on these weanlings offered again as yearlings at KEE Sept is ugly:
$425,000 weanling RNA = $45,000 yearling RNA
$170,000 weanling = $70,000 yearling RNA
$250,000 weanling = $235,000 yearling RNA
$165,000 weanling RNA = $70,000 yearling RNA
$110,000 weanling RNA = $25,000 yearling RNA
$350,000 weanling = $350,000 yearling RNA
Now at the FT Saratoga sale there was a big win for Smarty with a weanling who sold for $290k reselling as a yearling for $650k, but when you balance that one with these September disasters I don't think the market for Smarty weanlings in November is going to be too hot.
Now if you're a gambler, and a big Smarty believer, you've got a great opportunity to maybe pick up a Smarty weanling in November (or a short yearling in January) for half his stud fee and by the time you send it back through the Keeneland September sale Smarty's first crop will be running, and if they are winning at that time in addition to running, you could be in for a handsome payday.
You'd like to think that people with Smarty's wouldn't want to unload them for half the stud fee in November or January, and would instead just plan on racing them, but there are going to be plenty of people wanting to cut their losses who'll let 'em go so they can plow whatever they get into another new stallion next year hoping that they'll catch the next big thing NEXT year.
