Look for Malibu Moon to Step Up

[Cannon Shell]

Originally Posted by Rupert Pupkin

The Mailbu Moons were working great and selling for big numbers at the 2 year old sales this year. At the Fasig Tipton Calder Sale, one MM filly sold for $360,000 and another one sold for $400,000. At the Barrett's Sale, he had one that sold for $450,000 and at the Ocala March sale, he had one that sold for $400,000.

When they're selling that good at the 2 year old sales, the price of his yearlings will go way up next year.

However in the sales fantasyland 400k horses are not really high enough to drive up the price too much. If the pinhookers see that as a ceiling of sorts it will limit how much they will go for a yearling. They do not want to pay 300k for a horse and not be able to get more than 400k. One big problem that I see and have heard from other sellers is that there just arent enough buyers to support the middle market horses anymore. It seems like everybody is selling these days, even guys that were just racehorse buyers. The big horses will still go to the upper level buyers and the cheap market is always going to be there but with stud fees in KY still above where they should be it is hard to get a decent number for a middle of the road horse. People simply have too much money in horses with a shrinking pool of buyers.

[Rupert Pupkin]

Originally Posted by Cannon Shell

However in the sales fantasyland 400k horses are not really high enough to drive up the price too much. If the pinhookers see that as a ceiling of sorts it will limit how much they will go for a yearling. They do not want to pay 300k for a horse and not be able to get more than 400k. One big problem that I see and have heard from other sellers is that there just arent enough buyers to support the middle market horses anymore. It seems like everybody is selling these days, even guys that were just racehorse buyers. The big horses will still go to the upper level buyers and the cheap market is always going to be there but with stud fees in KY still above where they should be it is hard to get a decent number for a middle of the road horse. People simply have too much money in horses with a shrinking pool of buyers.

Yes, that is true. The market is really hit and miss right now. A $50,000-$60,000 stud fee on MM may be more reasonable. But as you said, the key is winning some graded races. If MM offspring start winning some big races, the stud fee will go way up in a hurry. I am expecting to see them win some big races too. Some of these 2 year olds that I saw could really run.

By the way, it seems like most of the pinhookers complain every year and say that they will not spend as much the following year. But when the following year comes, they spend more than ever. To me there is simply not a big enough market in the $500,000-$1 million range to be buying yearlings for $250,000 a piece. That's just too much money. The $50,000-$100,000 makes much more sense to me.