Also in this playlist...
This transcript is automatically generated
Well we now turn to the business of horse racing April -- the month that thoroughbred industry prepares for the illustrious Triple Crown races.
For more I'm joined by Geoffrey Russell director of sales and ask for -- -- Lexington Kentucky thank you very much for joining us separate.
Good morning -- -- you.
I'm doing very well thank you so the big business of horse racing this is big business I was looking back at some of your numbers in this is the day that your April 2 year -- -- go on sale today did over eleven million dollars in sales last year although sales were down.
Double digits is the mood a little bit more upbeat this year.
-- there's a little more confidence I would say this year going in I think 2009.
Everybody was still feeling the effects of the crash of 2008.
When -- -- people who got a little more culpable.
And be able to evaluate their horses so I think.
There's a little more stability out there.
Cool I do expect to see there today -- -- some of the big players coming and I know they're coming in from around the world.
We'll have a great cross section of both America and Japanese European buyers here.
Last year's failed car Lester soap opera and also glasses champion two year old command of this -- looking at lucky whose -- by Bob Baffert so we hope you'll be here today to.
-- idea how much these courses go far what's the going rate.
Well last year's average price was about a hundred -- -- 5000 dollars.
So vary from about 25000 last -- -- it was a million and nine.
So it did it varies with the median value is around a 120000.
And if I am a purchaser and I get a Triple Crown champion.
How much does one get if you win that.
Of course went well well well at the moment looking at -- -- -- over a million dollars.
And less than a year since and he was -- so if he goes on with the Kentucky Derby.
His stock will go up dramatically and -- his stud value goes up dramatically do so you'll be retired to stud syndicated a large prize.
So windy auctions began in -- the auction process like for these forces over there.
Well they -- the two year old -- sailed through the little bit different than any of our sales.
As we have a preview day which we had last Thursday -- the horses actually performed on the racetracks that speed so the buyers could see and evaluate them.
Today the since then -- being looked at in the barn and -- work has been done and then this afternoon about 4 o'clock.
We'll start the auction process and sell -- 181 better catalog for today.
You know -- Jeffrey I'm seeing here that a 181 horses initially entered.
For the auction today but as of yesterday afternoon 53 horses had been withdrawn from the auction -- that.
Well -- different reasons for that -- the sale is later in the a year.
-- have minor injuries these horses have to be on the top of their game this is these -- -- Kentucky Derby there's no mistake.
The horses have to perform well and go through all these physical valuations.
And as one virus goes after it took all the boxes if they don't feel comfortable that they take all the boxes there the horses are we're -- Last year's sale included champion look -- at lucky.
Win win buyers -- -- to look at these horses what are they looking for.
There are looking for him.
The -- the complete package horse and have some pedigree some horse the confirmation.
That it is desirable and also horse have speed.
And looking at lucky last year in -- -- -- show breeze ten flat.
Which is a very fast time and he's been demonstrated on the racetrack since left that ability and is one of the favorites for next month's Kentucky Derby.
Overall Jaffray would you say that confidence is improved.
It has improve I wouldn't say that they're giddy yet but it has improved I think the fear factor.
2008 slash 2009.
Has -- little bit and we're still though.
Reset in this market so they'll take us it will take some time.
And in this -- begins at 4 o'clock that I.
8 o'clock this afternoon and what's your best that it where prices will be this year -- vs last year for these horses.
Well we hope that what we're looking for is the consistency through the whole market -- try to get away from polarized nation the last sale in Ocala.
Was a very consistent sale -- a great depth that we hope that we'll continue on.
-- Jeffrey Russell thank you so much for joining us director of sales at Keeneland good luck with the option today.
Thank you very much and thanks for joining us our right we --
Filter by section