OBS Spring Sale First Step Toward Return to Normality

As juvenile auctions go, the 2020 Ocala Breeders' Sales Spring Sale of 2-Year-Olds in Training could be described as a bit of a wild card.

In a sales season plagued by calendar changes and cancellations due to the COVID-19 pandemic, the Spring sale represents a hopeful return to normality for Thoroughbred consignors and buyers, who have waited as anxiously for the reopening of the auction house as they have for a return to racing. 

"I think there is a little bit of pent-up demand because we've had to back up so many sales to get to this point and that is a positive," said Nick de Meric of de Meric Sales. "On the negative side, we will miss some of our overseas friends, the Koreans, Japanese, and Europeans—obviously it's hard for them to travel and I'm not sure they will be doing anything remotely. One would like to think so but we're not sure. 

"The domestic agents and trainers seem to be working the sale hard and have been working the farms hard before the sale so there is definitely a demand. But there are a lot of horses here. I think it will be the same old cliché that the top third to top half of the sale will be pretty healthy but it could get tricky after that. I hope I'm wrong." 

Originally scheduled to take place in late April, the decision to reschedule the Spring sale allowed for many horses that were entered in earlier, canceled sales another chance to run through the ring. A total of 1,315 horses were entered in the four-day sale, which runs from June 9-12. As of June 8, 409 horses had been taken out bringing the total for the start of the auction down to 906. 

Many of the consignors on the grounds for this year's renewal were also a part of the OBS March Sale of 2-Year-Olds in Training, which took place just before the worldwide COVID-19 shutdowns effectively ground the global economy to a halt. With the regulations that had helped to hem in the virus for so long finally relaxing, many said they were encouraged to see that domestic buyers had made the trip even as social distancing protocols remain in place. 

"I feel like honestly the trend at the upper end of the market has been good and I think it will be the same. I do feel like it will be better than March," said Randy Hartley of Hartley/DeRenzo Thoroughbreds, who came into the sale a bit lighter this year with only 11 horses. 

"We sold horses in March and it was pretty good," said Hartley. "But I think with this sale, because people can come, they want to do business and they need horses. There are some really, super nice horses here. This is probably the best group of horses that OBS has had. We didn't overload this year. I felt like this year training them was different. It was about mentally training them rather than physically training them. You don't want to overdo it or under-do it. I think it should be OK." 

During the 2019 Spring sale, 840 horses went through the ring from 1,221 cataloged. A total of 682 sold for record gross receipts of $73,457,000, up 6.7% over the $68,541,500 figure in 2018. The sale produced a record average of $107,708, reflecting a 8.8% increase over the $98,197 average in 2018, and the median was a record $60,000, up 8.3% over the $55,000 median of 2018. The RNA rate was 19.6%.

Joe Pickerrell of Pick View Sales, who was also on the grounds for the March sale, said his barn has seen consistent traffic ahead of the sale, despite the sporadic rain driving some buyers indoors. 

"I feel like we've been just as busy as we were in March," said Pickerrell. "But this sale will react to the state of the market. I feel like we're all going into this unsure. These are unprecedented times and uncharted waters. We're all going to have to adjust our reserves and our expectations to what the market demands. If we can do that accordingly we will be able to get some horses sold." 

To help combat COVID-19, OBS has established hygiene protocols throughout the grounds and encouraged patrons to maintain a safe, six-foot distance between others whenever possible. The use of masks is also encouraged and hand sanitizing stations have been set up both inside and outside close to all points of ingress and egress. 

In addition, for those buyers who may be unable or unwilling to travel to the Central Florida auction, OBS will offer online bidding to clients for the first time. Buyers are encouraged to go through the OBS website and register to establish a line of credit with the office before accessing the bid screen with their credentials during the sale. Additional staff have also been brought in to take bids over the phone. 

"There seems to be a number of buyers on the grounds, certainly there are some people who have elected not to travel, but the sign-up for the online bidding has been encouraging," said OBS director of sales Tod Wojciechowski. "We've been very happy with that. I think it will be pretty intuitive for folks. I think there are some that are curious, but who is to say how much will be purchased online. I think a lot of people think there is a role for it moving into the future but we're all just trying to figure it out. Not unlike the consignors, we are very hopeful." 

All sale sessions will begin at 10 a.m. ET beginning June 9.