Measuring the Depth of the OBS March Sale
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Photo: Photos by Z
Action during the Ocala Breeders' Sales March 2-Year-Olds in Training Sale, March 15-16
The North American 2-year-olds in training season got a strong start March 15-16 at Ocala Breeders' Sales where four horses topped the market with seven-figure prices.
Such strong results at the top would be expected to drive up the overall average, particularly since the sale's 2021 edition did not produce any seven-figure purchases. True to form, this year's average rose 13% to $132,416 from $116,831 for 2021. These four big prices, however, were not solely responsible for the sharp rise in average. If the top four horses are excluded, this year's sale still averaged $122,253, which is nearly 5% higher than in 2021.
In a word, the OBS March results were deep. Growth occurred at all price levels, according to a BloodHorse MarketWatch analysis using deciles. A comparison of the 2022 and 2021 sales shows double-digit growth in the average price for nine out of 10 deciles and the strongest growth occurring in the middle and lower end of the market.
The top decile indicated a greater willingness for buyers to stretch on the horses they perceived as the best, with the price spread for the top 10% growing from $450,000 last year to $890,000 this year. The cost of the least expensive horse is the top 10% rose modestly to $310,000, up from $300,000 a year ago.
Prices were more stable in the second-highest decile, with its average nearly 5% higher than the comparable decile of 2021. The lowest price in this decile also increased modestly from $190,000 to $200,000.
Demand stayed high throughout the sale as indicated by the double-digit increase in average price seen in the third through 10th deciles and the presence of six-figure averages through the top four deciles compared to 2021 when only the top three produced averages greater than $100,000.
Among the sale's leading sires by average, American Triple Crown winners took center stage.
American Pharoah , the Triple Crown winner of 2015, led the overall sire standings with a $576,667 average from three sold out of four offered. His top seller was a $1 million filly out of the Forest Camp mare Just Parker that Top Line Sales sold to bloodstock agent Donato Lanni, who acquired her on behalf of Baoma Corp.'s Susan and Charlie Chu.
Justify , who took the Triple Crown in 2018, led the freshman sire ranks with a $358,333 average from three sold of three offered. His top seller was a $425,000 colt out of the Tapit mare Dancinginherdreams that Parrish Farms as agent sold to Conor Foley and Jim Hatchet's Oracle Bloodstock on behalf of Rosedown Racing Stables. Justify was represented by the third-highest overall sire average.
Both American Pharoah and Justify stand at Ashford Stud.
Spendthrift Farm's freshman sire Bolt d'Oro also ranked among the top five sires by overall average. His $307,857 average from 14 sold out of 15 offered was the fifth-highest average among sires represented by two or more sold. The others among the overall top five were three-time leading North American sire Into Mischief ($543,000) and WinStar Farm's stalwart More Than Ready ($345,333). The $1.2 million sale-topper was a colt by More Than Ready that Kaleem Shah bought out of Wavertree Stables' consignment.
The More Than Ready colt consigned as Hip 318 in the ring at the OBS March Sale
Rounding out the top five freshman sires were Mendelssohn ($230,182), Tapwrit ($180,000), and West Coast ($179,800).