Momentum Continues at OBS Spring Sale

The pace picked up April 20 at the Ocala Breeders' Sales Spring Sale of 2-Year-Olds in Training, with the sale maintaining momentum throughout the day as two horses soared pass the seven-figure mark and the cumulative numbers continued to climb.

At the halfway point of the four-day auction, OBS reported 348 horses sold from 431 offered for an average of $139,121 over $102,647 last year, a $75,000 median (it was $50,000 in 2021), and gross receipts of $48,414,000 versus $40,032,400. The RNA rate for the 83 horses that have gone unsold over the past two days is at 19.3%, compared to a 12.7% RNA rate for 53 unsold in 2021.

A Medaglia d'Oro   colt (Hip 401) topped the day's action for $1.75 million, with Tim Cohen of Red Baron's Barn or Rancho Temescal emerging victorious midway through the day. The next highest-priced youngster was a son of freshman sire Mendelssohn   (Hip 490) sold to trainer Mitsu Nakauchida, who bid from the back ring and went to $1.3 million to secure the colt for Japan. Nakauchida also picked up the day's third-highest-priced individual, a $825,000 colt by leading sire Into Mischief   (Hip 466), to emerge as the leading buyer of Wednesday's second session with total receipts of $2,125,000 for his duo.

OBS reported 178 horses sold Wednesday of the 219 on offer, for gross receipts of $25,855,000 which was an increase of 19% from 2021. A median price of $78,500 was achieved and an average of $145,253 was established. There were 41 horses who failed to meet their reserve to represent an RNA rate of 18.7%. Numbers reported Wednesday may change due to post-sale reporting.

At this time last year, 196 horses changed hands of the 222 on offer for total receipts of $21,614,500, at a median price of $45,000 and an average of $110,278. An RNA rate of 11.7% represents the 27 horses that failed to meet their reserve. These figures include post-sale prices.

Bloodstock agent Oliver St Lawrence, who made the trip across the pond to shop for UAE-based trainer Fawzi Nass, commented of the market: "It's tough; we followed a few in the ring, an Into Mischief earlier, and he made streaks more than we were hoping he would make. We will keep looking and see what else there is."

Chad Schumer, who will be wearing both hats during the OBS Spring sale, both buyer and seller, also noted the market was. 

"I have heard many people sort of complain about the market," Schumer commented. "There hasn't been a single horse I got that wasn't a few bids over the reserve. I'm selling tomorrow, so I might feel differently, but I think it's been a good market, and there is tremendous demand for these horses from all over.

Bloodstock agent David Ingordo agreed with that assessment.

"I'm finding the market very challenging, quite frankly," he said. "There's a lot of horses that are very, very nice, and they are costing a very, very nice price. We came here to buy, and we've had mixed success because of the prices. We're disciplined, we're not cheap buyers, but we do set limits and some of these are blowing right by. I think the market is good. If you lead over a nice horse, you'll get a nice price. And there is some value, too."

A total of eight juveniles passed the $500,000 mark on the second day of selling, with two individuals breaking the seven-figure ceiling.

"Each day, the latter part of the day seems to really pick up," bloodstock agent Ben McElroy noted. "The market is a little stickier than I thought it would be. From a seller's perspective, I thought there might be more back ring action, but I am not certain that is the case. It seems a bit hit and miss, but you really hit when you do."

At the close of Wednesday's action, de Meric Sales was the day's leading consignor with 11 horses sold for gross receipts of $4,983,000 at an average price of $453,000.

"I think the takeaway for the first two days is that it's wonderful when you lead a good horse up here, a nice horse," Nick de Meric said. "There is all kinds of demand for that type. We're not seeing as much activity in the back walking ring as we sometimes see in April, but the good horses are selling great."

The sale continues Thursday with Hips 617-924 slated to go under the hammer, beginning at 10:30 a.m. ET.