OBS Spring Sale to Test Strength of Broad Market

With a catalog totaling 1,222 and spread over four days of trading, the Ocala Breeders' Sales spring 2-year-olds in training sale April 24-27 has a diversity of offerings that should have broad appeal to buyers.

As such, the sale will provide the stiffest test yet of the depth of the juvenile marketplace this year after a banner 2017 and a continuation of the recent trend in which buyers are willing to pay premium prices for those individuals deemed to have the best chance of performing at the highest level, with tepid demand for horses in the lower price ranges.

OBS' April sale has experienced phenomenal growth. It is coming off a 2017 edition that produced across-the-board records for gross ($61,240,900), average ($89,796), and median ($47,500), based on OBS numbers that have been revised to reflect post-auction private sales.

The 2017 sale-topper was a Tiznow  colt bought by agent John Moynihan on behalf of Coolmore Stud's M. V. Magnier for $2.45 million, an OBS record and the highest-priced juvenile sold at public auction in North America last year. Named Conquistador, the colt has placed second and third in two starts for trainer Mark Casse and an ownership group that includes Magnier, Michael Tabor, Derrick Smith, John Oxley, and Markus Jooste.

Like many consignors, Dr. Barry Eisaman is going into the sale with optimism, influenced by the critical mass of horses on offer. He shared the view that the April sale has grown in such proportion, it is the equivalent of the juvenile market's version of Keeneland's marathon September sale for yearlings.

"The trend has been for sales to be top-heavy, where the upper echelon sell wonderfully and there are plenty of horses that don't get sold," Eisaman said. "If that trend has any chance to reverse, it's going to be at this sale because OBS April sale is the Keeneland September of 2-year-old sales. There is such a wide variety of horses, and they attract a wider variety of buyers than the earlier sales. … It will be good for the good horses—because those are in demand—and better for the rest of the horses because there will be such a diversity of buyers."

Consignor Joe Appelbaum, a partner in Off the Hook, agrees with the comparison of OBS April to Keeneland September.

"There is something here for everyone, and I think that's why it has become so popular over the last four or five years," he said. "This is the sale now. It has undergone a big change since I started in this business, when it was an afterthought sale. If you're not here, you'd better get here, because this is where everyone is."

Appelbaum was cautious about making predictions, but he said there is a lot of activity on the sale grounds and the offerings should prove attractive.

"I'm looking forward to it, and we'll see what happens," Appelbaum said. "It's hard to tell what's going to go on in the marketplace, but I have seen a lot of nice horses—not just ours, but with other consignors. There seems to be all the right buyer representatives here, but you never know until the sale takes place."

Through the close of business April 21, 256 of those cataloged had been withdrawn. That number will likely increase prior to the sale, but the remaining horses represent a cross section of quality and price ranges. 

All 10 leading North American sires are well-represented in the catalog, and the sale has some strong female families, including 2-year-olds with well-heeled siblings. Twelve dams of April juveniles won grade/group 1 stakes, with 16 grade/group 2 winners having produce in the sale.

There are 26 horses in the catalog out of mares that have produced grade/group 1 winners. Juveniles that are full or half siblings to prominent horses include Hip 403, a half brother to champion juvenile Good Magic, one of the leading contenders for this year's Kentucky Derby Presented by Woodford Reserve (G1); Hip 617, a half brother to prominent sire Malibu Moon ; Hip 757, a colt out of 2011 Broodmare of the Year Oatsee, the dam of Preakness Stakes (G1) winner Shackleford  and grade 1 winner Lady Joanne; and Hip 1098, a colt out of 2013 Broodmare of the Year Take Charge Lady and a half brother to champion Will Take Charge , grade 1 winner Take Charge Indy, and to the dam of champion Take Charge Brandi.

Graduates of last year's April sale who have shown their competitiveness include Santa Anita Oaks (G1) winner Midnight Bisou, grade 2 winner Wonder Gadot, and grade 3 winner Rayya, all three hopefuls for this year's Longines Kentucky Oaks (G1); stakes winner and grade 2-placed Snapper Sinclair, who could compete in the Kentucky Derby Presented by Woodford Reserve (G1) if there are defections; grade 2 winner Road to Victory; grade 3 winner Significant Form; and Mr. Melody, a group 3 winner in Japan.