SHAKOPEE, MN – Despite a drop in the number of horses up for sale in the Minnesota Thoroughbred Association yearling sale Sunday, the sale posted a 4.3% increase in total sales volume year over year and a whopping 36% increase in sale average.
“I had some concerns about the smaller book and having more outs than we expected,” said MTA Pesident Cameron Mahlum. “I was impressed with how the consignors had their yearlings ready for the sale. I think we saw that physical appearance more than upgraded the pedigrees and thus connections were rewarded financially.”
In 2017 the MTA sent 55 yearlings through the ring with 43 changing hands (78%) while this year 40 yearlings went through the ring, selling 33 (83%).
“We are ecstatic with the results. We had motivated sellers and buyers,” said Mahlum. “Nearly 83% of those that went through the ring exchanged hands which is a very solid number historically. Most importantly we had a 36% increase in sales average. An average of $12,600 is very impressive. I also want to applaud Canterbury Park with providing a great venue and improvements to help make this a success.”
“A few more key to the success I believe,” he continued, “were new incentives for breeders with financial bonuses, the MTA Sales Graduate Stakes for two year olds, and the recent success of our sales toppers. Our last three sales toppers have definitely rewarded the buyers and breeders. Got Even Smarter (stakes placed and banked over $111K), Firstmate (multiple stakes winner and champion with more than $140K in earnings) and Notte Oscura (debut winner and stakes placed) have been great for promoting our sale.”
The gross proceeds for the sale were $416,900, up from $399,600 in 2017. The leading consignor in terms of sale proceeds were Mary and Eric Von Seggern, selling three yearlings for $183,000. They also had the sale topper, Hip #35, a Discreet Cat gelding out of Gypsy Melody, a Minnesota bred stakes winner. The gelding brought $100,000, sold to the leading purchaser in terms of dollars paid ($155,000), Novogratz Racing Stables, Inc. (See additional story on sale topper here.)
The leading consignor in terms of number of horses sold were Dove Hill Farm and Lowell Haroldson who sold five horses each.
The leading buyer in terms of number of horses bought were Pete Mattson and the partnership of Angus Cashin and Wayne Schindler, three each.
The median price dropped from $5,200 to $3,500.
“We have seen a decline in size of our sales catalog and there are a few reasons for that,” stated Mahlum. “We have competition with others sales and are seeing more Minnesota bred horses in Kentucky sales. We are hoping that with the great success of this recent sale, incentives and success with sales grads, we will convince sellers and buyers that we are a very viable sale for both buyers and sellers.”
Click HERE for complete sale results.
