Wow -- just returned from the World Show and visited the sale (not to buy, just to look and assess the market). What a shocker. Having been on the seller's side of things at this sale, I felt almost sick to my stomach when I saw the dramatically low prices the horses were bringing. I've been to this sale/show for 19 years, and I've never seen anything like that. Well bred, sound, young horses with show points (over 50), going for less than $3,000. Many long yearings out of World-Champion stallions and out of daughters of world champs not able to get a bid of $800. I need fewer horses, not more, but I was tempted to buy when they were this low. My husband and I joked on our way back to Texas, that the horses in our pasture that would have brought a pretty penny a few years ago, are now probably worth about $35 a head now. Depressing, indeed, but a great opportunity for a buyer with the cash in hand.
Did any of y'all watch the sale when you were in OKC? What did you see? Do you notice the economic effect on horse sales in your areas yet? It hasn't hit us like this locally, but after seeing the World Show sale results, we're definitely not going to try to sell anything for quite some time.
I'd be interested to know what your observations are.