Instead of posting sale results today, I’ve decided to post some good news from Professional Auctions Services, Inc. This seems to indicate that the market is beginning to inch upward, pulled by the upper end horses.
Here is their Press Release from February 2, 2011:
Professional Auction Services, Inc. Announces that 2010 Average Price is Highest in Company’s 32 Year History
Professional Auction Services, Inc. announced that the average price for all horses sold in 2010 reached a record level. The 1,556 horses that sold to new owners averaged $4,590, up 5% from 2009. The new record bested the old mark of $4,498 set in 1999.
The average was boosted by a record number of horses sold for $100,000 or more in 2010 led by Congress Super Sale High Seller, Huntin For Chocolate, at $300,000. Huntin For Chocolate was sold pursuant to a court approved settlement to Darol and Karen Rodrock’s Rodrock Ranches. He will stand at Amy Gumz’s in Kentucky.
Three other horses hit the $100,000 level. The co-high sellers at the World Championship Show Sale were both yearlings sold by the Schroeder Ranch. Hot Lady Born Lopin, a filly by Blazing Hot out of Born Lopin sold for $100,000 to Gary and Susan Dempze’s Red Berry Ranch. A yearling colt by Born To Be Blazing out of Miss Surely Bars also sold for $100,000 to Rolling pastures Horse Ranch, LLC.
The other horse on the list is NRCHA Snaffle Bit Futurity Sale High Seller Savannahboonsmal at $125,000. The tw0 year old daughter of Peptoboonsmal is out of Savannah Hickory, dam of the 2009 NRCHA Snaffle Bit Futurity Champion Raymanator. Savannaahboonsmal is also a full sister to a 2009 NCHA Open Futurity Finalist. She was sold by GS Cutting Horses, LLC to Circle Y Ranch.
The number of horses cataloged dropped by 13% to 2,3652. Gross Sales dropped by 10% and the Median Price fell by 4%. “The statistics show that the upper end of the horse market is very strong,” said Tim Jennings of Professional Auction Services, Inc.
Leading 2010 PAS Auctions by Average Price
$6,709 Average Price – The AQHA World Championship Show Sale
$7,901 Average Price – The All-American Quarter Horse Congress Super Sale
$7,965 Average Price – The NRCHA Snaffle Bit Futurity Sale
$9,020 Average Price – The American Hunter Pony Classic with the USEF National Pony Finals
$14,830 Average Price – The Sport Horse Auction with Dressage at Lexington