Despite drop, N.J. Classic yearling sale brings
in $3.1 million
Local horse farmers say prices down this year
Despite drop, N.J. Classic yearling sale brings
in $3.1 million
By jane meggitt
Staff Writer
MILLSTONE — Although prices were down from last year, this year’s New Jersey Classic Yearling Sale, held at Showplace Farm in Millstone on Sept. 7 and Sept. 8, grossed more than $3.1 million.
This is the first of the major sales of standardbred yearlings (the type of horses used in harness racing). The total gross for the 350 yearlings at auction was $3,121,000, with an average price of $8,917. Last year the average price per horse was over $12,000.
The sale was conducted by Garden State Horses Sales Co., Englishtown, and attracted consignors from New Jersey, Pennsylvania, Florida, Maryland, Delaware, Virginia and New York.
The 350 horses scheduled for sale was a record number, causing the auction to be spread out over two days. The decline in average prices was the first in several years. The New Jersey Classic had been the only yearling sale in North America to post average increases for the past five years in a row.
All horses sired by a registered New Jersey stallion are eligible for the Sire Stakes program, which holds 11 races in each class for two- and three-year-old trotters and pacers. These include the Sire Stakes Green Acres program, the New Jersey Futurities, the Breeders Awards and the Jersey Classic.
Perretti Farms, Upper Freehold, sent 26 horses to the sale. Maltese Artist, a bay colt by Artiscape out of Hula Dancer, brought the top price of $47,000 and was purchased by local trainer Linda Toscano, acting as agent for the owners.
Another Perretti consignment, Duck Stops Here, brought the high price of $40,000 in the Sunday session with G.S. Smiley, Allentown, acting as agent.
Bob Marks, marketing director of Perretti Farms, said their yearlings fetch an average of $12,000 -$13,000.
He acknowledged that prices were not as good as last year. "All horse sales are off since 9/11, since the economy’s been heading downward, the corporate nonsense, the stock index … standardbred horses are a luxury, not a necessity."
He added that when the average owner suffers a financial setback, often the horses are the first to go. He noted, however, that all the yearlings sold at the New Jersey Classic were specifically bred for that sale, and all were sired by stallions standing at Perretti Farms.
"It’s a totally Monmouth County, Upper Freehold event for us," he said.
Perretti Farms will be sending 68 yearlings to the Tattersalls sales in Lexington, Ky., later this month, and 30 will be sent to the Harrisburg, Pa., sales in November.
Fair Winds Farm, Upper Freehold, sent 11 yearlings to the sale that fetched an average price of $9,591. Their highest price received was $18,000 for Cannae Kissi, a bay filly by Matt’s Scooter out of Sizzle and Switch. All Fair Winds consignments were also New Jersey-bred, although Fair Winds does not stand any stallions at the farm.
Owner Mark Mullen observed that, while prices were down by about 25 percent from last year, the number of horses had increased substantially, and "when you double the supply and have the same number of buyers, it will have an impact."
He noted that this was the first significant sale in the standardbred world, but there have been several large thoroughbred horse sales and they have also seen declines in profits.
Walnridge Farm, Upper Freehold, had 16 horses at the sale, but less than half were Jersey bred. The top price paid was for Mrs. Rincon D, a bay filly by Party Party who went for $15,000. Presidential Poll, a son of Presidential Ball and the third-place winner at the recent yearling show at the Horse Park, went for $14,000.
General Manager David Meirs III of Walnridge said he thought lower sale prices were due to three factors: the economy, the fact that the first day of the sale conflicted with Rosh Hashana, and, with a two-day session, "people are not planning to get a hotel and spend two days there. They planned to buy their yearlings and go home."
He said Walnridge will send 37 yearlings to Harrisburg, horses Meirs called "the cream of the crop." According to Meirs, "We have a substantial number going to Harrisburg. A lot of the yearlings are first foals out of good mares by 17 different stallions. There’s a large variety for buyers."