Kenwood is known for making savvy bargain purchases at public auction and the OBS March sale has been very good to us in the past few years, but the 2015 edition of this select sale may go down as our best ever. On the opening day of the two day expanded venue, we started things off with two super bargains; Hip# 160 by top sire Exchange Rate out of a stakes winning mare, and Hip#190, by Pioneerof the Nile, sire of last year's two year old champion and early Kentucky Derby favorite American Pharoah, each for just $32,000. Just getting two horses like this in the March select sale at April prices was really amazing, but it didn't end there as on the second day we were the high bidders on HIP #534, a big strapping Saint Anddan colt who is a full brother to a Santa Anita winner of over $215,000 and counting for $35,000 and another Pioneerof the Nile filly, HIP #597, from a young mare out of a strong black type family for just $22,000. Our patience paid off as she was one of the very last horses in the sale and we got perhaps the bargain of the sale in front of a near empty pavilion. Of course, Pioneerof the Nile is one of the best young sires in North America, with his son American Pharoah, two year old champion of last season, the likely favorite for the Kentucky Derby (see Bloodhorse article below). To be able to buy not one but two fillies by this sire, both of whom are beautiful movers, plus two strapping colts, all four for less than the sales average for a single horse, is a tribute to the hard work and careful selection of our team, who waited for the good ones that each year fall through the cracks in a sale of over 500 young horses. Recall in 2012 we bought Michael With Us for $57,000 at the same sale, and he won a stake, placed in a graded stake and earned over $175,000. Then we bought Long May You Run in 2013 for $40,000 and he’s won over $100,000 and counting. Last year we bought Jersey Jules for $55,000 and Titanium Jo for $77,000; both have already showed themselves to be great buys, and the best is yet to come for them.
These four horses have been placed into two groups of two horses each. Group #22 and #23 will be announced shortly and are expected to be oversubscribed. As always with our Taste of Thoroughbred Ownership program, these groups offer one-time payments with no additional money required at any time for any reason and all four horses are sold without markups.
We couldn’t really blame anyone for wondering how we could possibly buy horses like this for about ¼ the sales average and thinking “there must be something wrong or they would have cost more”. That’s how these sales work. Billionaires compete to overpay for some horses, while others that don’t attract the attention of a few buyers with the deepest pockets sometimes struggle to get bids. History shows many of the bargain horses end up being champions, while many horses selling for $1,000,000+ end up as 5 year old maidens. The press release below offers some interesting examples of finding value at the sales (Thanks to Adam Parker for passing it on). Note the prices paid for most of these Graded Stakes winners, and the notably slow workout time at the sale, 11.0, for Stephanie’s Kitten, one of the best horses in the world with earnings now over $2,700,000 and counting.
You can read the release below or access the link here;
http://www.obssales.com/2015/03/wild-dude-leads-1-2-3-obs-sweep-of-santa-anitas-san-carlos-stakes/
Wild Dude leads 1-2-3 OBS sweep of Santa Anita’s San Carlos Stakes
Last Updated: March 7th, 2015
Trainer Jerry Hollendorfer and Green Smith’s Wild Dude led a 1-2-3 OBS sweep of Santa Anita’s $250,500 San Carlos Stakes (G2) on Saturday, battling for the lead from the start, taking command turning for home and holding off Kobe’s Back (March ’13) by three quarters of a length, with Conquest Two Step (April ’13, August ’12) another three quarters back in third. It’s the second graded stakes win for the two-time OBS graduate, sold first by Perrone Sales, Agent, at the 2010 Fall Mixed Sale and then resold for $42,000 by Costanzo Sales after turning in an Under Tack eighth in :10 1/5 at the 2012 April Sale. The 5-year-old Florida-bred son of Wildcat Heir is now 12-5-3-2 and has earned $494,220. watch his under tack video
Joe Ragdale’s Sarah Sis picked up her first graded stakes win in Saturday’s $150,000 Honeybee Stakes (G3) at Oaklawn Park, taking charge on the second turn, opening a long lead in the lane and coasting to victory by a length and a half. The 3-year-old daughter of Sharp Humor worked an Under Tack eighth in:10 1/5 before she was purchased for $20,000 by Mr. Ragsdale out of the Doble Jak consignment at the 2014 OBS June Sale. The win leaves her with a 6-3-3-0 record with $203,000 in earnings. watch her under tack work
Flavor Racing, Brous Stable, Wachtel Stable and Destiny Oaks Of Ocala LLC’s Quality Rocks sat just off the pace in the $180,000 Florida Oaks (G3) at Tampa Bay Downs, hit the front a furlong from the wire and held on gamely for a three quarter length score. It’s the second stakes win for the 3-year-old Florida-bred filly by Rock Hard Ten, trained by Bill Mott, now 6-3-2-0 with earnings of $245,200. She was consigned by Woodford Thoroughbreds, Agent, to the 2013 OBS August Sale, Selected Sale conformation photo
Ken & Sarah Ramsey’s Stephanie’s Kitten got her 2015 campaign off on the right foot at Tampa Bay Downs on Saturday, turning in a strong stretch run to take the $150,000 Hillsborough Stakes (G3) by a length and a half, with fellow OBS graduate Speed Seeker (August ’12) checking in third. That’s seven graded stakes win for the 6-year-old daughter of Kitten’s Joy consigned by Eddie Woods, Agent, to the 2011 OBS April Sale, where she worked an eighth in :11 flat at the Under Tack Show. Trained by Chad Brown, she’s now 20-9-3-4 and has earned $2,724,104. watch her under tack work
Overall the sale showed modest declines in average price and median compared to the sale last year, with buybacks up and the number of horses sold for $500,000+ up also, showing it’s feast or famine for sellers and providing some real values in the middle market for patient and savvy buyers.