Things Looking Up As OBS March Kicks Off New Sales Season

OCALA, FL- Hardy attempts at optimism were made at last year's Ocala Breeders' Sales Company's March Sale, but an unmistakably ominous atmosphere hung over the grounds. Before the first hip had even reached the walking ring in Ocala, both Keeneland's April Sale and Fasig-Tipton's Gulfstream Sale had been canceled as the tentacles of the Coronavirus pandemic tightened their grip around the nation.

There was an unforgettable discord between the then-normalcy of crowded local restaurants and stores while sporting event and festival cancellations seemed to happen between the start of each breeze set.

“Last year we were in the middle of the breeze show when we knew things were happening,” Sequel's Becky Thomas recalled. “There were people fleeing to what they thought was safety and we were stuck here with a group of horses. It was pretty traumatic. We knew that if we got through this sale it would be some time before we would have another sale.”

“Last year we were terrified,” consignor Eddie Woods echoed. “You know, we were in a total gray area. [The Coronavirus] had just shown up out of the blue and no one knew what to expect, but because of the gray area involved, our expectations were kind of nil.”

One omnipresent question sat at the forefront of sales-goers minds. When would these horses even get to see the starting gate?

After a full year of trying circumstances and steady perseverance within the racing community- one where those young sales graduates did get the opportunity to race–a new page is turned as the next crop of juveniles prepare to go through the sales ring as the OBS March Sale marks the beginning of another 2-year-old sales season.

The first of two sessions of the 561-head catalog begins Tuesday at 11:00 a.m.

“We're looking forward to this sale,” OBS President Tom Ventura said. “Last year, we didn't know whether we were moving forward or stopping. We had the sale and we made it work, but now things are loosening up. And you could see the energy on the sales ground here today. Things are doing much better with vaccinations throughout the country and I think the attitude is way different now. There's actually a light at the end of the tunnel.”

Ventura said that interest in this sale has been high over the past months.

“One of the things that was promising even before we got things going here is that the activity in the barns at the training centers was pretty active with people looking in advance at the farms,” he said. “I think one thing about this sale, when we opened it up from the select sale, is that there are horses at the top and then horses at varying budgets. So I think that attracts a broader buying bench and we're hoping that's the case again this year.”

Woods said he believes the results from last fall's breeding stock sales are a strong indication of positive outcomes for juvenile consignors in the coming weeks.

“The fall sales went down really well,” he said. “Now we've gone into the 2-year-old mode off a pretty much solid routine. People are able to move around more and it looks like we got a really good attendance for the first 2-year-old sale. There's a bunch of nice horses here so I think things are just going to be fine.”

Thomas said that her Sequel Bloodstock consignment has been well-trafficked since the start of the sale.

“I can tell you it feels very, very good,” she said, comparing the atmosphere this week from the one a year ago. “There's a lot of interest from agents. We've been steady and busy here this morning. I thought the breeze show was well-attended. Agents are voicing that they've got plenty of interest from owners, so I think it's a very, very good feeling and it bodes well for starting our season.”

RiceHorse Stables' Ali de Meric said that in general, talk on the sales ground has been optimistic.

“It's an exciting time, the first sale of the year,” she said. “There's always a little tint of anticipation and excitement for what's to come. I've very hopeful that it's going to be a strong sale. I think there's a general air of positivity so overall, I'm very happy and excited to present what we've got here to the market.”

de Meric added that she believes the growing market polarization with continue.

“It's ever more polarized, all or nothing, and it's up to us as consignors to set good reserves and set the number because you don't have that burning fire of organic bids making a horse go from zero to 200 naturally,” she said. “So you kind of get good at understanding the market. And if you can get that number right, you'll sell your horses profitably and everyone is happy and goes home a winner.”

Ventura said that an impact is expected due to the loss of the Korean market with the Korean Racing Authority's temporary restriction on foreign-bred racing imports.

“They were fairly active last year,” he said. “They're predominantly buying in the price range where the market could use some help so it's disappointing that they're not able to buy horses. Hopefully next year they'll be able to participate.”

“We will miss seeing the Koreans here,” de Meric echoed. “They're really good under-bidders and a solid middle-market group for us. But I see plenty of people to support a good, healthy sale.”

Ventura also noted that fewer pinhooks are present in this sale's catalogue.

“Looking at the broad picture, on average our pinhooks are down a little bit, which is expected because the market was down,” he said. “So I don't know if we have the exact same sale as we did last year. People will be doing better because they came in with less investment. But I'm very pleased with the horses on the ground and I think that as always, the top of the market is strong.”

Three under-tack sessions were held during last week's breeze show. A trio of juveniles fired off :20 2/5 quarter-mile breezes while another 25, entered as of Monday, shared the quickest :9 4/5 eighth-of-a-mile breeze time. Learn more on the under-tack sessions held Thursday, Friday and Saturday.

Despite a disrupted racing season due to the pandemic, several stakes performers have come out of last year's auction including three-time stakes winner Joy's Rocket (Anthony's Cross) ($47,000) and dual stakes winner Madone (Vancouver {Aus}) ($125,000). Recent GIII Herecomesthebride S. victress Con Lima (Commissioner) RNA'd here 12 month ago.

Last summer, 2019 sales graduate Speech (Mr Speaker) ($190,000) reached Grade I stardom in the Ashland S. at Keeneland. Also since last year's sale, 2019 graduate Café Pharoah (American Pharoah) ($475,000) won a trio of graded races in Japan including the G1 February S. this year.

The 2020 sales topper, a filly by American Pharoah consigned by Wavertree Stables, sold for $650,000 to Katsumi Yoshida. Now named Russian Samovar, she is a winner in Japan.

According to subsequent post-sale transactions added to the 2020 OBS March Sale statistics, 295 sales were recorded for gross receipts of 27,349,500 at last year's edition. The $92,710 average was down 35.9% from $144,603 in 2019. 2019 sales averages were also down from $164,494 the year prior. The median last year decreased from $95,000 in 2019 to $50,000.

“I think everybody on the ground is in a much better frame of mind just from walking around the barn and seeing the activity, and even in the grandstand during the under-tack show,” Ventura said. “We're looking forward to a good sale and I think the mind set at the barns is very positive. This is certainly a glass-half-full business and that's what we're looking forward to. Compared to last year, it's so, so different. As we get closer to the finish line here with this pandemic, I think people are ready to get back to business. We're ready to start the 2-year-old season and looking forward to a good couple of days.”

For more information, visit www.obssales.com. Watch full coverage of both sessions of the sale, beginning Tuesday at 11 a.m., at www.thoroughbreddailynews.com.