FT Kentucky Sales

[Mara]

@skydy

Thanks LaurieB. It wasn’t up yesterday.

Interesting. C.C. has three out of Unbridled’s Song mares and one from a Grand Slam mare. It will be interesting to see what they look like. Duncan Taylor was right, his yearlings at the July sale were all over the place. Seemed liked high reserves…

I am learning, I could tell that the C.C. 195k RNA was just that, but it was very obvious.

Frosted really has some nice babies and 13 at Saratoga is impressive.

How can you tell on the RNAs? Curious, but I haven’t paid a ton of attention to the auctioneer’s patter either.

[betonbill]

Question: I was also interested in the Chrome yearlings and looked up their prices. Generally, on the yearlings that were marked did not sell, was the price in parenthesis the actual bid price, or was it the reserve price that was not met? Thanks in advance.

[Texarkana]

@betonbill

Question: I was also interested in the Chrome yearlings and looked up their prices. Generally, on the yearlings that were marked did not sell, was the price in parenthesis the actual bid price, or was it the reserve price that was not met? Thanks in advance.

The highest bid.

[LaurieB]

@betonbill

Question: I was also interested in the Chrome yearlings and looked up their prices. Generally, on the yearlings that were marked did not sell, was the price in parenthesis the actual bid price, or was it the reserve price that was not met? Thanks in advance.

In nearly all cases, the price in parenthesis is the reserve that was not met. There may have been no live bids at all.

Occasionally a seller will set a “live money” reserve. In that instance, the number shown is the last live bid.

[Texarkana]

@LaurieB now you have me totally confused.

So you are saying “nearly all” of these “not sold” prices in parenthesis are the RESERVES set by the sellers?

http://www.fasigtipton.com/2019/The-July-Sale#/

That is not how I have ever understood it.

My understanding is that is where the “bidding” stopped, whether it was live money or running the horse up.

ETA:
OK, I’m super dense today and realized I completely misinterpreted what you meant.

You meant that most horses go through through the sale all the way, not live money… or at least I think that’s what you meant. Therefore the number is the reserve, not that they publish the reserves in a deliberate manner. I don’t know why my head changed that into something weird, sorry about that.

[LaurieB]

@Texarkana

@LaurieB now you have me totally confused.

So you are saying “nearly all” of these “not sold” prices in parenthesis are the RESERVES set by the sellers?

http://www.fasigtipton.com/2019/The-July-Sale#/

That is not how I have ever understood it.

My understanding is that is where the “bidding” stopped, whether it was live money or running the horse up.

ETA:
OK, I’m super dense today and realized I completely misinterpreted what you meant.

You meant that most horses go through through the sale all the way, not live money… or at least I think that’s what you meant. Therefore the number is the reserve, not that they publish the reserves in a deliberate manner. I don’t know why my head changed that into something weird, sorry about that.

Yes, I was saying that almost all horses have an “all the way” reserve so the bidding stops at or just short of that reserve–because even when the live money bids stop, the auctioneer continues to bid on the seller’s behalf until that number is reached.

So the number published is–in most cases–the reserve set by the seller. (FT publishes the reserve itself, Keeneland publishes the last number the auctioneer bids which is one tick below the reserve.)

So I think we are in agreement.

Or maybe by now I’m confused too. :lol: