Economy Strong as Thoroughbred Sales Soar
The American economy is rocketing upwards and so, as a result, thoroughbred racing and investing is exploding. The economy often fuels thoroughbred investments as discretionary income becomes more liquid. As such, there is no better time then now to invest in thoroughbred partnerships and investment packages.
This past year, Keeneland, OBS, and Fasig Tipton hit record gains while gross totals, median, and averages were up across the board. In some cases, at the top of the game, numbers soared as top horses brought astronomical prices. Perspective is always a part of the game, but most recently you can throw perspective out the door. At Keeneland, they sold 11 yearlings last year in Book 1, the elite pedigrees, for $1,000,000 or more. This year, in Book 1, they sold 26 horse for more than $1,000,000.
The averages all soared too, which helps the investment side of the game. Pinhookers, those who invest in horses then sell them a few months later, saw record gains as well, especially for top prospects. Blue Chip Thoroughbreds benefited from this good fortune as well, selling seven of their nine horses in partnership for a profit.
This past investment cycle, selling seven for a profit, while losing on one and keeping another for a later date, Blue Chip hit the board at about 37% profit. While not great in this business, outstanding enough since we had one horse get injured who didn’t make it to any sale.
The investment horses Blue Chip has this year look as good as ever. Bought right, with an exploding marketplace, the future looks really bright to have another outstanding year.