Statistics from the CTS Sale would appear to suggest that bloodstock sales are s-l-o-w-l-y coming into line with reality and the stakes on offer in South Africa.
The numbers from CTS make interesting reading :
Year Lots Sold Aggregate Average
2017 222 155,225,000 699,211
2018 221 111,475,000 504,411
2019 193 84,235,000 436,450
The average paid for a yearling on this sale has declined by 37% since 2017.
I would be interested to see this figure adjusted by deducting foreign buyers from the mix as they seem to have almost single handedly propped up the top end of the market this year.
The message seems quite clear - local buyers do not want to or simply cannot afford to buy horses that cost multiple millions.
The other side of this coin was that I saw a number of really 'neat' yearlings sell for very palatable prices at this year's sale.
Good luck to all of the new owners.
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