JC / Railbird

Keeneland Down 45.6%

Sales director Geoffrey Russell, asked how long the slump might last, replied:

“I don’t know because I am not an economist. I would like to see this turn around as quickly as possible. Definitely in time for [the Keeneland] January sale [Jan. 12-17, 2009],” he said half-jokingly, knowing that is unlikely to happen.

Let’s ask an economist then:

Keeneland’s sales over the last 16 years show that as an asset class, thoroughbreds are high-strung and a bit jumpy. When the world’s economy catches a sniffle, the horseflesh market starts wheezing…. When the economy slowed in the early 1990s, Keeneland’s sales fell three straight years, slumping 40 percent from $372 million in 1989 to $225 million in 1992.

Oh. Sounds like the just concluded Keeneland November sale augurs a rough year or three ahead.


Can you tell I don’t know a darn thing about any of this stuff. Ya you can — ok — I will read but keep to myself.

Posted by pete on November 20, 2008 @ 11:08 pm

Pete, my friend, I’m not sure what you’re saying, but I hope you won’t keep to yourself.

Posted by Jessica on November 22, 2008 @ 10:17 am

–Anytime I see the word economist–ughh–My Economics class was the only class I failed consecutively—Nah, I wont keep to myself, I always look forward to taking a look see here. If Crist did not mention your blog in the DRF–This would be one great, informative,entertaining place on the web that I would have no idea existed…I may have failed my Economics class, but I am starting to understand Horse Racing a bit more…Thanks Jessica.

Posted by pete on November 22, 2008 @ 7:49 pm