sibaya sales day one down 17 percent..why

gOOD TOPIC FOR YOU BE THE jUDGE

In the middle of the cape sale this year I counted exactly 7 trainers, and I know that 1 of them definitely did not get a buyers card (because he told me).

Now if there were only a few people at the auction of your house, who is to say they determine the real value.

No, the value of something must surely lie with it's owner, give or take his circumstances.

eg Cohen flew Sun Classique fron AUS and put it on his sale. There was no interest and no bids well beneath his reserve (can you imagine the costs till then). Must he have accepted the 'true barometric meter' of say(?) R40,000 (not even the plane ticket) just because thats what those experts in the tent thought? He was prepared to own her at that price, surely his right as her owner then?

I think the "DUBAI LIE" has shown it's ugly face - be wary of dreams that can quickly turn into nightmares

Mr H in my humble opinion tom card at greyville even more exciting than the dubai world cup nite?

JD as someone stated earlier, prior to the sale of Sun Classique - a reserve price should have been made known. That way all prospective buyers know what they in for ( minimum ) if you don't get the reserve price, it remains with the breeder.
This is obviously what happened ( to be absolutely correct, BOUGHT BACK by breeder, cause no reserves in place ) - isn't Lionel happy with this result.

Jack Dash, you are not wrong. The only problem is that you should then not put your horse on auction. You decide on the value, and then advertise it at that price. I can then decide if I want the horse at that price, or not. Very similar to buying a house.

An auction, unfortunatley works differently. Bidders decide on the value of the article that they are bidding on. Yes, you have the right to place a reserve on your horses, and then I fully agree with catsmug, that the reserve should be disclosed prior to the auction. On a similar basis if the breeder is prepared to keep a "piece" of the horse it should be disclosed in the catalog.

The breeders unfortunatley, want to have the "protection" that an auction offers as the horses are sold "as is", but then want to artificially up the price with "buy backs" and other tricks. I get no guarantee when I buy a horse. Let's ask Karl Madiema what percentage of horses sold on auction never sees a race track. It will be a shockingly high figure. So if you want to achieve your high price, then offer guarantees, return policy, refund policy etc, but if you don't then accept the price at the auction, without interferance, as it is the "fairest" and probably the correct price. Why should breeders bread be buttered on all sides.

Cohen could afford to keep Sun Classique, and is rewared for it. There had to be something wrong with her for bidders not wanting to bid any higher. In hindsight the breeder should never have accepted the price for JJ the Jet Plane. On the day, I am sure he was very happy that he managed to catch some owners with this bad legged specimen. There are very many stories of R 1 million + horses that have not and will never see a race course. Why do we not discuss them

It is a good topic for YOU BE THE JUDGE, but unfortunatley is one of those questions that just does not have an answer. So as the prices fall.....come to me baby, like Oscar says, they that have cash available will do some good deals.

it'S fraud PLAIN AND SIMPLE - THEY HAVE NO WILL TO BUY THE HORSE BACK THE INTENTION IS TO GET A FALSE VALUE ON THE HORSE AND THEREBY ENRICH THEMSELVES- they pay people to bid on their behalf to get a false value on their horses - use the reserve system it works every where else - why should owners have to foot the bill for breeders? Let the market decide or advertise at a fixed price on Teletrack

The RA never sleep!!!

Final figures for the sale.

Aggregate R15.37m (down 16%)
Average R67 118 (down 10%)
Catalogued 292 (down 3%)
Sold 229 (down 7%)
Highest R410000 (up 3%)