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Maryland Yearlings Day-1: Average Down 19.4%
Overall on Day-1 in Maryland, 192 yearlings sold for US$2,518,000 (down 9.5% on last year's 171 sold for US$2,783,400). The US$13,115 average was down 19.4% (last year US$16,277) & the US$6,500 median was down 35% (last year US$10,000). The buy-back rate was 28.5% (down from last year's 35.2%) & bloodhorse.com summed up: "Even though the setbacks made it difficult for consignors to make a profit or to even recover the costs of stud fees, they showed an increasing willingness to accept what the market would bear." Francis Vanlangendonck from Florida-based Summerfield sales agency commented: "It's been tough to find a buyer in that lower range because people don't want inexpensive horses. But when a good horse walks through there, it's selling & it's bringing about 30% less than it would have 2 years ago. The one thing about the market is that it's becoming consistent. You can predict pretty well what's going to happen & we're getting horses sold." Similarly Pennsylvania-based Marshall Silverman (who sent 17 yearlings from his consignment through the sale ring & bought back only 1) noted: "I don't think people are necessarily happy with the prices they got for their horses, but they got them sold. We had reserves on some, but we were very reasonable with them. I tell you what, some people have bought some really nice horses today for not a lot of money. I sold a couple of really nice fillies that should have brought twice what they did. They were vetted & they scoped well; they were good-walking horses & they were pretty horses. But you've got to do what you've got to do."