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Pinhook Report for Barretts March Sale, 2008

By Don Engel
Editor, The Showcase

    The average, median, and gross were down, 
and so were pinhookers' fortunes in the 2008 Barretts Sale of Selected 2-Year-Olds in 
Training March 12 at Fairplex Park.
     Of the 168 horses in the sale that had been offered at earlier auctions--some purchased and
some bought back by their consignors--only 55
might be judged to have been profitable for whoever entered them in the Barretts sale.
     Even that number probably was optimistic, because it was based on an arbitrary estimateof $10,000 in expenses plus a 5-percent salescompany commission in the March sale.
     It's certain that many of those 55 were

 
Barretts March History
Year 
1990........................
1991........................
1992.........................
1993........................
1994........................
1995........................
1996........................
1997........................
1998........................
1999........................
2000........................
2001........................
2002........................
2003........................
2004........................
2005........................
2006........................
2007........................
2008........................
Ave. Price 
 $  83,698
 $  77,368
 $  73,570
 $  73,156
 $114,979
 $140,050
 $106,350
 $221,708
 $173,366
 $226,752
 $180,072
 $142,042
 $173,772
 $142,186
 $173,772
 $163,188
 $154,419
 $219,773
 $178,027
    
carrying sale-to-sale expenses of more than $10,000, but there's no way to know which, since such costs vary greatly from consignor to consignor.
     But even by that careful calculation, fewer than a third of the pinhooking efforts were profitable.
     The most profitable sale--the Biggest Score--appears to be that of No. 122, a colt by Seattle Fitz (Arg) bought last October for $22,000 and sold at Barretts for $600,000. No matter what the expenses were, that was surely a profitable pinhook.
     So was the sale-topper, No. 169, a Silver Deputy colt bought in September for $210,000 and sold for $800,000, though the multiple wasn't as spectacular as that of the Seattle Fitz colt or that of No. 131, a Touch Gold colt bought in September for $37,000 and sold for $250,000.
     Someone also did well with No. 91, a Friends Lake colt listed as a buyback at $65,000 in July and sold for $270,000.
     Another 51 appeared to have shown profits ranging from substantial to minimal.
     But 113 others either didn't make it to the sale ring at all or left the ring with the same owners they had when they entered it. There were 58 scratches, and there's no way to know why they failed to be presented for sale. The causes could have ranged from breakdowns resulting in a total loss or a private sale at a profit before the sale.
     The remaining 55 were listed as "not sold." They could have been sold privately after the sale, quite possibly at a profit, or they could remain in the hands of their consignors, in which case the effort resulted in a loss.
     There were no monster profits of the kind seen in earlier sales, with horses bought in the five-figure range bringing seven-figure prices at Barretts, but a number of the juveniles returned satisfying returns on their owners' investments.
     Anyone considering entering the pinhooking game would have no trouble seeing that it's a risky business.
     Here's the scorecard, showing the hip number, earlier purchase or buyback price, Barretts price, Barretts purchaser, and Barretts consignor. Buyback prices are shown in italics. Sex and sire of the horses aren't shown, but they can be found in the list in our Special Report #9 or, of course, in the sale catalog.
 
Hip # Bought For Sold For Barretts Buyer Consignor
1
$  41,000 $60,000 Art Sherman Havens
3
$100,000 Withdrawn   Woods
4
$  32,000 ($26,000) Not sold Kirkwood
5
$  45,000w
($60,000)
Withdrawn   B.C.3.
6
$  77,000w
($70,000)
$55,000 Willow Tree Farm, Inc. B.C.3.
7
$26,000 Withdrawn   Leppala
8
$52,000 $75,000 Sierra Sunset, LLC Wavertree
10
$10,000w Withdrawn   Havens
11
$240,000 ($340,000) Not sold Scanlon
12
$  72,000 Withdrawn   Wavertree
14
($77,000)
($32,000)
($10,000) Not sold Hebert
15
$  90,000 $90,000 Murayamna Bloodstock, Inc. B.C.3.
16
$130,000 Withdrawn   Elysian
17
$  20,000 $55,000 Dennis R. O'Neill O'Hara
18
$  20,000 $50,000 Pablo A. Suarez SAB
19
$  50,000 $85,000 Class Racing Stable Classic
20
$160,000 $400,000 Southern Equine Stables LLC Bailey
21
$325,000 $425,000 Larry Richardson, agent Bailey
22
$  16,000 ($10,000) Not sold NexStar
23
$  13,000 ($30,000) Not sold B.C.3.
24
$165,000 $310,000 Stonestreet Stables LLC Woods
25
($37,000) $50,000 Howard and Janet Siegel Brennan
26
$  95,000 ($100,000) Not sold Elysian
28
$  32,000 $80,000 Ernest A. Auerbach SAB
29
$145,000 $325,000 Stetson Land & Cattle Smith
30
$  45,000 Withdrawn   NexStar
31
$110,000 Withdrawn   Knight
32
$  65,000 Withdrawn   Hebert
33
($55,000) $190,000 Michael Shustek Stephens
34
$  90,000 ($50,000) Not sold Havens
35
$110,000 Withdrawn   Hebert
36
$  30,000 ($95,000) Not sold Hebert
39
$  50,000 $170,000 Duck River Farm B.C.3.
40
$450,000w Withdrawn   Bailey
41
$  50,000 $95,000 Peter Miller, agent Wavecrest
42
$  10,000 $45,000 Dennis R. O'Neill B.C.3.
43
$  32,000 $50,000 Arnold B. Zetcher, LLC Wavecrest
44
$150,000 Withdrawn   B.C.3.
45
$  70,000 ($45,000) Not sold Kirkwood
46
$120,000 Withdrawn   Brennan
47
$190,000 ($205,000) Not sold B.C.3.
49
$  85,000 $140,000 Murayama Bloodstock, Inc. Wavecrest
50
$  60,000 ($95,000) Not sold B.C.3.
51
$  77,000 $150,000 Narvick International, Inc. Smith
52
$130,000 Withdrawn   Elysian
54
$130,000 $300,000 G. Chris Coleman Scanlon
55
($35,000) Withdrawn   B.C.3.
56
$200,000 Withdrawn   Stephens
57
$150,000 $150,000 J. T. Thomason B.C.3.
58
$  50,000 ($14,000) Not sold NexStar
59
$  70,000 Withdrawn   Stephens
60
$  95,000 Withdrawn   Wavertree
61
$110,000 ($145,000) Not sold Kirkwood
62
$  32,000 $25,000 Kenly Farms, Inc. NexStar
63
$  45,000 Withdrawn   Hebert
64
$  20,000 Withdrawn   NexStar
66
$  75,000 $250,000 Vision Racing, LLC Stephens
67
$  21,000 Withdrawn   O'Hara
68
$  42,000 $100,000 John W. Sadler, agent Sequel
70
$130,000 ($275,000) Not sold Wavertree
71
($165,000) $200,000 Michael House Bailey
72
$  52,000 $450,000 Southern Equine Stables LLC B.C.3.
73
$  65,000 ($35,000) Not sold Kirkwood
74
($  47,000) ($70,000) Not sold Havens
75
$  29,000 $65,000 Arnold B. Zetcher, LLC O'Hara
77
$  90,000 Withdrawn   Brennan
78
$240,000 $390,000 Oscar Trevino Bloodstock, LLC Scanlon
79
$  38,000 ($65,000) Not sold Knight
80
($190,000) ($450,000) Not sold Kirkwood
81
$140,000 Withdrawn   Smith
82
$  30,000 ($72,000) Not sold Kirkwood
83
$  75,000 $110,000 Tom Grether Farms, Inc. Kirkwood
84
$115,000 Withdrawn   Wavertree
85
$  21,000 $60,000 Narvick International, Inc. Hebert
87
$  42,000 Withdrawn   B.C.3.
88
$  36,000 ($45,000) Not sold O'Hara
89
$    7,500 ($95,000) Not sold Hebert
90
$  25,000 $50,000 Peter Miller, agent Kirkwood
91
($65,000) $270,000 Mike J. Ryan, agent Kirkwood
93
$  70,000w Withdrawn   Hebert
94
$  92,000 ($290,000) Not sold B.C.3.
96
$325,000 $400,000 John W. Sadler, agent B.C.3.
97
$  37,000 ($85,000) Not sold NexStar
98
$  25,000 $30,000 Bienstock and Winner Stables Classic
99
$  47,000 $40,000 Terrell Jarrett, Jr. B.C.3.
100
($80,000) ($60,000) Not sold NexStar
101
$  75,000 $130,000 J. T. Thomason Knight
102
$  70,000 $60,000 David J. Lanzman Racing, Inc. Wavertree
103
$  54,000 ($42,000) Not sold NexStar
104
$100,000 ($190,000) Not sold Brennan
105
($75,000) Withdrawn   Elysian
106
$  82,000
($70,000)
($70,000) Not sold B.C.3.
107
$225,000 ($270,000) Not sold Woods
108
$190,000 ($280,000) Not sold B.C.3.
109
$  75,000 Withdrawn   B.C.3.
110
$  50,000 $100,000 Winstar Farm, LLC NexStar
111
$  32,000 ($125,000) Not sold SAB
112
$  40,000w
($57,0000)
($47,000) Not sold B.C.3.
113
$122,000 ($120,000) Not sold B.C.3.
114
$  11,000 $20,000 Ronald L. Smith Classic
115
$  20,000 $85,000 North Shore Racing, LLC Classic
116
$  50,000 Withdrawn   Sequel
117
$125,000 Withdrawn   Sequel
118
$  67,000 $50,000  Gary S. Broad Kirkwood
119
($30,000) ($65,000) Not sold Havens
120
$  16,000 $72,000 Buzz Chace, agent for West Point Thoroughbreds Classic
121
$440,000 Withdrawn   B.C.3.
122
$  22,000 $600,000 Mike J. Ryan, agent Scanlon
123
$  90,000 Withdrawn   Havens
124
$  20,000w Withdrawn   Brennan
125
$  37,000 $42,000 Serenity Oak Farm LLC Kirkwood
126
$125,000 $245,000 N. Fujioka Wavertree
127
$  22,000 $70,000 Jeff Mullins NexStar
128
$  50,000 $80,000 Carrol Castille Havens
129
$  80,000 ($20,000) Not sold B.C.3.
130
$100,000w Withdrawn   B.C.3.
131
$  37,000 $250,000 Moore Racing LLC B.C.3.
132
$  20,000 ($32,000) Not sold SAB
133
$200,000 ($47,000) Not sold B.C.3.
134
$  14,000 ($27,000) Not sold NexStar
135
$  26,000 Withdrawn   O'Hara
136
$  25,000 $75,000 Johnathan Mills, agent Kirkwood
137
$  20,000 ($27,000) Not sold NexStar
138
($285,000) $400,000 Larry Richardson, agent Bailey
139
$130,000 ($180,000) Not sold Elysian
140
$  80,000 $120,000 Bill Feeley NexStar
142
$150,000 Withdrawn   Leppala
143
$185,000 $190,000 Buzz Chace, agent for West Point
TB, Inc.
Scanlon
144
($48,000) Withdrawn   Leppala
145
$  30,000
($24,000)
Withdrawn   Hendricks
146
$  25,000 ($235,000) Not sold B.C.3.
147
$    5,000w Withdrawn   Havens
148
$150,000 $650,00 Stonestreet Stables LLC Brennan
149
$  20,000 ($45,000) Not sold Sequel
150
$  67,000 $120,000 Michael Shustek Kirkwood
152
$140,000 ($40,000) Not sold Bailey
154
$200,000 $320,000 Sierra Sunset, LLC Smith
155
($75,000) ($85,000) Not sold Scanlon
156
($125,000) ($30,000) Not sold NexStar
157
$165,000 Withdrawn   Smith
158
$  80,000 $250,000 Murayama Bloodstock, Inc. Wavertree
159
$  85,000 $60,000 George Papaprodromou Scanlon
160
$  50,000 ($27,000) Not sold Hebert
162
$  80,000 ($145,000) Not sold Kirkwood
163
$  21,500 Withdrawn   Ford
165
$  62,000 $170,000 D & E Racing, LLC Kirkwood
166
($20,000) $60,000 Narvick International, Inc. SAB
167
$300,000 Withdrawn   Bailey
168
$  65,000 ($80,000) Not sold B.C.3.
169
$210,000 $800,000 Stonestreet Stables LLC Bailey
171
$145,000 $250,000 Carrol Castille Hebert
172
($47,000) Withdrawn   Smith
173
$50,000 Withdrawn   Elysian
174
$  90,000 $120,000 Narvick International, Inc. Wavecrest
175
$  12,000 Withdrawn   SAB
176
$100,000 Withdrawn   Scanlon
177
$  13,000w $50,000 Mark Glatt, agent Sequel
178
$180,000 ($160,000) Not sold Woods
179
$  15,000 $52,000 Dennis R. O'Neill Kirkwood
180
$510,000 Withdrawn   B.C.3.
181
$120,000 $380,000 Omar Trevino Bloodstock, LLC Brennan
182
$  32,000 ($45,000) Not sold B.C.3.
184
$   9,500
($24,000)
$90,000 North Shore Racing, LLC SAB
185
$  75,000 ($70,000) Not sold B.C.3.
187
$  50,000 ($50,000) Not sold Kirkwood
188
$100,000 Withdrawn   Scanlon
189
($70,000) ($95,000) Not sold B.C.3.
191
$147,000 $410,000 Hoods Up Stables Wavertree

     Key to consignor abbreviations:
Bailey = Jerry Bailey Sales Agency, agent 
B.C.3. Thoroughbreds, Agent = B.C.3 
Brennan = Niall Brennan Stables, Agent 
Classic = Classic Bloodstock, Agent 
Elysian = Elysian Bloodstock, Agent 
Ford = Jeff Ford, Agent
Havens = Havens Bloodstock Agency, Inc., Agent 
Hebert = Hebert Bloodstock, Agent
Hendricks = Sam Hendricks, Agent
Kirkwood = Kirkwood Stables, Agent 
Knight = Mary Knight, Agent
Leppala = Ricky Leppala, Agent
NexStar = NexStar, LLC, Agent
O'Hara = John O'Hara, Agent 
SAB = SAB Training (Scott A Bergsrud), Agent 
Scanlon =  Scanlon Training Center, Agent
Sequel = Sequel Bloodstock (Becky Thomas), Agent
Smith = Murray Smith, Agent
Stephens = Stephens Thoroughbreds, Agent 
Wavecrest = Wavecrest Thoroughbreds 
Wavertree = Wavertree Stables, Inc. (Claran Dunne), Agent
Woods = Eddie Woods, Agent 
 

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