Keeneland Auction Azeri, Island Fashion

[Scav]

Originally Posted by Riot

Because I thought 4.4 million a reasonable reserve.

Obviously I was wrong

I am not saying your opinion is wrong, but I don't see how 4.4 million is reasonable for a horse of the year, in foal to a horse of the year.

I agree that all the quotes in the media made it sound like she was going to sell though

[Riot]

Originally Posted by Scav

I am not saying your opinion is wrong, but I don't see how 4.4 million is reasonable for a horse of the year, in foal to a horse of the year.

I agree that all the quotes in the media made it sound like she was going to sell though

She's 11, for one. Even if she is a HOY.

[Scav]

A full 2 year old sister to Island Fashion just went for only 65k, that is insanely low for her breeding

[Danzig]

Originally Posted by Riot

She's 11, for one. Even if she is a HOY.

that's true....it cost island fashion, who is 'only' 9 compared to azeri. knocked her value in half from just a couple years ago.
one would have to think tho that her value, coupled with the prospective foal, would still mean being worth more than the highest bid today.

he should have sold her last september.

[Riot]

From Paulson Report:

AZERI FAILS TO SELL AGAIN…$4.4M

<snip>

... but just as in November left a pavilion full of puzzled looks from spectators as she was led out of the ring. Leading up to the sale John Sikura, who consigned Azeri on behalf of owner Michael Paulson through his Hill ‘n’ Dale sales agency, was confident the mare would be sold. Sikura was one of the bidders, telling reporters he was active up until $4 million for his own interest, but said he was not certain what the reserve price was.

Another bidder was agent Paul Shanahan acting on behalf of Coolmore Stud. Shanahan bid at least $3.5 million for the mare. It isn’t clear if there was a live underbidder.

[smuthg]

Originally Posted by Riot

She's 11, for one. Even if she is a HOY.

what's the "reasonable" timeframe for a mare to effectively produce? I would think even at 11, she's good for 3 or 4 more...

[Linny]

Because she raced through age 6 Azeri is well behind in terms of production. By this age most mares have foals at the track, even in the shed. She's 11 and has no quantifiable production record because she has no foals to race. (I think she was barren at age 7.) She could reasonably be expected to produce 4 or even 5 more foals but if the first two don't pan out, how much will you get for the ones you breed out of her.

Despite her exceptional career, right now Azeri is an 11yo mare with no production record and average breeding. Yes, she's a legend (I was a huge fan) but when it comes to dollars and cents, you have to be analytical.

As for those little foals, I always feel bad for babies like that. Poor little things are a few days old and standing in the sales ring after having to stand there in the January cold wondering what the he!! is going on. They are cute though. At least the buyer gets to look over the baby they are getting.

[Danzig]

http://www.drf.com/news/article/101007.html


an excerpt:



Earlier this year, Paulson - son of the late Allen Paulson, Azeri's breeder and owner - bought back Azeri's A.P. Indy colt, Vallenzeri, for a record buy-back price of $7.7 million at the Keeneland September yearling sale. Although Paulson had solicited private offers after the auction, he now has the colt entered in Keeneland's April 2-year-old sale with consignor Eddie Woods.
Asked whether Vallenzeri's $7.7 million buy-back might have dampened buyers' confidence that he was serious about selling Azeri, Paulson said: "I can't speak for other people, but, obviously, if they were in my shoes and had a living female Horse of the Year, the only three-time Eclipse Award-winning older mare champion ever, they would be in the same position I was in. I adjusted our reserve to reflect the market, but she has a value, and I was going to let her go for extremely good value, but unfortunately we're victims of the global financial market."

Paulson indicated Monday that banks that hold Azeri and other horses in the Allen E. Paulson Living Trust as collateral had significant input on Azeri's reserve. Paulson said he is trying to "get it into position where we can wrap up the trust business in the next year and a half."

That means all of the trust's horses will have to be sold in that time frame, he said.

[freddymo]

I would rather an Azeri then an Ashado... Ashado sold for like 8plus mil and she couldn't eat out of Azeri's feed bucket on her best day

[Kasept]

Originally Posted by Scav

A full 2 year old sister to Island Fashion just went for only 65k, that is insanely low for her breeding

Note that she's also a full sister to the winless (4/0-0-0, $2,739) 6yo Tables Turned; the 8/1-0-0 ($11.700) 8yo Flash of Fashion; unraced 4yo and 3yo Big Shoes and Fame and Fashion.

$65,000 looks like a terrific number for a Petitionville 2yo in this market considering Island Fashion appears to simply be a freak out of an otherwise totally unproductive mare.

[Danzig]

Originally Posted by freddymo

I would rather an Azeri then an Ashado... Ashado sold for like 8plus mil and she couldn't eat out of Azeri's feed bucket on her best day

but i think you could make a better argument for ashado's pedigree than azeri's. i'd take a saint ballado over a jade hunter any day.
azeri would have sold for that amount a year ago. now, a year older, and the market's in the tank...

[freddymo]

Originally Posted by Danzig

but i think you could make a better argument for ashado's pedigree than azeri's. i'd take a saint ballado over a jade hunter any day.
azeri would have sold for that amount a year ago. now, a year older, and the market's in the tank...

DrugS and I bred are Tiznow mare to a St B Stallion so you don't have to pitch anything Halo to me but Ashado was a paper champion Azeri was beast.. Jade Hunter or not I still believe in Azeri over perhaps the most fortunate multiple G1 winner of all time

[Danzig]

Originally Posted by freddymo

DrugS and I bred are Tiznow mare to a St B Stallion so you don't have to pitch anything Halo to me but Ashado was a paper champion Azeri was beast.. Jade Hunter or not I still believe in Azeri over perhaps the most fortunate multiple G1 winner of all time

by saying i think the one is better bred takes nothing away from the accomplishments of the other-azeri. he just chose the wrong time to try to sell her. and i bet you and i both could find more fortunate gr 1 winners than ashado!

[eajinabi]

There is absolutely no money to be had in Breeding

[dellinger63]

How much money have the Paulson's spent in no sale fees on Azeri and does the government tax those fees?

[dellinger63]

Originally Posted by eajinabi

There is absolutely no money to be had in Breeding

and that is 2009's 1rst nomination for a Nerdy Award

[Linny]

Azeri beats Ashado on the track but I think Ashado could be a better breeding prospect, based on her pedigree. How many outstanding mares have there been that far outraced their pedigree but that were nearly worthless in the shed. Would you rather have a WinningColors or a Personal Ensign foal? How about Lady's Secret? Gimme the PE every time, she had the class in the pedigree and on the track.

Also, when Ashado sold (in a far better market) she was a young mare, just off the track at age 4. Assuming she produces 4 foals every 5 years til about age 20, the buyer can expect 12 foals from her if he keeps her for life. Azeri (selling in a poor market) is 11, with far fewer potential foals and a slightly weaker pedigree.

If I were an egotistical jillionaire, I'd buy Azeri because I always was in awe of her and pride in owning her would mean more than price to me. As a business prospect however, Azeri has some downside at the apparent asking price.

[RolloTomasi]

Originally Posted by Linny

Would you rather have a WinningColors or a Personal Ensign foal? How about Lady's Secret? Gimme the PE every time, she had the class in the pedigree and on the track.

The problem is you don't see mares like Personal Ensigns go through the sales ring too often.

[VOL JACK]

Originally Posted by Riot

Because I thought 4.4 million a reasonable reserve.

Obviously I was wrong

Just my opinion from afar but, Michael Paulson seems like a real D*bag. The guy uses these sales for an ego trip.

[Linny]

Very rare, though the Phipps' bought Our Country Place who became the founder of the family that is named after exclusive places where the rich congregate. Pine Island, Resort, Country Hideaway, Matlacha Pass, Pleasant Home, Boca Grande etc.
Our Country Place may have been unraced, but they sure bought a gem.

Usually that kind of mare sells with a race record only when someone dies or if she proves a failure in the shed. Mares like Lady's Secret or Winning Colors sold because their racing owners diesd or disbursed. Of course, once they proved mortal in the shed, it was open season and there is always someone looking to "own a part of history."
The idea was that extremely good mares who are far better than their own families, rarely produce much. They are "freaks." Top mares from top families offer no guarantee (Inside Information) but are a better risk, IMO.