In many respects buying Thoroughbreds at auction is the trickiest part of the trade. The Thoroughbred marketplace is all about selling you a horse but not necessarily a good one. According to statistics provided by Jockey Club for 2007, some 10,160 Thoroughbred yearlings were sold in a foal crop that numbered approximately 37,500 foals. That 25-27% ratio of yearlings sold per foal crop has been relatively constant over the last few years. In 2007 the average yearling price was $55,300 and the median yearling price was $15,000 while in that same year, the average earnings per runner totaled $16,180. Any investor knows that purchase costs will not reflect the entire cost of the investment -- Factor in the additional veterinary and training costs required to campaign a runner and you begin to realize the Thoroughbred horse business is populated by more than a few beautiful dreamers.
There are thousands of pages and even entire videos dedicated to explaining how one should purchase Thoroughbreds at auction and I think the informed investor should spend time learning about the process. It should also be noted that regardless of how much the new investor studies, most Thoroughbred buyers are never going to transform themselves into the second coming of Wayne Lukas or Bob Baffert. To make the prospects of success even more daunting, the folks that sell Thoroughbreds commercially have a great number of tools at their disposal that make the process even more difficult when finding a truly good one is the goal.
There really is no substitute for employing a knowledgeable, proven bloodstock agent when it comes to purchasing racing or breeding stock. Examining past sales purchases and subsequent returns of income are the best measure of performance. Pictured below are some of the successful purchases I have made at auction for clients. Star of the North Bloodstock abides by the Code of Ethics established by the Thoroughbred Owners and Breeders Association's Sales Integrity Task Force. You can read more about the recommendations of the task force at: 
http://www.salesintegrity.org/
Purchased for a mere $6,000 as a pinhook prospect for Kevin Lay’s Triple B Stables, the Mecke filly that came to be named Igloo beat colts in a $25,000 maiden special weight contest at Mountaineer in her first career outing.
Purchased for $5,000 on the second last day of Keeneland September 2004, the Birdonthewire filly that came to be named Texas Cowgirl was an open allowance winner and earned a stakes placing in the Lakeway Stakes at Retama Park. Here she is pictured winning on Memorial Day at Lone Star in 2006.
Star of the North has also had success advising clients at regional sales, including the annual Minnesota Thoroughbred Association Yearling Auction where Northern Lights winner Wild Shifter was purchased for client David Hansen for $12,000 in 2006.
Star of the North has also enjoyed success buying breeding stock and racing prospects at the winter sales. Academic Lass was purchased as a racing prospect for the Winchester Place Farm of Robert and Lorie Michaels at Keeneland January 2005. A full sister to a Graded Stakes winner of $455,000, Academic Lass is pictured here after winning in a maiden special weight contest at Canterbury Park. Academic Lass is now part of the Winchester Place broodmare band.
These runners were selected using a combination of pedigree analysis and physical inspection that are uniquely mine and demonstrates potential performance for other investors. Star of the North Bloodstock has demonstrated the ability to select race-winning stock in parts of the market that don't necessarily yield productive runners. A thorough understanding of pedigree and knowing what conformation faults can be overcome are keys to successfully navigating the Thoroughbred marketplace. I invite your consideration of the Star of the North Bloodstock agency when you contemplate your next "journey" through the sales.
