From Emily Boyer, Kentucky Public Radio/WEKU, Richmond
Thoroughbred sales at Keeneland are feeling the pinch of the poor economy.
Yearling sales that ended Monday totaled about $190 million, down from last year’s $313 million. Spokespeson Jim William says Keeneland saw even less revenue because of a reduced commission rate. Williams says normally the rate is the lowest world-wide at 4.5 percent.
“This year we reduced the commission on what we call RNA’s or horses which fail to reach their reserves to two and a half percent. It most certainly helped those consigners that were not able to sell their yearlings,” Williams said.
Just under 5,200 yearlings were registered for this year’s September sale. Williams says about 3,000 were sold. The average sale price was around $60,000.