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DESPITE THE TURMOIL;
HORSES REMAIN ONE OF THE FEW GAMES IN TOWN
The outcome of last weekend’s Emperors Palace National Two Year Old sale must have been heartening even to the gravest of pessimists. To be a mere 2% down at a time when the world is upside down, is a miraculous outcome, even if it was off a slightly lower base following last year’s drop of 2%. As a local horseman, you’d have to be heartened by this news, and reinforced in faith, particularly as we’re mating our mares right now for the 2012 sales, by which time the world will be firmly back on its axis.
The economic wobbles internationally have also had little impact on the French national sale conducted by Arqana at their charismatic Deauville complex. The first day, they were 12% up on last year (which was already a strong performance), and the subsequent two days were, given the fact they were “softer” in cataloguing terms, down only slightly on that. Overall, the French registered a positive result (7.1% up) in a country (and an environment in general) which has been harder hit by the current recession than most.
What it tells us, is that as long as racing remains reasonably healthy and capable of meeting its prize money obligations to its customers pretty much at previous levels, there are still horsemen around willing to pay the price to play the game.