WITH another yearling sale under our belts, the continuing trend at bloodstock sales generally is that the numbers of horses on offer are increasing, but the number of buyers is not. This is leading to a wider gap between the better stock and those at the bottom, though selectivity is not a new or recent phenomenon.

While the standard metrics at the sales in Europe are tending to be down in value, there are many signs that the market for the better horses is not softening. Nice horses continue to make good money, while buyers are still faced with many yearlings in the coming weeks and are not in a hurry to buy too early unless they perceive there is value and quality to be had.