Honor Code question

[ThreeMustangs]

He didn't do that bad in the 2yo sales this year, his average is slightly higher than last year, however his median price is lower. He had a 300k 2yo, last year his highest was 320k. The rest that sold were all 90-100k, with 2 RNAs around 150k, and the one was 32k. Plus I don't think the ones in the sale had particularly strong female families, you have to go back to the 3rd dam of most of them to find a GSW.

I actually think its was decent results for him compared to his 2019 yearling sales. I feel the real judge on if owners have gone off a stallion is his yearling sales so in a few months we'll see. He just needs to keep getting new Stakes winners and he needs his current SWs to keep winning.

Also, haven’t the averages been lower in general for the 2yo sales this year?

[Flanders]

He didn't do that bad in the 2yo sales this year, his average is slightly higher than last year, however his median price is lower. He had a 300k 2yo, last year his highest was 320k. The rest that sold were all 90-100k, with 2 RNAs around 150k, and the one was 32k. Plus I don't think the ones in the sale had particularly strong female families, you have to go back to the 3rd dam of most of them to find a GSW.

I actually think its was decent results for him compared to his 2019 yearling sales. I feel the real judge on if owners have gone off a stallion is his yearling sales so in a few months we'll see. He just needs to keep getting new Stakes winners and he needs his current SWs to keep winning.

Also, haven’t the averages been lower in general for the 2yo sales this year?

Yes the OBS sale they said it was off about 20% from last year.

[Slewfan2]

He didn't do that bad in the 2yo sales this year, his average is slightly higher than last year, however his median price is lower. He had a 300k 2yo, last year his highest was 320k. The rest that sold were all 90-100k, with 2 RNAs around 150k, and the one was 32k. Plus I don't think the ones in the sale had particularly strong female families, you have to go back to the 3rd dam of most of them to find a GSW.

I actually think its was decent results for him compared to his 2019 yearling sales. I feel the real judge on if owners have gone off a stallion is his yearling sales so in a few months we'll see. He just needs to keep getting new Stakes winners and he needs his current SWs to keep winning.

That’s true - I doubt the OBS babies were his best. I’m ok with that, actually, as I really don’t need to see his babies pushed to go 9 and 10 second furlongs (the consignors always say the horses are doing it on their own, but if that’s the case, why don’t we ever see babies work in 33 and 34 when they start working for races?)

Anyway, I agree with your last point - horse people are not going to spend big bucks on inconsistent sires. It still just boggles my mind that they jumped off his bandwagon so quickly when the latest but yearling sales - September - were held just barely past the summer of his freshman season. His yearlings were probably still good looking, I assume. Ok, I’m not saying he should have had big bucks yearlings, and clearly this is not something that has happened only to Honor Code, but when his first yearlings sold, and then when trainers had his two year olds, pretty much everyone said they’d be late developing. I think the way sires have to throw very quick babies, even if they really weren’t expected to, is unfortunate.

Anyway, if he keeps doing well, things will take care of themselves.....

[Slewfan2]

Here an article that actually addresses what we’ve been discussing. This is just one section, but there’s more:

If the market’s absurd impetuosity put Liam’s Map in the greater demand this spring, Farish is confident that Honor Code’s “incredible books in years one, two and three” will consolidate and sustain the gains he is making now. Certainly it isn’t hard to picture Honor Code elevating his fee far beyond its current level in years to come. Because here is a living, breathing exemplar of the basic tenets on which this whole business achieves its viability.

https://www.thoroughbreddailynews.com/h ... etic-code/