Pinhookers Enjoy Success With a Wider Range of Horses

Pinhookers' rate of return on investement (ROR) fell to a measly 30% during 2009's five major select sales of 2-year-olds in training, which were conducted by Barretts, Fasig-Tipton, Keeneland, and the Ocala Breeders' Sales Co. This year, the ROR for the same auctions rebounded to 70%.

But that wasn't the only interesting change in pinhooking statistics.

Looking at the results based on yearling price range reveals that pinhookers enjoyed success with wider variety of young horses based on their purchase prices.

Last year, pinhooked horses purchased for $20,000 to $29,000 generated the greatest ROR, 149%. The next-highest ROR, 69%, came from the $0 to $19,000 price range.

This year, the highest ROR, 115%, was again found in the $20,000 to $29,000 range. But five other yearling price ranges produced RORs of 70% or more. They were $0-$19,000 (73%), $40,000-$49,999 (70%), $50,000-$74,999 (72%), $75,000-$99,999 (93%), and $200,000 plus (70%).

The results should give pinhookers more confidence in shopping at the upcoming yearling sales at a wider range of prices and the $200,000 plus results might inspire them to spend their money on more expensive horses. But there also is plenty of incentive to search for prospects with more modest values.

This year, 56% of the pinhooked juveniles offered that were purchased as yearlings for $200,000 or more were profitable. The only price range that yielded a higher result was the $20,000 to $29,000 bracket, where 61% of the horses offered as 2-year-olds were profitable.

The full 2010 results were published in The Blood-Horse of May 1, page 1407. Eight different price ranges appear in the chart.