"The bottom of the Market is Behind Us."
"The bottom of the market is behind us," said PAS Director of
Marketing Tim Jennings. "These are the first signs of the recovery."
Jennings believes that window to get great buys in the horse
market is closing. "Nobody is throwing their money around yet.
People are still looking for bargains and that is driving them to shop
at our auctions. I think that we will see a spike in auction prices of
nicer horses over the next several months." Based on recent activity
and price gains it appears that the recovery has begun. Average
prices in the second quarter of this year rose 13% when compared
to the same sales held in 2008. That is a dramatic contrast to
average prices in the first quarter of 2009 which fell 22% when
compared to the same sales in 2008.
The recession in the horse world started early in 2008. Prices and
activity slowly weakened for 8-1/2 months. In late August the
decline began to accelerate and the bottom fell out in late
September. For six months the horse economy suffered at the
bottom of its worse recession since the early 1980s.
Market data provided by
Professional Auction Services, Inc.
"The bottom of the market is behind us," said PAS Director of
Marketing Tim Jennings. "These are the first signs of the recovery."
Jennings believes that window to get great buys in the horse
market is closing. "Nobody is throwing their money around yet.
People are still looking for bargains and that is driving them to shop
at our auctions. I think that we will see a spike in auction prices of
nicer horses over the next several months." Based on recent activity
and price gains it appears that the recovery has begun. Average
prices in the second quarter of this year rose 13% when compared
to the same sales held in 2008. That is a dramatic contrast to
average prices in the first quarter of 2009 which fell 22% when
compared to the same sales in 2008.
The recession in the horse world started early in 2008. Prices and
activity slowly weakened for 8-1/2 months. In late August the
decline began to accelerate and the bottom fell out in late
September. For six months the horse economy suffered at the
bottom of its worse recession since the early 1980s.
Market data provided by
Professional Auction Services, Inc.
