eight-mile

In the Money: Futurity Prospects

eight-mileEight Mile is one of 556 horses entered in the first go-round of the Open at the NCHA Futurity. The stallion was the highest seller at the 2014 NCHA Futurity 2-Year-Old Sale. • Photo by Jim Arnold

One of the biggest and most common dreams in the Western performance horse industry is to win “the big Futurity.” If you’re a cutter, that’s the National Cutting Horse Association (NCHA) Futurity in Fort Worth, Texas. The show starts on Thursday, Nov. 19, with 556 3-year-olds entered in the first go of the Open.

Quarter Horse News compared those 556 Open horses with the sale results from the past three years and found that 160 head went through horse sales between 2012 and 2015, not including horses that were sold as foals in utero in 2011 or early 2012. Several horses sold multiple times, while others were offered only once and returned to their owners when the final bids failed to meet the reserve prices.

If you’re curious what it took to buy an NCHA Futurity prospect, keep reading.

2015 NCHA Futurity

Of the 556 head entered in the Open first go:

  • 160 were offered at public auction
  • Gross sales on those 160 head were $6,232,100 ($7,675,200 if you count the horses that sold twice)
  • The highest price paid was $400,000
  • The lowest price paid was $1,950
  • 15 were buybacks (reserve not attained, RNA) for a total of $657,000
  • The RNA average was $43,800 and the median was $19,000
  • The highest RNA price was $155,000
  • The lowest RNA price was $9,000
  • No RNA horses went through a second sale
  • Net sales (excluding repurchases) were $5,575,100
  • The net average was $38,449 and the median was $22,000

IntheMoney chart1Of the 145 horses that were completed sales:

  • 24 were offered at a second sale
  • Those 24 head netted $646,700 in their first sale and $1,443,100 in their second sale
  • The first sale average was $26,946 with a median of $22,000
  • The second sale average was $60,129 with a median of $46,000
  • Nine horses were RNAs in their second sale
  • Seven horses sold for less the second time around, with one RNA

IntheMoney chart2Sold as 3-year-olds:

  • Eight of the 160 Open horses in the first go were offered for the first time as 3-year-olds in 2015
  • Of those eight, one was bought back (for $19,000)
  • The net average was $59,000 and the median was $26,000
  • Two 2-year-olds that sold in 2014 were offered again in 2015; Both sold – one at a profit and one at a loss.

Sold as 2-year-olds:

  • 28 of the 160 Open horses in the first go were offered for the first time as 2-year-olds in 2014.
  • Three were repurchased (for $145,000, $44,000 and $18,000).
  • The net average on 2-year-olds sold was $64,548 and the median was $40,000.
  • Three head were offered at a second sale – one later in the year and two in 2015; Only one was resold at a profit.

IntheMoney web NC01 ASmoothSatinDoll 13JAA Smooth Satin Doll sold as a yearling in 2013 for $210,000. The filly will compete in the first set on Saturday, Nov. 21, during the Open first go-round at the NCHA Futurity. • Photo by Jim Arnold

Sold as yearlings:

  • 121 of the 160 Open horses in the first go sold as yearlings
  • 11 head were repurchased, and none of them went through a second sale
  • Net sales on the 110 horses sold were $3,521,450
  • The net average was $32,013, with a median of $20,500
  • 21 head went through a second sale, with only one of those reselling as a yearling
  • Of the 20 head that sold twice, nine were repurchased the second time
  • The best pinhook was a $5,200 yearling who sold for $300,000 as a 2-year-old. One other pinhook resulted in a profit of more than $100,000, when a $40,000 yearling sold for $147,000 as a 2-year-old.

Sold as weanlings:

  • Three horses were sold as weanlings in 2012
  • None of the weanlings were repurchased
  • The cheapest horse sold ($1,950) was a weanling; The other two weanlings sold for $5,000 and $20,000

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