Arabian Gold Rush T e April 29 seizure of 136 malnourished
Polish Arabians from Canterbury breeding farm on the Eastern Shore of Maryland has brought an uncomfortable spotlight on not only the equine breeding business in general, but on the Arabian business in particular. Horse own- ers not familiar with the crazy 40-year roller- coaster ride of the Arabian market have scoff ed at the estimated value of $30,000 for some of the horses, a fi gure tossed out by wel- fare and rescue organizations involved, as well as some breed enthusiasts. For still others, an estimated value of $30,000 is not impressive. If anything, it is modest.
All of this speculation about the value of any individual Canterbury horse is just that: speculation. T ere is one fool- proof way to determine the value of any horse at any given moment, and that is what someone is willing to pay for said horse at that given moment. At T e Equiery, as at all horse publica- tions, we see horse owners and dealers play the “my horse is worth” or the “my horse will be worth” game every day. “I bought my horse for $5,000 three
years ago, but now he is worth $20,000 because I have three years of board, training and vet and farrier expense into him.” “I bought my horse as a three-year- old for $2,500 four years ago, but now that he is seven and I have been rid- ing him for four years, he is worth $15,000.” “He has the potential to be a great XYZ…so he is easily worth $25,000.” “When my horse has another three months of training on him, I should be able to get $35,000, so I will ask $35,000 for him now.” Savvy brokers and trainers know that when
they have a solid cash off er in hand, they take it. It does not matter if, after next week’s show, the horse could be worth double that, because there is equal chance that the horse could be injured the following week and worth even less. Nevertheless, bloggers, tweeters, facebook- ers and chat room junkies all around the inter- world have asked where and how that $30,000 for a Canterbury Polish Arabian was calculated. If we take a look at the rise and fall of the
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U.S. Arabian breeding and sales market over the last 40 years, it perhaps puts into context what seems to some to be crazy dollar fi gures. Perhaps it will also provide the framework for understanding a situation as seemingly absurd as the Canterbury situation appears to be on the surface…150 horses? Continuing to breed,
despite the crash of the economy? Why would anyone do that?
The Arabian Emigrates to the U.S.
First imported to America in the mid-1800s, Arabian horses gained widespread attention during the 1893 Chicago World’s Fair, where Turkey exhibited 45 horses, two of which be- came the fi rst and second entries in the fi rst
A Profi table Investment
T e Rise and Fall of the Arab Market
to other sources the Arabians were the second largest breed category).
The U.S. Market Is Established In the 1940s and 1950s, importations slowed
In 1963, the LeCroix family, owners of Lasma Arabian Stud in Scottsdale, AZ, imported the Polish Arabian stal- lion *Bask, one of only a handful of stallions to later win National Championships in both halter and performance. His stud fee in 1963 was a modest $500, but rose to $10,000 by 1975. *Bask ultimately sired 1,046 horses, 194 of which were national winners. In 1973, movie director Mike Nich- ols purchased a *Bask daughter for $117,000.
Arabian studbook in America. Growth of the breed accelerated in 1906 when a gentleman named Homer Daven- port imported 27 Arabians. Soon U.S. breed- ers formed the Arabian Horse Club. With 71 horses registered, the club was recognized by the United States Department of Agriculture as the offi cial keepers of the Arabian studbook. In the late 1920s and early 1930s, W. K. Kel- logg and Roger Selby imported horses from England’s Crabbet Stud and established breed- ing programs. Arabs were also being imported from Egypt, Spain and Poland. During this period, Arabians were touted as the epitome of the cavalry mount, an opinion backed up by the breed’s dominance in the Cavalry Endurance rides. T e U.S. Army began breeding them with donated animals and by 1943 had a sizeable Arabian herd (according to the Arabian Horse Association, the Army had more Arabians than any other breed; according
as U.S. breeders established their own lines. Upon the dispersal of Crabbet Stud in 1957, imports picked up once again. T is activ- ity, combined with horses coming out of post- WWII Europe, began a new phase in Arabian breeding in the U.S. T e International Arabian Horse As- sociation, separate from the Registry, was founded in 1950 to sanction horse shows, develop rules and license judg- es. T ey became an affi liate of Ameri- can Horse Show Association (today the United States Equestrian Federa- tion) and also purchased the Half- and Anglo-Arabian studbooks. T e 1960s were a good time for Arabians in the U.S. Crabbet-bred horses were hugely popular as show, performance and pleasure horses, with Marylander Bazy Tankersley of Al- Marah at the forefront. Ironically (and sadly), says former Arabian breeder Peggy Ingles, “these domestic Arabs would later be called “plain” or “coarse” by the people who created the market- ing hype behind the more exotic and imported Polish, Russian and Egyptian horses. Only time has proved the value of these domestic mares’ contribution of soundness, sturdiness, athleticism and temperament to the resulting off - spring.”
Shooting Stars
Just about every business model dreams about having just the right high-profi le personal- ity invest in its stock or purchase its product. Today, famous people make their money lever- aging their fame via publicists who make en- dorsement deals.
But in the 1960s horse world, you just hoped that the right buyer, the right owner would come along that would propel your training business or breeding farm into the stratosphere. In 1969, the Arabian world got that when
singer Wayne Newton purchased his fi rst Ara- bian, the imported Russian stallion *Naborr, for the then record sum of $150,000. Oscar-win- ning Hollywood director Mike Nichols started breeding Arabians in 1970. And then suddenly, just like that, the Ara- bian market took off ; a tipping point had been
continued... AUGUST 2011 | THE EQUIERY | 37
Arabian Horse World Magazine
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