Arabian Gold Rush, continued
achieved, and Arabians were the hottest fad around, the must-have piece of art and status symbol for celebrities, the rich, the famous, and the wannabes. In 1968, the top auction price for a top-qual-
ity Arabian was $25,000. In 1970, the average price was $30,000 and by 1985, the average price would jump to $478,000, and in between, numerous breeders tried to hitch their wagon to this shooting star.
Scottsdale: Studio 54 for the Arab Market
Centered around Scottsdale, Arizona, a town famous for its prestigious Arabian show and state-of-the-art breeding facilities,
breeders
such as the LeCroix family, owners of Lasma Arabian Stud, and a few others began con- ducting Arabian sales peddling their show and breeding stock to the public. Arabians of Polish breeding were Lasma’s
specialty. T ey were not only beautiful and cor- rect, but incredible performance horses who dominated the English Pleasure (saddle seat) and Park Horse classes. It started with the im- portation in 1963 of *Bask, a Polish Arabian owned by Lasma and 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. At Lasma’s fi rst sale in 1971, 27 horses sold for an average of $19,000 each, with a *Bask daughter topping the sale at $56,000. In 1973, Mike Nichols was high bidder of the sale with his purchase of another *Bask daughter for $117,000.
In the 1980s, there was a deliberate (and some
say brilliant) marketing push to get new owners interested in Arabian horses as an investment.
T ey were exotic, exquisite and rare–an attractive combination to the wealthy. T e tax advantage of horse ownership was the icing on the cake. T ese marketing strategies targeted the rich and famous, promoting the Arabian as “liv- ing art.” T e tax laws during this period allowed for complete depreciation of the cost of a breeding horse within fi ve years of ownership. Investors sought not only the tax advantages, but also the status symbol of Ara- bian horse ownership. Prospective buyers were wined and dined, attended seminars extolling the fi nancial advantage of investing in Arabian horses, and treated like royalty. It was an exclu- sive club that was promoted as elite and elegant and it attracted buyers like fl ies to honey. T e auctions themselves were opulent af-
fairs, with performances by famous musi- cians, such as Sammy Davis, Jr., Kenny Rog- ers, Olivia Newton John, the Beach Boys and the Pointer Sisters. T e LeCroixs had created an atmosphere that others emulated, with fog machines, high-tech lighting, and plush are- nas that showcased their beautiful horses. At the height of the buying fever, Lasma would award a brand-new Cadillac to the highest bid- der at each sale. It is said that perhaps the high seller and its price was decided in advance, with shills in the audience helping to achieve this predetermined goal. In many instances, a mare
would be sold as a three-in-one package: the mare with a foal at foot with another breeding or already pregnant, making her ridiculous cost look like a bargain.
Arabian horses were fi rst introduced to the U.S. by Turkey during the 1893 Chicago World’s Fair.
Frequently, horses that were top sellers didn’t even change hands after the auction. T ese were scenarios known as “trad- ing paper.” Deals were done this way to create excitement and encourage more bidding. Keeping up with the Joneses was defi nitely a driving force. T e farms holding the auc- tions got a 20% or better commission on each horse sold, plus they required that the horse be boarded, con- ditioned and trained for the three or four months prior to the sale at their facility. At
some point during this unprecedented buying frenzy, banks became interested in the fi nanc- ing of these huge purchases, whereas before, sellers held the notes. T is opened up a whole new aspect of the market whereby sellers re- ceived their money more quickly and buyers only needed 20% cash as a down payment. Once they bought a big-name horse, the sellers
were sure to get buyers’ photos with the horse in all of the newspapers and magazines. At the big shows, the owners were treated to parties, pri- vate viewing boxes and more photo ops. It was a heady time and these guys knew how to bring the fun coupled with the accolades. In order to continue making a profi t, a steady
infl ux of new owners was necessary. Most were not horsemen, so this created a dependency on the trainers that continues today. Coupled with trainers becoming judges, a new dynamic was continued...
ATTENTION STALLION OWNERS! Stallions will be featured in the January Horse World Expo
January issue with bonus distribution at Horse World Expo! Here are some helpful tips to best market your stallion.
1) Update your photos: Don’t wait until his winter coat comes in to take his picture. Call The Equiery for a list of photographers to help you make your horse look his best.
2) Plan your marketing campaign: The Equiery can help you navigate multi-media marketing & design a plan to maximize your investment. The Equiery connects people through web and print media.
3) Contact mare owners: Nothing sells a stallion better than the success of his offspring. Has one of your stallion’s get been featured in an Equiery sporting column?
4) Make or Update Your Website: Now is the time. The Equiery can help you nd a web designer to suit your budget.
5) Contact The Equiery Today! The Equiery can help you with all of the above. 1-800-244-9580 •
info@equiery.com •
www.equiery.com
38 | THE EQUIERY | AUGUST 2011 800-244-9580 |
www.equiery.com
837613-110811
MARYLAND’S SOURCE OF EQUINE INFORMATION SINCE 1990
DECEMBER 2008
MARYLAND’S SOURCE OF EQUINE INFORMATION SINCE 1990
AUGUST 2008
20 G Stallion Issue 2008 Maryland Stallion of Distinction
Mokhieba • 1980-2005 Please see p.21 photo by Brant Gamma
Annual Foal Fest!
SLOTS! Capping Off: Tim’s Take pg.12 Herpes Hits Laurel pg.13 Dentists Dissed? pg.13 PLUS: GRAB & GO! GREAT HOLIDAY GIFTS!
by Brigade Pg. 11 ney for Maryland-breds Pg. 42 Ten Stallions P
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