Arabian Gold Rush, continued
banks, starved in fi elds or dumped at low-end auctions nationwide. While hundreds jumped ship, there were
nevertheless die-hard horsemen and passionate lovers of the Arabian breed who rode out the crash, refocusing their eff orts and waiting for the rebound. Many horsemen saw the crash as a market correction and something, in the long run, that would be good for the breed. T e new, smaller market allowed for the serious horse- man to focus on breeding better horses and promoting the horses themselves, and not the fi nancial advantages, to new buyers. Naturally, breeding and registration slowed
considerably. From 1986 to 1991, registrations dropped by more than 15,000 horses per annum. T e eff ects of our tax reform echoed in other
countries as sales of foreign horses dropped dra- matically. In 1988, Tersk Stud off ered 87 horses but only 18 sold; the highest price was $36,000. In the U.S., prices had plummeted to an aver- age of $10,000-$25,000 by the end of the de- cade. Lasma liquidated its holdings in Arizona and Kentucky.
A Leveling of the Market T roughout the 1990s, registrations held
steady at around 12,000 per year, with a slow decline in the 2000s to a unprecedented low in 2010 of fewer than 5,000.
Also aff ecting the breed in the ‘90s was the dif-
fi culty of establishing purity of blood. T e AHR took a stand in 1998 against accepting certain horses/studbooks into their own and splitting from the World Arabian Horse Association (WAHO). T is put a strain on the importing and exporting of Arabians and semen to and from the U.S., until an agreement between the two organizations was reached in 2008. In general, prices for horses in America re- bounded when supply wasn’t meeting demand. (It should be noted that, after the Arabian fad faded, Wayne Newton is one of the few ce- lebrities to remain involved with Arabians and has bred more than 600 foals, several of whom have won national championships; he is well respected by Arabian enthusiasts for his serious involvement.)
The Arabian Market Today
Although the U.S. economy is still struggling, and likewise the equine industry, the Arabian market overseas, specifi cally in the Middle East, is strong. T ere are still reported sales of horses in the millions of dollars (with a record price in 2008 beating the 1985 record price) and stud fees of fi ve fi gures, but these are the exception rather than the rule. In looking at the programs off ering prize money, there appear to be fewer people breeding
on speculation, and more owners just breeding for themselves, which is a welcome change for many fans of the breed. T at is not to say that there are not still plenty of speculators breeding ostensibly for sales, as the Canterbury case has illustrated. A new market for amateur-friendly Arabi- ans has gained momentum in the last ten years, especially in sporting disciplines such as event- ing. Because of this growth, AHA instituted a Sport Horse National Championship Horse Show that features Arabians, Half-Arabians and Anglo-Arabians competing in dressage, working hunter, jumpers, conformation and carriage driving classes all judged by USEF- and USDF-carded judges. T is is the only breed-specifi c sport horse show in the country. T is trend toward performance horses has also been a less expensive route for showing Arabians as it is not as dependent on profes- sional trainers handling the horses in tradi- tional Arabian venues. T is gives owners and exhibitors a more economical means to both enjoy and compete at a regional or national level with their Arabian horses. Today, despite the plummeting registry num-
bers, there are more Arabian horses in the U.S. than the rest of the world combined. Surpris- ingly, 67% are owned for recreational purposes.
continued...
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