NDLI: Determinants of Weanling Thoroughbred Auction Prices

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Determinants of Weanling Thoroughbred Auction Prices

Content Provider	AgEcon Search
Author	Hansen, Charlotte R. Stowe, C. Jill
Abstract	Determinants of prices of 1,302 weanling Thoroughbreds sold at the 2010 November Breeding Stock Sale at the Keeneland Association, Inc. are investigated. Weanlings, who are less than one-year-old, are of unknown breeding and racing quality; still, prices at auctions display high variability. A hedonic price analysis is utilized to identify the determinants of weanling sales prices, and the corresponding marginal values of those determinants are estimated. Prices were highly responsive to variables related to pedigree quality, including the sire’s stud fee, whether the sire was relatively new in his breeding career or not, and whether the dam or the dam’s progeny had earned black type. In addition, prices were influenced by individual characteristics such as gender, age, state of birth. The weanling’s placement in the sale and pinhooked weanlings also influenced price. Results can be used as a decision tool by both buyers and sellers.
Related Links	https://ageconsearch.umn.edu/record/252780/files/SAEA_Determinants%20of%20Weanling.pdf
Page Count	27
File Format	PDF
DOI	10.22004/ag.econ.252780
Language	English
Publisher	Southern Agricultural Economics Association (SAEA)
Publisher Date	2017-01-01
Access Restriction	Open
Subject Keyword	Applied Economics Agricultural Economics Agri-economic Open Access Database Research in Applied Economics Research in Agricultural Economics Higher Study On Agricultural Economics Higher Study On Applied Economics Agricultural Research Documents Agrarian Economy & Research Higher Study Agri-economics Research in Economics Agri-economic Open Access Repository Statistics in Agricultural Economics Auction Price, Hedonic Price Analysis, Thoroughbred Industry, Thoroughbred Weanlings, Pinhook Auction Price Hedonic Price Analysis Thoroughbred Industry Thoroughbred Weanlings Pinhook Agribusiness Agricultural Finance Demand and Price Analysis Farm Management Risk and Uncertainty
Content Type	Text
Resource Type	Article
Subject	Economics, Econometrics and Finance

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