Sports
The High-End Horse Market Has Finally Recovered From the Financial Crisis
- Record average price set in premier U.S. thoroughbred auction
- Market had crashed a decade ago amid global financial crisis
The bull market that has spread in the U.S. from stocks to junk bonds to real estate has now made its way into a more obscure corner of the financial world: thoroughbreds.
In the Keeneland auction ring in Lexington, Kentucky, demand was so robust this month for the most blue-blooded of young colts and fillies that the half-million-dollar price mark was tripped again and again.