It amazes me how people will pay so much for a yearling at the APG sales. If you were to offer the same horse for sale on the trading ring you would be lucky to get a third of the money.
Since the APG sales started up foals being bred numbers have dropped every year, possibly a coincidence but I believe the fact that the sale only accepts mainly progeny of the top stallions many breeders are discouraged by the huge service fees and just give up. In my opinion race series for sales graduates only are not helping the breeding industry overall . Sure the top breeders may benefit but the majority loose out.
With the over inflated prices at these sales and sustaining fees, around 80% of buyers will not get their money back and possibly be lost to the industry.