International Ring Sizes

Equine Market Looks for Balance

Battered Kentucky Thorougbred industry sees hints of daylight around the sales barn

Hammered on all sides since 2008, professionals in Kentucky’s signature Thoroughbred industry are allowing themselves a cautious sigh of relief after 2011’s first major yearling sale. Now, entering the height of the yearling sales season, all eyes are on the numbers. There was no champagne and confetti, but last month’s Fasig-Tipton Select Yearling Sale in Lexington did show some encouraging indicators. The median price was 20 percent higher than in 2010, and the buy-back rate dropped substantially. Not all metrics were on the positive side, though. The average price dropped 7.8 percent and gross revenue was down 27.5, the latter mostly a reflecting a 25.5 percent decrease in the number of yearlings offered.  “Banks in all aspects and in all industries, not just equine, have certainly tightened up their lending policies,” said David Switzer, executive director of the Kentucky Thoroughbred Association, and Kentucky Owners and Breeders Association (KTA/KTOB). “Since this time last year, however, two new banks have started lending to the equine industry, (Louisville-based) PBI and Huntington Banks, so that is a good sign.” Bob Feenick, senior vice president at PBI Bank in Lexington, has been active in equine lending nearly 30 years. He was with the former National City Bank when that Cleveland-based institution was the largest servicing the Thoroughbred industry. PNC Bank of Pittsburgh acquired National City during the 2008 financial crisis, however, and upon completing the takeover in 2009 ceased equine lending. The result was a gaping void of available equine financing.  “A couple of days after this (year’s) sale, after digesting everything, I think we have found the bottom of the marketplace. I’m encouraged and feeling more positive,” he said. “We had more people here looking than we did the year before, which is always a good sign. I do think buyers are showing more restraint and discipline in what they’re going to spend. It’s good for them, but not always so good for sellers and the auction house.” “The closer the median is to the average, the stronger the market,” he said. “When they are far apart, you have a few (horses) bringing a lot of money, and many that aren’t bringing anything.  When you look back at yearling sale numbers over the past 30 years, when the number (of animals) selling is high, the distance between median and average gets wide. When you have an oversupply, it’s not as solid a market.” “I think we’ll continue to see mixed messages at the sales, since we’re getting mixed messages about the general economy, too. But it’s better than going backwards. Now, people are used to the market. We’re not seeing huge plunges and, barring some great economic catastrophe, the (Thoroughbred operations) that have survived this far are probably going to make it.” “It’s a fascinating sale,” Nicholson said. “It contains all these macro-elements, with all kinds of subplots under the macro umbrella. It’s impacted by the state of the general economy and the state of racing. And you can’t forget that horses are a crop, like tobacco or berries. Some years Mother Nature produces better crops that others.” “Last year, Keeneland sold horses to buyers from 49 different countries – the year before that to 40,” said Walt Robertson, vice president of sales at Keeneland. “International commerce of all types is increasing at a faster pace than ever before. We’re getting people from all points around the world, not just the traditional buyers from Canada and Europe.” “Traditionally, the newer buyers start at the lower end of the market, and then step up to better quality horses after they start having success with those horses in their home country,” said Robertson. “We have (sales marketing associate) Chauncey Morris travelling the world trying to convince people to come here to buy horses. It’s a lot of work, and you have to turn over a lot of rocks.” “It’s a competitive world, so you better do all you can. We’ve added representatives in Europe, Australia, Japan, South America, the Middle East and Korea,” Browning said. “I think in every industry, it’s obvious the world is shrinking. We are seeing new people getting in, but more on the entry level. I think that’s indicative of the overall market and reflects the general economy. We’ve not seen major buyers emerge who can work a major influence.” “We buy from one segment of the market and sell to another,” he said. “We deal with the best quality we can, and we spread the risk. That’s one reason partnerships are attractive – you don’t have all your eggs in one basket. And often a person new to the business may not feel confident dealing with all the elements. This allows them to learn.” “Stability is what we really need,” he said. “Nothing scary went on at Fasig-Tipton. It was very stable.

International Ring Size Conversion chart | Makeityourring Diamond ...

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Finger sizing

Ring size is not the same as finger size. A professional jeweler can determine proper ring size using a set of steel gauge-rings. These “ring sizers” come in narrow and wide widths. Thin width ring sizers are for either men or women who plan to choose a narrower ring 7 millimeters or thinner. Wider ring sizers are best for either men or women who are selecting a ring with a shank 8 millimeters or wider. Fingers change over the course of the day due to diet or work affecting the results of gauge rings.

Other methods, such as measuring the finger with a strip of paper, or slipping the finger through pre-cut “measuring holes,” are inaccurate. It has been recommended that fingers be measured at the end of the day, when they are at their largest diameters. Existing fitted rings can also be measured for increased accuracy. Other factors that can affect ring size include: the menstrual cycle, temperature, humidity, water retention, and exercise.

The best strategy for measurement is to purchase calipers that measure inside diameters. A tightly-calipered measurement should then be taken of various rings that fit; these should be noted and the corresponding size recorded. The mandrel, the tapered ring-measuring rod, should be regarded as only half-accurate. Different jewelers will employ the mandrel in different ways. For instance, one jeweler may use the mandrel and take an edge-of-the-ring reading; others will take the measure that corresponds to the largest finger the ring can fit. There is not a separate mandrel for men or women ring measurements.

It is best for the consumer to know and be firm about finger dimensions, because every jeweler or ring seller will think his or her method is the “best” ring-measuring method. It has often been suggested that the industry universally standardize on using inner diameter (the diameter of the finger) as the only size-number method of determination.

Online Ring Sizer

There are many ways to determine your ring size online. Some have a ring-sizing chart to print out; others use your display and match a ring to a certain size. This method may have good results but depends on the user and the shape of the ring used. Other methods require the user to print a sizer and measure his own finger, but this method does not guarantee good results at all. The user, by applying more tension alone, can get two or three sizes’ difference, or more.

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