Around 1,000 people attended Bampton Fair to enjoy the atmosphere and the auctions and stalls. But fewer than five ponies were sold this year.
The event has seen dozens of ponies sold in past years but Stags auctioneer, Stafford Sampson, said the market is currently down.
He said: "Trade is very bad at the moment. And you can get one year very good and the next is different.
"But the streets were full of people, there were all the stalls, and camaraderie and the auctions in saddlery, poultry and other items went very well."