NEWS
Fasig-Tipton completes record-breaking New York-bred sale
Posted: Sunday, August 10, 2008 11:33 PM
by Pete Denk
The Fasig-Tipton Saratoga New York-bred preferred yearling sale completed its two-night run on Sunday with a record average price and a tie for its all-time median, but buy-backs also reached a historic high, somewhat tempering enthusiasm for the results.
Fasig-Tipton reported 100 horses sold from 190 offered for total receipts of $5,439,000, a 6.7% decrease from last year when 113 horses sold for a sale record $5,831,500.
Average increased 5.4% on year-to-year comparisons to $54,390, breaking the record of $52,421 set in 2006. Median improved 18.4% to $45,000, tying the record of 2005. The buy-back rate rose to 47.4% from 41.5% in 2007.
“This was a continuation of the market we saw in July, the main sale here at Saratoga, as well as the two-year-old sales,” said Fasig-Tipton Executive Vice President Boyd Browning. “There is a lot of demand for the quality horses. And below what the buyers perceive as quality horses, it’s very difficult. The buyers are very selective, but they are willing to pay you for the horses that fit their criteria. And they’re not willing to bid – at almost any level – on the horses that don’t fit their criteria.”
Sunday’s session topper was a Chapel Royal colt out of Devoted, by El Gran Senor, who sold for $165,000 to James J. Barry. Paramount Sales, agent, consigned the half brother to stakes-placed winner Clarksburg Queen.
“He was a lovely, big, strong colt, and there were a lot of people on him,” said Paramount’s Pat Costello. “I think watching your reserves was really important, but there was plenty of money for good horses here.”
A Songandaprayer colt out of Greening, by Greinton (GB), was listed as reserve not attained on final bid of $240,000 on Sunday. Consignor Craig Bandoroff of Denali Stud, agent, said owners Ernest J. Dahlman and Eugene E. Hauman wanted $250,000 for the colt they bred at their western New York farm.
“I knew it wasn’t going to be easy to get, but he’s a nice horse, and they’re happy to own him,” Bandoroff said. “He was a big, pretty horse with a lot of pedigree, and he showed well.”
The top-priced colt and filly of the sale sold on Saturday, when bloodstock agent Buzz Chace, representing West Point Thoroughbreds President Terry Finley and West Point client Michael Newton, went to $250,000 for the sale topper, an Exchange Rate colt out of Star One One, by Caller I. D.
The athletic, half brother to stakes winner North Beach Condo was bred by Andy and Susan Beadnell and consigned by McMahon of Saratoga Thoroughbreds, agent.
Debbie Easter, agent for Morrowdale Farm, went to $200,000 for the sale’s top-priced filly, a daughter of Songandaprayer out of Naughty Natisha, by Known Fact. The half sister to Grade 3 winner and New York horse of the year Naughty New Yorker was bred by Stepwise Farm and consigned by Denali Stud, as agent.
For hip-by-hip results, click here.
Pete Denk is sale editor of Thoroughbred Times
