NEWS
Record price highlights Midlantic sale
Posted: Tuesday, May 19, 2009 12:07 PM
RECORD SALE PRICE: TAPIT COLT
Lydia Williams photo
by Pete Denk
Fewer horses, motivated sellers, and a pair of top-line colts contributed to the mostly positive results at the Fasig-Tipton Midlantic two-year-olds in training sale, which ended its two-day run on Tuesday.
Monday’s session featured a sale record $850,000 Tapit colt and a $485,000 half brother to Kentucky Derby Presented by Yum! Brands (G1) winner Mine That Bird.
Tuesday’s session was topped by a colt by freshman sire Eurosilver who sold for $280,000. Eddie Woods, agent, consigned the colt out of the Not For Love mare Dolly by Golly, and bloodstock agent Steven W. Young, agent, signed the ticket.
The Midlantic sale was a success story on some levels, but it was also subject to the difficult economic conditions that have impacted the rest of the two-year-old sales of 2009. Pinhookers were sometimes faced with selling their horses at a loss or keeping them to race.
“From the standpoint of the consignors’ ability to move quality horses, this was a very satisfying sale,” said Terence Collier, Fasig-Tipton’s director of marketing. “There was no portion of the sale that was disappointing or unanticipated.”
With 175 fewer horses offered than last year, total sales predictably dropped by 33.2% on year-to-year comparisons. From an original catalog of 500, Fasig-Tipton reported 321 horses as offered and 247 as sold for $10,522,500.
Average price dropped 11.6% to $42,601, and median declined 10.7% to $25,000.
Besides the big prices at the top, the best news was the 23.1% buy-back rate, a significant improvement from 34.1% a year ago and better then just about anything seen in 2009.
“People got their horses sold. They took the money,” Fasig-Tipton Chairman Walt Robertson said. “I think it was a great sale at the top, and we had good activity all the way through.”
Young signed the ticket for the record Tapit colt, a half brother to Grade 1 winner Miss Shop, on behalf of an undisclosed New York stable. Cary Frommer consigned the colt, named Tashop, on behalf of the Hobeau Farm dispersal. Hobeau founder Jack Dreyfus died on March 27 at age 95.
Frommer also consigned the half brother to Kentucky Derby winner Mine That Bird on behalf of Paul Saylor. Dogwood Stable purchased the Yonaguska colt two days after Mine That Bird, a three-year-old gelding by Birdstone, finished a fast-closing second to Rachel Alexandra in the BlackBerry Preakness Stakes (G1) at Pimlico Race Course.
Young, as agent, was top buyer with two purchases for $1,130,000. Frommer led all consignors with 18 two-year-olds sold for total receipts of $1,838,500.
“It’s crazy for me to say this, but I thought the market was very tough,” Frommer said. “They have to be very special horses to bring the money. The ones that are just nice horses aren’t being valued.”
The top-priced filly of the sale was by Hennessy out of the Unbridled mare Shoreline. The new racing partnership Thoroughbred Futures went to $170,000 for the filly from the consignment of Leprechaun Racing, agent.
Pete Denk is sales editor of Thoroughbred Times
|
Fasig-Tipton Midlantic two-year-olds in training sale
Overall Summary |
|
2009 |
|
2008 |
| No. offered |
321 |
(-35.3%) |
496 |
| No. sold |
247 |
(-24.5%) |
327 |
| Pct. not sold |
23.1% |
|
34.1% |
| Gross |
$10,522,500 |
(-33.2%) |
$15,757,400 |
| Average |
$42,601 |
(-11.6%) |
$48,188 |
| Median |
$25,000 |
(-10.7%) |
$28,000 |
| For hip-by-hip results, click here. | | | |
