NEWS
New York-bred sale posts lowest buy-back rate since 2002
Posted: Monday, August 09, 2010 12:14 AM
by Pete Denk
An improved buy-back rate and an 11.1% increase in median were the positive signs at the Fasig-Tipton New York-bred preferred yearling sale, which ended Sunday night in Saratoga Springs, New York.
Fasig-Tipton reported 94 horses as sold from 142 offered at the two-night auction for total sales of $3,676,000, a 15.6% decline from last year when 198 horses went through the ring but only 107 sold. This year’s buy-back rate of 33.8% was a major improvement from 46% a year ago and the lowest for the New York-bred sale since 2002.
Average price declined 3.9% to $39,106, and the number of horses that sold for six figures declined from ten last year to four this year.
“I don’t think the game is easy, but this was by and large a better sale than it was a year ago,” Fasig-Tipton Chairman Walt Robertson said. “A higher percentage of horses sold, the median was up, and the average was very similar. And similar is good in these days and times. People wanted horses these last two days.”
Repole Stable was leading buyer with six purchases for $322,000, including $140,000 for the sale-topping Tale of the Cat colt. Bred by Berkshire Stud, the sale topper is out of the unraced Fusaichi Pegasus mare Regard.
Craig and Holly Bandoroff’s Denali Stud, agent, consigned the colt and organized the pinhooking partnership that bought him for $60,000 at the 2009 Keeneland November breeding stock sale.
The colt’s half brother Highest Regards, by Anabaa, was an impressive debut winner at Belmont Park on June 24, and that boosted the sale topper’s value at auction. Bloodstock agent/pinhooker J. J. Crupi signed the ticket for the colt on behalf of Repole.
“He is a grand, good-looking horse that had everything in the right place, and he looked like a runner,” Crupi said. “We liked the Tale of the Cat horse to start with, but I do business with Todd Pletcher, and he has the two-year-old Highest Regards, and Todd said he could really run, so that turned us onto this horse.”
The Tale of the Cat colt will go to Repole’s racing stable. Crupi also signed for the sale’s top-priced filly, going to $105,000 for an Afleet Alex filly out of Try N Sue, by Sir Harry Lewis. Avandelle farm, agent, consigned the filly.
Crupi said he will point her for the 2011 Fasig-Tipton Calder sale of selected two-year-olds in training.
“She just was a gorgeous, gorgeous filly,” Crupi said. “Afleet Alex I think is on the move right now and is going to be a good stallion, and she just fit my program.”
Speightstown was the leading sire by average price (minimum two sold) with two sold for an average of $79,500. Scat Daddy led the first crop sires with two yearlings sold for an average of $73,500.
Paramount Sales was the leading consignor by total sales with 19 sold from 21 offered for $792,000.
The second session totals were 39 yearlings reported as sold from 68 offered for a total of $1,768,000, a $45,333 average, and a median of $35,000.
For hip-by-hip results, click here.
Pete Denk is sales editor for Thoroughbred Times
