NEWS
Fasig-Tipton Kentucky ends with slight decreases
Posted: Wednesday, July 14, 2010 6:05 PM
SESSION TWO TOPPER: MEDAGLIA D'ORO FILLY
PhotosByZ.com/Thoroughbred Times
by Pete Denk
In the end, the opener to the American yearling sales of 2010 looked a lot like ’09, minus the significant year-to-year declines.
At the 2009 Fasig-Tipton Kentucky July sale of selected yearlings, average price fell 15.8% and median dropped 26.7%, essentially back to their levels of 2000.
During the 2010 sale, which ended its two-day run in Lexington on Wednesday, average price decreased 2.5% to $75,870, the lowest since 1999, and median fell 9.1% to $50,000, the lowest since ‘98.
“I think it’s a real similar market to what we had last year,” Fasig-Tipton Chairman Walt Robertson said. “Good horses sold well, but everybody’s awfully careful with their money right now, and it’s not just a bottom of the market thing. They’re careful across the board. But people who brought nice horses in here were rewarded.”
Fasig-Tipton reported 243 horses sold from 341 offered for total sales of $18,414,500, an 11.6% decline from last year. This year’s catalog was 18.6% smaller than last year’s, and offerings declined 19.6%, more than accounting for the drop in total sales.
The buy-back rate decreased from 36.8% last year to 28.7% in 2010.
“The buy-back rate was a lot better this year than last year, and there were several factors to that,” Fasig-Tipton President Boyd Browning Jr. said “One being there’s a solid market out there for horses. And two, the sellers might not be as aggressive with their reserves. Well when that happens, the prices will drop.”
Also just like last year, a yearling by Medaglia d’Oro sold to Sheikh Mohammed bin Rashid al Maktoum to top the sale.
John Ferguson Bloodstock, chief adviser to Sheikh Mohammed, signed for the sale-topping Medaglia d’Oro colt on Tuesday for $450,000. Last year, Ferguson went to $425,000 for a Medaglia d’Oro filly who topped the sale. Medaglia d’Oro stands at Sheikh Mohammed’s Darley in Lexington.
Meg Levy’s Bluewater Sales, agent, consigned this year’s sale topper, a colt out of Beright, by Gray Slewpy, for Mike Moreno’s Southern Equine. The sale topper is a half brother to Principle Secret, by Sea of Secrets, who won the 2006 Best Pal Stakes (G2) at Del Mar.
This year’s top priced filly also was by Medaglia d’Oro. Bloodstock agent Debbie Easter, representing Morrowdale Farm, bid $350,000 for a half sister to Metropolitan Handicap (G1) winner Divine Park.
Former Kentucky Governor Brereton C. Jones, who stands Divine Park at his Airdrie Stud in Midway, Kentucky, bred and consigned the Medaglia d’Oro filly out of High in the Park, by Ascot Knight.
Patrice Miller of EQB, Inc., agent, was leading buyer by total sales with seven purchases for $855,000.
Medaglia d’Oro was leading sire by average price with six sold for $225,000. Jazil led the freshman sires in average price (minimum two sold) with two sold for an average of $160,000.
Taylor Made Sales Agency was leading consignor by total sales with 22 sold from 28 offered for $1,397,000.
“I don’t think it’s been a disaster,” Taylor Made’s Mark Taylor said. “There’s been commerce happening, and people are buying horses. But you have to be really realistic with your reserves.”
For hip-by-hip results, click here.
Pete Denk is sales editor of Thoroughbred Times
