Healthy marketplace bolsters upward trending results at Fasig-Tipton

The second of four selling sessions on Tuesday at the Fasig-Tipton Kentucky October Yearlings Sale yielded upward trending results, seeing an increase in gross and average price. The day was capped by a Tapit filly commanding $600,000 to head to D.J. Stable's Leonard Green.

"We had a tremendous session today, from start to finish," Fasig-Tipton president and CEO Boyd Browning Jr. said at the close on Tuesday evening.

The grey filly out of Carolyn's Cat, a multiple graded-stakes winner, was consigned as hip 629 by Blake-Albina Thoroughbred Services, who also bred the filly under the name Newtown Anner Stud in Kentucky.

D.J. Stable was the day's leading buyer by gross after making five purchases for final receipts of $874,000, at an average price of $174,800.

Consignor Hanzly Albina described the October Sale as "great," - in keeping with banner business seen in other auctions this year.

"I think all the yearling sales this year have been super strong," Albina said. "They've exceeded expectations on all fronts. If you had the right horse in the right sale, you got more money than you would estimate."

Fasig-Tipton reported 265 yearlings of the 332 through the ring sold for gross receipts of $15,752,400, an increase of 12.8 per cent over 2021. Suitable for an average price of $59,443, growth of 19.2 per cent, and a median of $25,000. Sixty-seven yearlings failed to meet their reserve, representing an RNA rate of 20.1 per cent.

"It's been good; we have had decent activity at the barn and some good vetting. I think it's a typical October Sale, buyers kind of weed through them, but there's a horse here for everyone," Warrendale Sales partner and director of bloodstock services Hunter Simms said.

"We have some good ones selling Wednesday and Thursday that should take it up, but it's typical of the October Sale. You have to be realistic. It's the last yearling sale of the year, and people are trying to finish their orders.

Trade has been strong as autumn sets in at Fasig-TiptonCredit: Fasig-Tipton Photo

"They aren't a blank slate or an open chequebook, so to speak, like they are at the beginning of the yearling season. In the end, buyers will be more cautious with what they buy, but horses are still getting moved."

At this point in the sale in 2021, 280 horses changed hands of the 338 on offer for final receipts of $13,960,200, good for an average of $49,858 and a median of $25,000. Fifty-eight horses failed to meet their reserve, representing an RNA rate of 17.1 per cent.

"The first horse in the ring this morning brought six figures, and the last horse in the ring tonight brought six figures," Browning said. "There was brisk activity and great trade from start to finish today, similar to yesterday."

Pat Costello, managing officer of Paramount Sales, sold the seventh-highest price of the day, a $320,000 Justify colt, to Trade Winds Farm.

"Today has been very viable," Costello said. "The horse's buyers are on… Everyone is on, it's quite selective, but we are getting stuff moved."

Cumulatively over the past two selling sessions, Fasig-Tipton reports 524 of the 681 horses on offer changed hands for gross receipts of $28,232,900. Suitable for an average price of $53,880 and a median of $25,000. One hundred and fifty-seven yearlings failed to meet their reserve to represent an RNA rate of 23 per cent.

At this point in 2021, 554 of the 679 yearlings through the ring sold for gross receipts of $24,977,100 at an average price of $45,085 and a median of $20,000. One hundred twenty-five horses failed to meet their reserve to represent an RNA rate of 18.4 per cent.

Gainesway concluded Day 2 selling all 12 of its yearlings on offer for gross receipts of $1,475,500 and an average of $122,958, to be the day's leading consignor.

While it is the final yearling sale of 2022, pinhookers and end users were in force during day two, adding more promising yearlings to their programs.

On Tuesday, two-year-old consignor Cary Frommer purchased two horses. "It's been very tough," Frommer said. "I came into this sale in good shape, I did well in Maryland, but it's a horse sale… I can't not buy something. I'll be happy if I leave here with four or five."

Browning said: "Quality sales, there is a great demand for quality individuals. There was great competition for what was perceived to be the quality offerings, but you're also seeing the depth of the market. I thought today was slightly stronger in the middle market than yesterday.

"There was a ton of activity on the grounds and lots of vetting today. We saw a vibrant marketplace, with significant participation from American buyers and international purchasers."

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