'Long may it last' - Fasig-Tipton October Yearling Sale concludes on a high

Far exceeding expectations, Fasig-Tipton's Kentucky October Yearling Sale sustained the Thoroughbred industry's booming yearling market, as fervent buyers stocked the colourful sales grounds from start to finish.

Rain fell throughout the final session, which capped 2021's restored schedule of yearling sales. With the added benefit of an extra month of maturity, the sale afforded sellers one final opportunity to offload yearling bloodstock into a frothy market of historic proportions.

Of the 1,586 yearlings catalogued at this year's sale, Fasig-Tipton reported that 1,153 had sold for gross receipts of $52,607,500, shattering 2019s previously unprecedented mark of $38,258,900. The average and median also set records at $45,627 and $22,000, respectively. The buyback rate was 15 per cent, the lowest achieved since 2013.

Last year's sale saw 961 of the 1,553 catalogued yearlings sell for a combined $32,743,700, good for an average of $34,073 and a median price of $15,000. The RNA rate was 21.6 per cent.

Overall, the 2021 edition experienced a 60.6 per cent increase in total gross sales and a 6.6 per cent decline in the RNA rate.

Unsurprisingly, Fasig-Tipton president and CEO Boyd Browning Jr. had nothing but positives to say following the closing session.

"Day four was another outstanding day for the October sale," Browning said. "It was kind of a fitting conclusion to an exceptional horse sale. It's been a great week. The numbers have been just tremendous all four days. Across the board, dramatic increases in gross, dramatic increases in average, dramatic increases in median, and a pretty meaningful reduction in the RNA rate also.

"It shows us the appetite for quality yearlings," he later said. "Really could not be more pleased. It exceeded our most optimistic expectations, and I'm one of the more optimistic people in the world, generally speaking, so to do that is very satisfying."

Sam-Son Farm's Ontario-bred son of Street Sense, hip 1107, highlighted the sale. The downscaling breeder sold its final yearling during Wednesday's third session, capping a nearly 50-year tenure as one of Canada's most elite breeding operations. The colt, from the family of Sam-Son's Canadian Triple Crown winner Dance Smartly, went for a sales record-tying $925,000.

October Sale MVP St. Elias Stable and Mike Repole purchased the colt out of Dance With Doves, a daughter of Dancethruthedawn - the winner of the 2002 Go for Wand Handicap and the 2001 Queen's Plate and Labatt Woodbine Oaks. The pair also teamed up to buy hip 469, a $450,000 filly by Uncle Mo.

Individually, Vinnie Viola's St. Elias Stable purchased seven yearlings worth $2,715,000. Among those were hips 513 and 870, the second and third session sale-toppers. Each colt set Viola back $750,000. Machmer Hall Sales consigned hip 513, a son of Empire Maker. He was bred in Kentucky by Calvin Crain and the late Tom Conway.

Viola's other highlight purchase also carried a strong pedigree into the sale. The Gun Runner colt (hip 870) is out of Archstone and is a half-brother to Grade 2 winner Proctor's Ledge.

Lane's End Farm's sales director Allaire Ryan offered her perspective on the sale.

"The sale overall for us has been very fair," she said. "You know, we brought horses that kind of cover both ends of the spectrum, and we've been pretty pleased with the results. Horses that we thought would sell well pretty much met our expectations where they were.

"It's funny, you know, the October sale isn't necessarily one we always point horses to but in one way or another, it becomes the best option for them, whether they just need more time to mature physically, or if they sustain an injury or a setback on the farm. It's the best plan B for us. So, in one way or another, it's usually a different story for each horse, but it's a great option for the end of the sale season."

Agent Donato Lanni, who purchased a Tapit colt (hip 22) for $700,000 on behalf of SF/Starlight/Madaket, reiterated Ryan's comments on the unusual nature of the October sale.

"It's kind of an interesting sale that you can have a lot of quite cheaper horses and you can still have some kind of Book 1 RNAs as well, so it's always that strange combination of horses," said Lanni.

"You can't hide a good horse. If you got a nice one they will find it. These people are very professional and very good and they work hard and they find them."

St George Sales owner Archie St George chimed in to give this year's edition of the October sale his stamp of approval.

"It's been a really good sale," said St George. "I mean, top to bottom, we've sold nearly everything through the ring. There's money here, obviously, for good horses, but the middle-bottom market is good. I mean, I'd say it's carried on from September.

"Long may it last," St George declared. "It's a fun time to sell horses. I was hoping September never ended, but now you've got this. And so, the market's really good - racing, the purses, and everyone. Hopefully, these owners can get rewarded, and without them, we wouldn't be able to do this."

Chris Baccari of Baccari Bloodstock echoed St George's sentiment.

"I think this whole year the yearling market has definitely been up," he said. "Most of the time the clearance rate has been pretty good, and to me, that's been the best thing about it—the clearance rate has been better for the most part."

Finally, Derek MacKenzie of Vinery Sales concluded that 2021 had been a year to remember.

"Very nice market this year," he said. "Way better than last year across the board. Even Timonium had a lot better feel when we went up there this year. Very happy, very solid."

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