08/23/2016 5:46PM

Early buybacks hurt OBS select session

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The select session of the Ocala Breeders’ Sales Co. August yearling sale was hampered early by a run of buybacks and finished behind the pace set by last year’s sale. The session was highlighted by a $210,000 Flatter colt.

The auction company reported 138 horses sold on Tuesday evening for revenues of $5,612,100, down 17 percent from last year’s select session, when 150 yearlings brought $6,774,500.

The average sale price fell 10 percent from $45,163 to $40,667, while the median declined 29 percent from $35,000 to $25,000.

At the top of the market, two yearlings sold for $200,000 or more, down one from last year's sale. However, the number of six-figure horses rose from 11 to 15.

The buyback rate closed at 38 percent on Tuesday, up significantly from last year’s select session figure of 22 percent.

Sixteen of the first 23 horses through the ring were buybacks. The RNA rate steadily floated down throughout the session, and approached a level close to the final figure as the day’s trade passed the halfway point.

Kevin Plank’s Sagamore Farm bought the session-topper, a $210,000 Flatter colt out of the winning Dixie Union mare Madoffwiththecash.

The bay colt is the dam’s second foal, and comes from the family of U.S. champion Ajina; Irish champion Irish Trump; Grade 1/Group 1 winners Quality Road and Bahri; Grade 2/Group 2 winners Nothing But Fun, Winglet and Bahhare; and Grade 3/Group 3 winners Dance Bid, Northern Plain, Rob's Spirit, Bitumen, Khusoosy, Raseed, Muqbil, Muthabara, and Rawaaq.

Bred in Kentucky by Wayne and Cathy Swezey's Timber Town Stables, the colt sold as a short yearling for $80,000 at this year's Keeneland January horses of all ages sale, going to W.D. North Thoroughbreds and Morris Bloodstock Services, agent.

The colt was consigned at the OBS August sale by Stuart Morris, agent.

Summerfield Sales finished Tuesday’s session as the leading consignor by gross, with 16 horses sold for revenues of $928,200. Leading the way was the day’s third-highest-priced offering, a $160,000 colt from the first crop of Shanghai Bobby who sold to Stonestreet Stables and M.V. Magnier of the Coolmore partnership.

De Meric Stables, as agent, was the day’s top buyer, with seven purchases totaling $395,000, led by a $100,000 City Zip colt.

The OBS August sale continues through Thursday, with a pair of open sessions beginning each day at 10:30 a.m. Eastern.