10/21/2008 11:00PM

F-T October ends with steep declines

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LEXINGTON, Ky. - The Fasig-Tipton October yearling sale confirmed the season-long trend of dropping prices for yearlings, ending Wednesday with double-digit declines across the board as compared to last year's auction.

The 2008 sale was extended to three days from 2007's two-day run.

This year's auction sold 553 horses for total receipts of $7,471,900, resulting in an average price of $13,512 and a $5,500 median. The gross fell 29 percent from last year, when 566 yearlings sold. Average fell 28 percent, and the median dropped by 45 percent.

The buy-back rate increased from 20 percent last year to 36 percent.

The sale topper, sold Tuesday, was a $310,000 Giant's Causeway colt out of Grade 2-placed City College. Marion Montanari purchased the chestnut colt, who sold as Hip No. 710 in Francis and Barbara Vanlangendonck's Summerfield consignment. The colt is a full brother to Irish stakes-placed Trinity College.

Montanari was co-breeder of the colt with Coolmore Stud, which stands sire Giant's Causeway.