10/26/2011 7:42PM

Fasig-Tipton Kentucky fall yearling sale ends with substantial gains


LEXINGTON, Ky. - Fasig-Tipton’s robust Kentucky fall yearling sale ended Wednesday night with dramatic improvements over last year’s figures, fueling more hopes that the yearling market has turned a corner after steep declines since the 2008 global financial crisis.

After the final hammer, the auction had sold 710 yearlings for $17,046,800, a staggering number when compared with last year’s total of $9,395,300 for 690 yearlings. Average price fared almost as well, jumping 76 percent from $13,616 to $24,010, and for the third consecutive day median more than doubled on its way from $5,000 to this year’s figure of $12,000. 

The buyback rate also improved, falling from 30 percent in 2010 to 20 percent.

The three-day auction rang up its highest price late Wednesday afternoon when Frank Stronach’s Adena Springs, a bullish player at the top of the yearling market this season, put up $380,000 for a Medaglia d’Oro half-brother to Grade 1 winner and millionaire Honor in War. Consigned by the Mill Ridge sales agency, the bay colt out of the Diesis mare Catumbella also is a half-brother to Grade 3-placed Dynamoor and is from the highly productive family of Al Mamoon, Icon Project’s dam La Gueriere, and Lost Soldier.