08/14/2016 10:07PM

Fasig-Tipton New York: Statebred sale posts declines

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After severe weather forced the first session of the Fasig-Tipton New York-bred yearling sale to be canceled on Saturday night, the full catalog was offered as a single session on Sunday. Although led by a $450,000 Uncle Mo colt who was a record for this sale, the auction failed to keep up with previous renewals, finishing with declines.

A total of 177 yearlings changed hands on Sunday for revenues of $13,672,500, down 8 percent from last year’s two-day sale when 182 horses sold for a record-setting $14,876,500.

The average price declined 5 percent from a record-setting $81,739 in 2015 to $77,246 on Sunday, while the median fell 8 percent from a record-tying $65,000 to $60,000.

The Fasig-Tipton New York-bred sale had posted gains in five consecutive years entering this renewal.

Further displaying the attraction of buyers to the high-end offerings, two horses surpassed last year’s sale-topping price of $350,000.

Three yearlings changed hands for $300,000 or more, tying the number to do so in 2015. Twelve offerings met or surpassed $200,000, which trailed the 13 to reach that mark last year, while the 43 yearlings to bring six figures finished behind the 50 at that level during the previous renewal.

Fasig-Tipton president Boyd Browning did not believe the circumstances surrounding holding the sale on a single day had a significant effect on the auction’s final results.

“You don’t ever want to go against live racing at Saratoga, but you do what you’ve got to do,” he said of the sale, which began in mid-afternoon instead of being held as an evening session as originally scheduled. “I think at the end of the day, I think the results would have been virtually identical if we hadn’t had a rainstorm last night and had conducted the sale as we had traditionally done with the Saturday night session and the Sunday night session, I don’t think the format change rally had any impact on the sale at all.”

The buyback rate rose from year-to-year, finishing at 33 percent on Sunday after landing at 28 percent last year.

“Historically, if you do a chart of this sale over the past 10 years, this is basically right in range with the traditional buyback rate,” Browning said. “The beauty and the curse of the New York-bred is that they have the ability to run for significant purse dollars and those earnings potentials apply to breeders, as well as to buyers.

“The breeders probably even have a grater tendency to retain their horse because they can control where it races,” he continued. “If you’re a New York breeder and you buy your horse back, it’s going to run in New York in virtually all instances.”

Everett Dobson’s Cheyenne Stable secured the sale-topper near the auction’s halfway point, going to $450,000 on an Uncle Mo colt.

The dark bay or brown colt, named Mo Diddley, is out of the stakes-placed Vindication mare Miss Bodine, whose two foals to race are both winners. His extended family includes Canadian champion Bear Now, Grade 2 winner Icecoldbeeratreds, and Grade 2-placed stakes winner Controlled.

"I just liked his presence,” Dobson said. “Obviously, Uncle Mo is maybe the most exciting new sire we've had in this sport in many years, and it's a New York-bred. I like that. I race up here a lot. He checked all the boxes and I'm thrilled to put him in the racing stable.”

Dobson said the colt would be sent to Williston, Fla.-based Randy Bradshaw for breaking, once his initial training was complete.

Mo Diddley was bred in New York by Andy Beadnell, and was consigned as agent by McMahon of Saratoga Thoroughbreds.

"We knew he was going to sell well,” Beadnell said. “We didn't think he would go quite that high, but Joe [McMahon] knows. Joe said people were on him. He reserved him higher than I was kind of happy with, but he went way past his reserve. The man knows his horses.”

For complete sale results, click here.