10/21/2015 6:39PM

Fasig-Tipton October: Session-to-session declines continue

Email

While still on pace to be one of the strongest renewals in the auction’s history, Wednesday’s session of the Fasig-Tipton Kentucky fall yearling sale continued the trend of finishing behind last year’s comparable sessions in both gross and average returns.

A total of 213 yearlings changed hands on Wednesday for revenues of $6,727,700, down 37 percent from last year’s third session, when 292 horses brought $10,632,900. It is important to note that this year’s sale features an extra day of selling with fewer horses per session than last year, which could have an effect on daily gross figures.

The average sale price between third sessions fell 13 percent from $36,414 to $31,585, while the median declined 25 percent from $20,000 to $15,000.

To put this sale in perspective, despite across-the-board declines, the auction has already posted the fourth-highest gross in its history, $21,566,700, with one session left to go. The three-day average of $33,751 and median of $15,000 are both on pace to finish at their third-highest points on record.

“I thought it was a continuation of a very similar marketplace that we’ve seen the first two days of the sale,” said Fasig-Tipton president Boyd Browning. “There was lots of competition for what were perceived to be better quality offerings. Folks are saying they can’t get any bought that they really like, that the market’s not easy, and it’s not easy to sell a horse that’s not perceived to be of a certain value.”

Wednesday’s buyback rate finished at 30 percent, up from last year’s third-session figure of 15 percent.

At the top of the market, two yearlings sold for $200,000 or more, down from six during last year’s third and final session. Eighteen horses sold for six figures or more, down from 27 in the same session of the 2014 sale.

A colt from the first crop of The Factor topped the session and brought the second-highest price of the sale thus far, going to Altimira Racing for $290,000.

The bay colt is the first foal out of the winning Eddington mare Salvar, whose extended family includes Grade 3 winners Clearly Now and Jessica’s Star, as well as graded-placed stakes winners Hitch and Amie’s Dini. Paramount Sales consigned the colt as agent.

“He’s an absolutely beautiful horse,” said Pat Costello of Paramount Sales. “When he came on the grounds, right away, I knew he was special. Pretty much all the top people on the grounds were on him, and he walked as good on the first day as he did on sale day. I really love the sire and he’s a special horse.” 

Bred in Kentucky by Lane’s End Bloodstock, the colt was a $115,000 weanling purchase at last year’s Keeneland November breeding stock sale.

The fourth and final session of the Fasig-Tipton Kentucky fall yearling sale begins Thursday at 10 a.m. Eastern.

For complete sale results, click here.