Updated on 08/10/2012 12:59PM

Fasig-Tipton: Saratoga select yearling sale rebounds but still closes down

Barbara D. Livingston
A Medaglia D'Oro filly out of Wait A While selling for $1.575 million topped the Fasig-Tipton yearling sale.

SARATOGA SPRINGS, N.Y. - Twenty-four hours after its opening session suffered steep declines in average and median, Fasig-Tipton’s Saratoga select yearling sale put on a strong session Tuesday night but still ended in negative territory.

A Medaglia d’Oro filly out of 2006 champion Wait a While brought $1,575,000 from Todd Pletcher Tuesday night to top the two-night auction, but the sale ended its run with a 6.3 percent loss in average price and a 10-percent decline in median price. The average was $299,065 and the median was $225,000, as compared to a $319,340 average and $250,000 median last year. The two sessions sold a total of 107 yearlings for $32 million this season, down 2.7 percent from the 2011 gross for 103 horses. Buybacks also remained high at 34 percent, up from 22 percent a year ago.

The Tuesday session outpaced 2011’s second session, though it was not enough to offset total losses. The single-session results showed 55 horses sold for $18,410,000, a 9.9-percent increase, and the session’s $334,727 average and $250,000 median were up 7.9 percent and 11.1 percent, respectively.

Pletcher declined to identify his client after signing for the sale-topper, whose current name is Wait No More. Three Chimneys Sales, agent, sold the gray/roan filly on behalf of Alan and Karen Cohen’s Arindel Farm in Ocala, Fla. The Cohens campaigned Wait a While to a 3-year-old filly championship. The Medaglia d’Oro filly is her second foal. Wait a While’s first foal is a 2-year-old Distorted Humor colt, Zaikov, who has yet to start.

The Medaglia d’Oro filly was the Tuesday session’s only million-dollar lot at a session dominated by fillies. The second highest-priced yearling was a daughter of deceased sire Dynaformer that Paul Fudge’s Waratah Thoroughbreds bought for $900,000. The Paramount Sales agency consigned that filly, who is out of the graded winner Super Freaky. And the night’s third most expensive horse was another Medaglia d’Oro filly, a $725,000 daughter of graded-placed West Coast Swing. Charlotte Weber’s Live Oak Plantation bought her from Craig and Holly Bandoroff’s Denali Stud consignment. The night’s top colt was a $700,000 Bernardini colt out of Dawn Chorus that Rick Porter’s Fox Hill Farm (Tom McGreevy, agent) bought from the Four Star Sales agency.

Two yearlings brought seven-figure prices on Monday. The opening session-topper was a $1.2 million Street Cry colt out of Canadian champion mare Serenading that Sheikh Mohammed al-Maktoum bought. Hill ’n’ Dale sales consigned the session-topper. The session’s other millionaire was a $1.1 million Empire Maker-Sluice colt, a full brother to Grade 1 winner Mushka, that Barbara Banke’s Stonestreet Stables and George Bolton partnered to buy from Denali Stud’s agency.

The opening session endured major downturns as the $13,590,000 gross for 52 yearlings fell 15.8 percent, the $261,346 average was down by 20.7 percent, and median plummeted 29.8 percent to $200,000. As sellers struggled to adjust their expectations in the unexpectedly soft going, buybacks climbed to 33.3 percent from last year’s 24.6 percent.

R. Martin More than 1 year ago
What this sale proved is that buying overpriced, nearly always worthless yearlings when their lack a racing and earning ability later evidenced, is the height of stupidity. Consider the opposite, a smart person, Bill McMachen, 71, who just bought 403 homes, 120 residential lots, 14 condos and 9 commercial buildings at a foreclusure auction, as a package, for a mere $4.8 million. He has already sold about half the properties for more than he paid for them all. In the meantime, this buys don't get sick, his buys don't accrue board and training bills, and not a single purchase will be worth ZERO like the majority of yearlings ending at Los Alamitos unable to pick up a check in a $2000 claimers event. The Racing Industry is the worst investment on the planet, in which only stupid rich guys engage for ego enhancement at monster costs. Wise persons emulate Bill McMachen; nitwits buy yearlings.