05/20/2008 11:00PM

Midlantic sale ends with declines


LEXINGTON, Ky. - Fasig-Tipton Midlantic’s May preferred 2-year-old sale ended Tuesday evening with declines compared to last year, despite lively trade at the top of the market at the Timonium, Md., auction.

The two-day auction sold 327 horses for gross receipts of $15,757,400, down 19 percent from last year’s total for 350 horses. The average slipped 14 percent, from $55,711 last season to $48,188, and median fell 19 percent, from $34,500 to $28,000.

The buyback rate – the percentage of horses who failed to reach reserve prices set by their sellers – rose from last year’s figure of 28 percent to 34 percent in 2008.

The sale-topper, sold at the Tuesday session, was a $575,000 colt from Lion Heart’s first crop. Puglisi Racing purchased the dark bay or brown colt, a son of Bye the Bye. Sold by Crupi’s New Castle Farm, agent, as Hip No. 402, the Lion Heart colt is a half-brother to two-time Grade 1 winner Schossberg and to stakes winner San Romano.