08/23/2016 2:35PM

Minnesota yearling sale posts record gross

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The Minnesota Thoroughbred Association yearling sale posted one of the strongest renewals in its history Monday, featuring a record gross, near-record average sale price, and a $50,000 Midshipman filly drawing the highest bid.

A total of 49 Minnesota-bred yearlings sold for revenues of $517,310, surpassing the previous record established in 2014 when 43 horses brought $454,100. This year’s gross marked a 67 percent increase from the 2015 edition, when 40 horses sold for $310,150.

The average sale price rose 39 percent from $7,594 to $10,558 and finished just $2 shy of the record $10,560 set in 2014. The median increased 57 percent from $4,150 to $6,500, making for the best performance since 2002.

The buyback rate finished at 21 percent, down considerably from last year’s figure of 39 percent.

Barry and Joni Butzow purchased the sale-topper, a Midshipman filly, for $50,000.

The chestnut filly is the first foal out of the winning Lion Heart mare Lion Cub, from the family of Grade 3 winners Kaweah Princess, Closeout, Capital Request, and Family Meeting.

Richard Bremer and Cheryl Sprick bred the filly in Minnesota, and she was consigned as agent for the breeders by Dove Hill Farm.

Wood-Mere Farm was the auction’s leading consignor, with six horses sold for a combined $122,500. The consignment was led by an Algorithms colt who sold to Dale Schenian for $34,000 to be the sale’s second-most expensive offering.

The Butzows were the day’s leading buyers, with two purchases totaling $60,000. They also bought a $10,000 Matt’s Broken Vow colt earlier in the sale.