F-T Midlantic average price dips

Exhibiting the strengths and weaknesses common to yearling sales this year, the three-day Fasig-Tipton Midlantic eastern fall yearling sale in Timonium, Md., ended Wednesday with slight drops in average price and gross receipts but a double-digit increase in the median price.

As at other more prestigious yearling sales this year, spending at the top of the market wilted even as buyers embraced horses in the middle range of the market. Only six horses sold for $100,000 or more this year at Timonium, compared with 12 last year, but the median price rose 18.8 percent, from $8,000 to $9,500. Sales officials said the median was helped by a large increase in the number of horses sold in the $10,000-to-$50,000 range.

The average was down 1.4 percent, from $16,919 last year to $16,680. The gross fell 3.4 percent to $8.84 million, from $9.15 million.

The number of horses at the Maryland sale who did not reach their reserve price declined significantly, indicating that consignors were more willing to take shorter prices on horses this year than last year. Buy-backs numbered 175 this year, compared with 211 last year, a decrease of 17.1 percent.

The sale-topper was a $150,000 Silver Charm colt out of the El Raggaas mare My Big Sis, bought by Buzz Chace, agent. The colt was consigned by Summerfield, agent.