Fasig-Tipton combines three yearling sales into one September sale in Kentucky

Fasig-Tipton, one of the nation's major auction companies, has announced that it will consolidate its three summer selected yearling sales into a single sale in September in Kentucky, the first concrete effect of the coronavirus pandemic on the yearling sale calendar.

Fasig-Tipton will conduct the selected yearlings showcase on Sept. 9-10 at its Newtown Paddocks headquarters in Lexington, Ky. The sale represents a consolidation of the company's July selected yearling sale in Kentucky, the Saratoga selected yearling sale – which was to have celebrated its 100th edition in August – and its New York-bred yearling sale, also in Saratoga. The company expects those three sales to return to their traditional dates in 2021.

"We are excited to offer our buyers and sellers a selected yearling venue in Kentucky," Fasig-Tipton president Boyd Browning said in a press release. "We envision this catalogue will include yearlings that would traditionally fit our Saratoga sale, as well as those that would fall in the upper echelons of our July and New York-bred yearling sales."

Yearlings cataloged in the selected yearling showcase will be approved on pedigree and conformation by Fasig-Tipton's staff over the coming weeks. The company also will offer a group of selected New York-bred yearlings as part of its Saratoga fall mixed sale on Oct. 20, providing another venue for what has been a strong marketplace in recent years.

The calendar for the juvenile sale season, which traditionally runs from March through June, has been upended due to the pandemic as efforts to minimize the spread of the virus have led to travel restrictions and social-distancing guidelines that make traditional auctions unfeasible. The yearling and juvenile sale markets can feed off one another, as pinhookers, flush from success selling juveniles at a profit, may be inspired to restock freely at yearling sales. Conversely, a poor juvenile sale season can lead to market restraint.

This year's postponed juvenile sale calendar is scheduled to continue with Fasig-Tipton's postponed Midlantic sale on June 29-30 in Timonium, Md., as well as a pair of auctions at the Ocala Breeders' Sales Co. in June and July. The latter would have coincided with the Fasig-Tipton July yearling sale, a popular shopping venue for pinhookers seeking early-blooming youngsters. Browning said that the altered juvenile sale calendar was one reason for the creation of the selected yearling showcase.

"The 2-year-old sales season needs to conclude before yearling sales begin – which makes a traditional July sale unfeasible," Browning said. "Our two Saratoga auctions are tied closely to the race meet. We desperately want to see a traditional Saratoga race meet as much as anyone. However, the details for the race meet – including whether spectators will be permitted – are understandably not finalized. We are at a point in time where we must provide our sellers with a definitive schedule so that they can make sales plans for their yearlings."

The new Fasig-Tipton sale will fall just before the bellwether Keeneland September yearling sale across town, which is set to open Sept. 14 and run through Sept. 26. Both sales fall shortly after the rescheduled Kentucky Derby, set for Sept. 5 in Louisville. Browning said that Fasig-Tipton coordinated the dates of its new sale with Keeneland for the travel convenience of buyers, and both companies noted that positioning the two sales closer together will allow health and safety protocols to be coordinated.

"Keeneland is committed to do everything possible to help our industry navigate these extraordinary times," Keeneland president and CEO Bill Thomason said. "These past few weeks, we have had many conversations with Fasig-Tipton about constructive efforts to benefit the industry, including scheduling of sales and consistent safety protocols. We will continue to work together on policies and measures to keep participants safe and provide assurances to our customers as we move forward."

Fasig-Tipton announced earlier this month that it would have online bidding in place for the Midlantic juvenile auction and all future sales, and that it would expand its phone-bidding capabilities to better serve buyers unable to travel or attend sales under these circumstances.

In a newsletter offering updates on racing and sales issued recently, Bob Elliston, Keeneland's vice president of racing and sales, indicated that that company also was working to expand its remote bidding capabilities.

"We will have contingencies in place to make sure that wherever you are, and whatever means of communication you use, you will be able to bid on a horse," Elliston said. "Keeneland has been developing in this space for some time, even before the COVID-19 crisis hit. While plans are in place to conduct this year’s sales in our traditional live format, we must have measures in place to expand all bidding opportunities, especially in the event that physical participation is impacted. From phone and internet bidding to expanded digital capabilities, we are excited to share these plans with you in the coming weeks."