Fasig-Tipton Midlantic sale moved to late June

Fasig-Tipton has announced the postponement of its Midlantic 2-year-olds in training sale in response to the evolving coronavirus pandemic. The move puts the juvenile sale season in North America on hiatus for the next two months, with no activity scheduled until June, at the earliest.

The Midlantic sale had been scheduled for May 26-27, already pushed back a week from its original date to comply with the Centers for Disease Control’s recommendations against public gatherings. The sale is now slated for June 29-30 at the Maryland State Fairgrounds in Timonium. An under-tack preview show will be held June 24-26.

Fasig-Tipton had planned to hold a second Midlantic juvenile auction in June, but that sale is now on hold. In a release announcing its new calendar, the company will consider holding an additional sale at a later date, after assessing demand and need.

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“The latest data on the progression of the COVID-19 pandemic, coupled with social distancing recommendations and stay-at-home orders, has necessitated the change of dates,” Fasig-Tipton president Boyd Browning said in the release. “Fortunately, we had already planned on having an auction in Maryland in late June, so moving the May auction to these June dates made sense for all participants.”

Only one auction has been held in the North American juvenile market thus far. The Ocala Breeders’ Sales Co. March auction posted understandable declines. The sale’s gross receipts dropped 37 percent from 2019, the average price fell 34 percent, and the median declined 34 percent. The buyback rate was 40 percent.

Three 2-year-old auctions scheduled at major racetracks over the next three months have been canceled entirely – the Fasig-Tipton Gulfstream sale and the Keeneland April sale, both of which had been slated for early this month, and the Fasig-Tipton Santa Anita sale, which had been scheduled for early June.

In addition to the Fasig-Tipton Midlantic postponement, OBS has postponed its two sales originally scheduled for April and June. The Florida company’s spring sale, originally scheduled for April 21-24, is now scheduled for June 9-12. The June sale has been pushed back to July 14-17.

Although this year’s Fasig-Tipton Midlantic sale potentially will struggle as the market responds to the uncertainty of the world at large and a plunging stock market, a number of standout juveniles intended for other auctions will likely be rerouted to the catalog, and the demand for stock could spark an upward trajectory. The May Midlantic sale had been steadily growing in numbers and popularity and has produced seven-figure horses in five consecutive years, led by Gamine, the sale-record $1.8 million filly who helped the auction finish with record gross and average figures last year.