Joe McMahon has seen it all at the Fasig-Tipton New York-bred preferred yearling sale. Actually, 30 years ago he practically had to oversee it all. That’s because McMahon, patriarch of McMahon of Saratoga Thoroughbreds in Saratoga Springs, N.Y., was the founder of the sale, and because of his vision, the sale has grown into one of the strongest yearling sales in the country. Last year, the New York-bred sale attained the fourth-highest average among all yearling sales in North America, trailing only the Saratoga select, Keeneland September, and the Fasig-Tipton Kentucky July sales. The New York-bred sale was inaugurated in 1988, after McMahon approached Tim Cone and Terence Collier of Fasig-Tipton about conducting a sale in Saratoga. “First and foremost, I was interested in developing a marketplace for New York-breds in New York,” said McMahon, who founded his farm in 1971 with his wife, Anne. “The breeding program here in New York got started in the 1970s, and we almost immediately had sales, but we could never get them going. The venue was wrong; the dates were wrong; we could never get any traction. We had sales down at Belmont in the fall. “Finally, we decided that Saratoga was the place they had to sell New York-bred yearlings to make it a success. “I went to Fasig, and at that time talked with Tim Cone as well as Terence Collier when they were up here in late winter/early spring, and we talked about it. And they said, ‘If you want to find the horses and have it on our desk by June 10 or 15th, we’d do a sale.’ That was the way it happened. “I think they asked for a minimum of 50, and we got around 60. Some of the same consignors that are there now were who supported it in the first year.” McMahon has had horses in the sale every year and had sale-toppers a number of times. He’s proud of the sale’s growth and success in producing good horses for buyers. “As far as what it’s done for New York breeding, it’s moved it to a whole other level altogether,” he said. “These horses aren’t just horses that compete only in New York. They can compete anywhere. We sold Funny Cide out of that sale, and he went on to win the Kentucky Derby and Preakness. “It’s been fun to see it achieve the success it’s had. Now, it’s the best regional sale in the world.” The principal reason for the sale’s success is the monetary strength of the state breeding program in New York. In 2017, the New York incentive program distributed more than $15 million in awards to breeders, owners, and stallion owners, and that is in addition to the rich purses offered to statebreds racing in the state. Also instrumental is that the structure of the New York state breeding program allows breeders to take their mares out of state to high-priced stallions and then foal in the state, thus becoming eligible for the lucrative state purse program. A look at the stud fees of sires of yearlings cataloged in this year’s New York-bred preferred sale, to be held Aug. 11-12, illustrates why the sale is so strong – it does not rely solely on New York-based stallions. The highest stud fee for any stallion in New York in 2018 was $7,500, with Freud, Central Baker, and Mission Impazible at that fee, along with Laoban and War Dancer, who each stood his first season in 2017. It is the out-of-state sire power that fuels prices in the New York-bred sale. Kentucky-based sires represented in the auction include the following established sires who all stand for $50,000 or more – Bernardini ($85,000 fee; one yearling in the New York-bred preferred sale), Candy Ride ($80,000; one yearling), Distorted Humor ($50,000; two yearlings), Empire Maker ($85,000; one yearling), Ghostzapper ($85,000; two yearlings), Into Mischief ($100,000; three yearlings), Kitten’s Joy ($60,000; three yearlings), Malibu Moon ($75,000; two yearlings), More Than Ready ($75,000; five yearlings), Pioneerof the Nile ($110,000; one yearling), Quality Road ($70,000; two yearlings), Speightstown ($100,000; two yearlings), Tiznow ($50,000; three yearlings), Uncle Mo ($125,000; two yearlings), and Union Rags ($60,000; one yearling). This year’s sale has a catalog of 327 yearlings, an increase of 10.5 percent over the 2017 sale, which posted strong increases in average price, median price, and gross receipts. “Our consignors have once again supported us with the very best of the New York-bred yearling crop,” Fasig-Tipton president Boyd Browning said. “This year’s catalog, which is up in numbers, offers more selection while maintaining a high standard of quality. “Whether your goal is to participate in the lucrative New York-bred racing program, or to win a Grade 1 race in New York, Florida, or Dubai, this sale and the New York-bred program offer the type of quality to get you there.” The cover of the 2018 catalog features photos of Grade 1 winners Audible, Diversify, and Mind Your Biscuits. Audible, winner of this year’s Grade 1 Florida Derby, was sold for $175,000 at the 2016 New York-bred sale and resold as a 2-year-old in training at the Fasig-Tipton Florida March sale for $500,000. The 2018 catalog includes a filly from the first crop of Triple Crown winner American Pharoah, who stood for a fee of $200,000 at Coolmore’s Ashford Stud in 2016. Bred by Joanne T. Nielsen, the filly is out of the Distorted Humor mare Visions of Annette, an unplaced half-sister to two stakes winners and to the dam of Grade 1 winner Evening Jewel. The March 3 foal is consigned by the Summerfield agency of Francis and Barbara Vanlangendonck, agent for Nielsen’s Sunnyfield Farm. New York-based stallions who are represented by their first crop of yearlings in the preferred sale are Japan, Majestic City, Micromanage, and Normandy Invasion. Micromanage, by Medaglia d’Oro, was a distance-loving runner who raced 30 times from ages 2 through 5 and won seven races, including the Grade 3 Skip Away. He stood his initial season at Rockridge Stud for a fee of $5,000. Normandy Invasion, by Tapit, never won a stakes, though he was second in the Grade 2 Remsen at 2 and the Grade 1 Wood Memorial at 3, and showed a lot of ability. He was fourth in the Kentucky Derby. He stood his initial season in 2016 at Keane Stud for a fee of $5,000. “It’s attracting very high-end buyers,” McMahon said of the sale. “Every major trainer is at the sale now – people like Chad Brown, Todd Pletcher, Chris Clement, Steve Asmussen, Bob Baffert, just about everybody. It’s gone way beyond what I thought it would be.”