Fasig-Tipton New York-bred sale ends with record gross, strong median

A pair of $380,000 colts, by Violence and Practical Joke, led the way as the Fasig-Tipton New York-bred preferred yearling sale finished with a record gross and one of its best median figures all-time on Monday evening.

The sale "continued the strength and momentum that we witnessed in recent years at this sale, and also the strength that we saw throughout the selected sale last week," Fasig-Tipton president Boyd Browning, Jr., said. "There were lots of really outstanding horses on the grounds. It was a very good market, a very good sale, and very pleased with the results."

Fasig-Tipton reported 217 statebred yearlings sold over two sessions for gross receipts of $20,806,000. That edged the previous record gross established at last year's sale, which came in with a catalog 29 percent smaller than the latest renewal. In 2022, 188 yearlings brought $20,175,000.

This week's cumulative average was $95,880. Although it finished as the sale's third highest in history, it did mark a decline of 11 percent from $107,314 last year, which was the auction's second-highest average all-time. Last year's sale finished with 12 horses sold for $300,000 or more, topped by $700,000 and $600,000 colts. This year's sale finished with eight horses crossing the $300,000 threshold, and the top of the market failed to reach that high bar, explaining the decline in average.

The median, however, ticked up 1 percent, to $75,000 from $74,000. The $75,000 figure is the New York-bred sale's second highest all-time, trailing only the $76,000 record established in 2018. The median is considered a key figure in assessing overall market health, because, unlike the average, it is less affected by outlying prices at the top of the marketplace.

The buyback rate rose to 28 percent in what has been a selective marketplace, compared to 19 percent last year, which was the auction's second-best figure in that category. The New York-bred sale often finishes with a higher buyback rate than some "open" sales because lucrative racing opportunities for New York-breds – including added purse incentives for statebred runners competing in open company this summer at Saratoga – make it more attractive for a breeder to retain a horse than accept a lesser offer. With rich breeders' awards on the table, as well, breeders oftentimes want to ensure the horse remains in the state.

The New York-bred program is "better than it's ever been," said Linda Rice, a leading trainer in the state. "I don't know yet if [the additional purse incentives] will go on all year, or if it's just going to be a Saratoga thing, but I couldn't be more excited about that, being someone who buys a lot of New York-breds, races a lot of New York-breds, and stays in New York year-round."

The colt by Violence set the bar for the high price at Sunday evening's opening session, purchased by Baccari Bloodstock, as agent for a partnership that includes Toby Keith's Dream Walkin Farms.

The colt, bred in the Empire State by Fred W. Hertrich III, was a successful pinhook after being purchased for $175,000 by SKPJ Stables as a short yearling out of this year's Keeneland January horses of all ages sale. He was consigned in Saratoga, as agent, by Hill 'n' Dale, which stands Violence in Kentucky.

The colt is the first foal out of the winning Liam's Map mare Liam's Lookout, a half-sister to Grade 2 winner Itsaknockout, stakes winner Storm Power, and Grade 3-placed Hot Sean. Kentucky Oaks winner Believe You Can appears on the catalog page.

On Monday afternoon, a colt by hot young sire Practical Joke tied for the top price, with bloodstock agent Tom McCrocklin winning the bidding war. The colt, bred by Donald Michael McCormick, was consigned by Nardelli Sales, as agent.

The colt is out of the Grade 3-winning Awesome Again mare Golden Mystery, whose lone winner from three starters is multiple stakes winner Apalachee Bay. Golden Mystery is a half-sister to Grade 3-placed Beloveda, dam of stakes winner Ganadora and stakes-placed Mistress of Love; and to All Saint's Day, dam of stakes winners Holywell and Sinister Brew.

Like Violence, Practical Joke stands in Kentucky, at Coolmore's Ashford Stud. The leaderboard was dominated by Kentucky stallions, with the highest price for a New York sire coming for a $150,000 colt from the second crop of McMahon of Saratoga Thoroughbreds resident Solomini. He was purchased by Reeves Thoroughbred Racing, marking the only buy of the sale for one of the state's most prominent owners. In fact, Dean and Patti Reeves anticipated this year's summer New York-bred marketplace being so strong that they attempted to get ahead of the curve, purchasing several weanlings in-state last year.

"We used to feel like we could really be strong at this sale, but a lot of people are taking notice of this program, especially with the purse increases," Dean Reeves said.

For hip-by-hip results, click here.

:: Want to learn more about handicapping and wagering? Check out DRF's Handicapping 101 and Wagering 101 pages.