Midlantic sale ends with declines

LEXINGTON, Ky. - Fasig-Tipton Midlantics May preferred 2-year-old sale ended Tuesday evening with declines compared to last year, despite lively trade at the top of the market at the Timonium, Md., auction.

The two-day auction sold 327 horses for gross receipts of $15,757,400, down 19 percent from last years total for 350 horses. The average slipped 14 percent, from $55,711 last season to $48,188, and median fell 19 percent, from $34,500 to $28,000.

The buyback rate the percentage of horses who failed to reach reserve prices set by their sellers rose from last years figure of 28 percent to 34 percent in 2008.

The sale-topper, sold at the Tuesday session, was a $575,000 colt from Lion Hearts first crop. Puglisi Racing purchased the dark bay or brown colt, a son of Bye the Bye. Sold by Crupis New Castle Farm, agent, as Hip No. 402, the Lion Heart colt is a half-brother to two-time Grade 1 winner Schossberg and to stakes winner San Romano.