Record gross for Midlantic

The Fasig-Tipton Midlantic May 2-year-old auction ended Tuesday with a sale record of $9,805,300 in gross receipts for two sessions in Timonium, Md.

In all, 322 lots were sold, surpassing the total of $9,658,600 in 1998, when 319 lots were sold. Last year's total was $9,312,600 for 282 lots sold.

The top seller this year brought $320,000 from Klaravich Stables for a Smoke Glacken colt. Niall Brennan Stables, agent, consigned the colt, a son of the Al Nasr mare Baydon Belle. The colt had run the fastest three-eighths of a mile at the auction's under-tack show, in 33.20 seconds

Despite the rise in total revenue, the Fasig-Tipton Midlantic sale saw slight declines in the average and median prices. The average price dipped 8 percent to $30,451, and the median fell slightly from last year's $22,500 to $22,000. Buy-backs increased, rising from 26 percent last year to 29 percent.