Lexington, KY - In perhaps another demonstration of the Thoroughbred bloodstock market’s resurgence, Fasig-Tipton achieved record figures for another year at its October Yearling Sale, which ran Oct. 20 – 22.
The auction wrapped up with total sales of $30,006,200 for 837 horses, with an average price of $35,850 and a median price of $18,500. All three figures were increases over the 2013 October sale, most notably the median, which rose 8.8 percent from 2013. The average was up 5 percent, and total sales rose 7.5 percent from last year.
Those numbers don’t do justice to the auction’s overall growth, however. Fasig-Tipton president Boyd Browning told media Wednesday night that comparing the 2014 October sale to the one in 2010 shows a much bigger change.
In 2010, total sales were less than a third of what they were this year--$9,395,300—and the $13,616 average price was also a fraction of what it was this year.
“It’s pretty remarkable when you think you can go from those levels in [that] period of time to $30 million in gross,” said Browning. “It’s a sign of a dramatic change in this market.”
Browning said the increases were anything but magic. He pointed to the catalog cover, which is dotted with photos of the six Grade 1 winners that have gone through the October sale, including Goldencents, Hardest Core, Ria Antonia, Declassify, Havana, and Admiral Kitten—two of whom won Breeders’ Cup races last year.
“It’s indicative of the racetrack performance of the horses who are on the cover, and have been on the cover [of the catalogue] in recent years,” he said.
There was one number that didn’t improve, however—the percentage of horses that did not attain their reserve price was up from 16.2 percent at the 2013 sale to 20.7 percent this year, having hit its highest during the first session at 28.7 percent. VP of Sales, Bayne Welker, said that part of the RNA rate was likely the more selective market, which doesn’t necessarily reward those selling in the mid- to lower level price ranges. Officials also pointed out that the rate improved in successive days, which could demonstrate high expectations on the part of buyers and sellers, who later came back down to earth.
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As was the case at Keeneland’s September Yearling Sale, Tapit offspring proved popular and expensive. Hip 984, a filly by Tapit out of Tabasco Cat mare Sage Cat, brought the sale’s top price at $410,000. The bay filly, who was consigned to the sale by Woods Edge Farm, is a half-sister to both stakes winner Elliecat and Grade 2 Sanford Stakes winner and sire Desert Party. The purchaser was Conquest Stables a Canadian-based operation belonging to Chicago-area businessman Ernie Semersky and business partner Dory Newell. Conquest, which has become a powerful buying force since its inception two years ago, also ponied up $400,000 for the sale’s second-highest priced yearling under the advice of trainer Mark Casse.
One other Tapit offspring sold at the auction, also for six figures. The other two that went through the ring did not attain their reserve prices.
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Somewhat farther down on the price scale, Korean buyers were especially active, picking up 17 horses for $455,000. A number of those purchase tickets (of which the priciest was $67,000) were signed on behalf of individual owners, rather than the Korean government. Previously, the government has purchased horses for resale back in Korea to save Thoroughbred investors the fuss and expense of traveling halfway around the world to pick up some good bloodlines at reasonable prices.
Earlier this month, Korean officials reported that the government had acquired stallions Tiz Wonderful and Any Given Saturday, who will begin stud duty there next season.
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Finally, a few Fasig-Tipton patrons may have thought they were hallucinating on Wednesday when Hip 1093 went through the back walking ring. The yearling, a son of Thunder Gulch out of Skip Away mare Spot of Beauty, is a very rare white Thoroughbred with some interesting markings.
Although gray and even pale gray Thoroughbreds are not unusual on the track, a truly white horse is one with no color around its muzzle, but which does not have the pink eyes and skin that indicate an albino. The color is thought to arise from a cluster of genetic mutations, rather than one gene, which explains why it happens so infrequently and sometimes in unrelated family lines. In the case of Hip 1093 (who already has a registered name, Painted Patchen), his dam is white, as was her mother, Patchen Beauty. Painted Patchen was born with several smatterings of chestnut on his coat, as well as brown ears (known as a “medicine hat” marking), which have since faded to a paler shade of brown.
Painted Patchen, who was consigned by Warrendale Sales, was purchased for $29,000 by Stoneway Farm, which is based at a 250-acre facility in LaGrange, Kentucky.