Fasig-Tipton concluded two days of Thoroughbred auctions July 12 with mixed economic indicators that could reveal increased polarization in one part of the bloodstock market.
The sales company held its fourth Selected Horses of Racing Age sale July 11 with generally positive figures, while its July Selected Yearling Sale on July 12 was down across the board. The Horses of Racing Age auction included not only current racehorses, but also breeding stock from the dispersal of Eutrophia Farm.
Final numbers for the Horses of Racing Age sale were strong, with gross sales up 26.3 percent over last year (for a total of $5,048,500), average up 14 percent (to $70,118). Median was down slightly from $48,000 to $42,000. The rate of Reserve Not Attained (horses failing to meet the minimum price or “reserve” set by their sellers) in the auction ring was also down, from 32.2 percent last year to 20.8 percent. That figure likely was influenced by the horses from the dispersal, which were all sold without reserve prices.
The highlight for the racing age portion was the sale of 7-year-old mare Stormy Lucy, who was among the horses not attaining their reserve but that sold after the auction in a private sale. Fasig-Tipton and other auction houses allow consignors and buyers to log sales made in private transactions on the grounds, which count toward the auction’s fi nal fi gures.
“Throughout recent years we’ve posted ‘PS’s for private sales,” said Fasig-Tipton president Boyd Browning of the practice. “It’s the nature of the business. You’re never done selling until everyone on your list says no.”
Monday’s auction was also abuzz with surprise that Donegal Moon, a 3-year-old colt offered for sale by Taylor Made for Donegal Racing, brought a bid of $1.6 million but did not attain his reserve.
Bidding was less enthusiastic Tuesday, when Fasig-Tipton presented a full catalog of Thoroughbred yearlings in the first major public yearling auction on the calendar. Last year’s yearling sale saw the auction’s highest average and median since 2007, and the number of entries was up for 2016, but the prices were not. Gross sales were down 21.2 percent (to a total of $15,756,500 for 183 horses), average dropped 11.8 percent (to $86,101), and median was down 22.1 percent (to $60,000). The RNA rate was up significantly from 2015, rising from 28.8 percent to 37.5 percent.
The highest-priced yearling July 12 was a son of Curlin that brought $475,000 from buyer Hartley/De Renzo Thoroughbreds, which purchased the horse together with Breeze Easy Stable. Randy Hartley of Hartley/ De Renzo told reporters that the plan for the horse would be to pinhook him or sell him as a 2-year-old in early 2017 with the hopes of making a profit.
The next major public auction in Kentucky is the Keeneland September Yearling Sale, on Sept. 12-25.