These summer sales were certainly sizzling. This week Fasig-Tipton in Lexington, KY hosted two sales. On back-to-back hot and humid days the Summer Selected Horses of Racing Age Sale and The July Sale of Selected Yearlings took place. I attended the later and I saw plenty of fantastic bloodstock.
Fasig-Tipton is the oldest North American Thoroughbred auction company dating back to 1898. By 1972 the renowned auction house expanded to have a permanent spot in Lexington near where they had been doing business in the Horse Capital of the World for many years.
On Monday, July 10, 2017 the Summer Horses of Racing Age Sale was held for the 5th consecutive year. I was not able to attend but I am eager to share the highlights of the successful sale. Everything went so much better this year versus 2016. The sale topper was a lovely mare, Distinta. She wore hip 423 and she is the 5 year-old offspring of Summer Bird and Miss Kitty. Distinta has had 23 starts and she raced this month as well. She recently won a Grade 2 Stakes at Gulfstream Park, her regular track. She was sold by Taylor Made Sales to Medallion Racing. Distinta sold for $600,000 versus the $575K brought by 2016’s topper.
Moreover, this year, 3 horses total sold for $500K or more. 9 sold for $200K or more. In all 84 head were sold. They netted over $8 million dollars versus more than $5 million in 2016. The average was over $96K vs more than $70K last year. The median was at $56K when it was $42K in 2016. Also favorably, less did not meet their reserve with results showing a RNA of about 15% versus close to 20% the prior year. Fasig-Tipton was pleased with the sale results.
Fortunately, I was able to attend much of the The July Sale on Tuesday, 7/11/17. Starting at 10 am and lasting 300 hips until roughly 6 P.M., I arrived about mid-way thru the sale. I quickly became distracted taking photos of the lovely grey horses. Yearlings by Graydar, Creative Cause, Flashback and Cairo Prince were quite the eye catchers. I also love Shackleford so I kept a look out for his crop as well. It was a busy time, snapping photos and listening to the rapid fire bidding.
There is so much to see at one time that in a blink you can miss that winning shot. Thankfully, I had the camera fixed on Hip 290. She sold from Bluewater Sales to OXO Equine. The filly by Medaglia d’Oro and Hung the Moon was the sales topper at a price of $1 million dollars. That is an all-time high tie with a price not seen since 1982. In 2016 the sales topper sold for $475K.
The top colt in the sale brought the second highest price. He was hip 194, by Orb and Aurora Prospect. He sold for $310 K from Gainesway to Kenny McPeek for Fern Circle. Missing a good picture of him, I followed the colt to the barn for a photo but he was camera shy. Darn.
Meanwhile, the trend continued. The sale went much better than it did in 2016. 18 head sold for $200K or more. In 2016, 17 head sold at that price. This year, 172 Thoroughbreds were sold for over $16 million dollars. The prior year, when 183 horses sold, the total price was a bit under $16 million. The average horse fetched over $93K versus about $86K in 2016. The median this session was $70K versus the former $60K. The reserve not attained was 72 head versus 110 in 2016. Again, Fasig-Tipton was pleased and optimistic.
I share their thought and hope that the upswing continues for the following Thoroughbred auctions this year. I am going to spend much of my day visiting yearlings at 5 Kentucky farms today. Please, check back as the yearling watch continues and for all things Thoroughbred related.
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Hi. I am here in Lexington for a year to learn more sbout TB racing. I would love to meet you. Your writing is terrific.
Thank you, Amy! Looking forward to meeting you!