Fasig-Tipton began its mixed auction sale on October 17th with figures projecting to be relatively square with those achieved in 2015. The sale opened with the purchase of a $150,000 Street Cry mare. The auction is being hosted by Saratoga Racetrack in New York state.
There were 164 heads at the Fasig-Tipton auction selling for a total of $2,780,600. That equates to an average price of $16,955 per head, which represents a decline of 3% from the $17,493 average when 162 head grossed $2,833,800 in the 2015 auction. The median price fell 15%t from $10,000 to $8,500. With 97 horses not selling, the buyback rate was 37.2%. The buyback rate in 2015 was 46%.
“Most of the buyers will tell you there was fierce competition for the foals that are perceived to be above average, and less demand for those not seen as being of the same quality,” said Boyd Browning Jr., the CEO of Fasig-Tipton.
Two other yearlings sold for six-figures at the auction. The second highest price was an offspring of Into Mischief, which went for $125,000. Several other horses sold for $100,000 including a pair purchased by Browning himself. Another yearling to go for this price was a daughter of Candy Ride out of The Factor.
The numbers overall don’t reflect a downsize in sales overall. Fasig-Tipton has been especially proud of other sales throughout the year, so this one seems to be a bit of an anomaly. Sales figures overall depend on the quality of the available stock, and with no daughters emerging from well known stallions it’s tough to drive up numbers. This did seem to accelerate prices for the best horses in this particular sale, but it also impacted numbers of the below average foals.
The final yearling auction for Fasig-Tipton will be from October 24th to October 26th.