by Pete Denk
There has not been a lot of positive news in the Thoroughbred auction market this year, but the Fasig-Tipton Kentucky fall yearling sale has a unique claim on its side. The auction sold the two most recent winners of the Kentucky Derby Presented by Yum! Brands (G1).
Canceled last March but reinstated by popular demand, the fall sale begins its three-day run at Newtown Paddocks in Lexington on Monday.
“No question, it was a market driven decision to bring the sale back,” Fasig-Tipton Chief Operating Officer Dan Pride said. “There is a good core group of buyers and sellers who use this sale as an important part of their process, so we responded to their wishes to keep the sale on the calendar.”
Not only did the last two Derby winners sell at the fall sale, the final yearling auction on the U.S. calendar, but they sold affordably.
Pinhooker Eddie Woods paid $60,000 for 2008 Derby winner Big Brown at the 2006 sale from the consignment of his breeder, Dr. Gary Knapp’s Monticule.
Dominion Bloodstock Agency purchased 2009 Derby winner Mine That Bird for $9,500 at the ’07 fall sale from Highclere Sales, agent.
“Buyers like this sale because there’s value,” Pride said. “On the selling side, there are horses that have been pointed to earlier sales—July and Saratoga specifically, and some that were pointed to [the] Keeneland September [yearling sale]—that for some extenuating circumstance had to miss an earlier sale and need more time. This is an outlet for horses that needed another 30 or 60 days to make it to the market. There is also a core group of clients that offer the majority of their yearlings at this sale.”
Last year’s sale saw 553 horses reported as sold from 859 offered for total sales of $7,471,900, a 29.5% decline from 2007. Average price was $13,512, a 27.8% drop from the previous year, and the median declined 45% to $5,500.
A Giant’s Causeway colt, named Macarthur Causeway, topped the 2008 sale at $310,000. Francis and Barbara Vanlangendonck’s Summerfield, agent, consigned the colt, who is unraced.
The buy-back rate was 35.6% last year, and sales officials expect it will be difficult to move horses again.
“This sale was difficult last year in terms of depth,” Pride said. “We’ll have bright spots just like we’ve had at other sales, but there will be problems in terms of depth of market, and it’s realistic to think it will be a challenge again this year for the sellers.
“But we have got a very diverse catalog. When you look through the sire index, you will see some of the best stallions available, and we expect to have a diverse group of buyers as well.”
Sessions begin daily at 10 a.m. EDT.
For an online catalog, click here.
Pete Denk is sales editor for Thoroughbred Times