Both Fasig-Tipton officials and consignors have high hopes for the 2013 New York-bred yearling sale Aug. 10-11 in Saratoga Springs, N.Y., which has been on a tremendous upswing in recent years.
In 2012 cumulative sales for the auction were up 28% from 2011, with 138 horses sold for a total of $8,632,000 compared with $6,725,500 from 124 horses sold in 2011. The average rose 15% to $62,551 versus $54,238, while the median soared 43% to $50,000 from $35,000.
In 2011 supply and demand brought a sparkling upswing to the two-day sale, with number of horses sold and gross price up a respective 31.9% and 83%. The average advanced 38.7% and the median was up 16.7%, while the buy-back rate declined to 32.2% from 33.8% in 2010.
Those are just the prices. The number of horses offered is also on a steady rise; Fasig-Tipton has cataloged 299 horses for this year's sale, while 260 were consigned in 2012 compared with 216 in 2011 and 175 in 2010.
An increasing demand for New York-breds has changed the complexion of this auction. Thanks to a vastly-improved purse structure in the state that came with an influx of funding from video lottery terminal revenue, not to mention lucrative financial rewards from the New York Breeding and Development Fund, the racing industry is seeing a high demand for a New York-bred.
Breeders, owners, and stallion owners are continuing to invest in the business, and like last year, Fasig-Tipton officials anticipate the overall upswing will carry into the sale.
The catalog this year includes some strong sire power, with yearlings by horses like Tapit , War Front , the ever-popular City Zip , Posse , Freud , and Bellamy Road . Among those of interest are hip 299, a full brother to grade I winner Franny Freud; Hip 300, a half sister to New York Derby winner Amberjack; and Hip. 395, a half brother to grade III winner Naughty New Yorker.
Those attending the sale may also have extra in their spending budget after being shut out of the selected sale due to contentious bidding for top horses. A New York-bred yearling is definitely a more affordable option even with the climb in prices; in 2012 Mandy Pope's Whisper Hill Farm bought a Tapit colt consigned by Winter Quarter Farm, agent, for $330,000 to top the New York-bred sale.
Session one of the New York-bred yearling sale begins Aug. 10 at 7 p.m. EDT in the Humphrey S. Finney Sales Pavilion.