Fasig-Tipton Midlantic Sets Records for Gross, Median, and Average
Updated: Wednesday, May 25, 2005 5:53 PM
Posted: Tuesday, May 24, 2005 8:30 PM
The Fasig-Tipton Midlantic juvenile auction ended its sizzling two-day run Tuesday at Timonium with all-time highs for gross revenue, average price, and median price. In addition, the hot market generated a high price for a horse of $450,000, which equaled the Maryland-based sale's record.
"We had a terrific sale based on the fact that we had a terrific catalogue and based on the fact that we've had terrific success with the graduates of this sale," said Boyd Browning, Fasig-Tipton's executive vice president and chief operating officer. "People are very comfortable coming here to both buy and sell horses."
The auction enjoyed a huge publicity boost when one of its graduates, Afleet Alex, scored a dramatic victory in the Preakness (gr. I) just two days before the sale started and a year after he sold for $75,000. The colt's trainer, Tim Ritchey, was among this year's most active buyers. The auction also attracted such well-known shoppers as Elizabeth Moran of Brushwood Stable and Dogwood Stable.
In all, 386 horses were sold for a gross of $18,911,500, which represented in increase of 43% from a year ago. The average of $48,994 and the median of $31,500 were up 31% and 43%, respectively. The buy-back rate fell from 24% last year to 22% this year.
"You guys had a great horse sale," consignor Mike Mulligan told Fasig-Tipton officials. "It was perfect."
The previous records of $13,227,800 for gross and $37,367 for average were set in 2004, when 354 juveniles were sold. The median remained at $22,000 for the third year in a row.
Ivywood Angel, a racy-looking Unbridled's Song
filly with a big white blaze, topped this year's auction, selling during the final session. Egyptian/American brewing company executive Ahmed Zayat, who lives in New Jersey, was the buyer. He could not attend the auction because he was overseas, but he was represented by a team that included David Wilkenfeld and Tom Mallios, who are helping him build his stable.
Zayat, who previously had dabbled in the Thoroughbred business, is making a big push this year to buy young horses and he has spent more than $2 million at juvenile sales. His trainer is the New York-based Jimmy Toner, who examined Ivywood Angel before the auction, but was not present when she sold.
Wilkenfeld and Mallios said they were especially impressed by Ivywood Angel's pre-sale work. She covered three furlongs in :34 3/5.
"If you look at these horses, they're all geared for speed," Mallios said. "She was one of the few horses, that when she started working, the girl was right up on her. She (the worked rider) never urged her; she never scraped her neck. When she turned the corner, she (Ivywood Angel) was scraping the rail. She never bore out. And she was one of the few horses that switched her lead at the top of the stretch, where she was supposed to, instead of mid-stretch."
Said Wilkenfeld: "This horse looks like she's going to be stronger the longer she goes."
Ivywood Angel is out of the 13-year-old stakes-placed Groovy mare Michele Royale, who won six races. Her family also includes graded winner Cagey Exuberance. Ivywood Angel's full brother, Striking Song, sold for $1.4 million at the 2000 Fasig-Tipton Saratoga select yearling auction.
Florida pinhookers Mike Paramore and Tony and Robin Hendrix of Equine Legacy consigned Ivywood Angel. They purchased her for $200,000 at the 2004 Keeneland September yearling sale. Paramore said the filly's breeder, Pollock Farm, owned a quarter-interest in her at the time she was sold at Fasig-Tipton Midlantic.
Ivywood Angel shares the Fasig-Tipton Midlantic juvenile record with Lady H, a Silver Deputy
filly that sold for $450,000 last year.
Zayat is the chief executive officer of Al Ahram Beverages Co. Wilkenfeld said Zayat's goal is to develop a top racing stable. He plans to shop at the yearlings sales later this year and also to eventually get involved in breeding.
The final session figures this year were 192 horses sold for a gross of $9,876,000, an average of $51,438, and a median of $32,000. Last year, 179 horses sold for a gross of $6,684,800, an average of $37,345, and a median of $22,000. The buy-back rate dropped from 25% last year to 20% this year.Results from Fasig-Tipton
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