Business Declines at F-T Midlantic Sale
The Fasig-Tipton Midlantic preferred sale of 2-year-olds in training suffered downturns in the number of horses sold, gross revenue, average price, and median price during Monday’s opening session at Timonium in Maryland. The most expensive horse sold was a $230,000 E Dubai colt.
“The market might be a little thinner at the bottom, but everything else seems fine,” said Fasig-Tipton president Walt Robertson. “In the past, we’ve had some pretty good action from several different (foreign) countries that we don’t have right now. I don’t know why (the foreign buyers didn’t come).”
Fasig-Tipton reported that 158 yearlings were sold for a gross of $7,213,300. Their average was $45,654, and their median was $27,000. Compared to last year, the number sold and gross declined 10.2% and 21.2%, respectively. The average was down 12.3%, and the median fell 8.5%. In 2007, the 176 juveniles that sold grossed $9,158,700 and averaged $52,038. The median was $29,500.
The buy-back rate rose from 27.6% in 2007 to 34.7% this year.
Produced from the 15-year-old winning Spectacular Bid mare Twice Forbidden, the session-topping E Dubai colt is a half-brother to stakes winners Don Corleone (by Incurable Optimist) and Tin Cup Chalice (by Crusader Sword). Donald Brooks and Nick Cammarano, clients of and investors in West Point Thoroughbreds, purchased the bay colt from Nick de Meric, agent. West Point founder and president Terry Finley represented Brooks and Cammarano, who work on Wall Street, at the auction.
Finley said Brooks and Cammarano owned a small interest in the colt as part of pinhooking venture in which West Point was involved. Buzz Chace, as agent for LF Stable (Finley and Lewis Lakin), bought the colt for $135,000 at the 2007 Fasig-Tipton New York-bred preferred yearling sale. Prior to the Fasig-Tipton Midlantic auction, the 2-year-old worked a quarter mile in :21 4/5.
“He's a very smooth horse, and he's really well-balanced," Finley said. "He was small in January, so we decided, ‘Let’s not push it; let’s give him as much time as possible.' About 40 days ago, Nick (de Meric) said, ‘This little horse is starting to put things together.’ ”
Brooks and Cammarano “owned probably, I think, 8% of the pinhooking deal, so it wasn’t like a guy buying his 50% partner out,” Finley said. “I just tell them what I think when I get to the sale. What they don’t want to do is overlook horses just because they’re in our partnership. They said, ‘That doesn’t seem like a very smart thing,’ and I said, ‘You’re right; it doesn’t.’ ”
Said Chace: “He was a little dumpy horse; now he’s a gorgeous horse.”
The second and final session of the Fasig-Tipton Midlantic auction is scheduled for May 20, with selling beginning at 10 a.m. (EDT).
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