After suffering big downturns in business in 2009, many yearling sales have shown signs of stability this year. Fasig-Tipton officials believe their Midlantic Eastern fall yearling auction also will be on firmer financial ground during its two-day run, Oct. 5 and 6, in Timonium, Md.
“I think it will be a solid sale,” said Fasig-Tipton president Boyd Browning. “We’ve seen stability throughout the yearling sales of 2010 thus far and we would expect that same trend to continue in Maryland.”
The auction’s catalog has 645 horses, down only 3.7% from 2009’s total of 670. As of Oct. 4, 67 horses out of this year’s group had been scratched, according to information posted on Fasig-Tipton’s website.
Each session will begin at 10 a.m. (EST).
“There are some very nice horses in the sale, and there are a number of New York-breds that should benefit from the recent announcements in New York (that plans for a casino at Aqueduct are moving forward),” Browning said.
Last year, when 387 yearlings were sold, the gross dropped 31.6% from 2009 to $5,616,450. The average price fell 14.6% to $14,513. And the median price plunged 38.9% to $5,500. The buy-back rate declined to 27.1% from 35.9% the previous year.