Gross Up at F-T Texas Sale; Average Down
The sale of three six-figure horses boosted total revenue at the Fasig-Tipton Texas sale of 2-year-olds and horses of racing age April 1, but the 4.3% uptick in sales was offset by declines in average and median prices and a rise in the RNA rate.
Fasig-Tipton reported 80 horses were sold at the single-day auction at Lone Star Park for total receipts of $1,818,700, a 4.3% increase from the 2013 sale when 74 horses brought $1,743,750. The median price dropped 25% to $15,000, compared with $20,000 last year, and average price was also in negative territory, down 3.5% to $22,734.
The number of horses that failed to meet their reserve prices and thus going unsold rose from 30.2% in 2013 to 35.5%.
Tim Boyce, director of sales for Fasig-Tipton Texas, said this year's figures in the key statistical categories represent a market adjustment after last year's sale figures spiked upward: In 2013, total receipts rose 10.7%, up from the 2012 figure of $1,575,100 while average was up 19.7% from $19,689 in 2102 to $23,564, and last year's median of $20,000 rose 42.9% from $14,000.
"It's a pretty healthy marketplace after we went up quite a bit last year," Boyce said of this year's sale. "I think the consignors were pretty much all happy and satisfied with the marketplace. (The sale) went up last year quite a bit and then was able to somewhat maintain that spike this year."
The sale's three highest-priced horses came toward the end of this year's sale, which Boyce said was unfortunate for the horses offered earlier in the day.
"Our sale was pretty end-loaded," he said "It's just kind of cool early with all the heat at the back of the sale. After the sale I was like I wish I could have started with the back horse and gone forward. Given all that, it was a good sale in that we had a lot of action on a lot of different horses."
Boyce added that with a number of private sales after the final horse through the ring, there probably was not much of an increase in the buy-back rate.
"With the private sales we probably didn't have as much of an increase," he said. "It was only a blip anyway. I would say that the 5% (difference from last year) just got met with the private sales."
Topping the day's trading at $135,000 each were a Kentucky-bred colt by Harlan's Holiday, offered by Wolf Creek Farm, agent, and a Louisiana-bred filly by Munnings , who sold out of Bethe Deal's Inside Move, agent, consignment.
The son of Harlan's Holiday, bought by Dennis Foster, was one of two horses to post the fastest time of :10 1/5 for one furlong at the March 30 under-tack show.
Bred by Claiborne Farm, the bay colt is the first foal out of the placed Smart Strike mare Smart Music, a half sister to grade I winner and sire Include and four other stakes winners. He was a $25,000 purchase by David Rodawalt from the Claiborne consignment at the 2013 Keeneland September yearling sale.
The daughter of Munnings clocked an eighth of a mile in :10 4/5 at the under-tack show and sold to Louisiana horseman Carrol Castille.
Bred by Summer Grove Farm and Terry Gabriel, the bay filly is out of the winning Cobra King mare Viva Vega, a full sister to multiple stakes winner Follow Me Home. Viva Vega has produced four winners, including stakes winner Southern Dude, by Lion Tamer , and is from the family of Louisiana-bred star Hallowed Dreams, who won 16 consecutive races in 1999 and 2000.
Consignor Inside Move enjoyed a nice pinhooking profit after buying the filly for $15,000 as a short yearling at the 2013 Ocala Breeders' Sale Co. winter mixed sale.
Inside Move also sold the day's other six-figure horse, a Louisiana-bred filly by Pomeroy who was bought for $100,000 by Charles A. Castille Jr.
A $47,000 purchase by Inside Move at the 2013 OBS August yearling sale, the gray/roan filly clocked a furlong in :10 2/5 at the March 30 under-tack show. Jay Adcock and Lon Baronne bred her out of grade III winner Theresa's Tizzy, a Cee's Tizzy mare who also produced grade III winner Got the Last Laugh , by Distorted Humor , and stakes winner Puddifoot, by Red Giant.
Inside Moves also consigned a Kentucky-bred Distorted Humor half brother to grade I winner Great Hunter who RNA’d on a final bid of $85,000 early in the day but was later sold privately for $75,000, Boyce said.
For complete sale results, click here.
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