A high buy-back rate and only one break-out horse were the key points Monday during the first session of the two-day Fasig-Tipton Texas 2-year-olds in training sale at Lone Star Park.
Tests conducted on juveniles that participated in under-tack shows prior to the Ocala Breeders' Sales Co.'s March select auction did not detect any performance enhancing-drugs, but therapeutic medications were found in blood samples from three horses whose consignors had not reported the treatments, said Tom Ventura, general manager and director of sales for OBS.
The Blood-Horse, Inc., is introducing a new sales supplement that offers more detailed information in an easy to read format.
The Ocala Breeders' Sales Company's March select auction of 2-year-olds ended with a bang on Wednesday. A Dehere ridgling became the most expensive juvenile ever sold by OBS when he brought a $1,050,000 bid from trainer Todd Pletcher, who was representing pharmaceutical executive Eugene Melnyk.
On March 12, the Nasdaq composite index sank below 2000 and the Dow Jones industrial average experienced a staggering 436-point drop. The following day, Barretts conducted its select sale of 2-year-olds in training and suffered one of its worst financial beatings ever. The gross, average, and median all declined sharply. The buy-back rate climbed to its second-highest level in the auction's history. And the sale failed to produce a seven-figure horse for the first time since 1996. Just a coincidence? Gerald McMahon didn't think so. The Barretts president saw a direct link between Wall Street's crash and his California-based company's plummeting fortunes.
A son of Dehere bought last fall for $50,000 was purchased Wednesday by Eugene and Laura Melnyk for $1,050,000 to top the Ocala Breeders' Sales Company's March 2-year-olds in training sale in Ocala, Fla. The price not only represented a healthy return on the price paid by consignor Hartley-DeRenzo Thoroughbreds at last year's Keeneland September yearling sale, but it was a record paid for any 2-year-old sold by OBSC.
How do you get a classic winner? Do you build up a broodmare band, then nurture the resulting offspring and race them as homebreds? Or do you leave all the work associated with foal production to someone else and go shopping at one of the many sales that offer young horses? Combing the sales for classic prospects is a viable option. In fact, during the past 15 years, most winners of the Kentucky Derby (gr. I), Preakness (gr. I), and Belmont Stakes (gr. I) were offered at public auction prior to their classic triumphs.
Hip No. 316, a colt by Cahill Road consigned by Eisaman Equine, Agent worked an eighth of a mile in :10 2/5, the fastest work at the distance at the second session of the Under Tack Show for the Ocala Breeders' Sales Company's March Sale of Selected 2-Year-Olds in Training. The colt is out of Blockbuster Lady, a half sister to stakes winner Lady Blockbuster.
The same Wild Zone colt that zipped the fastest eighth-mile at the Ocala Breeders' Sales video preview on Sunday took top honors again on Saturday for his :21 3/5 quarter-mile at the first session of the Under Tack Show of the company's March sale of selected 2-year-olds.
Although three of the top broodmare offerings failed to sell, the Equine Spectrum online auction Thursday resulted in five fillies or mares selling for $1.4 million. Half of the 14 stallion nominations in the catalog were sold for an additional $300,000.
Beginning with its July sale, Fasig-Tipton Company will offer consignors the opportunity to contribute to organizations benefiting retired racehorses through its Blue Horse Charities.
Buyers at the top of the juvenile market may turn out in droves for an auction. They may fill the grandstand to watch under tack shows, and send a small army of veterinarians and agents to look at the horses. But they are just as picky as ever, maybe even more so. That was the harsh reality faced by consignors during the Fasig-Tipton Florida select sale at Calder on Feb. 27.
While the number of horses sold and gross were down, the average rose 15.3% at Fair Grounds Sales Co.'s 2-year-olds in training sale held March 13. A total of 23 juveniles were sold for $384,300 at the New Orleans sale, good for an average of $16,708. Last year, 31 2-year-olds sold for $449,200 for an average of $14,490.
One day after the stock market plunged dramatically, business at the Barretts Equine Ltd.'s March select sale of 2-year-olds in training suffered significant setbacks. Gross revenue dropped by 33.8%, and the average and median prices fell by 27.2% and 44.0%, respectively. The buy-back rate was 45.4%, reaching the second-highest level in the auction's history.
Keeneland has signed a letter of intent to purchase a 25 percent interest in the online auction company Equine Spectrum. An additional 25 percent interest in the company is scheduled to be available to other investors in the Thoroughbred industry. Keeneland's board of directors will vote on the move at its April meeting.
A colt by Dehere whipped through a quarter in :21 3/5, the fastest work at the distance at the second session of the Under Tack Preview for the Ocala Breeders' Sales Company's March Sale of Selected 2-Year-Olds in Training.
Excessively Unique, a daughter of In Excess, was euthanized after breaking down Sunday during Sunday's preview show for Barretts Equine's 2-year-olds in training sale that will be held Tuesday at Fairplex Racetrack. The filly had just finished working an eighth of a mile in :10.6 and was galloping out in the first turn at Fairplex Park when she fractured her right foreleg. Her rider, Quarter Horse jockey Ralph Seville, was not injured.
A Bertrando--St. Helens Shadow colt worked the fastest quarter-mile in 20.7 seconds during Sunday's preview show for Barretts Equine's 2-year-olds in training sale that will be held Tuesday at Fairplex Racetrack. The colt consigned by Becky Thomas' Sequel Bloodstock was timed in 9.8 seconds for his first eighth of a mile, a time faster than any ever recorded for an eighth mile workout at a Barretts under tack show.
A colt by Wild Zone zipped an eighth in :10 1/5, the fastest work at the distance Sunday among horses slated to sell next week. The workout was during the first session of the Under Tack Preview for the Ocala Breeders' Sales Company's March Sale of Selected 2-Year-Olds in Training.
Fasig-Tipton will not conduct a sale of 2-year-olds in training this spring in Kentucky. The company decided to call off its early May auction at the Churchill Downs Sports Spectrum in Louisville, Ky., because "it never achieved the level of success that we had hoped for," said Boyd Browning, Fasig-Tipton's general manager and executive vice president.
Colts by Bertrando and Cherokee Run turned in the fastest workouts on March 5 at the under tack show for the Barretts March select sale of 2-year-olds in training in Southern California. The Bertrando colt, who is named Ashen, covered an eighth of a mile in :10.1, and the Cherokee Run colt breezed a quarter mile in :21.9.
Equine Spectrum's online auction of 16 mares scheduled for March 15 includes such well-known names as grade I winners Luna Wells and Cara Rafaela.
Funeral services for longtime Keeneland auctioneer Tom Caldwell were held at Shepherd of the Valley on Tuesday, with burial following at Memory Gardens in Medford, Ore.
Excitement was high going into the Fasig-Tipton Florida select sale of 2-year-olds in training at Calder Race Course. The auction had a strong catalogue; the horses worked fast; and virtually every major buyer of juveniles showed up or sent a representative. But when the final figures were calculated Tuesday, business was down across the board from a year ago.
A Seattle Slew colt produced from the grade I winner Chic Shirine was purchased by Irish agent Demi O'Byrne for $1-million as the top priced offering during the early portion of Tuesday's Fasig-Tipton Florida selected 2-year-olds in training sale at Calder Racecourse. O'Byrne said the colt had the best pedigree of the offerings in the sale and had a nice workout during the under tack show, getting an eighth of a mile in 10 3/5 seconds. O'Byrne said the colt will be trained by Patrick Biancone for John Magnier and Michael Tabor.
A Gulch colt established what was believed to be a record for the Fasig-Tipton Florida juvenile sale when he zipped a quarter-mile in :21 1/5 seconds Sunday at Calder Race Course. The workout was the highlight of the second and final under tack show for the 2001 edition of the Florida auction, which will be conducted Tuesday.
Auctioneer Tom Caldwell, who joined the Keeneland sale staff in the late 1950s, died Feb. 23 of pancreatic cancer at his home near Eagle Point, Ore.
Samples collected from horses that breezed at the Fasig-Tipton Calder under-tack show Feb. 18 contained no performance-enhancing medication, test results showed.
The Racing Network has announced it will air a pre-sale under tack video produced by the Fasig-Tipton Sales Company for the upcoming 2-year-olds in training sale.
Equine Spectrum announced Friday that it will hold its online Select Bloodstock auction on Thursday, March 15. This auction will contain select graded stakes winning and graded stakes producing broodmares, broodmare prospects and racing prospects.
Topped by the $65,000 paid by agent Ramona Good for the Crafty Prospector mare Gamble For Gold, Fasig-Tipton Kentucky concluded its February mixed sale Monday with a 9% decline in average price.Tuesday the sales company held a special auction at the Paris, Ky., stockyards, to sell horses originally purchased by Bernice L. Givens Sykes at the Fasig-Tipton Midlantic December Mixed Sale.
Equine Spectrum, which launched its online auction sales last December with a sale of 2001 stallion nominations, is planning a breeding stock auction for the second week in March. Tom Biederman, Equine Spectrum executive director, said the company is targeting "high quality Thoroughbred breeding stock, including broodmares and fillies, or mares selling as racing and/or broodmare prospects. A number of top quality entries have already been received and will form the core group of what is sure to be an exciting auction."
An Irish River colt sold Tuesday for an Ocala Breeders' Sales Company record price of $900,000 already has a new owner. According to OBSC, agent Buzz Chace notified sales company officials that the colt will be owned by Raymond Dweck rather than Roger King, for whom he was initially purchased.
Fasig-Tipton Company held regional sales the weekend of Feb. 3-4 and both auctions were down in gross and average from the previous year. Fasig-Tipton Texas held its annual mixed sale at Lone Star Park on Feb. 3. The gross for the 142 horses sold was $568,100 and the average was $4,001. Fasig-Tipton Midlantic held its annual winter mixed sale on Feb. 4 at Timonium, Md. The 145 horses sold grossed $896,800, an average of $6,185.
"Just when you think it can't get much worse, it got worse," said Boyd Browning, executive vice president and chief operating officer of Fasig-Tipton, on Feb. 5. Browning was discussing complications involving the pending sale of 89 horses repossessed by Fasig-Tipton and Keeneland from the Maryland mystery buyer, Bernice L. Givens Sykes, who signed tickets for nearly $700,000 for 134 horses at the Keeneland November and Fasig-Tipton Midlantic December mixed sale and then failed to pay for them.
The Ocala Breeders' Sales Company reported there were no positive results of random drug tests taken on horses that worked out Jan. 29 in preparation for Tuesday's 2-year-olds in training sale at Calder Race Course. OBSC took blood samples from 21 horses that took part in the first Under Tack Show. An additional 22 horses were tested randomly during Sunday's second Under Tack Show. "Everything went well," OBSC general manager and sales director Tom Ventura said of the testing.
Gross purses in the United States topped $1 billion for the first time last year, according to statistics contained in the eleventh edition of "The Jockey Club Fact Book." In spite of slowing growth in handle, U.S. purses reached $1,030,839,223 in 2000, an increase of 7.0 per cent against 1999. Nearly two-thirds of the increase, however, came from Illinois, West Virginia and New Mexico, where the return of live racing to Arlington Park and legislative changes in all three states boosted combined purses by $42.7 million over 1999 levels.
Tik Tik Trinidad, representing Gooree Stud owner Eduardo Cojuangco, went to $1,450,000 ($645,178 U.S.) to buy the sale topper and establish a new filly yearling record at the New Zealand Premier Sale on Thursday.
Sensational New Zealand sire Zabeel dominated the first sessionof the National Yearling Sale conducted by New Zealand Bloodstock Tuesday at Karaka, near Auckland. Of the $14,822,500 gross (US$6,434,151), 16 filles and colts by Zabeel accounted for $4,985,000, roughly a third of the total receipts.
Working into a stiff headwind, a colt by Valid Expectations sped a quarter mile in :21 3/5, the fastest work at the distance at the Ocala Breeders' Sales Company's Under Tack Preview for the 2001 Sale of Selected 2-Year-Olds in Training at Calder Race Course on Feb. 6.
Horses being sold on behalf of Ernest Frank Cossey's TLC America grossed more than $2-million to boost the Barretts Equine Ltd.'s January mixed sale that concluded Jan. 23. Based on the strength of the TLC horses and other major dispersals, Barretts reported 429 horses were sold for $6,026,200. The sale average of $14,047 represented a 149% gain over the 2000 sale average of $5,623 when 367 horses grossed $2,063,500. The 34 horses that did not sell represented 7.3% of the total through the ring. The buyback rate last year was 14%.
Our Majestic Cat, a Tabasco Cat filly originally purchased as a yearling for $410,000, was bought by John D. Gunther for $185,000 to top Monday's first session of the Barretts Equine Ltd.'s January mixed sale.
Downturns were recorded in four major statistical categories during the Ocala Breeders' Sales Company's winter mixed sale, which was conducted Jan. 15-18 in Central Florida. Compared to 2000's figures, the number sold fell by 5.9% and gross revenue decreased by 27.8%. In addition, the average price and median price suffered declines of 23.2% and 23.6%, respectively. Tom Ventura, the general manager and director of sales for OBS, cited the weakening American economy as a possible factor in the setbacks. He also offered other theories:
David Shimmon, the California entrepreneur who has been one of the Thoroughbred industry's leading yearling buyers since emerging at the Keeneland July sale in 1999, has elected to have D. Wayne Lukas train four of his purchases from last year, including a $4.2 million Seattle Slew colt who topped Fasig-Tipton's Saratoga yearling sale.
Keeneland sold 11 horses for $72,700 during its January Internet Auction on Thursday. The online sale provided consignors an opportunity to sell horses which failed to reach their reserve bid during the recently completed January Horses of All Ages Sale. Keeneland offered 64 horses that either did not reach their reserve or were withdrawn from the January sale. Keeneland has held online auctions in conjunction with the September yearling, November breeding stock and January sales.
A general meeting of the National Association of Two-Year-Old Consignors in Ocala, Fla., Tuesday evening focused on a number of concerns, including medication, perception problems in the media, and buyer confidence. Much of the meeting focused on industry unity and introduction of a slogan that promotes horses coming out of the 2-year-old sales: bid, buy, and race with confidence.
Adena Springs South went to $105,000 for Backatem, a 4-year-old stakes winning daughter of Notebook sold as a broodmare prospect, to top the second of two consignor preferred sessions at the Ocala Breeders' Sales Company's Winter Mixed Sale. Consigned by Summerfield, Agent, Backatem was a stakes winner of $89,750 and is a full-sister to graded stakes-placed
Proud Crusader, Hip No. 182, brought a final bid of $67,000 to top the opening session of the Ocala Breeders' Sales Company's 2001 Winter Mixed Sale. Consigned by Double S Farm, Agent, the 7-year-old Crusader Sword mare, in foal to Gilded Time, was sold to R Bar S Thoroughbreds. Proud Crusader is out of stakes winner Very Proud and is a half-sister to stakes winner Proud and True as well as stakes placed Proud Proud Proud and Cut Proud.
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