The 2008 Fasig-Tipton Kentucky winter mixed auction posted an 18.9% gain in average price. The gross revenue rose 1.9% while the median price remained the same as in 2007. But this year's edition of the sale, scheduled for Feb. 9 in Lexington, isn't expected to perform as strongly.
The final results of the Keeneland January horses of all ages sale in Lexington were sobering, with setbacks of 53.4% in gross revenue, 48% in average price, and 44.1% in median price from a year ago. But they weren't anything new to the people who market Thoroughbreds.
A Street Cry yearling filly was the only horse to bring a six-figure amount as the gross revenue, average price, and median price dropped dramatically for the fourth consecutive day at the Keeneland January horses of all ages sale in Lexington.
Read what participants in the Keeneland January horses of all ages sale had to say during the auction's fourth session Jan. 15 in Lexington.
Session three of the Keeneland January horses of ages sale in Lexington was brightened by the most expensive yearling sold so far, a $390,000 son of Maria's Mon. But the auction's key business figures remained grim when compared to 2008's results.
Read what consignors and buyers had to say about the market at the Keeneland January horses of all ages sale.
The Keeneland January horses of all ages sale continued its scary downward spiral during the second session of its six-day run in Lexington. The gross revenue Jan. 13 dropped 66.2% from a year ago while the average price fell 61.6%. The median price plunged 55.8% while the number of horses sold was down least of all, 12.1%.
The results were grim, but not surprising, as Keeneland opened its January horses of all ages sale in Lexington during a time of worldwide economic downturns. The gross revenue Jan. 12 plummeted 44% from the auction's first session in 2008 while the average price dropped 45.9%. The median price suffered the most damage, falling 50.9%.
Azeri failed to find a new home during the opening session of the Keeneland January horses of all ages sale Jan. 12 in Lexington. Michael Paulson, saying she was "like part of the family," bought back the 2002 Horse of the Year for $4.4 million. Last year, Paulson set a world Thoroughbred auction record when he bought back Azeri's s first foal, Vallenzeri (by 1992 Horse of the Year A.P. Indy), for $7.7 million at the Keeneland September yearling auction.
Azeri, who was expected to top the Keeneland January sale, was instead bought back on a bid of $4.4 million.
Grade I winner Island Fashion, who is in foal to 2004 Horse of the Year Ghostzapper, sold for $950,000 around noon during the Jan. 12 opening session of the Keeneland January horses of all ages auction in Lexington. Naohiro Hosoda of the Shadai Corp. wrote the name of Katsumi Yoshida, the owner of Northern Farm in Japan, on the sale ticket.
Azeri and Island Fashion will be in the spotlight as the Keeneland January horses of all ages sale starts its six-day run in Lexington Jan. 12. Azeri was the 2002 Horse of the Year while Island Fashion was a grade I winner.
The Thoroughbred marketplace ended 2008 with dramatic declines, and all signs point to more tough times ahead as Keeneland gets ready to open its 2009 selling season with its January horses of all ages auction in Lexington.
Keeneland kicks off its 2009 selling season on Jan. 12 in Lexington with its January horses of all ages auction. Scheduled to be offered during the opening session of the six-day auction is 2002 Horse of the Year Azeri, who is in foal to 2004 Horse of the Year Ghostzapper.
Construction is under way on a new office building at Fasig-Tipton's Newtown Paddocks property near Lexington. The structure, which will be located in front of the sale pavilion, will have three levels (two above ground and a basement). A walkway will connect the second above ground level of the office building with the second story of the sale pavilion.
Bayne Welker will join Fasig-Tipton's management team as an account executive early next year. He has been the director of public sales and stallion marketing at Mill Ridge Farm near Lexington for nine years. He also is the president of the Consignors and Commercial Breeders Association.
The marketplace continued to take a pounding from negative economic forces outside the Thoroughbred industry during the third day of the Keeneland November breeding stock sale in Lexington. Compared to 2007, the Nov. 5 session was down 42.1% in gross revenue, 33.3% in average price, and 36.5% in median price. The buy-back rate soared from 20.9% last year to 28.2% this year.
Three days after Stardom Bound sold for $5.7 million at the Fasig-Tipton Kentucky November select mixed sale, her dam, My White Corvette, brought $825,000 during the third session the Keeneland November breeding stock auction in Lexington.
Horsemen discussed the tough market at the Keeneland November breeding stock sale during its second session Nov. 4 in Lexington.
The opening session of the Keeneland November breeding stock sale generated some fireworks, but the results were a lot less spectacular than in 2007 when the gross revenue ($109,064,000) and the number of horses sold for $1 million or more apiece (28) established world Thoroughbred auction records for a single sale session. Also last year, Playful Act set a $10.5-million world mark for a broodmare or broodmare prospect, which since has been eclipsed by Better Than Honour's $14-million price.
Even though we're in the midst of a global financial crisis, a special horse can still bring a jaw-dropping amount. Better Than Honour, the dam of back-to-back Belmont Stakes (gr. I) winners Jazil and champion Rags to Riches, set a world Thoroughbred auction record for a broodmare or broodmare prospect Nov. 2 when her price soared to $14 million during the Fasig-Tipton November select mixed sale in Lexington.
Vacare, winner of the 2006 Queen Elizabeth II Challenge Cup Stakes (gr. IT) and an earner of $1,123,706, has been scratched from the Keeneland November breeding stock sale because of the struggling economy and downturns at many recent Thoroughbred auctions, said the mare's co-owner, Jon Kelly, Oct. 30.
A number of female runners that competed in the Breeders' Cup World Championships at Santa Anita Park are entered in the upcoming Fasig-Tipton November select mixed and Keeneland November breeding stock sales in Lexington. By far the most successful was Stardom Bound, who scored in the Bessemer Trust Juvenile Fillies (gr. I) as the favorite. She is Hip No. 65 in the Fasig-Tipton auction, which is scheduled for Nov. 2.
Tennessee equestrian and horse breeder Lisa Cook wanted a Thoroughbred mare to breed to her Thoroughbred stallion, but perceived high prices always prevented her from buying one at high profile auctions such as Kentucky's Keeneland sale. But since the economy drove prices at this year's Keeneland September yearling sale downward, sport horse enthusiasts like Cook might be thinking differently.
Zayat Stables has 90 horses cataloged in Eaton Sales' consignment for the Keeneland November breeding stock sale. They include 2007 Santa Ysabel Stakes (gr. III) winner Baroness Thatcher and Premium Wine, who scored in the 2007 Gallant Bob Handicap at Philadelphia Park and finished third in the 2008 Carter Handicap (gr. I) at Aqueduct.
The huge Keeneland September auction provided the yearling selling season's biggest and stiffest test of the commercial appeal of new stallions' progeny. Because many young sires had a large number of offspring offered, their success depended less on a few carefully-selected top individuals and more on their ability to pass along good conformation consistently to their offspring.
Keeneland has cataloged 5,709 horses for its November breeding stock sale, setting a world record for a Thoroughbred auction. The total exceeds the previous mark of 5,555 for this year's Keeneland September yearling sale and is up by 294 lots from the former November sale mark of 5,415.
The Keeneland September yearling sale closed out its 15-session run in Lexington with downturns in every key business figure and gross revenue that fell short of last year's total by a whopping $57,019,500. But even though the setbacks were significant, many participants in the auction were pleased by its performance at a time when the nation is reeling from a financial meltdown and there are growing economic woes abroad.
Better Than Honour, the 2007 Kentucky Broodmare of the Year, will be the last horse through the ring during the Fasig-Tipton Kentucky November select mixed sale, which has 188 lots in its catalog. The auction will be conducted Nov. 2 in Lexington beginning at 3 p.m. (EST).
Frank Stronach's Adena Springs operation has canceled the 2008 edition of its annual broodmare sale. The auction, which featured mares in foal to Adena Springs stallions, had been held for 11 consecutive years previously.
Grade I winners Panty Raid and Honey Ryder, along with La Comete, the dam of grade I-placed Munnings, will be offered during the Fasig-Tipton Kentucky select mixed sale Nov. 2 in Lexington.
Participants in the Keeneland September yearling sale talk about falling prices for horses and the effects of America's growing financial crisis.
A $1.1-million Medaglia d'Oro filly that topped the fourth session of the Keeneland September yearling sale was resold privately by Keeneland officials to celebrity chef Bobby Flay Sept. 13 after the original purchaser and his client were unable to provide sufficient proof of credit, according to Keeneland vice president Harvie Wilkinson.
B. Wayne Hughes will stand three new stallions in 2009--Notional, Tiz Wonderful, and Into Mischief.
The National Thoroughbred Racing Association (NTRA) board of directors met Sept. 11 in Lexington and selected two new board members, Antony Beck of Gainesway Farm and Reynolds Bell Jr., chairman of the Thoroughbred Owners and Breeders Association.
Buyers and consignors discuss the market at the Keeneland September yearling sale during first four days, but especilly during the third and fourth sessions.
Jim Craig, the goalie for the United States' 1980 "Miracle on Ice" hockey team at the Winter Olympics, stopped by the Keeneland September yearling sale Sept. 11.
No horses inspired buyers to pay dazzling seven-figure amounts during the third day of the Keeeneland September yearling sale in Lexington. But some of the results for the auction's first open session were encouraging after significant downturns during the two select sessions that kicked off the sale.
Dubai pumped more money into the select sessions of the Keeneland September yearling sale than it did a year ago even though Sheikh Mohammed's bloodstock manager, John Ferguson spent less. And buying entities associated with Dubai also bought more horses.
When the second session of the Keeneland September yearling sale ended Sept. 9, Olin Gentry and trainer Bob Baffert of Legends Racing rushed to the barn area to look at more horses and get ready for the next day's selling. It's been a busy auction, so far, for the new racing venture, whose formation was announced just prior to the Belmont Stakes (gr. I) in June when a presentation was made to potential investors in New York.
Some people call the Keeneland September yearling sale a marathon because of its length: 15 sessions this year. Others think it's more like Walmart because of the large number of horses cataloged, which has risen to a record of 5,555. To Geoffrey Russell, Keeneland's director of sales, it's more like a Broadway show.
When the Keeneland September yearling sale opens in Lexington, things are going to get very interesting very quickly. Remember Playful Act (by Sadler's Wells), who brought a world record price for a broodmare of $10.5 million last November? Her first foal, a daughter of Giant's Causeway, is Hip No. 12 during auction's first session Sept 8.
It's crunch time for North America's Thoroughbred yearling market, which faces its biggest test when the Keeneland September sale gets under way. There are more horses cataloged than ever before, 5,555, and they will be offered over 15 sessions beginning Sept. 8 in Lexington.
Keeneland will play host to the international Thoroughbred community for the next two weeks as it conducts its 65th annual September yearling sale. The catalog is the largest in the auction's history, with 5,555 horses listed.
Keeneland Productions and HRTV are partnering to provide live coverage of the opening two days of the September yearling sale, September 8-9, which are select sessions.
Fasig-Tipton officials reported Aug. 11 that there were no positives for exogenous anabolic steroids among horses sold during the company's Saratoga select yearling auction that were tested at the request of their buyers.
It was announced Aug. 6 that the Storm Cat horse Seeking the Dia, a five-time stakes winner, four-time group winner, and earner of more than $5 million, will join the stallion roster at John G. Sikura's Hill 'n' Dale Farms near Lexington for the 2009 breeding season.
Hermes will introduce a special edition scarf and tie to benefit Blue Horse Charities at the Cross Gate Gallery Aug. 4-5 in Saratoga Springs, N.Y.
Perhaps Mark Toothaker of Legacy Bloodstock said it best during the Fasig-Tipton Kentucky July select yearling auction: "The bull's-eye is getting smaller on what the marketplace is wanting. It's gone from about the size of a quarter to the size of a dime."
T. Wayne Sweezey, former farm manager and managing partner of Darby Dan Farm, is no longer associated with the farm.
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