The Fasig-Tipton Eastern fall yearling sale returned to more solid financial ground during its two-day run that ended Oct. 6 in Timonium, Md. The gross revenue grew 11.7% from 2009 while the average price rose 10.3%. Last year, those same figures dropped 31.6% and 14.6%, respectively, from 2008.
The median price, meanwhile, fell only 2.7% after declining 38.9% a year ago.
According to Fasig-Tipton president Boyd Browning, the trends were consistent with the modest improvements or stabilization seen at many other yearling auctions this year after the Thoroughbred marketplace experienced major setbacks in 2009 following a global economic downturn.
“Overall we are pretty pleased,” said Browning after the Midlantic sale’s gross and average halted their declines of three years and two years, respectively, in length. “The horses generally sold as you would have expected. The top of the market was a little stronger than I anticipated, but not dramatically so. We continue to see a lot of competition and demand for the quality horses.”
Recent developments involving alternative gaming in New York and Maryland, he believed, were too new to have had much of an impact on the auction’s statistics.
The 392 horses that sold grossed $6,273,800 and averaged $16,005. The median, down for the fourth year in a row, was $5,350.
In 2009, when 387 yearlings were sold, the gross was $5,616,450. The average was $14,513, and the median was $5,500.
The buy-back rate rose from 27.1% in 2009 to 30.1%. The number of horses bringing six-figure price increased from seven to 10.
An Indian Charlie colt was the most expensive horse sold during the auction’s second session, bringing $160,000 from Jack H. Smith III. Herb and Ellen Moelis’ Candyland operation bred and consigned the bay yearling.
The colt is the second foal out of the winning Marquetry mare Ten Halos, who finished second in the 2005 Colleen Stakes at Monmouth Park and the 2006 Smart Halo Stakes at Laurel Park. She also was third in the 2006 Marshua Stakes at Laurel.
Ten Halos is a half sister to 2008 Super Derby (gr. II) winner My Pal Charlie (by Indian Charlie), 2004 Amsterdam (gr. II) and Lafayette (gr. III) Stakes winner Bwana Charlie (by Indian Charlie), and 2007 El Camino Real Derby (gr. III) winner Bwana Bull (by Holy Bull).