Fasig-Tipton has cataloged 670 horses for its Midlantic Eastern fall yearling sale, which will be held in Timonium, Md., Oct. 5 and 6. The number is down 28% from 2008, when 930 horses were in the book and the auction was three days in length.
“I think there were some mares that weren’t bred, and some yearlings didn’t show up because their owners knew they weren’t going to fit the marketplace and be commercially viable,” said Fasig-Tipton chairman Walt Robertson of the reduction in the open auction’s size.
Fasig-Tipton is renovating the Maryland sale pavilion, which is located on the state fairgrounds. Improvements will include theater-style seating, carpeting and ceramic tiles for the floors, and an expanded snack bar that was designed to be more user-friendly. Work is scheduled to be completed prior to the yearling auction.
During last year’s sale, the 483 horses that sold grossed $8,211,600 and averaged $17,0001. The median was $9,000. Compared to 2007, the number sold fell 15.9% while the gross dropped 38.4%. The average declined 26.8%, and the median was down 10%.
The buy-back rate increased from 25.2% in 2007 to 35.9% in 2008.
The sessions for this year’s sale will being at 10 a.m. (EDT) each day.
The catalog can be viewed at www.fasigtipton.com.