The Fasig-Tipton Midlantic sale of 2-year-olds in training ended its two-day run Tuesday in Maryland with an auction record median price. But the average price suffered a small setback from 2006, and the gross revenue declined to a greater degree with fewer horses sold.
"Given the fact that there was a certain degree of uncertainty in what was going to happen in all of these 2-year-old sales this year, the figures here would have to be very satisfactory for the sale company and the consignors alike," said Terence Collier, Fasig-Tipton's director of marketing. "I don't think there was any regional impact whatsoever. There was very little benefit for the regional-type of horses even in programs such as the Pennsylvania program that is coming on board with slots relatively quickly. It didn't have a significant impact on the sale or (the prices of) the individual horses."
The Fasig-Tipton Midlantic juvenile auction's final figures were 350 horses sold for a gross of $19,498,700, an average of $55,711, and a median of $34,500. Compared to last year, when 370 horses were sold, the gross dropped 8.2% from the sale record of $21,236,500 and the average declined 2.9% from the auction mark of $57,396. The median shot up 15.0% from $30,000. The buy-back rate increased slightly, from 27.2% in 2006 to 28.0% this year.
The previous record for median was $31,500, set in 2005.
During Tuesday's final session, the 174 horses sold grossed $10,340,000 and averaged $59,425. The median was $36,000.
Fasig-Tipton saved the best until nearly last. A Broken Vow colt, who was the Hip no. 652 of the 656 horses in the catalog, brought the sale-topping price of $575,000. His buyer was New Jersey bloodstock agent Buzz Chace, who was acting on the behalf of Terry Finley of West Point Thoroughbreds and Lewis Lakin. Trainer Michael Trombetta, sitting with two unidentified men, was the immediate underbidder.
The muscular bay colt breezed a quarter mile in :21 2/5. Produced from the 9-year-old winning French Deputy mare French Grand, he is a half-brother to stakes winner Kat Nan Do (by Formal Gold).
"He has a great mind; he has a lot of bone; and he's by a sire that is coming up with some really good horses," Chace said. "He worked very easily and well within himself."
Niall Brennan Stables, a Florida-based pinhooking operation, consigned the colt as agent. Kentucky bloodstock agent Mike Ryan purchased the colt for $140,000 at the 2006 Fasig-Tipton Kentucky July select yearling auction.
"That's a lot of money to pay for any horse, but he's got the looks and he's got the athleticism," Finley said. "Good prospects are expensive, so what are you going to do? Either you step outside your comfort zone and you buy those kind of horses or you stay on the sidelines."
Rick Violette will train the colt, according to Finley.
An elegant filly from the first crop of Kafwain brought the Fasig-Tipton juvenile sale's second-most expensive price of $355,000. Trainer Gary Contessa purchased her for Leonard Green and family's DJ Stable and Harold Lerner. Mark Hubley was the immediate underbidder.
The dark bay or brown filly breezed an eighth of a mile in :10 1/5, sharing the honors for the fastest work at that distance with 10 other horses. She is the first foal out of the 10-year-old winning Allen's Prospect mare Dotsie's Doll, who is a full sister to stakes-placed Gracie Allen and a half-sister to stakes-placed True Chompion and the stakes producer Beforward. Another family member is grade II winner Sir Shackleton.
Florida pinhooker Murray Smith, who consigned the filly as agent, purchased her as a weanling for $98,000 at the 2005 Fasig-Tipton Midlantic December mixed sale.