Fasig-Tipton Review: Buyers and Sellers Talk About July Yearling Market

The Fasig-Tipton Kentucky July select yearling auction sold its first seven-figure horse since 1983 and generated sale records for its average and median prices last Monday and Tuesday in Lexington. Here's what some buyers and consignors had to say about the market:

James K. Chapman, bought Kafwain -- Peyvon colt as weanling for $40,000 and resold him for $485,000 at Fasig-Tipton:
"I've try to find babies when it's not all there yet (physically) and people miss them. He walked good, he was correct, and he filled out. He just wasn't there yet and then it all came together. We reserved him at $99,000, but I knew he was going to sell well.

"It's a good sale for the right individuals -- the horses with the real good bodies. They stand out even if they are a little bit light on pedigree."

Randy Hartley, Florida pinhooker:
"Personally, I didn't think there was the quality of horses here this year. I know the sale is way stronger than it was last year, but I don't think the quality was as good. This is just a strong sale.

"The fillies that I wanted to give $100,000 for are bringing $250,000 and 300. It seems to be that a lot of good horses come out of this sale and I think people just come here to try to buy them. Buying-wise, it's harder. The end users are getting most of these horses."

Tony Bowling, Florida pinhooker:
"I think the very upper end is definitely light, but it's real strong under that. I think the middle to the lower upper end is stronger than it has been in quality, but the very cream at the top is lighter than it has been.

"Fillies are really strong; they are much stronger than they've been I guess it's because of the broodmare prospects being so hard to buy last fall. It's been hard to buy the fillies. Usually we can come in and buy some fillies that we want, and t hey're pretty easy to buy."

Danzel Brendemeuhl, Florida pinhooker:
"I think this is very strong sale with better individuals than I've seen here in the past. And I think they're a lot of buyers and its very lively. It's hard to get a horse bought. I tried for 20 and got one."

Meg Levy, Bluewater Sales:
"It's pretty much the same as always. The good stuff sells very well. What's nice here, that seems to be different from past July sales at Fasig-Tipton, is there are people for the middle horse. You usually can sell the commercial really good stuff, and there's competition for those. But there's people here to buy middle range racehorses as well as pinhooks. There might be a little more of a broader spectrum of buyers. We were very happy with our consignment. I think lesser numbers might be a good thing here I like it (the catalogue size) being right around 500; it feels good to me."

Jody Huckabay, Elm Tree Farm:
"For the right individual that vets, it's a st rong sale. The other ones, unfortunately, there's not a whole lot of market for. But maybe that's the way it should be.

"The lower the number (in the catalogue) is better because last year, there were just too many horses. There wasn't enough money to go around. So, I would feel the fewer numbers the better. I personally wish they would cut it just a little bit more. They don't need more horses, they just need more quality. And that goes for just about any sale. But they (Fasig-Tipton) have done a good job."

Randy Miles, Virginia pinhooker:
"It's awesome. I wish I had some selling in here. The horses are very consistent; they're very nice athletes, The prices will show you that. People are ready to buy; it's nice to see. I didn't know what to expect with the turmoil going on in the Middle East. But it's been pleasant to see, and I'm not complaining one bit. I'm very happy."

Danny Pate, Florida pinhooker:
"I think it's a really great sale. Everybody's here. and they've got a lot of money to spend. The pinhookers are coming off a banner year at the 2-year-old sales. It's hard to get a bargain here. Bill Graves and all the Fasig-Tipton team did a great job putting the horses together.

"A lot of (pinhooking) home runs have come out of this sale. Murray Smith bought What a Song here. Dean DeRenzo and Randy Hartley bought the Forestry colt here (and resold him for a world record price of $16 million). People want to come back here for that long ball. That's what it's all about, hitting the home run."

Neil Howard, Gainesway Farm:
"I think its been a great sale. It seems to be strong in all areas. There's a few sires that they (the buyers) don't want, but the physicals were here, the people were here, and there were more trainers here than I think I've ever seen before. We've been pleasantly surprised the whole sale. There seems to be a large demand for horses right now."

Gayle Van Leer, California bloodstock agent:
"I think they did a good job by putting less horses in the catalogue. Especially today (the second session of the auction), the individuals are nice."

John Stuart, Bluegrass Thoroughbred Services:
"I think the sale is a real good sale. If the rest of the year is anything like this sale, the price of yearlings going to be good for the good ones for this year, if its anything like this sale. For some reason, it just seems like to me the fillies are bette this year in this sale.

"On my better conformation horses, I got more money than I thought they would bring. On my horses that were only average and that didn't appeal to a reseller, they were difficult to sell, as always. They're always diffuclt to sell and always should probably be."

Richard Galpin, Newmarket International:
"It's a strong marke, very strong. It's up on last year, and that's a very healthy sign. It's a wonderful thing for the industry. They (Fasig-Tipton) have done what they wanted with the sale. They've tightened it up a little bit. They've got some very nice horses, and there are a lot of people who are wanting to buy. The one thing that Fasig-Tipton does best is they reach out very well to purchasers, and they make purchasers feel happy and wanted."