The buy-back rate rose of 26.0% in 2002 to 28.8% in 2003.
The 2-year-old in training sales market that has been rolling like a steam roller through 2004 will hit the Fasig-Tipton Midlantic sale grounds at Timonium when the two-day sale gets underway on May 17 and concludes May 18. Both sessions begin at 10 a.m."This is a very strong catalogue, in fact it is the largest catalogue (631 hips are consigned) we've ever had up there," said Boyd Browning, Fasig-Tipton's executive vice president and chief operating officer. "With Read the Footnotes coming out of this sale last year, and the way the market has gone all year we are very optimistic."Read the Footnotes, who finished seventh in the Kentucky Derby (gr. I) after winning the Fountain of Youth Stakes (gr. II), was topped the sale last year at $320,000 when trainer Richard Violette purchased him for Seth Klarman of Klaravich Stables. Niall Brennan Stables consigned the colt as agent for his breeder, Lawrence Goichman of Connecticut."Virtually all levels of the market has been strong this year," Browning said. "We're very enthusiastic about the upcoming sale and I have spoken with several consignors who say they have some nice 2-year-olds to offer."Last year 322 horses were sold for a gross of $9,805,300, an average of $30,451 and a median of $22,000. Compared to the sale company's figures for 2002, the number sold and gross increased 14.2% and 5.3%, respectively. The average and median fell 7.8% and 2.2%, respectively. In 2002 282 horses were sold for a gross of $9,312,600, an average of $33,023, and a median of $22,500.