The gross revenue and average price suffered sharp declines, but the median price held steady during the Fasig-Tipton Midlantic December mixed sale, which ended its two-day run on Tuesday in Maryland.
The 378 horses sold grossed $2,478,600 and averaged $6,557. Compared to a year ago, the number sold declined by 15.6% while the gross and average dropped by 29.8% and 16.8%, respectively. The median of $3,200 was the same. The buy-back rate soared from 22.8% last year and 30.0% this year. In 2001, 448 horses were sold for a gross of $3,530,500, and an average of $7,881.
Mason Grasty, the executive vice president of Fasig-Tipton Midlantic, blamed the declines on a lack of quality mares in the catalogue.
"It's not like we had a bunch of $50,000 mares that didn't bring what they were worth," he said.
A weanling Silver Charm filly brought the top price of $103,000 for the final session and for the entire sale. Consigned by Bill Reightler, agent for Mantua Farm, she was purchased by Josham Farms. Her dam is the 11-year-old Alwasmi mare Promiseville, who captured the Bold Queen Stakes on turf at Laurel in 1994.
The filly is a half-sister to Canada's 2002 champion older mare Small Promises (by Carson City), whose campaign included victories in the Algoma Stakes at Woodbine and the H.A. Hindmarsh Stakes at Fort Erie. Small Promises also scored in the 2000 Shady Well Stakes at Woodbine.