Despite Dips, Midlantic Market 'Solid' For Quality Horses

Gross revenue, average price, and median price all took big hits at the Fasig-Tipton Midlantic December winter mixed sale. In addition, the buy-back rate rose, indicating less satisfaction among consignors with the prices brought by their horses.

Boyd Browning, the Fasig-Tipton Company's executive vice president and chief operating officer, mentioned a couple of reasons for the setbacks.

"The Mea Culpa Stables dispersal gave us a big boost last year, with several horses selling for $100,000 (and up)," he said. "And everyone is aware that the bottom end horses are significantly cheaper than they were this time a year ago.

"But all in all," he continued, "the market for quality was still very, very solid. Marshall Silverman, who is a pinhooker, said he had never had so much trouble trying to buy horses. He only got one. So, for the right horse, there was still very, very strong demand. We just didn't have enough of the right horses."

During the auction, which was conducted Dec. 3-5 at Timonium in Maryland, 566 horses were sold for a gross of $4,315,700, an average of $7,625, and a median of $3,100. Compared to last year's results, the number sold increased by 17.2%, but the gross, average, and median declined by 20.2%, 31.9%, and 45.6%, respectively. The buy-back rate was 20.2%, up from 15.9% in 1999. Last year, the 483 horses sold grossed $5,408,700 and averaged $11,198. The median was $5,700.

Poised to Pounce, a 9-year-old winning daughter of Smarten, was the 2000 sale topper, attracting a bid of $142,000 from Dark Hollow Farm. Produced from the multiple stakes winner Lady Lyndy (by Bold Favorite), the mare is a half-sister to Smart 'n Quick (by Wise Echange), who captured the 1987 Laurel Budweiser Breeders' Cup Handicap, the Omni International Maryland Oaks, and five other added-money events while earning $711,804. Consigned by Chanceland Farm, agent, Poised to Pounce is the dam of Quick 'n Smart (by Polish Numbers), winner of the 2000 Seton Hall Stakes and a division of the 1999 Egret Stakes at Meadowlands. Poised to Pounce sold in foal to Polish Numbers.
Poised to Pounce's weanling daughter by Partner's Hero was the only other horse in the auction to bring a six-figure price. Also consigned by Chanceland, as agent, she was purchased for $125,000 by Richard L. Golden.