Sale records were established for the number of horses sold, gross revenue, and average price at the Fasig-Tipton Midlantic Eastern fall yearling auction, which ended on Wednesday. In addition, more horses were sold for six-figure prices than ever before.
"All in all, it was an 'up' sale; there's no question about that," said Mason Grasty, the executive vice president of Fasig-Tipton Midlantic, which is based in Maryland. "One of the most pleasing parts of the sale, to me, was that while we offered more horses, the buy-back rate was down."
After three days of selling, the final figures stood at 566 horses sold for a gross of $11,289,300 and an average of 19,946. Compared to 1999's results, those statistics registered gains of 10.1%, 14.6%, and 4.1%, respectively. However, the median price, $9,100, was up by only 1.1% from a year ago.
Nineteen horses brought prices of $100,000 or more compared to the sale total of 15 in 1999. The buy-back rate was 21.9%, with 159 of the 725 yearlings offered failing to find new homes. Last year's buy-back rate was 24.2%.
The most expensive yearling sold on the final day was a Crafty Prospector colt that brought $110,000. Produced from the stakes-placed Topsider mare Just Tops, the colt was purchased by Peter Angelos' Marathon Farms from the Welker Sales Agency, which sold the session topper as agent for Lochlow Farm.
In all on Wednesday, 190 yearlings were sold for a gross of $3,122,000 and an average of $16,432. Business was somewhat stronger during the final session a year ago, when the 176 yearlings sold grossed $3,231,100 and averaged $18,359.