F-T Ky. Oct. Sale Offers Variety and Quality
The Fasig-Tipton Kentucky October yearling sale is bigger than ever. There are 1,254 horses cataloged for the auction, which will be held Oct. 22-24 in Lexington. The number is up 24.5% from 2011’s total of 1,007.
“We had a tremendous sale here last October,” said Fasig-Tipton president Boyd Browning of factors contributing to the auction’s growing popularity. “There also have been great success stories coming out of here with two recent Kentucky Derby (Presented By Yum! Brands, gr. I) winners in Big Brown and Mine That Bird as graduates. The sale has gained in both credibility and respect among both buyers and sellers, and it has established a significant identity as a legitimate sale that you can’t afford to miss.”
According to Richard Kent of Florida-based Kaizen Sales, this year’s strong yearling market has made it tough for many pinhookers, bloodstock agents, and end users to get horses bought. And that’s good news for the October auction.
“I’ve talked to so many people who are going to the Fasig-Tipton sale because they just haven’t filled their orders,” he said. “They haven’t been able to buy the number of horses they wanted to have whether they were buying to resell or they were buying to race.”
Browning also has observed a surge in interest.
“There have been a lot of phone calls about it; the number of credit applications is high; and our visits to racetracks have gotten a very positive response,” he said. “You get a feeling that there are people coming to the sale who haven’t been here in the past. We’ve received requests for additional catalogs and people are asking us, ‘Can you get us a hotel room?’”
Each of the auction’s sessions will begin at 10 a.m. (EDT).
“There is a very good selection of horses,” Browning said. “The sale really offers something for everybody, whether they’re coming here with $5,000 to spend on a horse or with $500,000 to spend on a horse. We have the stock to fill orders in all prices ranges and for all types of horses.”
In 2011, the auction’s gross revenue increased 81.4% from the previous year to $17,046,800. Its average price rose 76.3% to $24,010, and the median grew 140% to $12,000. The buyback rate was 19.8%.
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