"I think tonight reality has set back in," said consignor Mark Toothaker of Legacy Bloodstock after the average declined 13.8% from a year ago during the first session of the Fasig-Tipton Saratoga select yearling sale.
Fasig-Tipton management is trying to keep the good times rolling at Saratoga.
The bloodstock agent will serve as the company's representative in Central and South America.
Fasig-Tipton president Boyd Browning calls the Kentucky select auction a "solid" start to the yearling selling season.
The Fasig-Tipton Kentucky July select yearling auction generated results in the opening session that indicated the market for young Thoroughbreds hadn't changed much since last year, according to the sale company.
Consignors are pleased with the number of end users and pinhookers they are seeing.
Auction company will set up hospitality areas at Belmont Park, Churchill Downs, Hollywood Park, and Monmouth Park.
He is the managing parner of Pedigree Consultants, and his role with that company will remain unchanged.
Fasig-Tipton has cataloged 202 yearlings for its 90th annual select yearling sale at Saratoga Aug. 2 and 3.
After several 2009 Fasig-Tipton July yearling sales graduates won graded stakes over the Memorial Day weekend, the sale company announced that 407 yearlings had been catalogued for this year's sale in Lexington July 13-14.
Richard Brown has been appointed as Fasig-Tipton's new European representative. Now working for Blandford Bloodstock, Brown is a regular participant in sales in North America and throughout the world.
American breeders and sales companies now have access to India, a market that had been off-limits to U.S. horses for the last five years due to import restrictions.
Gross, average, and median rise 23%, 14%, and 8%, respectively, while the buy-back rate falls, and a $650,000 Medaglia d'Oro filly sets a record for a female Thoroughbred sold at public auction in Maryland.
Improvements, which are scheduled to be completed in late June or early July include new seating, lighting, and colors.
Graves is the vice president of recruiting and selections; Welker is the vice president of sales.
The auction has attracted a large group of domestic and foreign buyers.
Company president Boyd Browning says catalog is one of the strongest Fasig-Tipton has ever put together for a juvenile auction.
Auction, which is scheduled for Feb. 8 in Lexington, has 115 yearlings among its offerings.
Fasig-Tipton has made minor adjustments to the timing and format of its 2010 Kentucky July selected yearling sale, which will be held at Newtown Paddocks near Lexington on Tuesday and Wednesday, July 13 and 14.
Several sale company officials and horsemen talk about what they think will happen in the commercial Thoroughbred marketplace in 2010.
The 35,000-square-foot structure is 2 1/2 stories tall.
This year, without as much star power, the Fasig-Tipton Kentucky November select mixed sale suffered sharp downturns of 59.4% in gross revenue, 52.7% in average price, and 32% in median price Nov. 10.
While the plunging economy was pounding other mixed sales late in 2008, the Fasig-Tipton November select auction generated spectacular results. The gross revenue rose 35.1% from the previous year while the average price and median prices increased 58.8% and 38.9%, respectively.
Fasig-Tipton's Kentucky fall yearling sale isn't as fancy as the company's Saratoga and Kentucky July select auctions, but as a producer of Kentucky Derby Presented By Yum! Brand (gr. I) winners, it stands out. Big Brown, who captured the Run for the Roses in 2008, and Mine That Bird, who scored in the first leg of the Triple Crown this year, both are graduates of the October sale.
The market was livelier during the second and final session of the Fasig-Tipton Midlantic Eastern fall yearling sale Oct. 6 in Maryland.
Keeneland and Fasig-Tipton have made changes to their November sales schedules to better accommodate horsemen attending the Breeders' Cup World Championships at Santa Anita Park Nov. 6 and 7. Keeneland's November breeding stock sale will begin Tuesday, November 10, at 10 a.m. (EST) and run through Sunday, November 22. Fasig-Tipton will conduct its select mixed sale on Tuesday, November 10, starting at 5 p.m. (EST).
Fasig-Tipton reversed the negative business trends seen at Thoroughbred auctions this year at its recent Saratoga select yearling sale, where the gross revenue, average price, and median price all enjoyed significant upswings from 2008. The second and final auction on the company's upstate New York calendar is the New York-bred preferred yearling auction, which will be held Aug. 15 and 16. Each session will start at 7 p.m. (EDT).
When Dubai-based Synergy Investments purchased Fasig-Tipton last year, officials of the auction firm said that one of the company's missions would be to bring in new participants to Thoroughbred racing. The initial effort, known as the Fasig-Tipton Racing Club, will involve a broad-based program that will identify racing enthusiasts who have the potential and desire to become active owners.
Buyers and consignors were upbeat as they prepared for the Aug. 10 start of the two-night Fasig-Tipton Saratoga select yearling sale in New York.
The Fasig-Tipton July select yearling sale, held July 20-21 in Lexington, ended with significant setbacks in gross revenue, average price, and median price, but managed to lower its buy-back rate from a year ago slighty. Read what sale company officials and sale participants had to say about the market.
Blood-Horse bloodstock sales editor Deirdre Biles recaps the first day of the Fasig-Tipton Kentucky July Select Yearling sale, plus an interview with Fasig-Tipton's Boyd Browning. Presented by OCD Pellets.
The Fasig-Tipton Kentucky fall select mixed sale will be conducted during two evening sessions on Nov. 9 and 10, a Monday and a Tuesday, in Lexington. That format is a change from recent years, when the auction had been held on a Sunday night.
Fasig-Tipton and Keeneland executives are raising questions about the the Society of International Thoroughbred Auctioneers' new guidlelines for older mares and barren mares, saying the policies they had agreed to support differed on one key point from what has appeared in recent published reports.
Fasig-Tipton has cataloged 235 horses for its Saratoga select yearling auction, which will be held Aug. 10-11 in upstate New York. The number is up 20.5% from a year ago, when there were 195 yearlings listed in the book.
Fasig-Tipton has cataloged 494 horses for its Kentucky July select yearling auction. The number is down 13% from last year's total of 568.
Tackling the biggest financial crisis since the Great Depression, Fasig-Tipton's Florida select sale of 2-year-olds in training suffered some bumps and bruises, but also scored a couple of minor victories. The number of horses sold rose from a year ago while the buy-back rate declined. Meanwhile, the gross revenue fell 25.5% and the average price dropped 31.5%. The median price was down 34.8%.
Fasig-Tipton Company and the New York Racing Association (NYRA) are teaming up to develop the inaugural Fasig-Tipton Festival of Racing at Saratoga Race Course The festival will be held the second weekend of the Saratoga racing season, Aug. 8 and 9, and will precede the Fasig-Tipton Saratoga select yearling auction Aug. 10 and 11.
Bayne Welker will join Fasig-Tipton's management team as an account executive early next year. He has been the director of public sales and stallion marketing at Mill Ridge Farm near Lexington for nine years. He also is the president of the Consignors and Commercial Breeders Association.
Fasig-Tipton's renovation and expansion of its Humphrey S. Finney Pavilion in Upstate New York will cost several million dollars, according to a Nov. 14 report in the Albany Business Review. In plans filed with the city of Saratoga Springs, the auction company's officials said they would use bluestone, slate, brick, and historic wood fencing to create a more upscale facility.
Even though we're in the midst of a global financial crisis, a special horse can still bring a jaw-dropping amount. Better Than Honour, the dam of back-to-back Belmont Stakes (gr. I) winners Jazil and champion Rags to Riches, set a world Thoroughbred auction record for a broodmare or broodmare prospect Nov. 2 when her price soared to $14 million during the Fasig-Tipton November select mixed sale in Lexington.
A small catalogue of boutique offerings combined with a dash of confidence from sale company officials and consignors could be the just the right recipe for the 2008 Fasig-Tipton Kentucky November select sale. The one-day auction begins at 3 p.m. at the sale company's Newtown Paddocks near Lexington.
Fasig-Tipton has applied for a building permit to expand its sale pavilion in Saratoga Springs, N. Y., according to the company's president, Boyd Browning. Much of the work planned for the Humphrey S. Finney Pavilion, he said, is designed to bring the building "up to date" to comply with the existing codes for handicapped access.
Fasig-Tipton will conduct 14 Thoroughbred sales in 2009 in five states: Kentucky, New York, Florida, Maryland, and Texas. There will be 25 days of auctions in all. The schedule begins with the Kentucky winter mixed sale in Lexington Feb. 8-9.
Dan Pride, the new executive vice president and chief operating officer of Fasig-Tipton, is going back to his auction roots in the Thoroughbred industry.
When Dubai-based Synergy Investments purchased Fasig-Tipton earlier this year, the auction company's officials vowed that one of their goals would be to improve customer service. And Fasig-Tipton already has begun delivering on that promise.
Fasig-Tipton has restructured its senior management team, it was announced Sept. 2. The changes include the addition of one of Sheikh Mohammed's key employees in America, Dan Pride, to the auction firm's executive ranks.
Fasig-Tipton will pay the nomination and entry fees for the horses sold at its recent Saratoga select yearling auction that are pointed to any of the six graded stakes for juveniles at Saratoga in 2009. It's just one of what could be many initiatives as the company attempts to reinvent itself.
The 2008 Fasig-Tipton Kentucky July yearling sale marked the first sale in which the auction company offered buyers the opportunity to have their horses tested for exogenous anabolic steroids.
Consignors say they have plenty of prospective buyers interested in their yearlings even though the news about the Ameican economy isn't good.
The purchase of Fasig-Tipton by Dubai-based Synergy Investments was finalized May 30, according to Boyd Browning, Fasig-Tipton's executive vice president and chief operating officer.
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