Topped by a Medaglia d’Oro colt sold for $600,000, the Fasig-Tipton Midlantic 2-year-olds in training sale got off to a rocky start May 23 in Timonium, Md., with major downturns in every key statistical category when compared with a strong opening session a year ago.
F-T reported 157 horses sold for $10,715,500, down 17.9% from the first-session gross of $13,047,000 a year ago. Day 1 average fell 33.6% to $68,253 from $102,732. The 72 not sold represented an RNA rate of 31.4%, compared with a 23% rate a year ago. This year’s median was $34,000, compared with $45,000.
“I think everything held from what we have seen in other sales,” said Midlantic sales director Paget Bennett. “Quality offerings do well and others struggle.”
Noting the expanded catalog this year and that the session is being compared to a particularly strong first session last year, Bennett said F-T would like to have seen a better RNA rate but noted that many of the horses that went unsold were being purchased outside the ring.
“I think there have been a lot of buyers going back and speaking to consignors. … The consignors are here to get their horses sold,” Bennett said.
The session topper was bought by Rockbridge Bloodstock/Brett Santangelo, assisted by Mike Recio of South Point Sales, on behalf of an unidentified new client from California.
“He is a big two-turn horse who makes you dream about the classics,” Recio said. “He should get better as he gets older. He is still maturing.”
Consigned by Cary Frommer as Hip 21, the colt is out of the stakes-placed Lemon Drop Kid mare Kid Majic, dam of multiple stakes winner Miss Mischief. Bred in Kentucky by Allen Poindexter, the colt was bought back for $190,000 at the 2015 Keeneland September yearling sale.
Frommer said she was glad Poindexter allowed her to enter the colt in the May sale, the second-to-last of six major juvenile sales on this year’s calendar, rather than trying to get him in an earlier sale.
“The owner did the right thing. He is a mid-May foal and had some issues that needed maturing and he waited for this sale rather than pressuring me to go to an earlier sale,” Frommer said. “He’s a lovely horse and we will be reading about him.”
Conspicuous among the RNAs were three juveniles sired by leading sire Tapit , including Hip 12, a colt from the Giant’s Causeway mare Jackpot Joanie consigned by agent Randy Miles, who was bought back for $700,000. A fourth Tapit consigned during the session, Hip 247 consigned by agent Eddie Woods, was purchased by EQB for $400,000.
Considering the high RNA rate, it is likely many consignors will be adjusting reserves prior to the second session, even if it means absorbing some losses.
“You have to be very realistic (in setting reserves),” said Clovis Crane of Crane Thoroughbreds. “I want people to buy at a price they are comfortable with and come back next year. I took some losses today but I got my horses sold and the ones that sold well made up for it. Also, you really have to work it to get these horses sold.”
With F-T president and CEO Boyd Browning handling the bidding in the pavilion via phone, Stonestreet Stables went to $510,000 to purchase Hip 162, a filly by The Factor from the Eddie Woods consignment that was the day’s second-highest priced horse. The bidding provided drama as several times Browning had to ask the auctioneer to hold up dropping the hammer to mark the sale final as the Stonestreet representatives on the other end of the phone decided whether to continue.
Consigned by Eddie Woods, agent, the filly was produced from the winning Roar mare Ramblin Rosie, a half sister to grade I winner Buddy Gil.
The day’s third-highest price of $500,000 was paid by agent Steven Young for Lunar Eclipse, a daughter of Malibu Moon , purchased on behalf of Oussama Aboughazale’s Sumaya US Stables.
“She is a very good mechanical filly who looks like she will run early, and we’re very glad to get her,” said Young.
“She is beautiful with lots of class and had an excellent work,” Aboughazale said. “She has everything. We estimated her at $450,000 and went $50,000 more.”
During the under tack workouts, the filly breezed the co-second-fastest time of :21 3/5 for a quarter mile.
Bred in Kentucky by Smith Farm & Stable, the filly was purchased by de Meric Stables for $250,000 at the 2015 Fasig-Tipton Kentucky July yearling sale.
Produced from the stakes-winning Touch Gold mare Our Fantene, the filly is a half sister to grade III winner Javerre.
The final session begins May 24 at 10 a.m. EDT.
Reprinted from Bloodhorse.com