Fasig-Tipton October Sale Starts Monday

LEXINGTON, Ky – The Fasig-Tipton October Fall Yearlings Sale begins its four-day run Monday at Newtown Paddocks, with the first of 1,459 catalogued yearlings scheduled to go through the auction ring at 10 a.m.

The sales season has produced strong results so far in 2017 and consignors are hopeful the October auction, the last yearling stop on the calendar, continues that trend.

“We've seen positive growth throughout the market through all the sales this year,” said Darby Dan Farm's Carl McEntee. “The New York sale that Fasig-Tipton just held showed great improvements in median and average. The Fasig-Tipton Timonium sale was somewhat stagnant, but still not a bad sale. So across the board, the market looks very strong.”

The buzz word for the marketplace in recent years has been 'polarized,' with strong demand for the perceived top lots and less action under the top tier. But 2017 results have shown increased activity in the middle market.

“The middle and lower horses are starting to find homes again, which is important,” said South Point Sales Agency's Mike Recio. “I still think we'll see another cull of mares, but hopefully stud fees don't go too out of control and everyone can kind of catch up from the last couple years of being down a little bit.”

Reiley McDonald of Eaton Sales agreed the middle market was much-improved at last month's marathon Keeneland September Yearling Sale, but the consignor is taking a wait-and-see approach to the October market.

“I have limited expectations in the hopes that I'll be pleasantly surprised,” McDonald said. “There are an awful lot of horses going through the ring and pre-sale action has been pretty quiet. As always, the top 10% will sell really well. It remains to be seen what the other 90% do. I thought the middle and lower market were remarkably strong at Keeneland considering that some of those horses last year and the year before were getting no bids and they were bringing $10-20,000 this year. I don't know if that will translate over here. Keeneland has really cultivated an international market for those lower-end yearlings, which is how they get sold. So it remains to be seen whether the American demand will be able to absorb the numbers that we have here.”

The October sale, which was held over four days for the first time in 2015, was three sessions in 2016 when 1,256 yearlings were catalogued. It returns to the four-day format this year with a catalogue of 1,459.

“I always have concerns when it's four days here,” Recio admitted. “Three days has been really good. The four days hasn't been as strong. But I think most people are here to stay for the long haul and there are still a lot of good horses to sell on the fourth day.”

Of the extended format, McEntee said, “It's four days, so it's going to be a long sale for everybody, but with the right horse here, you're going to get rewarded handsomely. I'm in the business of selling horses and there are buyers here on the grounds. Overall, I think we're going to get these horses in front of people and I feel like it's going to be a good marketplace.”

The October sale is responsible for a pair of Grade I winners this year, with 2014 graduate Mor Spirit (Eskendereya) winning the GI Metropolitan H. and 2015 graduate Girvin (Tale of Ekati) winning the GI Haskell Invitational.

“This is a really good sale for racehorses,” Recio said. “A lot of consignors have started keeping horses back to showcase them maybe a little better than they would across town [at Keeneland September] when they might have been in a later book. But you have some good pedigreed horses and some good athletes. I think there is something for everyone here–from trainers to pinhookers. I think the creme will still rise to the top, that's pretty standard. But if you're a racehorse guy and you're just trying to find an athlete, I think there is a huge market for that as well.”

At the 2016 October sale, 777 yearlings grossed $25,691,500. The average was $33,065 and the median was $14,500. Colts by Curlin and Bernardini shared the auction's top price of $350,000 and were two of 17 to sell for $200,000 or more during the three-day auction.

The 2017 October sale will be held Monday through Thursday, with sessions beginning daily at 10 a.m.