Business Surges at Fasig-Tipton Midlantic Sale

Buyers continued to demonstrate a willingness to spend on top-quality juvenile prospects during a robust final session of the Fasig-Tipton Midlantic 2-Year-Olds in Training Sale on May 21 at the Maryland State Fairgrounds in Timonium.

A total of 188 horses sold for a gross of $18,949,500 during the auction’s second day, good for an average price of $100,795. The median price came in at $50,000, and a total of 35 horses did not sell in the session.

All told over the auction’s two days of trading, 343 head sold for gross receipts of $32,751,500, compared to 375 head sold for $34,795,500 in 2023. This year’s average price of $95,485 established a record. The figure rose from last year’s average of $92,788 and eclipsed the 2022 record of $95,391. This year’s median price of $50,000 is identical to last year’s median price and also tied the sale record. A total of 71 horses failed to meet their reserves this year, compared to 62 a year ago.

Sale results reflect a deep and varied international buying bench over the two days of trade and featured buyers from Dubai, Saudi Arabia, Japan, and Korea. The international buyers were active across a broad range of the market.

“Very encouraging activity,” said Boyd Browning, president and chief executive officer of Fasig-Tipton. “The sale received a significant boost and bolster from the international participation, particularly from the Gulf region. We all ought to be knocking on wood hoping that next year the American exported horses have a lot of success racing in the Middle East because it will continue to drive more and more interest in our marketplace.

“I think everyone in the United States would say an expanding market that we’ve all identified is the Middle East. We see the continued movement toward dirt racing, and our whole industry for the most part is principally focused on dirt racing from a breeding standpoint, so it’s a great opportunity for market growth. I still believe that buyers are more comfortable buying off a dirt racetrack because the vast majority of horses in the U.S. run on dirt.

“We’re very appreciative of the consignors bringing us some quality stock and I hope that it bodes well for success on the racetrack for buyers and success for future sales for our consignors and for us.”

Topping the final session and the sale was Hip 401, a filly by Bolt d’Oro   who sold for $1,250,000 to Winchell Thoroughbreds. The transaction marked the ninth consecutive year that the sale featured a seven-figure sale topper. Consigned by Wavertree Stables (Ciaran Dunne), agent, the filly is produced from the winning Arch mare Werewolf . Bred in Kentucky by Springhouse Farm, the precocious filly was acquired by Havertz Bloodstock for $335,000 out of the Paramount Sales consignment at the 2023 Keeneland September Sale. She breezed a bullet eighth in :10 during the final under tack session on Friday.

“She stood out on the data,” said Greg Pachman, a member of the Winchell Thoroughbreds team. “We do a lot of work with Equine Analysis, Dr. David Lambert, Matthew Weinmann, and Andreu Solis. They did a great job finding her. She was a standout on the data. Steve, obviously, liked her. We don’t do anything without Steve being involved. It’s not that often that we land on horses that happily together, so Ron (Winchell) stretched to buy her.”

BH+ video on the sale topper

Trainer Steve Asmussen (left) signs the ticket for the sale topping Bolt d’Oro filly with Greg Pachman, a member of buyer Winchell Thoroughbreds’ team

As for the market at the Midlantic Sale, Dunne said, “We’ve had a good sale. It’s like anything else, if you have a bad sale, you see the bad end of the market. If you’ve had a good sale, you see the top end. The horses that performed well and vetted good sold well. And we’ve sold a couple on the lower end, but they were horses we figured it was time to move on (from). They don’t bring a lot of money, but the fact that there is someone there to take them is a big deal.”

Hip 276, a filly by Bernardini out of the Medaglia d’Oro   mare Rubies Are Red , topped the first session of the sale Monday, selling to Pedro Lanz, agent for Saudi Arabia-based KAS Stables, for $650,000. Consigned by Joanna and Clovis Crane’s Crane Thoroughbred Services, the filly, whose dam is a half-sister to Tapit  , will remain in the United States, and is being sent to trainer Bill Mott in Saratoga.

The next 2-year-olds in training sale is the OBS June 2-Year-Olds in Training and Horses of Racing Age Sale, slated for June 12-14. Under tack previews for the June sale are scheduled for June 4-9.