TIMONIUM, MD – The Fasig-Tipton Midlantic Fall Yearlings Sale begins its two-day run at the Maryland State Fairgrounds Monday afternoon, with bidding scheduled to begin at 1 p.m., and trainers and agents were busy shopping the sales barns on a picture-perfect fall morning Sunday in Timonium. After cancellations and postponements caused by the global pandemic, the yearling sales season finally got underway a month ago with the Fasig-Tipton Selected Yearlings Showcase-an amalgamation of a trio of canceled auctions-followed by the two-week Keeneland September Yearling Sale. Both featured a highly polarized marketplace with steady action despite a host of economic uncertainties. Consignors expect those trends to continue in Timonium.
“I think it will be like the other sales, I think it’s going to be polarized like they all have been for the last five years or so,” said consignor Bill Reightler, who will offer 36 yearlings at the two-day auction. “It will be dramatic between the top horses and some of the others-the same old story as the rest of the sales.”
While the top-of-the-market early books at the Keeneland September sale featured a notably high number of buy-backs, the buy-back rate dropped through the later books and the expected drop-off in demand never seemed to materialize.
“The buy-back was almost 40% in the earlier books and then, when it started to get into the second half of Book 4, the buy-back rate went down to 17%,” Reightler said. “Now whether that’s a reflection of sellers who had to sell them no matter what and they adjusted their reserves, we don’t know. But frankly, with everything that has happened in the world today, it’s amazing that we still do have enough people buying horses.”
After a year’s absence, Paramount Sales returns with a consignment at the Midlantic sale, featuring several New York-breds rerouted from the canceled Fasig-Tipton Saratoga sale.
“We had some New York-breds and, with the canceled sales, we had to try to find slots for some of our horses and we had a couple of RNA’s,” Paramount’s Gabriel Duignan said of the Kentucky-based operation’s return to Maryland.
Duignan saw positive indicators at the September yearling sales.
“I was pleasantly surprised how the trade stayed strong through Books 4 and 5 at Keeneland,” Duignan said. “That shows there is still a market for those middle to bottom-middle type horses. I thought that was encouraging. I think all of the money isn’t spent yet, which is nice to see.”
The Midlantic sale could benefit from a competitive September marketplace which saw pinhookers shut out by end-users.
“A lot of the pinhookers still have orders to fill, so I think they are going to be here shopping pretty hard,” consignor Sarah Sharp said. “The good horses at Keeneland sold very, very well and the bottom horses didn’t appeal to the pinhookers. It felt like the end-users and the pinhookers were landing on the same horses and the pinhookers kind of got outrun. I feel like there is going to be money left over that usually isn’t left over after Keeneland. Hopefully they will come up here and spend it. ”
Sharp is consigning under her own name for the first time at the Midlantic sale, offering four weanling-to-yearling pinhooks.
“I have sold weanlings with other consignors for a long time and it’s gradually evolved to me selling my own,” Sharp said. “We felt like Maryland was a good place to start. We brought a good consignment of four fillies, correct and by sires that people like.”
Sharp said she usually aims to purchase a dozen weanlings annually to pinhook.
“Probably in the next year or so, I’ll start selling all of my own instead of selling with somebody else,” she said. “I really enjoy selling with Fasig, they’ve done really well for us, so we’ll probably be at all the Fasig sales.”
The Midlantic sale will open Monday afternoon with an offering of 154 New York-breds. Fasig-Tipton’s Showcase sale had a similar opening section of yearlings from the Empire State, but demand for the offerings was soft.
“I had a filly in that sale, and after reflection I will tell you, that was awfully tough competition,” Reightler said. “We didn’t have a Saratoga sale, we didn’t have a July sale. And all of those selected horses were in one place. And for those New York horses to go up against those, it was a really tough go. We have seen New York agents and trainers here and they will make of them what they will, as always. People are looking for the best horses, the nice athletic individual and that’s what makes a big difference.”
One New York stallion who enters the sale on a hot streak is freshman sire Laoban, who has nine yearlings catalogued Monday. The Sequel stallion was represented by Friday’s GI Darley Alcibiades S. winner Simply Ravishing.
“Laoban had a big day the other day, so that helps,” Reightler said. “Overall, everyone who is here is a good judge of horses and they will sift through and separate the wheat from the chaff. It’s a good spot for a sale. I’ve always done well by keying nice horses for the sale and it’s never let me down.”
Fasig Midlantic traditionally hosts an auction on the heels of the GI Preakness S. at nearby Pimlico. It’s usually 2-year-olds on offer, but the buzz from an exciting day of racing at Old Hilltop could still carry over for the yearlings sale.
“I think this year, the sale fits in good with the Preakness being this weekend,” Duignan said. “I have seen a few trainers this morning who wouldn’t normally be here. It’s been quite busy this morning, busier than usual I’d say. It usually doesn’t get busy until the last minute here.”
Reightler agreed the sale’s proximity to the Preakness could expand its list of shoppers.
“I can’t remember the last time we had [Preakness-winning trainer] Kenny McPeek here and he came by Friday and we showed him our whole consignment,” Reightler said. “Somebody like that we haven’t had here. So we certainly capitalized by getting somebody like that here. [Bloodstock agents] Donato Lanni and Jacob West are here. We have some significant people here and there are veterinarians here, so there will be plenty of money for the right horses.”
At last year’s Midlantic sale, 300 yearlings sold for $7,275,900 for an average of $24,253 and a median of $14,000.
Following Monday’s afternoon session, which includes hips 1-200, bidding gets underway at 10 a.m. Tuesday for hips 201 through 553.
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