Tag: Mike Ryan

‘Solid Sale Getting Better Every Year:’ Fasig-Tipton October Sale Concludes

LEXINGTON, KY – The Fasig-Tipton October Yearlings Sale concluded Thursday with a solid renewal which very nearly kept pace with its record-setting 2022 version even in the midst of a softening yearling market and a backdrop of uncertainty in the global economy and geo-political landscape.

“It was a very successful 2023 Fasig-Tipton October sale,” Fasig-Tipton President Boyd Browning, Jr. said after the last horse went through the ring Thursday evening. “The results were very similar to last year and very similar to the 2021 results, which is pretty remarkable when you consider everything that is happening in the world that we live in, from the economy to some of the challenges our industry has faced. To have 1,600 horses on offer the last four days and to be standing in the back walking ring with five horses to go and it is full of people and there is enthusiasm and activity, it shows the resiliency of our industry.”

Through four sessions, 1,064 yearlings grossed $51,120,000. The average of $48,045 dipped 4.6% from last year's record figure and the median of $24,000 was down 4.0% from another 2022 record.

The buy-back rate was 21.5%. It was 18.7% a year ago.

“The good news for all consignors is that, if you have a late-maturing horse, or a horse that has a little bit of an issue, you can bring that horse here. Can this sale support a very good horse? The answer is absolutely, positively, yes. I think this sale has established itself on the calendar as a very legit sale, one that you have to attend and participate in, whether you are a buyer or a seller. We look forward to continued growth and continued great graduates coming from this sale.”

Ocala horseman Karl Keegan made the highest bid of Thursday's final session of the auction, going to $330,000 to acquire a colt by Bolt d'Oro from the Knockgriffin Farm consignment.

Denali Stud consigned the second and third highest prices of the session, with Mike Ryan going to $310,000 for a son of Into Mischief and Jacob West going to $275,000 on behalf of Mike Repole for a daughter of Curlin.

Hip 1441, the Curlin filly bought for Mike Repole | Fasig-Tipton

The auction was a case of feast or famine, according to Denali's Conrad Bandoroff.

“When you lead a horse up here, you are in one of two positions,” Bandoroff said. “You are either coming up for a horse sale or you are coming up for a funeral. I think this market is highlighting the polarization. If you have one that is a quality individual who vets, there is a good market for it. If you have a horse that doesn't vet or doesn't have the commercial physical, it's going to be a difficult market and you've got to be realistic about it. But that could also be the definition of a fair market as well. We are having a good sale. We've been fortunate that we've had some good horses here and the good horses are selling well.”

Ryan, who purchased 10 yearlings for $2,195,000 during the auction, found plenty of competition for the yearlings he followed up to the ring.

“We were runner-up quite a bit, too,” Ryan said. “We were getting hammered. But we do feel like we got some quality at good value. It is the last stop and there are a lot of horses here. You have to look at a lot of horses to find the ones you want. But there are some nice pedigrees here. And obviously there is money here for the good ones. It's a solid sale and it's getting better every year.”

Keegan Stretches for Bolt d'Oro Colt

Looking to play at the upper echelon of the pinhooking game, Karl Keegan of Lucan Bloodstock stretched to $310,000 to acquire a colt by Bolt d'Oro (hip 1575) late in Thursday's final session of the Fasig-Tipton October sale.

Karl Keegan | Fasig-Tipton

“We are going to pinhook the horse,” Keegan said after signing the ticket on the bay colt. “It seems like all of these sales–especially the 2-year-old sales–are going to the upper end of the market, so we are trying to buy really, really good physicals by good stallions and hopefully it works out back in the springtime.”

The colt is out of Whirl (Curlin), a full-sister to graded winner Pacific Wind and a half to multiple graded winner Strike a Deal (Smart Strike). Consigned by Jim FitzGerald's Knockgriffin Farm, he was purchased for $145,000 at last year's Keeneland November sale and RNA'd for $240,000 at the Fasig-Tipton Saratoga sale in August.

“He was an outstanding physical,” Keegan said of the yearling. “He was at Saratoga and it looked like he went through a bad patch there. They took him back and gave him some time. And he really blossomed and showed himself well here. He's an exciting prospect for Lucan Bloodstock.”

Keegan admitted he had gone past his initial budget for the youngster.

“We were at $150,000 to $175,000, but my guy stretched,” Keegan said. “This was the only horse I wanted to walk away from the sale with. And my guy stood in and supported me.”

Lucan Bloodstock also purchased a colt by Tom's d'Etat (hip 1332) for $80,000 and a colt by Outwork (hip 1573) for $15,000.

Keegan said there was plenty of competition for the pinhooking prospects he was shopping for.

“It was very strong for the horses I was on,” Keegan said. “I came up here trying to buy these physicals to be in the upper echelon of the market at the 2-year-old sales. Those horses were really hard to buy.”

Ryan Strikes for Into Mischief Colt

Bloodstock agent Mike Ryan, busy all week at the Fasig-Tipton October sale, made his highest-priced purchase of the four-day auction Thursday, going to $320,000 to acquire a colt by Into Mischief (hip 1482).

Mike Ryan | Fasig-Tipton

“He's a beautifully bred horse,” Ryan said of the yearling. “He's going to be a two-turn horse. He has plenty of size and stretch and scope for an Into Mischief. He's got a serious pedigree. If he can perform on the racetrack, he's got a lot of appeal as a stallion.”

The bay colt, bred by My Meadowview and consigned by Denali Stud, is out of multiple graded stakes winner Tin Type Gal (Tapit), who is a daughter of Grade I winner Miss Shop (Deputy Minister).

“They are averaging $750,000 for the yearlings,” Ryan said of Into Mischief's knockout season at the sales this fall. “The median is $525,000. So this [final price of $320,000] is less than half the average. Of course it's the end of the year, but this horse has a lot of upside if he can perform.”

Curlin Filly to Repole

Mike Repole, who along with his partners will send champion Nest (Curlin) through the sales ring at Fasig-Tipton in a week and a half, restocked with another filly by Curlin Thursday at Newtown Paddocks when bloodstock agent Jacob West made a final bid of $275,000 to acquire hip 1441. The gray filly was consigned by Denali Stud on behalf of Stonestreet Thoroughbred Holdings.

Jacob West | Fasig-Tipton

“Mike has had a little bit of success with Curlin through the years,” West said after signing the ticket on the yearling. “It's the old saying, if it's not broke, don't fix it. She was just a beautiful filly and has the pedigree, through and through.”

The yearling is out of Tapping Pearl (Tapit), a daughter of Cat Dancer (Storm Cat) and a half-sister to Grade I winner Drill (Lawyer Ron).

West, on behalf of Repole, as well as other clients, has purchased six yearlings this week in Lexington.

“The market is incredibly harsh right now,” West said. “If you don't have the pedigree and the physical and the vetting, you get crucified. I feel bad for the breeders because I know how much work it takes to get them up to this ring. That's the unfortunate side of our business right now. It's incredibly polarizing. I don't see it changing for the foreseeable future.”

The polarized market has allowed him to find some bargains this week, West agreed.

“The first day of the sale, we bought a Quality Road filly for $3,000 and we bought a Gun Runner colt for $42,000,” he said. “They were just horses that the market didn't perceive to be what they wanted and they fell through the cracks. We had done our homework and due diligence and picked them up.

“The Quality Road filly had some significant vet issues, but $3,000 for a Quality Road filly, you're going to take a chance. The Gun Runner colt was just a backward horse. He didn't have the physical that everyone was looking for here. But for all of Mike's purposes, he will be patient on a horse like that, let him grow up and fill out. If he goes on and wins a big race, everybody will say, 'How the hell did they buy him for $42,000?' If you are willing to sacrifice on one of those things, you can find some bargains here.”

West concluded, “I'd say there are going to be some really good runners that come out of this sale. There are every year. It doesn't always have to be the sale topper that you land on.”

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Thoroughbred Owner Conference Series ‘Buying at Public Auction’ Now Online

The seventh panel of the OwnerView Virtual Thoroughbred Owner Conference held Tuesday, Aug. 15, is now online, the organization said in a release early Thursday.

The session featured bloodstock agents Erin Birkenhauer, Marette Farrell and Mike Ryan, plus auctioneer Tom Biederman discussing horse selection and the bidding process at Thoroughbred auctions. The panel was moderated by OwnerView's project manager, Gary Falter.

Topics included yearling sales, buying 2-year-olds, buying horses in training, the importance of vet records and conformation.

“For people getting into the business for the first time, a great approach is to buy some fillies because you have some exit strategy, you've got resale/residual value,” Ryan said.

There are four more Thoroughbred Owner Conference virtual panels scheduled for 2023, with the next session, 'Claiming', to be held Sept. 12 at 2 p.m. (ET).

There is no fees for the series, but registration is required. Click here for more information.

 

 

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Tattersalls Grad Wins at First Asking in Saratoga

Dismissed at 12-1 by the bettors, Ozara (Ire) (Lope de Vega {Ire}) pulled off the upset over heavily favored Weigh the Risks (Mendelssohn) from the Chad Brown barn to win Sunday's opener at Saratoga, a $136,000 maiden special weight race run at a mile-and-a-sixteenth on the turf.

The win came less than a year after bloodstock agent Mike Ryan purchased the filly out of the 2022 Tattersalls October Yearling Sale. The purchase price was 350,000 guineas.

“This was very much a team effort,” winning trainer Christophe Clement said. “Mike Ryan bought the filly for Mr. (Everett) Dobson of Cheyenne Stable. This wasn't an upset to us because we thought she was training well. We always liked her.”

 

The winning team also included jockey Tyler Gaffalione, whose perfect rail-skimming ride probably made the difference. By the time the field passed the wire for the first time, Gaffalione had guided his mount from the nine post to the rail. He started his bid midway down the backstretch and was fourth with a half-mile to go. Turning for home, a path opened up in the two path and Ozara pushed her way through to the lead to win by a neck over the fast-closing Weigh the Risks, who had to swing eight wide at the top of the stretch. Weigh the Risks was the even money favorite.

“I'm delighted,” Clement said. “It worked out perfectly. She had a great trip. Thank you, Tyler. He worked her last time and she had a very good work with him. It's nice when a jockey can get to know them before they run first time out. We have a great jockeys colony here in New York and Tyler makes it even better here in the summer.”

1st-Saratoga, $105,000, Msw, 8-6, 2yo, f, 1 1/16mT, 1:45.48, gd, neck.
OZARA (IRE) (f, 2, Lope de Vega {Ire}–Cercle d'Or {Ire}, by Acclamation {GB}) drifted up from her 6-1 morning line to be 12-1 as the gates sprung in her Sunday debut. Able to clear down to the rail from her outside draw, she chased pacesetter Sands of War (War Front) up the backstretch but was eager to make a move and did so as the field moved into the far turn. Up the inside past the quarter pole, Ozara got the racing room she needed and pounced between horses to strike the front, powering home and just holding off the late challenge of even-money favorite Weight the Risks (Mendelssohn) to win by a neck. Brought to the United States after selling in Book 1 of the Tattersalls October Yearling sale, Ozara is out of a half-sister to MG1SW and G1 Qatar Prix de l'Arc de Triomphe hero Golden Horn (Cape Cross {Ire}). Her dam foaled a yearling filly by Frankel (GB) last year but was not reported bred for 2023. Sales Price: 350,000gns Ylg '22 TATOCT. Lifetime Record: 1-1-0-0, $57,750. Click for the Equibase.com chart or VIDEO, sponsored by FanDuel TV.
O-Cheyenne Stable LLC; B-Fleche D'Or Partnership (Ire); T-Christophe Clement.

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Hall of Fame Stakes Part of Big Weekend at the Spa for Bob Edwards

For a man who has been in the racing business for just eight years, Bob Edwards has already enjoyed all the highs one could imagine in the sport; he has won Breeders' Cup races, campaigned champions, and–turning his attention to breeding–he has sold a million-dollar yearling at the boutique Fasig-Tipton Saratoga Selected Yearlings Sale. All of those successes will coalesce in the next five days in upstate New York.

At the racetrack Friday, three graduates of Edwards's Fifth Avenue Bloodstock breeding operation will be go postward in the GII National Museum of Racing and Hall of Fame S. Across the street five days later, he will send three yearlings through the ring at the Saratoga sale.

In the Hall of Fame, Bat Flip, a son of Edwards's champion Good Magic, looks for his third straight win in his first start since last November. The colt was sold for $350,000 at the 2021 Fasig-Tipton Saratoga sale.

General Jim (Into Mischief), an $850,000 Keeneland September yearling and already winner of the GII Pat Day Mile, returns to the turf following a well-beaten effort in the GI Woody Stephens S.

Of the trio, homebred Carl Spackler (Ire) (Lope de Vega {Ire}) is the only one of the group who will be carrying the colors of Edwards's e Five Racing Thoroughbreds.

“It's pretty impressive, isn't it,” Edwards said of the trio. “It's one thing when you are first starting out and people want to know why somebody who races is selling horses. Obviously, we are selling good horses because we have three in a stakes race. But the breeding pays bills.”

The three graded starters reflect the solid foundation Edwards created along with bloodstock advisor Mike Ryan when he first started buying horses in 2015.

“Mike Ryan picked me out really nice pedigrees,” Edwards said. “So if they didn't run, the idea was always to breed them. That was always Plan B. If they weren't fast horses, they would be great moms. As I had fillies come off the track and turn into mares and then broodmares, we want to keep those bloodlines.”

Edwards points to Krazy Kathy (Harlan's Holiday), the dam of Bat Flip, as a perfect example. The mare, who RNA'd for $345,000 at the 2015 Keeneland September sale, raced 10 times in the e Five colors and earned just over $40,000.

“Krazy Kathy is a horse that I ran up here in Saratoga,” Edwards said. “She didn't do well. She was a serviceable horse, but she's turned out to be a great mare. She has unbelievable babies on the ground. I think I am going to keep one this year out of her and then the one we just had, we will figure out what we will do with that one when it comes around the corner.”

Carl Spackler, a dominant maiden winner at Gulfstream in February, will be looking to rebound from a tough-luck trip as the favorite in the May 6 GII American Turf S. last time out. The chestnut is out of Zindaya (More Than Ready), a mare who holds a special spot in Edwards's heart.

“Zindaya was my first winner, my first win was the Intercontinental at Belmont,” Edwards said. “I sold the first two babies out of her and Sheikh Mohammed bought them both. I switched back between Frankel (GB) and Lopa de Vega. I brought her home this year and sent her to Uncle Mo to change things up.”

Asked how he would like to see the one-mile race develop, Edwards said, “I hope it stays dry. And I hope Tyler Gaffalione comes out of the gate and controls the pace and gets us home with a win with Bat Flip and General Jim right behind him.”

Win, lose or draw, Edwards will move on to the sales arena next week when he offers three horses through the Indian Creek consignment at the Saratoga sale.

“I went at looked at them yesterday and I think these are the three nicest horses I've ever bred,” Edwards said.

Leading off the trio is hip 128, a filly by Good Magic out of Pinch of Grace (GB) (Pivotal).

“She is by Good Magic out of a Pivotal mare, which is kind of an odd cross,” Edwards said of the yearling. “But the Pivotal mare had a lot of leg and it added a lot of leg to this Good Magic and it's one of the nicest Good Magics I've bred.”

Hip 154 is a colt by Into Mischief out of graded stakes winner Seek and Destroy (Verrazano), a half-sister to multiple graded winner Tammy the Torpedo (More Than Ready).

“Seek and Destroy was probably the best Verrazano and she's out of that same family of Search and Seizure (War Chant), which was Tammy Torpedo,” Edwards said. “It's a really strong family. I had a War Front out of her [at the Saratoga sale] last year. I own half of him with Sheikh Fahad with Joseph O'Brien. He's another gorgeous horse.”

Rounding out the group is hip 230, a daughter of Speightstown out of the unraced Antilla (Bernardini). The yearling is from the family of Grade I winner Wickedly Perfect.

“Hip 230 may be my favorite,” Edwards admitted. “I know the Good Magic is everybody's favorite so far, but she's a Speightstown filly out of a Bernardini mare and she's an absolutely stunning horse. She checks all of the boxes for me as a buyer. She wasn't a great race mare, but with the Bernardini bloodlines–they make good moms that was part of the whole package.”

The decision on what to potentially keep and what to sell starts early on with mating discussions, according to Edwards.

“We sit down around the table and talk and figure out how we want to breed the horse,” Edwards said. “What's sexy for us. What is commercial. And we kind of go from there. I will breed to race, knowing I am going to keep the horse. And then I will breed commercial, hoping I sell the horses. Sometimes, it doesn't work out either way. The commercial horse is too nice to sell or something is up on the radiograph and I keep it. Sometimes the breed-to-race is the same way. It's really nice, it's a perfect horse, it might be an opportunity to take some money off the table.”

The Fifth Avenue Bloodstock broodmare band currently has about 25 members, including multiple Grade I winner New Money Honey (Medaglia d'Oro), who has an Into Mischief yearling colt and a weanling colt by War Front.

“I have kept five yearlings that I bred for myself, one of them is an Into Mischief out of New Money Honey,” Edwards said. “It's a really nice horse, a really nice cross and that horse checks all of the boxes, with an A+ airway, super correct body, really nice-looking conformation. He could have brought a lot of money here, but that's what I am keeping. You kind of pick and choose. I am not a big colt purchaser. We buy a lot more fillies than we do colts. We partner up on colts, so to have a homebred colt is something special for us.”

Fifth Avenue Bloodstock had its first seven-figure sale when a daughter of Veracity sold for $1 million at the 2018 Saratoga sale. The operation sold another daughter out of the mare for $900,000 at Saratoga the following year.

Despite the sales success, it's obvious that Edwards's true passion is in racing.

“The money is awesome and it's a lot of fun to sell a horse like that,” he said. “But then I've got to wait a year or a year and a half win for somebody else to win with him–which is equally exciting. But this weekend, my wife's family is all in town. We have two runners this weekend. We are doing a memorial race for my wife's aunt on Saturday, which is really special for us as a family. So, it's a big weekend for us. I would love to see Carl Spackler take it home.”

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