The Fasig-Tipton Midlantic sale of 2-year-olds in training gets underway May 23 at the Maryland State Fairgrounds in Timonium and as has been the trend in all public equine auctions, there is expected to be stiff competition for the upper echelon lots and an uncertain market for the middle price ranges.
Unlike the three juvenile sales held already this year in Florida and one in California, the F-T sale draws from the East Coast and Midlantic regions where horses bred in those states will be in greater demand than they would in other markets, offering the potential for greater turnover at all price levels.
The sale has been expanded from the 325 offered last year. Following the withdrawal of 98 horses originally cataloged, some 500 juveniles are expected to go through the ring during the two-day auction that begins at 10 a.m. EDT each day.
Led by a Smart Strike filly that sold for $1.25 million, the 2015 auction soared over the previous year. There were 255 horses sold for an aggregate $22,659,000, producing an $88,859 average and a $45,000 median. In 2014, 329 horses sold for $19,601,000, an average of $59,578 and a $31,000 median.
The timing of the sale two days after the Xpressbet.com Preakness Stakes (gr. I) gives the sale a potential positive vibe stemming from the second leg of the Triple Crown.
All signs point toward a strong sale, including the strength of the year’s first four major 2-year-old sales; the recent success of Midlantic graduates such as grade I winners Materiality, Eden’s Moon, Bayern , and Dortmund; and a catalog of 2-year-olds by leading sires such as Tapit , Uncle Mo , and Curlin , the sire of Preakness winner Exaggerator.
“The strength of this sale in recent years has once again generated a larger catalog with increased quality across the board,” said Midlantic sales director Paget Bennett. “Based on the strength of the catalog and the breezes over a dirt track that were safe, we are looking for a good sale.”
“We are now in a long sequence of strong 2-year-olds in training sales,” said Fasig-Tipton director of marketing Terence Collier. “I don’t think we are expecting anything different. This sale has broad-based participation from all parts of the country due to the results of its graduates.”
Consignor Niall Brennan said he expects a continuation of the trend evidenced in all other recent sales, not just juvenile auctions, in which a small group of buyers vie for the top-end horses and with less demand below the top.
“Although this is the fifth sale, there are always people still looking for horses at this time of the year,” Brennan said. “The top will be as good as it has been in other sales. You have the same people all looking for those top horses.
“Because of its location, there are more horses bred in New York, Pennsylvania, and Maryland, so it is much more a regional market. It means that it is also a middle market, so this will be a good test of the middle,” he said.
(This article is from Bloodhorse.com & is written by Ron Mitchell)