| Kasept |
08-09-2017 05:04 AM |
DRF: Fasig-Tipton Saratoga: Bustling sale finishes with record median
By Joe Nevills
It’s never a bad time to have an elite yearling at a major auction, but the returns from this year’s Fasig-Tipton Saratoga selected yearling sale proved it’s getting better for the cream of the crop, illustrated by a record median and the second-highest gross and average in the boutique auction’s history.
The two-day auction saw 156 horses sold for revenues of $52,995,000 according to figures reported by the sale company shortly after the close of business, up 16 percent from last year’s Saratoga sale when 156 horses sold for $45,570,000.
The average sale price rose 16 percent to $339,712 from $292,115, while the median rose 26 percent to a record $300,000 from $237,500. The buyback rate finished at 20 percent compared with 23 percent in 2016.
“We had high expectations coming into the sale and we exceeded those expectations,” Fasig-Tipton president Boyd Browning said. “There was remarkable depth in the buying pool between $250,000 and $750,000, just enormous competition. Horses were exceeding their reserves by two, three, four times in many instances, and you’d see it happen consecutively, which I think demonstrates a healthy marketplace.”
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