The yearling season ends with a record-breaking FT sale

The yearling sales season concluded October 24 with a record-breaking Fasig-Tipton Kentucky October Yearlings Sale. Gross and average exceeded the previous record set in 2022.

The sale grossed $58,585,500, including private sales, from 1,123 animals, averaging $52,169. The median was $20,000, the fourth-highest median in the sale’s history, according to Fasig-Tipton. An RNA rate of 17% represented the 229 horses that did not reach their reserve, which is the lowest RNA rate since 2013 when it was 16.2%.

During the four-day sale, 185 yearlings sold for $100,000 or more, up from 156 in 2022.

“There was activity literally the entire time, from the very first horse in the ring to the very last horse in the ring,” said Boyd Browning Jr., president and CEO of Fasig-Tipton. “Very, very broad participation. I am thrilled with the results of these four days.”

“Consignors continue to bring us a higher quality horse each year, as reflected in these results and statistics. I would definitely look forward to seeing some very successful graduates from this year’s sale. All in all, somewhere between enthusiastic and “ecstatic.”

The previous record, set in 2022, brought gross profit of $55,426,500, including private sales, and an average of $50,388. The median was $25,000.

“I think it’s probably better than we thought it would be at the beginning of the year,” Browning said of the yearling market. “The resilience of our market is pretty amazing. But I also think it reflects some increased confidence in certain areas and certain regions. The purse strings are very, very good in a number of key racing areas and we are seeing some serious capital commitments being made in a number of racing areas.

“The demand for horses lasted until Oct. 24 and began in July,” Browning added. “That gives you some confidence for the November market. I think there will be enormous competition for the supposedly higher quality weanlings.”

Taylor Made Sales Agency was the auction’s leading collector, selling 110 yearlings for a total of $7,904,000. Mike Ryan, agent, was the lead buyer with nine purchases totaling $1,630,000.

Two stallions topped the fourth selling session with prices reaching $500,000.

Hip 1288, a colt by Curlin sold to Jones/Everett, agent. He was bred in Kentucky by Cypress Creek Equine from the Grade 1 winning Bernardini mare AZ Warriors and shipped by Eaton Sales, representative. The colt was repurchased at the Keeneland September Yearling Sale for $575,000.

“We’ve loved him since September,” said Megan Jones, Danny Gargan’s bloodstock agent. “I thought he was a quicker looking curlin who had speed. We love the Curlin over Bernardini over Carson City, and he’s just a very reliable family and side. We just thought he was very athletic, a quick looking curlin. That’s what he did.” All right, and we’ve loved him since Keeneland; that’s why we were always on him here.

“I thought he was the strongest stallion here. He was the one we wanted and we expected to go there,” Jones said of the $500,000 price tag.

“He will go to Raul Reyes’ King’s Equine and spend the winter there and then he will be trained by Danny Gargan. He’ll probably go to Saratoga in May.”

Jones signed two additional yearlings during the sale: Hip 490, a colt by charlatan for $300,000 and a filly by Tiz the law (Hip 1326) for $240,000.

Hip 1280, a colt by Not this time sold to Case Clay for $500,000 during the last session. He’s from the Medaglia d’Oro Mare Aureum, who is a half-sister to the mother of Ready for May 1st Winner of the Oct. 4 Jessamine Stakes (G2T) and Breeders’ Cup Juvenile Fillies Turf (G1T), hopeful.

The colt was bred in Kentucky by Barronstown Stud and shipped by agent Hunter Valley Farm. Cherry Knoll Farm purchased him for $200,000 at the Keeneland November Breeding Stock Sale last year. “We really liked the stallion, the active family, the great father, we are happy to get him,” said Clay.

A pair of fillies sold for $400,000 on the final day of the sale; Hip 1276, a filly by Practical joke sold to Mike Ryan, agent. She was bred in Kentucky by Wildwood Farm and Indian Creek and shipped by agent Hunter Valley Farm. Cherry Knoll Farm purchased the filly for $190,000 at the 2023 Keeneland November Sale.

“She (Hip 1276) reminded me of Ways and Means,” said Ryan, who signed the ticket on behalf of client Seth Klarman, owner of Grade 1 winner Ways and Means. “This is a serious filly. She was one of the first three fillies in the sale; I think we’ll do two rounds. Big, stretchy filly, great depth, great strength, but a lot of quality and class about her. “That was her.” one that we really wanted.

“It’s still solid for the quality horses,” Ryan said at the market. “I felt like we bought some nice horses over the week at reasonable prices from proven sires. It’s always nice when you can lower the average a little. We’ve spent so much on previous sales, but quality sells, that’s about it, period.”

Terry Knight signed the ticket for a Charlatan filly on behalf of Legacy Ranch. She was consigned by Indian Creek, an agent, and bred by Magic Cap Stables in Kentucky.

“I just loved her presence,” said Knight, a manager and trainer at Legacy Ranch in California. “I just loved everything about her. She’s just a very, very beautiful filly that moves great. Obviously we’re taking a risk with a young stallion, but she just had all the qualities that I liked.”

“She will be shipped to California and we will decide what to do with her from there,” Knight added. “She was the one I really wanted. It’s hard to wait for three days. We missed a few days, but I was ready to go home empty-handed if I had to.”

Fasig-Tipton now has its sights set on the November Sale on November 4th in Lexington. The premier breeding event takes place on the Monday after the Breeders’ Cup World Championship Del Mar. There are 70 winners or producers cataloged with tiered stakes, 24 of them at Level 1.

“My expectations for this year’s November sale are extremely high,” said Browning. “And they are high because of the quality of the horses that are in the catalog, and they are high because we set the bar for ourselves very, very high. It is as extensive a catalog as we have ever had in terms of the special features of the fillies and the mares.

“We have a catalog that, once again, we’re really proud of,” he said. “We’ll be watching until Saturday evening, November 2nd, waiting for some updates.”