Fasig-Tipton Midlantic Sale Generates Strong Interest

The barn area at the Maryland State Fairgrounds in Timonium was bustling with activity June 28 as buyers went about the process of inspecting horses that will be offered during the June 29-30 Fasig-Tipton Midlantic 2-Year-Olds in Training Sale.

Originally scheduled for mid-May in conjunction with the Preakness Stakes (G1) at nearby Pimlico Race Course, the sale was postponed due to the effects of the COVID-19 pandemic. The Preakness was also rescheduled for Oct. 5.

According to Fasig-Tipton, the Midlantic auction has produced the most grade 1 winners of any U.S. 2-year-olds in training sale from January 2019 through May 1 of this year. The 2019 auction produced record receipts of $29.37 million for the 326 horses sold, a record average of $90,104, and an all-time second-highest median price of $43,000.

Last year's sale topper, the filly Gamine bought by agent Donato Lanni on behalf of Michael Lund Petersen, lived up to her sale-record $1.8 million price tag when she recently won the Longines Acorn Stakes (G1) in stakes-record time by 18 3/4 lengths.

The sale will be held with safety protocols in place to protect attendees, with only 50% capacity allowed in the sale pavilion, temperature checks and health questioning for those entering the sale premises, and cloth face coverings required.

Fasig-Tipton has introduced online bidding and expanded its phone bidding capabilities to accommodate buyers who are not attending the sale.

The sales company and consignors have also enhanced the video presentation of the sale horses and the amount of information available electronically.

The sale was preceded by a three-day under tack show in which horses entered in the sale displayed their athleticism on the Timonium dirt track.

"We've been very pleased with the amount of activity on the sale grounds, with a broad representation of owners and trainers from around the U.S.," Fasig-Tipton president Boyd Browning Jr. said. "The location here is very accessible for a lot of folks to be able to drive here. I think the quality of horses on display during the under tack show provided some encouragement to buyers as they watched videos of the sale horses. Certainly, the success of sale graduates over the last five years has made it a must-attend event for buyers."

Browning said the presale interest shown on the sale grounds illustrates the resiliency of the industry participants. 

"The resiliency and passion people have for Thoroughbred racing was on display this weekend and, hopefully, translates to a lot of buying activity Monday and Tuesday," Browning said. "Resumption of racing in most parts of the United States has provided people more confidence and reestablished a need for horses."

While there seemed to be an upbeat mood among those showing and looking at horses leading up to the sale over several hot, sticky days in the Baltimore area, there is still an awareness that the auction is being conducted in uncertain times.

"If you're not apprehensive this year, you're not looking at reality," said consignor Joe Pickerrell of Pick View. "We're just trying to salvage what we have from this year so we can do it again next year. Overall, good horses still stand out, and with the others it's a little tricky to find a spot for them, but that's the market and what we're living with."

Pickerrell said the unsettled 2-year-old market, with sales canceled or moved and overall figures down from a year ago, could lead to more value for buyers at the upcoming yearling sales.

"A big issue this year was that a lot of the big horses were overpaid for as yearlings, and that left the margins pretty small," he said. "It should correct the yearling market quite a bit. We try to buy yearlings for under $100,000 as a rule. A couple exceeded that this year, but we try to buy in a spot where we can make some money."

Buyer Pete Bradley said there does not appear to be as many horses on the grounds as in the past that would be sold within the $50,000-$100,000 price range and that those deemed to have the best potential for future success will stand out.

"The nice horses stand out, and like at any sale, they will be hard to buy," Bradley said. "It will be interesting to see what that mid-range market is like."

Consignor David Scanlon said the Ocala Breeders' Sales Spring Sale of 2-Year-Olds in Training conducted this month could have paved the way for greater participation at Midlantic. The OBS sale was the first since the lockdowns and restrictions related to COVID-19 began. 

"I feel good about the market here," said Scanlon of Scanlon Training & Sales. "Now that we've had one sale, I think people will see it's a buyer's market and will be more likely to come shop and jump in. We had a good sale at OBS. We sold a lot of horses steady for profit, and we moved a lot of horses. We have a lot of horses in this sale. We double downed this year and brought almost all my New York-breds here."

The Midlantic sale begins at 11 a.m. ET.