F-T October Sale Sees Solid Increases on Day 1

The Oct. 24 first day of the Fasig-Tipton Kentucky October Yearlings Sale saw a steady flow of trade throughout the day, with an Into Mischief   filly taking top honors after realizing $425,000 from agent Ben McElroy for Wesley Ward.

"Today was an excellent opening session for the sale, posting statistical increases over last year's first session," Fasig-Tipton's president and CEO, Boyd Browning Jr., said. "It's always harder with a sale with four sessions; there are some variations and ups and downs, and last year, the first session was the lowest price of the four sessions. Overall, a very good start with vibrant trade and diversity amongst the buyers. There was activity from buyers worldwide, with the domestic buyers still dominating the upper end of the market."

Fasig-Tipton reports 253 of the 349 horses on offer Monday were sold for gross receipts of $12,342,100, up 12% year-on-year. Suitable for an average price of $48,783, posting an increase of 23.1% and a median of $27,000, a marked increase of 58.8% over last year. Ninety-six yearlings failed to meet their reserve, representing an RNA rate of 27.5%.

"It seems a little soft starting out, I thought it might be a little better, but our better horses are later in the sale," Taylor Made Sales Agency's Frank Taylor commented. "It seems like all the regular faces are here, it could be the quality of the horses having to do with it, but it seems a little lighter, however, we are all coming out of a solid sale, and everyone has high expectations."

Last year during Day 1, 274 yearlings changed hands of the 341 through the ring for final figures of $11,016,900. Suitable for an average price of $40,208 and a median of $17,000. Sixty-seven horses failed to meet their reserve, representing an RNA rate of 19.6%.

Towards the close of Day 1, Ben McElroy landed a final bid at $425,000 for an Into Mischief filly consigned as Hip 336 by Mill Ridge Sales. Alpha Delta Stables bred the filly in Kentucky out of the fast Lonhro  mare Velvet Mood . The precocious mare captured all of her contested races at two, including the My Dear Stakes at Woodbine. 

"She's by a great sire, whether colts or fillies and out of a precocious stakes-winning mare who won as a 2-year-old," McElroy said. "She fit our model for getting them out early with Wesley. She looks like she could be turf, dirt, or synthetic; a very nice filly. She was the pick of the fillies for me today, I was happy to get her at that price, and fingers crossed from here on out."

Mill Ridge Sales' Price Bell echoed a similar feeling and will look forward to watching her on the oval with trainer Wesley Ward.

"She was a lovely filly, and we had the privilege of foaling her on the farm for her breeder," Bell said. "She has been nice from the beginning, she needed a little bit more time, and we were excited about the opportunity to bring her to this sale. An excellent judge purchased her in Ben McElroy, and he has an incredible record of buying outstanding fillies."

The yearling market worldwide has shown its strength all year, with buyers getting pushed to later sales looking to fill orders.

"At Keeneland September, it was tough for me to buy what I wanted, and in Europe, I think we got some nice stuff and picked up some nice ones here today," McElroy said. "I'm pleased with what we got; this sale always gets better day by day. I think by Thursday, these will look like good value."

McElroy acting as agent for various clients, was the leading purchaser Monday, spending gross receipts of $812,000 on four yearlings.

Two-year-old pinhoookers were seen active on Day 1, picking up early-looking yearlings for next year's market. King's Equine's Raul Reyes purchased five individuals for receipts of $215,000, at an average price of $43,000.

"I'm not buying big pedigrees because by now they are usually already sold; I'm looking for athletic individuals," Reyes said. "You have to find the right ones, I'm hoping to buy 10 to 12 more this week, and it was hard for us to buy at Keeneland. I'm trying to fill the barn with quality individuals in this strong market."

Leonard Green's DJ Stable purchased three yearlings Monday for gross receipts of $660,000 to be the second leading buyer on Day 1.

"It was a solid session, lots of activity," Browning commented. The parking lot was jam-packed—lots of faces on the sales grounds, trainers, pin hookers, and end users. There was substantial representation from overseas, particularly South America. It was also nice to see some of our friends from Korea back in the marketplace."

Foreign buyer, Seoul Resource Owners Association, purchased seven yearlings Monday, spending $204,000, at an average of $29,142 a head.

"I am interested in the dirt pedigrees; they work well in Korea. Every year I come to this sale, even these days with the current exchange rate being up. It's a tough time for us, but our owners want American-bred horses," a representative of S.R.O.A. said. "As soon as the COVID-19 restrictions were lifted, I was back. I prefer the October Sale, the September Sale is too long, and I prefer working with Fasig-Tipton. I am hoping to purchase between 12 and 15 horses this week. They will ship back to Korea and go to various trainers."

Taylor Made Sales Agency concluded Day 1 selling 15 of their 26 horses on offer for gross receipts of $1,289,000 as reported by Fasig-Tipton to be the Day 1 leading consignor.

The sale continues tomorrow, Oct. 25, with Hips 399 - 796 scheduled to head through the ring beginning at 10:00 a.m. ET. As of Monday evening, 195 horses had been withdrawn from the sale.