Rational Trade on Opening Day of F-T Winter Mixed Sale

The Fasig-Tipton Kentucky Winter Mixed Sale took off Feb. 6 under pleasing sunshine skies; the milder temperatures were a welcomed opening at the Newtown Paddocks. At the close of selling Monday, the Munnings   mare, Munny Spunt , drove bidding wild, with owner Judy Pryor signaling a final bid at $340,000 to add the mare to her Nebraska operation.

"It was a solid session today. The quality and competition of the catalog can always change from year to year. I think we're living in a stable world and a marketplace that's fairly consistent to what we saw in the marketplace in November last year," Fasig-Tipton president and CEO Boyd Browning Jr. said.

The 9-year-old mare (Hip 293) sold in foal to Triple Crown winner Justify   on a March cover from the Hunter Valley Farm consignment. A winner in the 2017 Torrey Pines Stakes (G3), she has three foals, one of which is Bread Winner , a 3-year-old runner by Candy Ride  . She has a yearling colt by Authentic   and a 2-year-old filly by Mendelssohn   named Midsummer March that sold last year during Fasig-Tipton's The Saratoga Sale to Kenny McPeek, agent for Walking L Thoroughbreds, for $425,000.

"She's perfectly smooth and correct for breeding purposes," Pryor said. "She has a nice walk, and she's in foal to Justify, and I wanted to go home with the famous horse."

Pryor Ranch is home to five-time grade 1 winning stallion Court Vision   and grade 2 winner Giant Expectations . Pryor's hope with her new stallions, acquired in January 2021, is to help reinvigorate the Nebraska racing scene, which saw casino gaming legalized at six of its licensed horse tracks in November 2021.

When asked if topping the sale was in the plans for Monday, Pryor exclaimed, "I have no idea what I was expecting. I was going to buy that damn horse!"

Pryor hopes to see racing trophies in her future from the resulting Justify foal, which could be her first as an owner to give her Kentucky Derby dreams. Her previous successes in the horse world were with champion Quarter Horses, but she has connections to Thoroughbred racing through her aunt Marilyn and uncle Merle Heldt, trainers on the Oaklawn Park and Prairie Meadows circuit, and their son Derron Heldt, the current vice president of racing at Prairie Meadows.

Justify was the Day 1 leading covering sire by gross at $340,000.

Fergus Galvin of Hunter Valley Farm added: "We knew she was probably one of the day's highlights and is a graded stakes winner by Munnings, and being in foal to the right stallion helped. It exceeded our expectations."

Bill and Corinne Heiligbrodt finished Day 1 as the leading buyer with a total of $580,000 spent on three purchases, the early leading double of Bubala  (Hip 61) and her Audible   colt (Hip 62) and Fly On Angel  (Hip 159), for $130,000. Bluewater Sales consigned the Palace Malice   mare in foal to Yaupon  .

The first session of selling recorded 182 of the 228 horses through the ring sold for gross receipts of $5,524,300 (down 16.3% year-on-year), at an average price of $30,353 (down 8.9%) and a median of $10,500 (down 27.6%). Forty-seven horses failed to meet their reserve, representing an RNA rate of 20.5%.

"It maybe wasn't as robust as people would like, but that's a sign and a trend that we've seen for many years," Browning said. "I think, all in all, we've seen a continuation of the marketplace we saw throughout much of 2022. It's healthy, rational, and not exuberant. Still, you better understand what you're offering and how the market will perceive that horse and set your reserves and try to understand valuation."

During last year's opening session, 198 horses changed hands of the 236 to go under the hammer for a gross of $6,598,800. Suitable for an average price of $33,327 and a median of $14,500. Thirty-eight horses failed to attain their reserves, representing an RNA rate of 16.1%.

Six horses sold for $200,000 or more to five distinct entities. The top 10 horses were sold to eight separate buyers.

"I thought there was fair trade with lots of activity on the short yearlings. There was lots of vetting and activity on those perceived to be higher quality," Browning said. "The mares in foal and broodmare prospects that you turned the corner of the page down when you went through the catalog sold well, and there are some horses that the marketplace is extremely critical of."

Matt Bowling of Bowling Bloodstock and co-owner of Vinery Sales said he saw a day of solid trading after he had purchased Hits Pricey Legacy , (Hip 202) for $230,000, the fourth-highest price on Monday.

"It's pretty good. The people are here. I'm also a consignor, and we're getting plenty of views. If you are bringing the right stuff over, they're paying you fair value for it, but if you've got some dings, need the pedigree, or a bad produce record, it's definitely a lonely place. But the right horses are bringing the right money."

"I felt like we put realistic reserves and found it spotty at times, but that's how it goes at this sale," Denali Stud's vice president, Conrad Bandoroff, said. "The buying bench can be selective, and it's the beginning of the year, there is not a real sense of emergency, and buyers focus on the perceived quality offerings. It can be tougher if you have one that doesn't meet those criteria."

Day 1 leading consignor Stuart Morris saw seven horses change hands for gross receipts of $627,500, at an average of $89,643.

Browning noted: "I think we've got probably a little bit stronger catalog tomorrow as opposed to today; it's just the way it falls with the supplemental entries that come in."

The Feb. 7 second day of selling begins at 10 a.m. ET with Hips 301-465 as part of the main catalog and Hips 466-594 from the supplemental catalog. As of Monday evening, 49 horses had been withdrawn from Tuesday's session.