Fasig-Tipton Midlantic Sale Fills Niche

Breed locally. Sell locally, Buy locally.

Those actions drive the regional Thoroughbred auctions such as the Fasig-Tipton Midlantic yearling sale that will be held Oct. 4.

Held at the Maryland State Fairgrounds in Timonium, the auction draws offerings from a regional base of breeders in states that have lucrative incentive programs. Maryland, where 43% of the 360 horses cataloged were foaled, has revitalized its breeders’ program. In addition, The Stronach Group, which operates the state's racetracks, is investing some $20 million for capital improvements.

Other states in the Mid-Atlantic and Northeast, with strong representations in the catalog are Pennsylvania (16%), New York (11%), Virginia, West Virginia, New Jersey, and Delaware. Not unlike all North American yearling sales, in the Midlantic sale there are a large proportion of Kentucky-breds, with 20% of those entered, and five bred in Florida.

"The Midlantic sale has traditionally been supported in large part by breeders on the East Coast—Maryland, Virginia, and New York, with a sprinkling of horses from Kentucky and Florida," said Fasig-Tipton president and chief executive officer Boyd Browning. "Obviously, there's some strong activity in that part of the country, with Maryland having an improved (racing) program and continued interest in New York."

"We have representatives from states around the country eligible for their lucrative racing programs," said Midlantic sales director Paget Bennett. "We are particularly pleased to see strong growth in the number and quality of Maryland-breds in the catalog, as well."

In addition to its regional lure, the Midlantic sale should be attractive to buyers because of racetrack success by recent graduates who have proven themselves at the highest level of competition all over the country. Gracing the sale catalog cover are grade I winners Stellar Wind, Cathryn Sophia, and Bradester.

Stellar Wind, bought by Barbara Houk for $86,000 at Midlantic, was voted champion 3-year-old filly last year and Oct. 1 upset three-time champion Beholder a second time when she won the Zenyatta Stakes (gr. I) at Santa Anita Park.  

Longines Kentucky Oaks (gr. I) winner Cathryn Sophia was a $30,000 purchase by Chuck Zacney’s Cash Is King Stable and Bradester, winner of the Stephen Foster Handicap (gr. I), was a successful pinhook for Cary Frommer, who bought the son of Lion Heart for $20,000 and sold him as a 2-year-old for $195,000.

"The three sale graduates on this year's cover—Stellar Wind, Cathryn Sophia, and Bradester—are among the leaders of their respective divisions and representative of the type of quality produced by this sale each year," Bennett said.

Because buyers have been selective in their buying activity this year, the yearling auction season is coming to an end with many still in need of stock. That fact could bode well for Midlantic and Fasig-Tipton's October sale Oct. 24-26 in Lexington, said Carl McEntee, sales and bloodstock director at Darby Dan Farm near Lexington.

"There are a lot of people who haven't finished buying," McEntee said. "I think there are going to be plenty of buyers at Timonium and in Kentucky. It doesn't mean the sale is going to be up or that all the horses are going to get sold. I think it means attendance at this sale is going to be at a high level.

"People are still looking to buy and if you have a horse that jumps through all the hoops and is what the market is looking for, you will be well-rewarded."

McEntee said Darby Dan, which has the only Uncle Mo   yearling in the sale, sells at Midlantic because the farm has a solid client base from the area.

"We sell for a lot of people in that area and they target this sale," he said. "We ended up with a good-sized group of horses and overall I think the physicals will do well there."

Last year's sale was topped by a Malibu Moon   filly purchased by Ellen Charles for $200,000. The gross fell 13% for the 274 yearlings sold for a total $5,228,800 and the average price fell 13% to $19,083.

The sale begins at 10 a.m. EDT Tuesday.