Constitution Colt Kicks Off Strong New York-Bred Sale

Beginning a day later than in recent years and cataloging significantly fewer horses for the sales first night, the Fasig-Tipton New York-bred Yearlings Sale saw a drop in buy-backs and sales average during the Aug. 11 opening session, with no change in the median price for the 97 horses that went through the ring.

This year's New York-bred sale, which in past years has taken place Saturday and Sunday night, held its first session Sunday night, with 199 horses cataloged. The sale is scheduled to hold a longer session Monday beginning at 12 p.m. EST, taking advantage of the new schedule at Saratoga Race Course, in which the track is dark on both Mondays and Tuesdays.

Sixty-six horses brought a total $5,972,500, and the average of $90,492 represented a 13% drop from last year's opening session average of $104,075 when 80 hips were sold. The median price remained at $75,000.

Thirty-one horses failed to meet their reserve, a 23% drop over last year's RNA rate when 56 yearlings did not sell. Breeders may be more unwilling to let horses go with low reserves in this particular sale because of the New York-bred racing incentives, which make retaining horses to race a lucrative option.

The top seller of the session was Hip 342, a Constitution  colt out of the Arch mare Akris Queen, who is a half sister to graded stakes winner Micromanage  (by Medaglia d'Oro ) and multiple grade 3 winner Indescribable (by Pleasant Tap). Consigned by Blake-Albina Thoroughbred Services, the bay colt was bred by Newtown Anner Stud and brought a final bid of $340,000 from trainer John Terranova, who purchased him on behalf of an undisclosed client.  

"We're really happy we got him and our client was as well," said Terranova, who trained Akris Queen. "We thought he was the best horse in the sale, and we've seen Constitution get off to a hot start with 2-year-olds on the track. The mare's got a big pedigree, and it's nice to see her throwing a good-looking colt like that."

"With everything lining up with the sire getting as hot as he has been currently, this horse's physical was really, really strong," said Nick Sallusto, who works with the colt's breeder and consignor.

Both Sallusto and Fasig-Tipton president and CEO Boyd Browning were enthusiastic about the sale's later start.

"I think people had more time to get their looks in, and I feel like all of the horses are getting their best opportunity," Sallusto said. "I think it's probably an improvement. It'll take a year or two more, but certainly when you sell a horse for that kind of money you have to believe that it definitely had an impact."

"The general reaction to the new format has been positive," Browning said. "Consignors and buyers have a golden opportunity with more time to evaluate horses, to feel more comfortable and less pressure. The initial reaction is good, but we're not jumping to conclusions until we're done."

One of the early horses to top $200,000 was Hip 335, a Nyquist  colt out of the Yankee Victor mare Yanquee Reign. Though the colt was foaled in New York, it doesn't meet the criteria to be registered as a New York-bred and is thus ineligible for New York-bred racing and breeding incentives.

Purchased by Brad Grady for $220,000, the colt was bred by Kingsport Farm and consigned by Ft. Christopher's Thoroughbreds and will be pinhooked next year. He is a half brother to multiple grade 1 winner Melatonin, who earned nearly $1.4 million.  

"His status raised a white flag for the buyers, but the people bidding him on him had taken that into account," Grady said. "It's a really nice individual, and obviously he's got a really nice pedigree. If he works fast, I promise you it will be OK."  

Hip 387, a bay Distorted Humor  colt that is also not a registered New York-bred, sold for $235,000 to SGV Thoroughbreds.  

Buyers were made aware of the horses' status before bidding began.

"We wanted to err on the side of disclosure," Browning said. "They were two very nice horses with nice pedigrees, and they both sold well."

Patti Reeves signed the ticket for Hip 380 on behalf of Oracle Bloodstock, agent for Reeves Racing/R.A. Hills, Corms, going to $300,000 for a filly from the first crop of Runhappy. Consigned by Gainesway for Boyd T. Browning, Jr. and partners, the filly was bred by Billy Terrell and Browning. She is out of the Curlin  mare Charismata.

"We loved her from the start and we love the incentive program for New York-breds," Reeves said. "We had a feeling she would be in high demand. We like Runhappy a lot and I love what (his owner Jim McIngvale) did from a marketing standpoint."  

The sale continues Monday at 12:00 p.m. EST with 211 horses cataloged.