By Ray Paulick
All the economic indicators took a predictable dip at Fasig-Tipton’s sale of 2-year-olds in training at Calder on Tuesday, with gross receipts falling 25.5% from 2008 and the average and median prices dropping by 31.5% and 34.8%, respectively. The declines are in line with falling market prices at other Thoroughbred auctions in North America since the financial crisis hit last September, midway through the bellwether Keeneland September yearling sale.

Fasig-Tipton reported selling 111 horses for $26,151,000, an average price of $235,595 and median of $150,000, compared with 2008 figures of 102 sold for $35,100,000, an average of $344,119 and median of $230,000. Buy-backs were down from 40.4% in 2008 to 35.4% this year, when 61 of the 172 through the ring failed to reach their reserve price. Another 91 juveniles were listed on the results sheet as "out" or withdrawn at this year’s sale.

There was broad-based participation from a cross-section of American and international buyers, including a contingent from Japan and Europe. Absent from the list of buyers, however,  was Demi O’Byrne, who represents the Coolmore operation of John Magnier and has annually been one of the leading buyers at American yearling and 2-year-old auctions.

John Ferguson, agent for Dubai’s Sheikh Mohammed, bought the only three seven-figure juveniles in the sale. He purchased a Medaglia d’Oro colt (Hip 94) consigned by Ciaran Dunne’s Wavertree Stables for $1.6 million after earlier bidding $1.1 million for an Unbridled’s Song colt (Hip 75) from the consignment of Leprechaun Racing, agent. Ferguson also bid $1 million for another son of Unbridled’s Song (Hip 271), from the consingment of Scanlon Training Center, agent. late 

The sale was operated for the first time under the new ownership of the Dubai-based Synergy Investments, which purchased Fasig-Tipton last May. Ferguson negotiated the deal on behalf of Synergy, whose principal is an associate of Sheikh Mohammed.

Clilck here for results from Fasig-Tipton.

Copyright © 2009, The Paulick Report

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Tags: 2-year-olds in training sale, calder, ciaran dunne, fasig-tipton, fasig-tipton calder, john ferguson, leprechaun racing, medaglia d'oro, Paulick Report, Ray Paulick, sheikh mohammed, Thoroughbred Auctions, unbridled's song, wavertree stables

This entry was posted on Tuesday, March 3rd, 2009 at 2:00 pm and is filed under Thoroughbred Auctions, fasig-tipton. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.