With roughly a third of the overall catalog going through the ring during the first of two sessions at the Fasig-Tipton New York-Bred Yearlings Sale, the most accurate phrase to describe the marketplace is perhaps “to be continued.”
From a relatively small comparative sample size of 97 horses offered during Sunday's session, average and median sale prices kept within sight of the record pace set during last year's kickoff day of trade, but the true indicator of the marketplace's health will come during Monday's more populous session.
Sunday's session finished with 66 horses sold for revenues of $5,972,500. Because the number of offerings varied so drastically from the 136 that went through the ring during last year's first session, bulk numbers are not comparable from year-to-year at this point.
Sunday's average sale price settled at $90,492, down 13 percent from last year's average of $104,075. However, the median went unchanged at $75,000. The evening's buyback rate finished at 32 percent, compared with 41 percent after the first session of 2018.
“The strength of the New York-bred market was on display again tonight,” said Fasig-Tipton president Boyd Browning. “It was a pretty consistent marketplace, but I think we've got a lot of outstanding horses tomorrow.
“We've seen remarkable growth in the New York-bred program in recent years, and it's reaching some level of maturity,” he continued. “You can't continue to go up at that level forever, but it's a wonderful marketplace, and there's lots of opportunities for owners and breeders alike.”
Terranova Lands Constitution Colt For $340,000
Constitution has gotten off to an electric start with his first crop of juveniles, and that positive momentum carried into the auction ring on Sunday when trainer John Terranova, acting as agent, bought a colt by the WinStar Farm resident for $340,000 to top the session.
The bay colt is out of the winning Arch mare Akris Queen, whose first foal to race is a winner. Bred in New York by Newtown Anner Stud, the extended family includes European champion Hold That Tiger, Belmont Stakes winner Editor's Note, and G3 winners Indescribable and Micromanage.
“We looked at him and thought he was the best horse in the sale,” Terranova said. “Obviously, Constitution, we've seen him getting off to a hot start as a 2-year-old. He's had some versatile runners we've seen on the track already, but he fit all the parts.”
It was a return to familiar territory for Terranova, who conditioned Akris Queen for Newtown Anner Stud. She broke her maiden going a mile and a sixteenth on the turf at Suffolk Downs, then tested the Grade 3 Long Island Handicap at Aqueduct before spending the balance of her career in allowance competition in the northeast and Kentucky.
“She's got a big pedigree, and was a nice, sound filly,” the trainer said. “It's nice to see her throwing a good-looking colt like that.”
Constitution, an 8-year-old son of Tapit, is currently North America's leading freshman sire by earnings, with $537,387 from 17 starters and seven winners. He already has a pair of graded stakes winners to his credit in Amalfi Sunrise, winner of the G2 Sorrento Stakes, and By Your Side, winner of the G3 Sanford Stakes.
Hanzly Albina of consignor Blake-Albina Thoroughbred Services said the burst of sire power helped boost interest on a colt that already brought plenty to the table in terms of page and physical.
“He couldn't get in his stall,” Albina said. “People were lined up to see him, the vets were coming all day long, but he was still very cool and did his thing. He had a lot of class about him, and I think that shined through. People were coming over and over again and seeing the same horse. That's hard to do when you're walking for 10 hours a day. I'm glad he's ending up in very good hands, and we know John's going to do really well with him.”
The Fasig-Tipton New York-Bred Yearlings Sale continues Monday at noon, Eastern.
To view the full results from Sunday's session, click here.
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