The demand for horses that fall below the market-determined threshold of perceived quality have struggled to gain traction during the breeding stock season in progress, and that continued to prove true on Monday at the Fasig-Tipton Kentucky Winter Mixed Sale, where returns were down significantly across the board.
A total of 180 horses changed hands for revenues of $3,369,200 during Monday's opening session of the two-day sale, down 28 percent from last year's kickoff session when 146 horses brought $4,677,200.
Monday's average sale price of $18,718 was down 42 percent, while the median posted a 55 percent decline to $8,000. The buyback rate finished at 29 percent compared with last year's day-one figure of 29 percent.
“Clearly, if you looked at the catalog and if you're on the grounds analyzing, tomorrow's a much stronger day in terms of of offerings,” said Fasig-Tipton president Boyd Browning. “I thought today was about as expected. For the pages that you turned to in the catalog and said, 'There's probably going to be good interest in this one,' there was good interest in that one. For the horses that you were scratching your head and said, 'There might be a struggle,' it wasn't easy.”
“There were plenty of folks on the grounds looking at and bidding on horses,” Browning continued. “There are some horses that we offered that have limited commercial value, and that was reflected in the results for those horses. That's the unfortunate reality of the business, that there's not as much demand on the lower end as any of us would hope for, but there's still tremendous demand on the perceived quality offerings.”
Andre Lynch, acting as agent, purchased Monday's session-topper, Over Emphasize, a Grade 2-placed racing or broodmare prospect by Overanalyze who hammered for $150,000.
The 4-year-old bay filly, offered as Hip 184, won once in eight starts for owners Mel and Jean Annuzzi and trainer Michael McCarthy, but her two most recent starts were both graded-placed efforts. She finished third in the Grade 3 Honeymoon Stakes last June at Santa Anita, and followed up with another third in the G2 San Clemente Stakes at Del Mar in July.
“I bought her for myself at the moment,” Lynch said. “We ran against her with Maxim Rate a couple of times.”
Lynch suggested that Triple Crown winner Justify, a resident of Ashford Stud, could be a potential partner for Over Emphasize's first mating.
Over Emphasize is out of the placed Holy Bull mare Star in the Corner, whose runners also include stakes winner Allanah. She is from the family of Peruvian champion Zeide Isaac.
St George Sales consigned the filly, as agent.
The dark bay or brown colt is out of the placed Posse mare She Be Keene, who is herself a half-sister to champion She Be Wild. The extended family includes Canadian champion Portcullis, Grade 1 winner Carson Hollow, and Grade 2 winner Part the Seas.
“I just thought he was a well-balanced, Saratoga-type individual, and that's probably the gameplan, to take him up to Saratoga and see how we do,” Graves said. “We don't have to wait too long.”
Graves, who has seen several top-dollar successes pinhooking weanlings and short yearlings into the proper yearling sales market of the summer and fall, said the changes in a horse's development are significant when buying a horse during the beginning of the mixed sale season in November versus at the end of the season in February.
“It's three months down the line, so in terms of the time we normally keep these horses, he's 30 percent closer to the sale than the ones we buy in November,” he said.
The colt was bred in Kentucky by Nancy Mazzoni, who also bred and raced the dam and bought second dam Trappings for $50,000 at the 2003 Keeneland November Breeding Stock Sale. The Mazzoni family is a longtime client of consignor Bluewater Sales, which handled the colt, as agent.
To view the day's full results, click here.
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