By Jessica Martini
SARATOGA SPRINGS, NY – Just five days removed from a record-smashing select sale, bidding returns to the Humphrey S. Finney Pavilion Sunday evening for the first of two sessions of the Fasig-Tipton New York-Bred Yearlings Sale in Saratoga Springs. The session, originally slated to start at 7 p.m., will now begin at 7:30 p.m. in deference to a pair of rescheduled graded races which will extend the race day at the track across the avenue.
After a day and a half of rain in Saratoga, the sun was shining as potential buyers–led by a large contingent of pinhookers– crowded the sales grounds Saturday morning.
“Yesterday, luckily, it didn't completely wash out,” said Kerry Cauthen in front of his Four Star Sales consignment. “It was rainy, but we really had a pretty good gap. Traffic was off a little bit yesterday, but that's catching up today. I think it's very typical traffic, but with an added number of groups that you wouldn't necessarily see stay over for this sale who have definitely made their way around.”
The Fasig-Tipton Saratoga Sale, held last Monday and Tuesday, set records for gross, average and median, and consignors are hoping that momentum carries into the New York-bred sale.
“The first sale was unbelievable, really,” Cauthen said. “And I expect that to roll on through at some level. I think it just creates confidence. This will be much more a test of the real market as opposed to the rare air, but I think that when you see it tick up like that, it definitely has an affect.”
Asked if a competitive select market might lead people to shop the New York-bred sale more aggressively, Summerfield Sales' Francis Vanlangendonck said, “Definitely. There are people who did not spend any money at the last sale.”
With a larger-than-typical catalogue of 365 head last year, the New York-bred Yearling Sale produced its highest-ever gross when 217 head sold for $20,806,000. The sale average was $95,880 and the median was $75,000.
There are 300 yearlings in this year's catalogue, with the first 100 scheduled to go through the ring Sunday evening.
“It's been the same way for the last three or four years,” Vanlangendonck said of expectations for the market over the two days. “The really good ones that vet are going to sell really well. This sale, the middle market does well, because there are so many people who want to buy these horses and they have good purses. The bottom end is going to get killed. But there are a lot of people here and if you know how to appraise one, you shouldn't have to buy one back.”
The New York Racing Association's announcement last fall that the 2024 New York-bred foal crop would be running for the same purses as opening company beginning in 2026, added extra buzz to the an already buoyant state-bred program.
“If you look at the purses, even now, they are really good,” Vanlangendonck said. “And that's just going to get better. You see a lot of the same people looking now that were at the first sale. That's because some of the horses here are going to outrun the horses that sold last week. They are looking for them.”
Bill Johnson's Turning Point Bloodstock, headquartered some 15 miles outside of Saratoga, offered its first select yearlings last week. The operation sold a half-brother to GI Preakness Stakes winner Rombauer (Twirling Candy) for $550,000.
“We were very excited to sell our first through the ring. it's nice to own Ferraris,” Johnson said with a smile.
Looking ahead to the New York-bred sale, he added, “I have high expectations for this sale. There was a ton of energy at the first sale and I think it's going to carry over to this sale. I think the New York market is going to show everybody how strong it is.”
The introduction of purse parity between open and state-bred races in the coming years should only increase the demand for New York-breds, Johnson agreed.
“The fact that we are going to run for the same purses that the open company horses are, why not? We have a smaller crop here in New York, but we are going to be as competitive and now we are going to have the money to follow it up,” he said.
Following the Sunday evening session, the New York-Bred Yearling Sale will continue Monday at noon.
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