The 2016 Fasig-Tipton Saratoga Selected Yearlings Sale was held on August 8 and 9. The Fasig-Tipton auction at Saratoga Springs, NY has a storied history. Man o’ War sold there and American Pharoah went through the auction ring but did not bring the reserve price set by his owner (a blessing in disguise for the owner).
The 2016 auction sold 156 yearlings for a total of $45,570,000 million, for an average of $292,115 and a median of $237,500. In 2015, 145 yearlings were sold for a total of $46,755,000, with an average of $322,448 and a median of $250,000. Hence the 2016 average declined by 9.4% and the median was down by 5%.
Nine yearlings sold by Tapit grossed $6,425,000 (average=$713,889 and median = $650,000). Thus Tapit accounted for 5.8% of all yearlings sold and for 14.1% of the aggregate revenue. Six yearlings sired by Medaglia D’Oro sold for $3,655,000 (average = $609,167 and median = $487,5000). These two stallions combined contributed 9.6% of all of the yearlings sold and 22% of the total auction revenue.
Subtract Tapit and Medaglia D’Oro from the auction and the average yearling price for the sale was $251,702. It is not unusual for one or two leading sires to dominate a sale in this fashion.
An intriguing buyer was the China Horse Club. This group purchased six yearlings for $3,100,000 (average = $516,667 and media $575,000). The China Horse Club is headquartered in Shanghai and has an interesting background, including “hosting the only internationally endorsed Thoroughbred racing carnival in Mainland China” and winning more than 130 races (11 Grade I races) in Australia, France, Great Britain, Ireland, Italy, Singapore, and the United States.
The China Horse Club says it offers its members “bespoke experiences,” entry into a “unique world,” and “exclusive investment opportunities across a range of industries including real estate, commercial business, and elite Thoroughbred stallions and mares.”
Whatever happened to communism in China?
Copyright © 2016 Horse Racing Business