Archives for August 2016

2016 Fasig-Tipton Selected Yearling Sale

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

THE WEST VIRGINIA DERBY

The $750,000 Grade II West Virginia Derby at Mountaineer Park is limited to twelve entries and the upcoming race was oversubscribed. The field this year offers spectators and bettors alike a very competitive group of horses, ranging from the morning-line favorite Cupid—owned by the famous Ireland-based Coolmore Stud and partners and trained by Bob Baffert–to the stretch-running Mo Tom. These colts are the 2016 winners of the Indiana Derby and the Ohio Derby, respectively.

The race should be interesting to watch and handicap. It is run on dirt over 1 1/8 miles and is scheduled to go off at 5:21 PM eastern time on Saturday, August 6. In fact, the entire card is a bettor’s delight with six $100,000 races, one $200,000 race, plus the West Virginia Derby.

The colts entered in the West Virginia Derby are, from the rail out: Cupid, No Distortion, Mo Tom, Pinson, Whateverybodywants, Name Changer, Van Damme, Adventist, Economic Model, Anaximandros, Forevamo, and Suddenbreakingnews.

It will be intriguing to see if Mo Tom can avoid getting blocked in traffic as has been his bad luck, including in the Kentucky Derby and two other races, and be running hard and clear in the stretch. Under Javier Castellano, the colt easily won the $500,000 Ohio Derby in June, but his rider Saturday is Joe Bravo.

West Virginia Derby Day is quite an experience. Mountaineer Park is located near the tiny Appalachian town of Chester on a curvy two-lane road. The modern hotel and casino on the property will be overflowing with people Saturday and so will the old racetrack on the backside of the property, situated on the eastern bank of the Ohio River opposite the state of Ohio.

Copyright © 2016 Horse Racing Business