YEARLING SALES: FROM CANADA TO FLORIDA

The yearling market is the largest segment by far in the commercial space, which is why breeders approach the yearling sales season with equal parts excitement and apprehension. The financial outcome for the year for many breeders is at stake.

The commercial yearling market has been on an upward trend since 2011, when it started recovering from the Great Recession, and last year was no exception. Total receipts for yearlings sold in 2018 surpassed the $500 million mark for the first time since 2007.

In 2018, 9,752 yearlings sold for a total of $565 million, which accounted for 52.5 percent of all public auction receipts last year for all horses. The average yearling price of $78,725 in 2018 was up 14.2 percent over 2017.

This year’s yearling sales season got under way in July, with the Fasig-Tipton Kentucky yearling sale, and that venue was down 8.6 percent in average compared with 2017, so breeders are hoping that result is an anomaly in a long-term upward trend in prices.

The Fasig-Tipton Saratoga select sale (Aug. 5-6) and Fasig-Tipton preferred New York-bred sale (Aug. 11-12) are up next (see previews for both sales in this insert), and they are near the beginning of a long sales season that will see some 8,000-plus more yearlings go through auction rings across North America in the next three months.

Here’s a look at upcoming sales in North America where foals from the 2018 crop will be offered.

Washington summer yearling sale: Aug. 20

washingtonthoroughbred.com In 2018, 73 yearlings sold for a total of $984,500, an average of $13,486 and a median of $7,500

The Washington Thoroughbred Breeders Association sale, held at the Morris J. Alhadeff Sales Pavilion at Emerald Downs, in Auburn, Wash., provides state breeders an annual showcase for their yearlings. Last year, the sale cataloged only yearlings, but this year it is a yearling and mixed sale, though yearling offerings dominate the catalog. The 2019 catalog features 104 yearlings, one 2-yearold, and 16 broodmares.

The 2019 yearling portion includes 69 Washington-breds, 22 California-breds, 10 Kentucky-breds, 1 New York-bred, 1 Ohiobred, and 1 Oregon-bred. Coast Guard, who stands at El Dorado Farms in Washington, has the most yearlings in the sale, with 15, followed by fellow El Dorado sire Abraaj, with 14. Oregon stalwart Harbor the Gold is the sire of 13 yearlings, all but one a Washington-bred.

The sale will include progeny by three stallions whose first foals are yearlings: California-based Dads Caps, Kentuckybased Tourist, and Washington stallion Noosito.

Last year’s sale was topped by a $85,000 yearling colt by Harbor the Gold out of 2015 Washington broodmare of the year Bahati, by Horse Chestnut, purchased by agent Will Brewer from the consignment of Bar C Racing Stables, which stands Harbor the Gold.

CTBA Northern California yearling sale: Aug. 13

www.ctba.com In 2018, 102 yearlings sold for a total of $499,600, an average of $4,898 and a median of $2,200

The California Thoroughbred Breeders Association’s Northern California sale is a yearling and mixed sale, though the catalog is predominantly composed of yearlings. This year’s sale, to be held at the Alameda County Fairgrounds in Pleasanton, Calif., features 157 yearlings from 184 total horses cataloged.

California-based Champ Pegasus, who stands for $2,500 at Barton Thoroughbreds, is represented by 21 yearlings, while fellow state sire Govenor Charlie, who stands at Lovacres for $3,000, is the sire of 11 yearlings. First-year sire Tamarando, who stands at Harris Farms for $2,500, is represented by six yearlings.

The 2018 sale was topped by a colt by Ministers Wild Cat out of Bold Roberta, by Bold Badgett, purchased for $45,000 by Michael Dante from the consignment of Harris Farms, agent.

Texas summer yearling and mixed sale: Aug. 26

www.ttasales.com In 2018, 44 yearlings sold for a total of $414,300, an average of $9,416 and a median of $7,750

Held in conjunction with the Texas Thoroughbred Association’s mixed sale at Lone Star Park in Grand Prairie, Texas, the summer sale features Texas-bred yearlings in majority, though other statebreds are represented.

In 2018, the yearling portion of the sale accounted for 77 percent of the horses passing through the sales ring. The sale topper was a Louisiana-bred yearling filly by Songandaprayer out of Those Lion Eyes, by Lion Heart, purchased by Susan Naylor for $30,000 from the consignment of Clear Creek Stable, agent.

This year’s sale features 76 yearlings in a total catalog of 91 hips, and firstyear sires represented by yearlings include Texas-based Bradester (4), Oklahoma-based Home of the Brave (2), and Kentucky-based Hit It a Bomb (1). Leading Texas-based sire Too Much Bling has nine yearlings in the sale.

CTHS Ontario premier yearling sale: Aug. 29

www.cthsont.com In 2018, 152 yearlings sold for a total of $2,182,252, an average of $14,357 and a median of $8,328 (all dollar amounts converted to U.S. currency).

The CTHS Ontario sale has been the premier sale in Canada for decades, the preferred spot for commercial Canadian breeders to sell their yearlings. The 2018 sale was up 4.1 percent in average price compared with 2017, though gross receipts were down 22.4 percent as the sale recorded 51 fewer yearlings sold than the year before. The 90 yearlings that failed to meet their reserve in 2018 accounted for 37.2 percent of all horses going through the sales ring.

Last year’s sale was topped by an Old Forester filly out of Dicey Girl, by Yonaguska, purchased by Michael Lay for $96,838 from the consignment of Willow Ridge Farm Thoroughbreds, agent.

The 2019 sale, to be held at the Woodbine Sales Pavilion in Ontario, Canada, has 273 yearlings cataloged, two fewer than last year, with sires represented by their first crop of yearlings including Canadian-based stallions Reload (25 yearlings), Ami’s Holiday (8), Hyper (7), and Dynamic Sky (6). Adena Springs North stallion Silent Name, Canada’s 2018 leading sire, is represented by 12 yearlings in the catalog.

Equine Sales consignor select yearling sale: Sept. 5

equinesalescompany.com In 2018, 148 yearlings sold for a total of $1,937,700, an average of $13,093 and a median of $6,000

Equine Sales, with operations in Opelousas, La., holds three Thoroughbred sales annually. Its September sale is for accredited Louisiana-breds, and gives state breeders a place to sell their best offerings.

In 2018, the consignor select yearling sale was up 11.8 percent in average over the 2017 sale, as fewer horses sold (148 compared with 194), though total receipts were up 17.3 percent.

The sale topper in 2018 was a Louisiana-bred colt by Kentucky-based Palace out of Sheer Speed, by Kafwain. The colt was purchased for $105,000 by J. Stevens Bloodstock from the consignment of 4M Ranch, agent.

Keeneland September yearling

sale: Sept. 9-11, Sept. 13-22 www.keeneland.com In 2018, 2,916 yearlings sold for a total of $377,140,400, an average of $129,335 and a median of $50,000

The Keeneland September sale in Lexington, Ky., is the largest sale in the world, and last year’s sale featured 4,538 yearlings cataloged in 13 sessions. How important is this yearling sale to breeders? In 2018, two-thirds of all yearlings sold in North America sold at Keeneland in September. And the total receipts of $377 million was 35 percent of the money spent on all horses of all ages in North America in 2018.

This year’s sale will feature three sessions for Book 1, Sept. 9-11, followed by a dark day on Sept. 12. The sale resumes on Sept. 13 with Book 2 and goes through Sept. 22.

Last year, Keeneland changed its format to catalog four select sessions of approximately 1,000 yearlings in Book 1, and the results were rewarding for consignors. The four sessions had 596 yearlings sell for an average of $363,780, with the four sessions grossing $216.8 million.

Overall, last year’s sale was up 7.3 percent in average over 2017, though the median fell 12.3 percent, from $57,000. The 2018 sale was topped by a War Front colt out of Streaming, by Smart Strike, purchased for $2.4 million by M.V. Magnier, from the consignment of Hill ‘n’ Dale Sales Agency, agent. The colt, now named St. James’s Square, is out Grade 1-winning Streaming, who is out of a halfsister to champion and classic winner Rags to Riches and to classic winner Jazil. He has not yet started.

Fasig-Tipton California fall yearling sale: Sept. 26 www.fasigtipton.com

Barretts ended its decadeslong sales operations in California in October of last year, and after it was announced that

Barretts was discontinuing operations, Kentucky-based FasigTipton announced it would move back into the state. Fasig-Tipton had last sold horses in California in 1984, when it had a partnership with the California Thoroughbred Breeders Association.

The inaugural Fasig-Tipton California fall yearling sale was initially to be held at Santa Anita, but in early July the sales company announced it would hold the auction at Fairplex, which had owned Barretts in recent years as part of the Los Angeles Country Fair Association. Fairplex is located in Pomona, Calif.

Last year, Barretts held two yearling sales, a select session at Del Mar in August and a fall sale in October at Fairplex that included mares and horses of all ages. The August sale had 42 yearlings sell for an average of $62,667, and the fall sale had 119 yearlings sell for an average of $10,378. At that last Barretts sale, 255 of the 276 horses cataloged were yearlings.

The 2018 August select sale was topped by a $250,000 colt by perennial California leading sire Unusual Heat.

Fasig-Tipton Midlantic fall

yearling sale: Sept. 30-Oct. 1 www.fasigtipton.com In 2018, 338 yearlings sold for a total of $7,318,700, an average of $21,653 and a median of $15,000

The Fasig-Tipton Midlantic yearling sale, held in Timonium, Md., is one of the largest regional sales in the country, and in 2018 its catalog comprised 500 horses. The large supply resulted in a 14 percent decline in average from 2017, though the median rose 7 percent.

As a regional sale, the Midlantic fall sale attracts entries from breeders in Maryland, New York, Pennsylvania, Virginia, and West Virginia, as well as other states. The sale has been a stalwart for Maryland breeders for decades, and in 2018 the venue included 178 Maryland-breds (35.6 percent of

the hips). Last year’s sale also included 111 New York-breds and 105 Kentucky-breds.

The 2018 sale topper was a $210,000 filly by Kentucky-based Into Mischief out of Spin the Bottle, by Hard Spun.

Ocala Breeders’ Sales select and open yearling sale: Oct. 8-10

www.obssales.com In 2018, 434 yearlings sold for a total of $9,532,750, an average of $21,965 and a median of $12,000

The Ocala Breeders’ Sale Co. made a major change to its sales calendar in 2017 when it eliminated its decades-old August yearling sale and moved its sales of yearlings to October. While it was a risky move, it proved to be a good one. The last August sale in 2016 averaged $16,712 for 517 yearlings sold. In 2017, the three-day sale averaged $20,001 for 406 yearlings sold. In 2018, the OBS October yearling sale average increased by 9.8 percent to $21,965.

In 2018, the one-day select session averaged $41,000, while the two open sessions averaged $13,090. The 2018 sale topper was a $340,000 Cairo Prince colt out of Minutia, by Concord Point, purchased by John Oxley from the consignment of Stuart Morris, agent.

The OBS yearling sale is the major marketplace for rankand-file Florida breeders. Last year, 48.8 percent of the 777 yearlings cataloged were Florida-breds (379), with Kentuckybreds second-most represented with 166, and New York-breds third with 86.

Florida-based sires whose first foals are yearlings include Ride On Curlin and Jess’s Dream.

Fasig-Tipton Kentucky October yearling sale:

Oct. 21-24 www.fasigtipton.com In 2018, 963 yearlings sold for a total of $34,260,100 an average of $35,576 and a median of $15,000

The Fasig-Tipton Kentucky October yearling sale decades ago used to be more like a garage sale, with low-priced offerings and horses with questionable pedigrees and conformation, but that was long ago. Today, it is a sale that has been robust, with some commercial breeders now choosing the sale for their yearlings because they want more time for their horses to mature, plus they are confident the buyers will be there for them. And they have been. Where the October sale averaged just $3,306 30 years ago and $13,512 10 years ago, it now has an average price that puts it in the top six yearling sales in North America.

In 2018, the Lexington, Ky., sale had 1,500 cataloged, with 963 sold and 283 failing to reach their reserve. The sale had a buyback rate of 22.7 percent. Last year’s sale was topped by a $500,000 Street Sense colt out of Shimmer, by Pulpit, bought by Donato Lanni, agent, from the consignment of Eaton Sales, agent.

Equine Sales open yearling and mixed sale:

Oct. 27 equinesalescompany.com

Equine Sales of Louisiana’s October sale in Opelousas offers horses of all ages, and in 2018 yearlings accounted for a bit more than 40 percent of all horses passing through the sales ring. The 34 yearlings that sold averaged $6,162, while 19 of the horses cataloged, or 35.8 percent, failed to reach their reserve. The yearlings accounted for 64 percent of the total receipts at the sale.

The 2018 sale was topped by two $50,000 yearlings. One was a filly by Kentucky-based Proud Citizen out of May Gator, by Green Alligator, purchased by Charles Castille from the consignment of Brown’s Thoroughbred Farm. The other was a filly by Kentucky-based Fast Anna out of Pleasantly Blessed, by Pleasant Tap, purchased by Virginia Lazenby from Select Sales, agent for Coteau Grove Farms.