F-T Midlantic juvenile sale shows encouraging numbers

In a topsy-turvy sale season filled with uncertainty, the Fasig-Tipton Midlantic 2-yearolds in training sale couldn’t match last year’s record renewal but still turned in a strong performance. Led by a $1.1 million colt by young classic sire Uncle Mo, the sale finished with an improved buyback rate and average and median figures that compared favorably to other recent editions of the sale.

The Midlantic auction, conducted at the Maryland State Fairgrounds in Timonium, has grown in numbers and popularity in recent years. Even with that growing reputation, the outlook was uncertain this season as the global coronavirus pandemic upended the juvenile sale season in North America, pushing the Midlantic auction from its traditional May dates following the nearby Preakness Stakes to late June.

The Thoroughbred market often shows restraint in times of economic uncertainty, and with the stock market plummeting and unemployment rates skyrocketing, that trend came to fruition in the juvenile auctions able to be held in North America so far this year. The Ocala Breeders’ Sales Co.’s March auction, held as the pandemic began to expand in the United States, posted steep declines. The Florida company essentially restarted the season with its postponed spring sale earlier this month, which also posted declines, although it was chasing a record renewal in 2019.

Although the market trends led to caution, there also was hope for the Midlantic sale, as a standout among the fewer opportunities to buy juveniles at public auction this season. Some juveniles intended for other boutique auctions, such as the canceled Fasig-Tipton Gulfstream sale, were rerouted to the Midlantic sale. A strong catalog delivered, with the seven-figure Uncle Mo colt, an $875,000 Candy Ride colt, and a $650,000 Not This Time colt leading the way, showing that there was still demand for quality stock.

At the close of Tuesday’s second and final session, FasigTipton reported that a total of 303 horses had changed hands for gross receipts of $23,572,500. At the 2019 renewal of the auction, 326 horses sold for a record gross of $29,374,000.

The sale’s average price finished at $77,797, dropping 14 percent from last year’s record of $90,104. While leaving the record to stand, the sale compared favorably with other recent editions, as the 2018 renewal of Fasig-Tipton Midlantic averaged $74,680 and in 2017 the figure was $76,476.

The median was $40,000, a decline of 7 percent from $43,000 in 2019. That figure was the second highest in sale history, finishing behind only the $45,000 figure from 2015. The median finished at $38,000 in 2018 and at $35,000 the year prior.

The cumulative buyback rate was a very strong 19 percent in a selective market, improved from 23 percent last year.

The 2019 renewal of the Fasig-Tipton Midlantic auction was led by future Grade 1 winner Gamine, who sold for a sale-record $1.8 million to Michael Lund Petersen, with Donato Lanni acting as agent. Petersen and Lanni struck again with this year’s saletopper by Uncle Mo, selecting him from the consignment of

Pike Racing, as agent, during Monday’s opening session. The Virginia-bred colt worked a furlong in 10 seconds flat during last week’s under-tack preview show at Timonium, making him one of a dozen juveniles tied for the fastest work at that distance.

The colt is out of the winning Mineshaft mare Miss Ocean City, dam of the Grade 2-winning juvenile Azar. Miss Ocean City is a half-sister to Grade 3 winner Woodlander and to stakes winner Admiral Alex, as well as to Miner’s Secret, dam of Grade 2 winner Coal Front and stakes winner Conquest Titan. This is the extended family of Belmont Stakes winner Go and Go, as well as Grade/Group 1 winners Casual Conquest, Emerging Talent, Media Puzzle, Refuse to Bend, Summer Love, and Twilight Agenda.

Big money for Not This Time

Not This Time, one of the early leaders of his freshman sire class, continued to be commercially popular at the Fasig-Tipton Midlantic 2-yearolds in training sale, with a $650,000 colt checking in as the third-highest price of the sale.

Not This Time, a Giant’s Causeway horse who stands at Taylor Made Farm in Nicholasville, Ky., is represented by three winners from five starters through June, leading his class by individual winners. He averaged $247,500 from four juveniles sold at Fasig-Tipton Midlantic, led by a Marylandbred colt purchased by bloodstock agent Lauren Carlisle from the consignment of Classic Bloodstock, as agent. The colt, who worked a furlong in 10 1/5 seconds during the under-tack preview show, is the first foal out of the winning Indian Charlie

mare Sanctissima, a halfsister to Grade 2-placed Flying Private.

Earlier in June, Not This Time recorded the sale-topper at the Ocala Breeders’ Sales Co.’s spring sale of 2-year-olds in training, with a $1.35 million filly sold to Gary Young. In addition to that filly, out of Grade 3 winner Sheza Smoke Show, he was represented by a $575,000 colt at that sale.

Not This Time, a Grade 3 winner as a juvenile, averaged $63,746 from 68 first-crop yearlings sold at public auction last year, more than four times their conception stud fee of $15,000. He is averaging $193,690 from 29 juveniles sold this year.

Online bidding debuts at F-T

With the coronavirus pandemic leading auction houses worldwide to expand their remote bidding capabilities, Fasig-Tipton debuted its online bidding platform, which will be in place for all future sales, at this week’s Midlantic auction.

Fasig-Tipton reported that more than 50 horses received online bids during the two-day sale, and approximately 15 were sold online.

“At no other time has this service been more crucial or needed,” Fasig-Tipton president Boyd Browning said of the online platform. “As we all work to conduct business in the current COVID-19 environment of adjusted social norms, online bidding ensures the best possible marketplace for our buyers and sellers in 2020. Looking beyond 2020, we envision this service being an integral component of all future auctions.”