Business

Prices up but gross is down at Saratoga sale

Fasig-Tipton's Saratoga select yearling sale opened Monday with 60 horses selling for a total of $18,160,000.

The sale continues Tuesday night. The gross was down 8.6 percent from the opening session last year.

Monday's average price of $302,667 was up 16 percent, while the median price of $235,000 was up 13 percent.

The buy-back rate, of horses going through the auction ring but not selling, also rose, from 22 percent last year to 29 percent on Monday night.

A filly by the recently pensioned Storm Cat brought Monday's top price. Barry Irwin's Team Valor paid $1.5 million for the Kentucky-bred filly consigned by Hill 'n' Dale Sales Agency.

The top colt of the night was a $1.2 million son of A.P. Indy, purchased by Lane's End Farm. He had been a $500,000 buy-back at the 2007 Keeneland November sale for consignor Hunter Valley Farm.

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