The gloom lifted slightly on the second day of Fasig-Tipton's fall yearling sale but the sale continued to be down substantially over last year's numbers.
As of Tuesday, a total of 387 horses sold for a combined $5.32 million, with the gross down 49.8 percent from the end of the second day last year. The sale was expanded to three days this year and continues through Wednesday.
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The highest price of the session came late in the day. A Giant's Causeway colt from the Summerfield consignment brought $310,000 from Marion G. Montanari.
While the daily average price climbed back on Tuesday, the two-day average of $13,748 remained down 26.6 percent from this point last year; the two-day median price was down 40 percent to $6,000.
The "buy-back rate" or the percentage of horses that went through the ring but didn't meet their reserve price to sell was 34 percent for the two days, over 2007's sale-total 20 percent.
The sale got off to a tough start on Monday. The opening session of the sale was down precipitously across the board.
The gross for 182 horses was about $2.2 million, down 58.9 percent from almost $5.3 million on the first day last year, when 297 horses sold.
The price average dropped 32.9 percent, from $17,801 last year to $11,940; the median dropped 50 percent, from $10,000 to $5,000.