Business

Fasig-Tipton sale figures way down from last year

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.

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.

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