Business

Fasig-Tipton yearling sale ends down dramatically

The three-day yearling sale at Fasig-Tipton ended Wednesday down significantly from the same sale in 2007, mirroring the trend at many horse sales around the world.

The sale in Lexington grossed $7,471,900 for 553 horses over three days, and 306 horses went through the auction ring without selling.

The total number of horses sold was only 13 fewer than the two-day sale in 2007, but the cumulative sales dropped 29.5 percent (from $10,595,700) and the "buy-back rate" of horses not reaching their reserve price to sell rose from 20.3 percent last year to 35.6 percent this year.

The average price declined 27.8 percent, from $17,720 to $13,512; the median price fell 45 percent, from $10,000 to $5,500.

The top seller of the final day was a colt by Wildcat Heir from the consignment of Wendy Noel Sales, agent. Elwaleed Mousa bought the colt for $107,000. Mousa also had bought the second-highest-priced yearling in the second session, a Dixie Union colt from the Middlebrook Farm consignment, for $260,000.

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