Into Mischief Colt Leads Improved Trade In Opening Session Of Fasig-Tipton October Sale

Three of the four highest hammer prices were buybacks during Monday’s opening session of the Fasig-Tipton Kentucky Fall Yearling Sale, but the middle market carried its weight admirably, helping outpace last year’s comparable session across the board. An Into Mischief topped the proceedings at $400,000.

Average and median returns tracked closely to last year’s opener for much of the day, then a late rush of six-figure horses helped propel them to a healthy gain. In total, 223 horses changed hands for $7,517,000, up 16 percent from last year’s first day of trade when 230 horses brought $6,479,500. The average sale price rose 20 percent to $33,709, while the median jumped 60 percent to $16,000 – higher than the median price for any individual session of last year’s sale.

The returns displayed a stable overall market on Monday, despite the very top level sometimes struggling to gain a foothold, with buybacks of horses that hammered for $775,000, $375,000, and $325,000. Even so, the buyback rate dropped slightly to 27 percent from 29 percent.

“It’s kind of the same song and dance, honestly,” said Zach Madden of Buckland Sales. “The horses that are by the right horse, whether it’s a sire or a big update in the pedigree, people are honing in on those types really well, but you’ve still got to bring it when you come over here. You can’t be expecting crazy results by any means, but it seems like the market is buoyant enough.”

Though the returns were solid, Fasig-Tipton president Boyd Browning warned against using the first session to project the overall success of this year’s sale.

“Statistically, the numbers are going to be significantly improved this year compared to the first day last year,” he said. “However, I would urge everyone to take into consideration, I don’t think you can get a fair comparison until we’re two-thirds or three-quarters of the way through the sale.

“Last year, the first day was the weakest of the four days, and the average improved through each of the four days,” Browning continued. “Hopefully the same thing will happen this year, but I don’t know that you can make the same conclusion or the same assessment of the totality of the sale. I thought it was pretty consistent trade. It sits right in line with our expectations, and we’d expect those trends to continue over the next three days.”

Multiple consignors said the pre-sale inspection traffic felt light, but the returns indicated that buyers were paying attention. Browning said the activity on the sale grounds for a spread out, larger-catalog sale like Fasig-Tipton October can be a matter of perspective.

“I think it’s really hard to judge,” he said. “I think what happens is you forget from year to year in terms of measuring the traffic. I had a consignor telling me it’s not as busy as it was in July, and I said, ‘Well, in July, there’s 300 horses and they’re scattered over seven barns. This sale, there’s 1,500 horses scattered over 23 barns when you include the tents. It’s not going to be as concentrated of activity.’ I think overall, it felt like a similar amount of trade as last year. Repository levels seemed to track at similar levels as previous years.”

Monday’s session-topper came near the end of the day’s trade, when Paul Brodsky bought Hip 347, an Into Mischief colt for $400,000.

The bay colt is the second foal out of the Grade 3-placed stakes-winning Smoke Glacken mare Cor Cor, whose first foal is unplaced. Canadian champion Madman Diaries is in the extended family, along with Grade 3 winner Meafara. Steven Venosa signed the ticket on behalf of Brodsky.

Summerfield Sales consigned the colt, as agent for Stonestreet Farm’s “Bred and Raised” program.

“There’s a lot of money looking for nice horses, so it may or may not hold [as the overall sale-topper],” said Summerfield’s Francis Vanlangendonck. “I just know he’s a really nice horse. Whether he goes to the 2-year-old sales or the races, he’ll do well. He’s got a good mind. Stonestreet’s thrilled, so it all worked out well.”

Vanlangendonck said the patience the Stonestreet yearling prep program showed in waiting until October to sell the colt paid off. The colt had 18 scopes, and Vanlangendonck said he was safely past his reserve.

“He was originally set up for Keeneland [September], but he wasn’t coming around, and they felt like there was a lot of horse there to wait on,” he said. “You can get plenty of money for a horse in this sale. I’m not afraid to come here with a nice horse.”

The Fasig-Tipton Kentucky Fall Yearlings Sale continues through Thursday, beginning daily at 10 a.m. Eastern.

To view the full results, click here.

The post Into Mischief Colt Leads Improved Trade In Opening Session Of Fasig-Tipton October Sale appeared first on Horse Racing News | Paulick Report.

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