Auction Calls for Celebration
Over the last two years the horse racing industry has been suffering under the economic crisis that has been felt across the USA. Auctions have especially been taking strain, with horses being sold for decreased prices and some owners not selling all their horses. On Tuesday, 2 March 2010, Fasig-Tipton held their Two Year Olds in Training sale in the Miami Gardens at the Calder Race Course and Casino in Florida, which turned out to be a very interesting sale, and hopefully a sign of things to come.
Some might be confused when looking at the statistics of the day as sales were less than last year, but due to the median price increasing, the horse racing industry has seen the auction as a reason to celebrate. Looking at the overall money spent at the auction, it is still less than last year, which indicates that the market is still trying to recover. But as the median price rose from $50 000 to a staggering $200 000, it means that there is hope in the near future and that the racing industry is slowly getting back on its feet again.
One filly topped the price scale at $520 000, namely a daughter of the well known Bernardini, which is also the half sister to the legendary Tapit, a Grade I champion and successful sire. The overall show stopper was an exquisitely handsome colt that had not been named yet. He was sold to the Stonestreet Stables, after a bidding war, for $2.3 million. Stonestreet Stables are a Kendall-Jackson partnership, and the son of Distorted Humor is going to make a wonderful addition to the Jess Jackson family. Blood stock agent John Moynihan also commented that much of this magnificent colt reminded him of the racing great Curlin.
In total, the sales for the auction reached $23 430 000 for ninety-one horses and Boyd Browning of Fasig-Tipton saw this event as a positive start for the horse racing industry. Commenting after the auction, Browning was quoted saying: “There appears to be some stabilization and the beginning of a recovery. It's just like the United States economy.”