At the Aug. 10 conclusion of the 100th edition of The Saratoga Sale, everyone breathed a sigh of relief and reassurance.
The sale of the century was just that.
After the absence of Fasig-Tipton's selected yearling sale in Saratoga Springs, N.Y., in 2020 due to the COVID-19 pandemic, its welcome return invigorated buyers and sellers alike charging into the rest of the season.
Boyd Browning Jr., president and CEO of Fasig-Tipton, recounted the evening: "Fantastic, vibrant, energetic, dramatic, I think were all applicable tonight. I've said it before, and I'll say it again, it all begins with the quality of the horses on the sales grounds. We were lucky to have an exceptional group of horses on the grounds this week."
Buyers came ready to step up on both nights of the sale, with the first night seeing gross receipts of $25,280,000, followed by a second night of gross receipts of $29,875,000. A total of 180 yearlings went through the ring over the two-day affair, 135 selling with end receipts of $55,155,000. These numbers nearly surpassed the 2019 gross of $55,547,000, when the sales company saw 182 horses through the ring with 135 sold.
This year's average price of $408,556 was down by just $2,903 from the 2019 average of $411,459. The median of $350,000 went unchanged, while the RNA rate of 25% was down slightly this year in comparison to the 2019 rate of 25.8%.
"You could feel the buzz growing on the sales grounds … We had a few more breakout horses tonight purely by the alphabet. Swear we don't stack the deck," Browning said. "All in all, it was a near-record sale in every statistical evaluation. To accomplish that coming off of disruption in 2020, I think is frankly remarkable.
"More important than the statistics were the vibrancy, the recirculation of a lot of sales dollars, when you consider that we sent out zero proceeds checks in September of 2020. We're going to be sending out a lot of money in September 2021," Browning added. "That's what's so important to the industry. We've restored some sense of order. It gets everyone back on their pattern, and it gives people the ability to plan and strategize and feel confident moving forward."
The 2021 edition of the sale made history for more than its milestone, becoming the first Thoroughbred auction company to accept cryptocurrency as payment for a horse when Spendthrift Farm used the method to purchase Hip 172, a Violence filly consigned by Darby Dan Farm, for $100,000.
Leading consignor Gainesway had 12 yearlings of 14 on offer change hands for gross receipts of $7,105,000. Denali Stud was second in total figures with $5,750,000, seeing 10 sold from 11 offered in their consignment.
"At the 100th Fasig-Tipton Saratoga Sale, I can't help but to think of my father and the impact he had on this sale and Fasig-Tipton," said Gainesway general manager Brian Graves, son of the late Bill Graves. "I am honored for Gainesway to be the leading consignor and his presence is felt immensely in my heart. I'd like to thank all of our clients for making this possible, and I'd like to thank Fasig-Tipton for putting on a wonderful, electric atmosphere."
"The success of the sale starts with the consignors allowing you to offer a quality product. If you offer a quality product, the buyers will embrace what you're trying to do," Browning added. "We were very fortunate to have a very strong catalog with outstanding individuals we worked hard to select and cultivate."
A lively bidding war for a son of Into Mischief sparked midway through the night between M.V. Magnier of Coolmore Stud inside the pavilion and Fabricio Buffolo of Besilu Stables out back.
Coolmore secured the colt consigned by Gainesway as Hip 168 for $2.6 million. The bay is out of the Test Stakes (G1) winner Paola Queen and was bred in Kentucky by Don Alberto.
"That's the only horse we've had for Don Alberto; it's a memorable one, and we'll be forever grateful for having the chance to top the sale for him," Graves said on selling the sale topper. "The first time I saw that horse, I thought he was an absolute standout. Don Alberto was kind enough to let us have him in our consignment. He was unhinged in his walk, just a lovely moving walk. He attracted the attention of all the top buyers."
"(Hip 168) was a majestic, physical individual. He walked out of the stall and it was like, 'Dear God, please send him to Saratoga,'" Browning said.
As the night drew to a close, Browning appeared ready as ever to charge into the future.
"Could hardly be happier right now," he said. "If it wasn't the sale of a century, it was awfully close. It lays the foundation for us to begin working for the next century of great horse sales in Saratoga and magic sales. I promise you we'll do our part to make sure that happens."
