In 15 years with Fasig-Tipton, the sales company's director of marketing Evan Ferraro has become one of its most familiar faces. Longevity helps, but so does the nature of a job that requires much more than his title suggests, frequently placing him front and center with buyers and sellers.
On the eve of his biggest day of the year, hours before the first offerings of a blockbuster November Sale passed through the ring, Ferraro spoke to MarketWatch about his family history with horses, working for Fasig-Tipton, and what makes the "Night of the Stars" a sale unlike any other.
MarketWatch: What can you tell us about your background with Thoroughbreds before ending up at Fasig-Tipton?
Evan Ferraro: I grew up in a racing family. My dad (Stephen Ferraro) was a trainer in Southern California from 1970-90 and his mother was a racing commissioner in California in the 80s. My mother (Richmond Ferraro) grew up on farms in Virginia and did stallion advertising for a very long time and worked for Barretts (Equine Sales). So I never really had a choice to do anything else.
MW: But you could have gone many directions within the horse business. Why do you suppose you ended up with a sales company?
EF: Actually I wanted to be a trainer. But I did a few different things. I worked for TVG for a bit in college. Then I went to work for Harris Farms for a while to get some good farm experience, work sales, sales prep, held mares in the breeding shed, things like that.
In 2008 I met Walt Robertson, the president of Fasig-Tipton at the time, at Santa Anita, sent him my résumé, and I got an internship. The sales game was pretty fun. I got to travel, the horse sales were exciting, and the hours were a bit better than being a trainer. Eventually they offered me a job and I've been with Fasig-Tipton now for 15 years.
MW: How is marketing for a horse sales company different than, say, a corporate marketing kind of gig?
EF: You're trying to recruit buyers to sales but also recruit horses to your sales to get the buyers, so every campaign we do is two-sided. We're recruiting entries, trying to show our strengths or successes and why our venues can be a better spot for certain horses. And as far as the buying public, obviously we all like to have good sales grads because that validates the quality of your sale, but at the same time I think you've got to sell each sale's benefits.
We're all selling the same product, which is a Thoroughbred, but the timing of one sale might be right, or the select nature of our sales. And the results that come out of it are a big part of it—with the select sales we try to promote the quality over quantity aspect. We talk about highest percentage of graded stakes winners, or grade 1 stakes winners, and you've got the fun, boutique atmosphere.
MW: Where do you still see opportunities for growth for Fasig-Tipton?
EF: We've certainly seen some increased numbers in Saratoga of late so I think that sale is going very well. The October Sale has become a really popular sale and the quality has gone up significantly. Our Horses of Racing Age Sale in July has become an international marketplace.
And then I think the new frontier, which we're already seeing quite a bit of substantial growth in, is these digital sales. It takes a while for people to understand and change their buying and selling habits but we've gone from sales with 20-30 horses to up to almost 200 horses.
MW: Fifteen years could be considered a long time in one place these days. What keeps you at Fasig-Tipton and what makes it a special place?
EF: I love all the people I work with. We have a lot of fun. The company takes great care of us as employees. It's just a really great atmosphere. We get to do what we love.
Also, you wear so many hats. I don't know many places like that. I have a title of director of marketing and I oversee the marketing for the company but at the same time I'm out inspecting yearlings for the sales, handling certain accounts, buyers and sellers, doing appraisals. Everybody here wears a lot of different hats and that keeps it fresh and keeps everybody pretty tuned in on various aspects of the business.
MW: This is probably your single-biggest day of the year. What makes The November Sale unique?
EF: There is just no sale that puts together such high quality in one spot to sell in one night. I mean, you see the best of the best, and the biggest buyers of the world going toe to toe to buy the best. And then we have one night to do it so it just creates an incredible atmosphere.
Walking around looking at these horses today it's an incredible bunch of horse flesh—accomplished race mares, proven producers, champions, really nice weanlings. We cataloged 32 grade 1 winners or producers. When do you ever go to a horse sale and see that kind of quality in one book?
