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Maryland Yearlings Final Average Down 26.8%
Overall in Maryland, "fireworks were few & far between during the 3-day auction, as only 10 horses sold for 6-figures, compared with 27 in 2007" reported thoroughbredtimes.com. Cumulatively 483 yearlings sold (from 753 offered) for US$8,211,600: down 38.4% on last year's 574 sold for US$13,331,400. The cumulative average of US$17,001 was down 26.8% (last year US$23,225) & the lowest since 2002. And the cumulative median of US$9,000 was down 10% (last year US$10,000). The buy-back rate was 35.9% (compared with 25.2% a year ago). Fasig-Tipton chairman Walt Robertson summed up: "You never want to be down, but everything in the world is down, especially this segment of the market. We damn sure knew it was gonna be tough under US$30,000. It has been all year & the (economic turmoil on Wall Street) this week sure didn't help."