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Fasig-Tipton Nov: Average Down 52.7%

Thursday, 12th November 2009

Overall at the Fasig-Tipton Fall Mixed sale, 78 lots sold for US$28,505,000 (down 59.4% from last year’s 91 sold for US$70,279,000) at an average US$365,449 (down 52.7% from US$772,279) & a median US$170,000 (down 32% from US$250,000). However the buy-back rate fell from 39.3% last year to 29.7% this year. Fasig-Tipton president Boyd Browning commented: “You have to begin by saying there were 2 horses last year that brought roughly US$20 million in Better Than Honour & Stardom Bound. Anybody who is an observer of the thoroughbred business knew when they picked up the catalogue this year, there weren’t 2 horses that were going to bring US$20 million. So we knew, statistically, this year was going to be more difficult than last year, which was a phenomenal exercise. Statistically, it’s virtually impossible to compare this sale to last year’s.” Browning added: “It (the market) was fairly strong this year. It’s the same thing you’ve been hearing us say for many, many years. The quality horses have significant demand, very good activity on them & a ton of interest. The ones that don’t tick all the boxes or have questions in their produce record or questions about their covering sire or questions about their cover date are very difficult to sell in the market we are experiencing right now.” And Browning noted: “We had tremendous international participation. Buyers from Australia were very strong, the French were represented very well & the Japanese were tremendous. But that being said, the 2 most expensive horses were sold to Americans. It was a very, very diverse group of buyers. I think our catalogue has gotten more international credibility & we have the types of horses that have more international appeal.”

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