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Kentucky Yearlings Final Average Up 76.3%

Friday, 28th October 2011

Overall in Kentucky, the 3-day Fasig-Tipton Fall Yearling Sale concluded with 710 lots sold for US$17,046,800 (up 81.4% on last year’s 690 sold for US$9,395,300). The final average of US$24,010 was up 76.3% (last year US$13,616) & the final median of US$12,000 was up 140% (last year US$5,000). Meanwhile the buy-back rate improved to 19.8% (last year 29.4%) & bloodhorse.com declared: “By every measure, the Fasig-Tipton Kentucky fall yearling sale was a resounding success.” Fasig-Tipton president Boyd Browning commented: “We had high expectations & they were exceeded. It has been a tremendous horse sale. There was a lot of demand for a wide variety of horses & the sale obviously was very well-attended. One comment that we heard in our own office was that we were seeing people buying horses at this sale that had not been active as buyers for the last 5 or 10 years. They weren’t necessarily buying at the very top end, but they were buying in the US$15,000-US$50,000 range. Maybe the prices have come down to a level where they wanted to participate again. Maybe the world economy has gotten to the point where the level of confidence & the lack of return in other areas are making people want to participate in the horse business again. Maybe some of the positive developments in New York had a little bit of a trickle-down effect; the tax incentive (for horse buyers) has been a significant motivator.” And Kentucky-based trainer Kenny McPeek noted: “The tax break is a huge factor. The government has given people every reason to buy yearlings.”

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