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Fasig-Tipton cancels autumn yearling sale

FASIG-TIPTON has cancelled its autumn yearling auction in Lexington, Kentucky, citing a lack of viability for the sale. The auction was scheduled over two days in late October, after the major US and European yearling sales in the calendar.

"A sale should be viable for consignors, buyers, and lastly for the sales company," said Dan Pride of Fasig-Tipton. "The feedback we are getting from our constituents indicated this was not the case for the October Yearling Sale. This was also the majority position at our advisory board meeting in early March.

Pride became chief operating officer of the historic auction house last September, four months after it was purchased by Synergy Investments, a Dubai-based company.

He told the Racing Post in September that Fasig-Tipton would concentrate on its three flagship sales - the Calder sale of two-year-olds in Florida in March, the Saratoga select yearling sale in New York in August, and the November breeding stock sale in Lexington.

At last year's October Yearling Sale, aggregate sales fell by 30 per cent, the average dropped by 28 per cent and the median lost 45 per cent compared to a year earlier, while the clearance rate fell from 80 per cent to 64 per cent.

Fasig-Tipton's Selected Yearling Sale in Lexington is on course for July 21-22.

 

 

 

 

 

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