With a $525,000 Early Voting filly and a Practical Joke colt of the same value leading strong activity at the top of the market, the Fasig-Tipton New York-bred yearling sale finished with records for gross revenue as well as average and median sales prices as it concluded Monday evening in Saratoga Springs.
“This is what happens when you have quality horses,” Fasig-Tipton president Boyd Browning Jr. said. “You know, this New York-bred program is without any question the best state-bred program in the United States. There continues to be a concerted and collective effort to improve it, and it’s thriving. That is reflected in these sales results today.”
Fasig-Tipton reported that 198 state-bred yearlings sold over two sessions for gross receipts of $23,820,000, soaring past the previous record gross of $20,904,000 for 219 horses sold in 2023. Last year, 182 yearlings grossed $19,095,500. These figures represent horses sold through the ring before any private sales were factored in.
Led by the $525,000 Early Voting filly who topped Sunday’s opening session and the Practical Joke colt who matched her price on Monday, three horses sold for $500,000 or more - the first time that threshold has been met at this sale since 2022. The top price at this auction last year was $370,000, while nine horses met or exceeded that price at this renewal.
Fueled by that strength at the top of the market, the cumulative average finished at $120,303, not only spiking 15 percent from $104,178 last year but shattering the prior record of $107,512 from the 2018 sale.
The average price was one of several factors showing strong demand for New York-breds as positive developments continue in the state. Beginning in 2026, the New York Racing Association will increase purses for maiden New York-bred 2-year-old races on its circuit to be equal to open-company maiden races. Purse parity for other races will follow in the future. The first change will immediately impact these yearlings as they begin their racing careers next year.
“I think that’s very important,” Bill Leak, stallion manager for the Irish Hill and Dutchess Views Stallions operation, said. “You see the purses in Kentucky and everybody talks about that, and that’s fantastic, and I think we’re going to be looking at those great numbers in New York. It’s very exciting.”
The median, considered an even stronger indicator of market health because it is not influenced as much by outlying prices, was $87,500, increasing 3 percent over the prior record of $85,000 established last year. The buyback rate was 22 percent, improving from 26 percent in a selective marketplace.
The Practical Joke colt who matched the top price on Monday was purchased by Sallusto and Kimmel, agents for MWG, on the sales ticket. Multiple Grade 1 winner Practical Joke, a son of reigning leading sire Into Mischief, has developed into a top 10 general sire himself.
The gray colt, bred by Stone Bridge Farm, was consigned by Indian Creek as agent. He is out of the unraced Cherokee Run mare Cuello de Luna, dam of six winners from as many starters.
In a common scenario at this sale, the highest-priced horses were all by stallions standing in Kentucky, with mares shipped to that epicenter of the industry to be bred and then shipped back to New York to foal and meet other requirements. That is something state stakeholders are hopeful can shift as the quality of stallions brought to the state continues to improve.
Grade 1 winners Mind Control, standing for a large partnership at Rockridge Stud, and Fire At Will, standing at Sequel Stallions, had their first yearlings offered this year. They will be followed in the pipeline by Grade 1 winner Americanrevolution at Rockridge, with first yearlings next year, and Kentucky Derby winner Rich Strike, residing at Irish Hill, with first yearlings in 2027, among other newcomers.
“I think it’s a bit of public perception, but the results have proven that you can have quality earnings and great rewards by having a horse sired by a New York stallion,” said Najja Thompson, executive director of New York Thoroughbred Breeders Inc. “It’s what we’ve been doing across the breeders’ fund and our promotions, is showing the great efforts of their progeny and success at the track, as well as the incentive push going forward that the yearlings offered at this sale will be running for purse parity. We’re trying to make every stakeholder aware that the value can only be increased by purchasing New York-sired horses.”
The top-priced yearling by a New York-resident stallion was a $240,000 Bucchero filly purchased by agent Corbin Blumberg. However, Bucchero, who stands for Ironhorse Stallions out of Questroyal North, was standing in Florida at the time of her conception and will not have his first state-conceived yearlings until next year.
The top price for an established New York sire was a $160,000 filly by state-leading sire Central Banker, purchased by Whisper Hill Farm. Central Banker stands at McMahon of Saratoga Thoroughbreds.
Harlan Malter, the managing partner for Bucchero, said he hopes to see the rising Kentucky and New York programs supporting one another. He is also enthused about the quality of stallions moving to the state.
“I think it’s super important for Kentucky and New York to work together,” Malter said. “I don’t think there’s any reason why New York can’t have a couple of really quality stallions to fill these New York races. New York breeders should be able to breed to top sires – not that they haven’t had the opportunity. In the past, there’s been very good stallions here, but I think continuing to grow the New York program with quality stallions will help New York in the long run, because we’re sharing the final product.
"I’m very hopeful for Americanrevolution, I’m very hopeful for Mind Control. They’re our competition [in the stallion market], but, man, if they can succeed, it would be fantastic for us. I think the whole program, everyone’s put in hard work to do it, and I know when Mind Control came up, the whole breeding industry in New York came together to support a stallion like that, and we’re going to continue to do that.
“I think New York and Kentucky have made a huge priority to reward the owners financially,” Malter continued. “I think the breeding program in New York even gives breeders a better chance to succeed. And if they’re going to support us, we need to continue to try to elevate the quality of the horses.”
For hip-by-hip results from the New York-bred sale, click here.
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