Strong results are expected from Fasig-Tipton's New York-Bred Yearling Sale that will be held tonight and Sunday at the company's sales pavilion on East Avenue in Saratoga Springs.
Demand for New York-breds has continued to grow this year following the opening of the video lottery terminal casino at Aqueduct Race Course. Revenue from the casino has flowed to the racing, increasing purses at New York Racing Association tracks and restoring the New York State Thoroughbred Breeding and Development Fund's awards program.
Fasig-Tipton catalogued 260 selected yearlings for the sale, which which begins at 6:30 p.m. each evening. A total of 26 had been withdrawn from the sale for various reasons by Saturday morning.
The 260 picked for the sale came out of the 2011 foal crop of 1,450, the smallest in many years. That crop was bred in early 2010, several months before the deal was announced to finally open the Aqueduct and following a number of difficult years for New York breeders.
Business spiked at last summer's New York-bred sale. The number of horses in the catalogue jumped from 175 to 216, the average sales price climbed 38.7 percent, the median price was up 16.7 percent and the buy-back rate declined slightly. The momentum continued into the winter and spring when New York-breds often outperformed the market in the high-profile 2-year-old sales.
“We were pleased and grateful that our client base for this sale has committed quality and quantity to the New York-Bred Sale,” said Fasig-Tipton president Boyd Browning. “These yearlings, which are 20% up in number from last year, were selected from a small crop in New York, but the diversity of consignors and sires is there for all to see.”