Updated 10/08/2012 05:44 PM
Fasig-Tipton gears up for first ever Fall sale in Saratoga
Fasig-Tipton's roots in the Spa City go back more than 100 years, but this week, the thoroughbred auction house hosts its first ever fall sale in Saratoga. YNN's Matt Hunter has more on what's driving the increased level of interest in the market.
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SARATOGA SPRINGS, N.Y. – "You never know where the next good one is going to come from. It could come from anywhere," said Joe McMahon, owner of McMahon Thoroughbreds of Saratoga.
That's always been the driving spirit behind the thoroughbred industry: The thought that any horse, no matter its pedigree or price tag, just might become the next Derby or Travers winner.
McMahon said, "That's one of the greatest things about the business, is that there's always a chance the next one is the big one."
For more than a century, the American industry's epicenter has been Kentucky but after a video lottery terminal casino opened at Aqueduct last year, new revenue began flowing into New York's on-track purses and breeding program, leading to a never before seen interest in the market. As a result, the auction company Fasig Tipton is hosting its first ever fall sale in Saratoga this week.
"It basically came as a request of our customers, our key New York based customers came to us about three-and-a-half, four months ago and said we'd love for you to try a breeding stock sale and a horses of racing age sale," said Fasig Tipton COO Dan Pride.
Unlike the two yearling sales Fasig Tipton hosts in August, the fall sale includes horses already of racing and breeding age. If there's any reason to give buyers pause, it's the State's planned takeover of the New York Racing Association.
"It confuses people as to whether this money is really there for the New York-bred program or not," said bloodstock agent Harry Landry.
Pride said, "I know there's a political side to this revenue and we, just like most people, have to sit back and hope it continues to flow through the system but we are also realistic to know that things can change."
The Governor's announcement regarding NYRA won't come until after Tuesday's sale is complete, allowing buyers more than enough time to potentially get their hands on the next champion.
McMahon said, "You'll see horses that aren't going to reveal their best potential here, but nonetheless they could be the next Funny Cide or the next big time horse."