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SARATOGA SPRINGS, N.Y. -- It's been more than a month since the last race at the Saratoga Race Course, but this week, the Spa City is once again a focal point of the thoroughbred industry.

Fasig-Tipton, which has been auctioning off thoroughbreds each summer in Saratoga for more than 100 years, hosted its first fall sale. Unlike the yearling sales of the summer, this auction includes horses ranging from just a few months old to some that have already finished their racing careers and are now used for breeding.

The decision to hold the sale came after New York breeders asked for it because of a growing interest in the industry caused by new VLT revenue.

"Kentucky is the commercial center of the breeding industry, but New York is the best racing in the world, so there's a lot of opportunity for these New York bred horses, so it's caused big demand for them," said Joe McMahon, owner of McMahon Thoroughbreds of Saratoga.

"It's really a three year process to start something like this that doesn't have a track record, get people used to selling here, so give us a three year window and we'll really know where we are," said Dan Pride, Fasig-Tipton COO.

The auction catalog includes 254 horses, many sired by some of the state and country's top stallions.