Saratoga Sales

I am just back from four whirlwind days in Saratoga including the first night of the Fasig-Tipton yearling sales. It was business as usual at the track and at the sales pavilion, boosted in large part by the attendance of Sheikh Mohammed.

Last year, Synergy Investments, run by one of the Sheikh's associates, purchased Fasig-Tipton and proceeded to pour substantial capital into the company with the intention of turning the summer sale into the word's premier yearling auction. The grounds have been beautifully updated with the major benefit being an improved walking area for the horses en route to the sales ring. The "on deck" area is so much safer for the spectators and so much better for the horses with improved lighting, fencing, fans and the presence of big screen televisions to let everyone know exactly what is going on in the auction ring at all times. The crowd seemed to loved the improved viewing area which afforded them plenty of front row seats in increased safety thanks to the substantial and attractive fencing. All around a much needed update.

In addition there was increased table and food service and more paving around the sales pavilion where the crowds like to gather. The presence of televisions almost everywhere you turned kept the crowd engaged in the auction, which continued as usual in the pavilion. Rumor has it that the Pavilion itself is next in line for a much needed rennovation.

The sales started early: 6:00 p.m. which did make for some slow going in the early hours, but bidding was lively, aided once again by the presence of many English agents, the majority of whom were bidding for the Sheikh or his associates. Sales prices were up a tad and the first night sales toppers both went to the Sheikh. Not only were his cronies everywhere, the Sheikh himself greeted crowds outside the sales pavilion lending his star status to the event. It is always fun but this year it seemed electric.

The Americans are not buying horses for more than about $300,000 but the Arabs are, so while overall sales numbers are up, the economy is still affecting the industry. The Sheikh is on a mission and he does not like to fail--so if bringing some of the biggest names in the business together--often at his expense--and then literally putting his money where his mouth is--sets the stage, then he more than demonstrated his "failure is not an option" mentality.

The bigger question, of course, is whether or not it will work and that remains to be seen. What the industry got was a much needed shot in the arm, a boost to sagging morales and a few glittering days of "prohibition-be damned" attitude.

Like I said, it was a lot of fun.