In the days leading up to the May 20 Fasig-Tipton Midlantic May 2-Year-Olds in Training Sale, the question on the minds of many people involved in the auction was how changes to the under tack show—timed breezes were eliminated at the "gallop only" May 18 session—would impact what happens in the sales ring?
Naturally, there was some hand-wringing from buyers, consignors, and Fasig-Tipton officials.
Less than 24 hours before the first horse had his bio read into a microphone, Fasig-Tipton president and CEO Boyd Browning Jr. didn't want to guess how things would shake out, knowing that the unusual circumstances that also included the sale being consolidated from two days to one could have countless repercussions.
But when the sale wrapped up minutes shy of 12 hours, it proved better than anyone could have imagined.
Fasig-Tipton saw significant improvements in its gross, average, and median sales numbers for the Timonium, Md., sale.
Tuesday's gross sales of $44,192,500 were 18.5% better than its previous best of $37,297,500 (2022). The average was also higher, with a mark of $135,560, up 42.1% from last year's average of $95,425. The median went from $50,000 last year to a 20% bump of $60,000 in 2025.
Last year's sale saw one horse sell for more than $650,000. This year there were 12, including four for a $1 million or more compared to one in 2024.
"Just elated with the overall results, elated for our sellers, that they hung in there," Browning said. "I mean, it wasn't any fun for anybody over last week. And they provided us the opportunity to sell quality horses. We take that responsibility very, very seriously, and we had some difficult decisions to make along the way, and they were supportive of the decisions that we made, and helped present their product in the best foot and most favorable light that they could."
The most impactful change was halting breezing as part of the under tack show after heavy rains deteriorated the track at the Maryland State Fairgrounds. After one horse fatally broke down on the track May 15, the decision was made to suspend breezing while track repairs were made. Activity resumed two days before the sale, but in the untimed format.
There were plenty of early indicators that the horses that had the opportunity to breeze had a distinct advantage.
Through Hip 360, 21 of 24 (88%) of the horses that sold for $300,000 or more breezed. But as the sale wore on, that percentage dropped to reflect just more than half of those selling at or above that threshold had breezed. Twenty-three horses with timed breezes sold for $300,000 or more versus 20 with untimed breezes or gallops.
Overall, horses with timed breezes averaged a sale price of $148,633 while those that galloped averaged $122,161.
Trainer Steve Asmussen signed the ticket on behalf of Gus King for the Uncle Mo colt consigned Hip 137, who sold for $975,000 after breezing in :10 2/5.
"He was one that worked and came out of it well, and that gave you the confidence to spend money," the Hall of Famer said.
Overwhelmingly, those at the sale were in agreement that galloping the horses was in the animals' best interest. But many, especially those who spent in the upper levels of the market, said it was easier to spend on a horse who breezed instead of one that galloped.
Some lamented the missed opportunity to earn more money from their consignment.
"If they both were able to breeze at OBS and on good track and really demonstrate how special they really are, they would be in the $2 million range," said Torie Gladwell of Top Line Sales, which consigned a $1,050,000 Violence colt (Hip 544) purchased by Zedan Racing as well as the horse purchased by King. "I love the safety for the horses, but that's why I feel like the top buyers who are looking for those three best horses of the year, like Zedan, they need the breeze show and they aren't going to be able find those top, top colts and spend $2 million, $3 million, $4 million if we don't have a breeze show."
The Violence colt didn't breeze and was the second-highest-priced horse to sell.
Gladwell said she felt many horses that galloped weren't "bringing in a lot of money." She said the success of Tuesday's sale can be attributed to consignors "doing their job and a lot of buyers trust certain consignors."
"(The buyers say) 'I understand the circumstances, but who do you really like that you think will fit my program?'" she said of the buyer-consignor relationship. "They listen to them."
Bloodstock agent Donato Lanni, after landing the Violence colt, gave the sale operator its flowers.
"The Fasig boys have done a great job with what was handed to them, and I applaud their perseverance and doing a great job," he said. "It's not easy to call the shots like that with weather."
Considering the numbers, no one could fault Fasig-Tipton if it decided to move forward with a gallop-only auction. But that discussion involves more than gross, median, and average. The relationships matter.
"I think it would be malpractice on our part to try to evaluate (the sale quickly)," Browning said. "What does it mean? What does it mean to have had an untimed session on Sunday? We were literally just in kind of like survival mode, and you just hunker down."
