The Fasig-Tipton Company, Inc. is the auction house for Thoroughbred horses that was founded in 1898. It is the oldest auction company of its kind in North America. The company has offices in Lexington, Kentucky, Elkton, Maryland, Grand Prairie, Texas, Saratoga Springs, New York, and Ocala, Florida. In 2008, Fasig-Tipton Co. bought by Synergy Investments Ltd., a Dubai-based company headed by Abdulla Al Habbai. Of the 12 Triple Crown winners, only two have ever been offered at a public auction, either by Fasig-Tipton: The 2015 American Pharoah winner, sold at Sales Fasig-Tipton Saratoga 2013 and 1975 Seattle Slew, sold at Fasig-Tipton July 1973 Sold in Kentucky.
Video Fasig-Tipton
History
The Fasig-Tipton Company, Inc. is the auction house for Thoroughbred horses founded in 1898 by William B. Fasig and Edward A. Tipton. This is the oldest auction company of its kind in North America. His first headquarters were at Madison Square Garden in New York, and Fasig-Tipton originally sold horse-drawn carriages and horse-drawn carriages in addition to Thoroughbred and Standardbred stock racing.
Fasig-Tipton's main horse auction at the beginning of the 20th century was called "Old Glory." Held annually in late November or early December, Old Glory sales offer "Grand Aggregation of Thoroughbred Stallions, Mares, Racehorses, Yearlings, and Weanlings," as well as Standardbreds. Shortly after the sale of Old Glory in 1907, New York suffered a severe economic downturn, and bank closures threatened the continuity of the horse sales business. Fasig handed the company to his assistant, Enoch James Tranter, who brokered a deal with banks that allowed the young company to withstand financial instability. Tranter also made dramatic changes to the sales catalog format: initially, the page for every horse on offer might include up to 30 generations of genealogies with limited or absent production records, as well as subjective descriptions written by each sender. Tranter changed this so the emphasis was placed on the performance and production history of nearby horse relatives, limiting the pages to three to four dams with detailed information on the performance of the horse dam. Tranter also insisted on a health certificate for all horses that were put into sales and a pregnancy certificate for chicks offered by foals. Fasig-Tipton is the first horse sales company to do this.
Saratoga
After World War I, Fasig-Tipton established a satellite office in Saratoga Springs, New York. The new Pavilion is host to the Saratoga Selected Yearling Sale, held during the Saratoga race beginning in 1917. Due to the limitations of cargo worn to breeders during World War II, the Saratoga Sale was discontinued from 1943 to 1945. In 1959, Fasig -Tipton was honored as the Saratoga Company of the Year.
In 1968, the Humphrey S. Finney Sales Pavilion was built, named after someone who worked for the company from the 1930s through the 1960s. In 2010, the pavilion and the place of sale were renovated to improve facilities for buyers, sellers, and horses. Located about a quarter mile from the Saratoga Race Course.
Finney Pavilion, the sales center during August, is a small auditorium with a seat at the bottom in front of the walking circle, where the horses are shown and the auctioneer and the spokesperson sit during the sale. The balcony area contains more seating and a press box, around which is an art exhibition installed by the Gate Gallery Gallery, which is not affiliated with Fasig-Tipton. The area also has a restaurant, snack bar, eight big barns, office space and tools, and a large walking ring attached to the pavilion for warming up and looking at the horses. The two aisles on the front of the property are named Fasig Lane and Tipton Lane.
Annual sales in Saratoga include Saratoga Sales (selected puppies), New York Bred Sale (preferred puppies), and Saratoga Autumn Sale (horse of all ages). The Fasig-Tipton auction in Saratoga is usually held in early August. Historically Sales of Fasig-Tipton Saratoga started annual summer sales in North America, preceded only by their own annual Kentucky July sales. There are two Select Sales nights where only elderly children in the country are selected for sale. During these sessions, one can only sit in the pavilion if the reservation is made in advance. The public is allowed in the grounds and inside the pavilion to view horses and artwork inside, but can not sit unless prior arrangements are made. The New York Bred Preferred Yearling Sale is offered annually on weekends after Saratoga Sale. During Selection sessions only selected New York horses are shown, and the public is invited to sit where they want to be. Places of sale and seating are open to the public during the sale but seating is limited during the Selected session.
Kentucky
In 1972, Fasig-Tipton established its now permanent headquarters in Lexington, Kentucky. The Kentucky office operates throughout the year, offering five sales. Annual sales in Kentucky include Kentucky Winter Mixed Sale (horses of all ages), July Sales (selected puppies), Selected Summer of Horse Sold Ages, October Sales (Kentucky Autumn Boys), and November sales (selected) weanlings, two-year-olds, racing prospects, and brooding).
Every November, November sales each year produce the highest average price of every sale of livestock stocks around the world. November sales currently hold three world records for horses offered at a public auction: Broodmare's top-priced, Broodmare of the Year Better Than Honor, which sold for $ 14 million in 2008; the prospect of a high-priced broodmare, champion Havre de Grace, which sells for $ 10,000,000 in 2012; and filly upscale teenagers, winning Breeders' Cup Juvenile Fillies (G1) Stardom Bound, which sold for $ 5.7 million in 2008.
Expansion
Fasig-Tipton began holding sales in Florida in the 1950s. Initially, Florida's Two-Year Olds in Sales Training alternated between Calder Racecourse and Hialeah Park. By 2015, selected sales are permanently moved to Gulfstream Park. The Florida sale produced the most expensive Thoroughbred ever sold at a public auction, a horse that sold for $ 16 million in 2006, then named The Green Monkey.
In 1986, Fasig-Tipton formed the Midlantic division, based in Timonium, Maryland. The Midlantic Two-Year-Olds at Sales Training holds the record for the most expensive Thoroughbred sold at a public auction in Maryland, a filly that sells for $ 1,250,000 by 2015.
2008 acquisition
In 2008, Fasig-Tipton was purchased by Synergy Investments Ltd., a Dubai-based company headed by Abdulla Al Habbai. This acquisition adds international representation in Australasia, Europe, and South America. In addition, Fasig-Tipton is modernizing its sales facilities in Lexington, Saratoga, and Timonium, as well as making substantial technological improvements.
Maps Fasig-Tipton
See also
- Keeneland
References
External links
- Official website
Source of the article : Wikipedia
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