The Fasig-Tipton Company, Inc. is an American
auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition ex ...
house for
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word ''thoroughbred'' is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed. Thoroughbreds are c ...
and
Standardbred
The Standardbred is an American horse breed best known for its ability in harness racing, where members of the breed compete at either a trot or pace. Developed in North America, the Standardbred is recognized worldwide, and the breed can trace i ...
horses. Founded in 1898, it is the oldest auction company of its kind in
North America
North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...
.
The company has offices in
Lexington, Kentucky
Lexington is a city in Kentucky, United States that is the county seat of Fayette County, Kentucky, Fayette County. By population, it is the List of cities in Kentucky, second-largest city in Kentucky and List of United States cities by popul ...
,
Elkton, Maryland
Elkton is a town in and the county seat of Cecil County, Maryland, Cecil County, Maryland, United States. The population was 15,443 at the 2010 United States Census, 2010 census. It was formerly called Head of Elk because it sits at the head of na ...
,
Grand Prairie, Texas
Grand Prairie is a city in Dallas, Tarrant, and Ellis counties of Texas, in the United States. It is part of the Mid-Cities region in the Dallas–Fort Worth metroplex. It had a population of 175,396 according to the 2010 census, making it t ...
,
Saratoga Springs, New York
Saratoga Springs is a city in Saratoga County, New York, United States. The population was 28,491 at the 2020 census. The name reflects the presence of mineral springs in the area, which has made Saratoga a popular resort destination for over 2 ...
, and
Ocala, Florida
Ocala ( ) is a city in and the county seat of Marion County within the northern region of Florida, United States. As of the 2020 United States Census, the city's population was 63,591, making it the 54th most populated city in Florida.
Home to ...
. In 2008, Fasig-Tipton Co. was purchased by Synergy Investments Ltd., a Dubai-based company headed by Abdulla Al Habbai. Of the 13
Triple Crown
Triple Crown may refer to:
Sports Horse racing
* Triple Crown of Thoroughbred Racing
* Triple Crown of Thoroughbred Racing (United States)
** Triple Crown Trophy
** Triple Crown Productions
* Canadian Triple Crown of Thoroughbred Racing
* Trip ...
winners, two of the three which were offered at public auction were sold at Fasig-Tipton: 2015 winner
American Pharoah
American Pharoah (foaled February 2, 2012) is a Thoroughbred racehorse who won the American Triple Crown and the Breeders' Cup Classic in 2015. He was the 12th Triple Crown winner in history, and in winning all four races, became the first ho ...
, sold at the 2013 Fasig-Tipton Saratoga Sale and 1975
Seattle Slew
Seattle Slew (February 15, 1974 – May 7, 2002) was a champion American Thoroughbred horse racing, racehorse who became the tenth winner of the Triple Crown of Thoroughbred Racing (United States), American Triple Crown (1977). He is one of only ...
, sold at the 1973 Fasig-Tipton July Sale in Kentucky.
History
![CatOldGlory1903-9thAnnual](https://upload.wikimedia.org/wikipedia/commons/b/b4/CatOldGlory1903-9thAnnual.jpg)
The Fasig-Tipton Company, Inc. is an
auction
An auction is usually a process of buying and selling goods or services by offering them up for bids, taking bids, and then selling the item to the highest bidder or buying the item from the lowest bidder. Some exceptions to this definition ex ...
house for
Thoroughbred
The Thoroughbred is a horse breed best known for its use in horse racing. Although the word ''thoroughbred'' is sometimes used to refer to any breed of purebred horse, it technically refers only to the Thoroughbred breed. Thoroughbreds are c ...
horses founded in 1898 by William B. Fasig and
Edward A. Tipton. It is the oldest auction company of its kind in
North America
North America is a continent in the Northern Hemisphere and almost entirely within the Western Hemisphere. It is bordered to the north by the Arctic Ocean, to the east by the Atlantic Ocean, to the southeast by South America and the Car ...
. Its first headquarters were in Madison Square Garden in New York, and Fasig-Tipton initially sold high-class road and carriage horses in addition to Thoroughbred and
Standardbred
The Standardbred is an American horse breed best known for its ability in harness racing, where members of the breed compete at either a trot or pace. Developed in North America, the Standardbred is recognized worldwide, and the breed can trace i ...
racing stock.
Fasig-Tipton's main horse auction in the early 20th century was referred to as "Old Glory." Held annually in late November or early December, the Old Glory sale offered a "Grand Aggregation of Thoroughbred
Stallion
A stallion is a male horse that has not been gelded (castrated).
Stallions follow the conformation and phenotype of their breed, but within that standard, the presence of hormones such as testosterone may give stallions a thicker, "cresty" nec ...
s,
Mare
A mare is an adult female horse or other equine. In most cases, a mare is a female horse over the age of three, and a filly is a female horse three and younger. In Thoroughbred horse racing, a mare is defined as a female horse more than four ...
s, Racehorses,
Yearlings, and
Weanlings," as well as Standardbreds. Shortly after the Old Glory sale of 1907, New York suffered a severe economic downturn, and bank closures threatened the sustainability of the horse sales business. Fasig turned the company over to his assistant, Enoch James Tranter, who brokered a deal with the banks which allowed the young company to survive the financial instability. Tranter's also made dramatic changes to the format of the sales catalogue: originally, the page for each horse offered might list up to 30 generations of
pedigree
Pedigree may refer to:
Breeding
* Pedigree chart, a document to record ancestry, used by genealogists in study of human family lines, and in selective breeding of other animals
** Pedigree, a human genealogy (ancestry chart)
** Pedigree (animal ...
with limited or no produce record, as well as subjective descriptions written by the individual consignors. Tranter changed this so emphasis was placed on the performance and production history of the horse's closest relatives, limiting the page to three to four dams with detailed information about the horse's dam's performance. Tranter also insisted on health certificates for all horses entered into his sales and pregnancy certificates for broodmares offered in foal. Fasig-Tipton was the first horse sales company to do this.
Saratoga
![Humphrey S](https://upload.wikimedia.org/wikipedia/commons/0/05/Humphrey_S._Finney_Pavilion.jpg)
After World War I, Fasig-Tipton established a satellite office in Saratoga Springs, New York. The new pavilion was host to the Saratoga Selected Yearling Sale, which was held during the Saratoga race meet beginning in 1917. Due to cargo limitations imposed on breeders during World War II, the Saratoga Sale was suspended from 1943 through 1945. In 1959, Fasig-Tipton was honored as the Saratoga Firm of the Year.
In 1968, the Humphrey S. Finney Sales Pavilion was built, named after an individual who worked for the company from the 1930s through the 1960s. In 2010, the pavilion and sales grounds were renovated to improve amenities for buyers, sellers, and horses. It is located approximately a quarter of a mile from the
Saratoga Race Course
Saratoga Race Course is a Thoroughbred horse racing track located on Union Avenue in Saratoga Springs, New York, United States. Opened in 1863, it is often considered to be the oldest major sporting venue of any kind in the country, but is actua ...
.
The Finney Pavilion, the center of the sales during the month of August, is a small auditorium with seating on the bottom in front of an oblong walking ring, where the horses are shown and the auctioneer and spokesperson sit during the sales. The balcony area contains more seating and a press box, around which is an art exhibition put on by the Cross Gate Gallery, which is not affiliated with Fasig-Tipton. The grounds also hold a restaurant, a snack bar, eight large barns, an office and tool room, and a large walking ring attached to the pavilion for warming up and viewing the horses. Two alleys that front parts of the property are named Fasig Lane and Tipton Lane.
Sales held annually in Saratoga include the Saratoga Sale (selected yearlings), the New York Bred Sale (preferred yearlings), and the Saratoga Fall Sale (horses of all ages). The Fasig-Tipton auctions in Saratoga are typically held in early August. Historically the Fasig-Tipton Saratoga Sale kicks off the summer yearling sales in North America, preceded only by their own Kentucky July yearling sale. There are two nights of Select Sales where only the top yearlings in the country are selected to be sold. During these sessions one can only sit inside the pavilion if a reservation is made in advance. The public is allowed on the grounds and inside the pavilion to view the horses and artwork inside, but cannot sit unless prior arrangements are made. The New York Bred Preferred Yearling Sale is offered annually the weekend after the Saratoga Sale. During the Preferred sessions only selected New York bred horses are shown, and the public is invited to sit where they wish. The sales grounds and seating are open to the public throughout the sale but seating is limited during the Selected sessions.
Kentucky
![Hip76FTK11-12FTK71](https://upload.wikimedia.org/wikipedia/commons/5/5e/Hip76FTK11-12FTK71.jpg)
In 1972, Fasig-Tipton established its now-permanent headquarters in Lexington, Kentucky. The Kentucky office operates year-round, offering five sales. Sales held annually in Kentucky include the Kentucky Winter Mixed Sale (horses of all ages), the July Sale (selected yearlings), the Summer Selected Horses of Racing Age Sale, the October Sale (Kentucky fall yearlings), and the November Sale (selected weanlings, two-year-olds, racing prospects, and broodmares).
Each November, the November Sale annually produces the highest average price of any breeding stock sale worldwide. The November Sale currently holds three world records for horses offered at public auction: top-priced broodmare, Broodmare of the Year
Better Than Honour
{{Infobox racehorse
, horsename = Better Than Honour
, image =
, sire = Deputy Minister
, grandsire = Vice Regent
, dam = Blush With Pride
, damsire = Blushing Groom
, sex = Mare
, foaled = 1996
, country = United States
, colour ...
, who sold for $14,000,000 in 2008; top-priced broodmare prospect, champion
Havre de Grace, who sold for $10,000,000 in 2012; and top-priced juvenile filly,
Breeders' Cup Juvenile Fillies
The Breeders' Cup Juvenile Fillies is a -mile thoroughbred horse race on dirt (although the distance has varied, depending on the configuration of the host track) for two-year-old fillies run annually since 1984 at a different racetrack in the Uni ...
(G1) winner
Stardom Bound
Stardom Bound (foaled in Kentucky on April 9, 2006) is an American Thoroughbred racehorse who won the 2008 Breeders' Cup Juvenile Fillies and the Eclipse Award for Champion 2-Year-Old Filly.
Stardom Bound was sired by Tapit (winner of the 2004 W ...
, who sold for $5,700,000 in 2008.
Expansion
![FTGPscenics3-15FTK152](https://upload.wikimedia.org/wikipedia/commons/f/f4/FTGPscenics3-15FTK152.jpg)
Fasig-Tipton began holding sales in Florida in the 1950s. At first, the Florida Two-Year-Olds in Training Sale alternated between
Calder Racecourse
Calder Casino is a casino located in Miami Gardens, Florida. It includes slots, electronic table games, and bingo.
The casino opened in 2010 and features a gaming floor with 1,100 slot machines, including video poker, as well as electronic r ...
and
Hialeah Park
The Hialeah Park Race Track (also known as the Hialeah Race Track or Hialeah Park) is a historic racetrack in Hialeah, Florida, Hialeah, Florida. Its site covers 40 square blocks of central-east side Hialeah from Palm Avenue east to East 4th Avenu ...
. In 2015, the selected sale moved permanently to
Gulfstream Park
Gulfstream Park, owned by The Stronach Group, is a Thoroughbred race track, casino and outdoor entertainment and shopping destination in Hallandale Beach, Florida. Thoroughbred horse racing occurs year-round, defined by three distinct race meets ...
. The Florida Sale produced the most expensive Thoroughbred ever to sell at public auction, a colt which sold for $16,000,000 in 2006, later named
The Green Monkey
The Green Monkey (February 4, 2004 – May 2018) was an American Thoroughbred racehorse. A descendant of both Northern Dancer and Secretariat, The Green Monkey was sold in 2006 as a two-year-old colt for the highest price ever paid at auction f ...
.
In 1986, Fasig-Tipton established a Midlantic division, based in Timonium, Maryland. The Midlantic Two-Year-Olds in Training Sale holds the record for most expensive Thoroughbred sold at public auction in Maryland, a filly which sold for $1,250,000 in 2015.
2008 acquisition
In 2008, Fasig-Tipton was purchased by Synergy Investments Ltd., a
Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...
-based company headed by Abdulla Al Habbai.
The acquisition added international representatives in
Australasia
Australasia is a region that comprises Australia, New Zealand and some neighbouring islands in the Pacific Ocean. The term is used in a number of different contexts, including geopolitically, physiogeographically, philologically, and ecologica ...
,
Europe
Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditions. Europe is also considered a Continent#Subcontinents, subcontinent of Eurasia ...
, and
South America
South America is a continent entirely in the Western Hemisphere and mostly in the Southern Hemisphere, with a relatively small portion in the Northern Hemisphere at the northern tip of the continent. It can also be described as the southe ...
. In addition, Fasig-Tipton modernized its sales facilities in Lexington, Saratoga, and Timonium, as well as made considerable technological upgrades.
See also
*
Keeneland
Keeneland Association, Inc. is an equine business based in Lexington, Kentucky. It includes two distinct divisions: the Keeneland Race Course, a Thoroughbred racing facility, and Keeneland Sales, a horse auction complex. It is also known for it ...
References
External links
* {{Official website, http://www.fasigtipton.com/
Horse auction houses
Saratoga Springs, New York
Retail companies established in 1898
Companies based in Lexington, Kentucky