Tag: Cormac Breathnach

Brisk Trade At Keeneland November Book 2 Opener

by Jessica Martini & Christie DeBernardis

LEXINGTON, KY — The momentum from Monday's opening session of the Keeneland November Breeding Stock Sale continued into the first session of Book 2 Tuesday in Lexington with a pair of mares bringing seven figures.

“I would describe it as a solid day,” said Keeneland President and CEO Shannon Arvin. “Overall, we are very happy with the gross, very happy with the median and average being up over last year.”

During Tuesday's session, 197 horses sold for $35,073,000. The average of $178,036 was up 6.26% from a year ago and the median, which dipped slightly during Monday's session, was up 7.69% to $140,000.

“We continue to use the median and the RNA rate as our measures of the depth and health of the market overall,” said Keeneland Director of Sales Operations Cormac Breathnach. “The averages are great and are great for headlines, but we look at the depth of the market as well and the median is a good indicator of that. Today, in that sense, was a strong day. Yesterday was a good day, too, we had a lot of seven figure offerings which made the average really strong. But overall, our median is up from last year and that's how we hope to see that continue.”

The session's buy-back rate was 27.84%, up from last year's corresponding figure of 22.07%, but that increase could be a reflection of the strong market, according to Breathnach.

“The RNA's are up a little bit, but people are probably being a bit more selective because replacement costs are high,” he said. “And you are going to roll on for another year if you don't feel like you can replace with the same quality.”

Jane Lyon of Summer Wind Farm made the day's highest bid, going to $1.45 million to acquire the 4-year-old racing/broodmare prospect Park Avenue (Quality Road). Jim and Dana Bernhard, stocking their broodmare band at their recently acquired Pin Oak Stud, made the session's other seven-figure bid when going to $1 million for Sweet Sami D (First Samurai), who sold in foal to red-hot Gun Runner. It was the first time Book 2 of the November sale had produced a million-dollar transaction since 2017.

Pin Oak Stud purchased four mares Tuesday and was the session's leading buyer as the domestic buying bench gained strength into Book 2.

“We had a really strong buying bench,” Arvin said. “We had much more domestic activity today than we did yesterday. We saw Jane Lyon, Determined Stud, and the Winchells and Jim and Dana Bernhard adding to their bloodstock. It was nice to see them active.”

With two positive sessions in the books already, the November sale will have plenty of momentum to carry it through its final eight sessions.

“We are off on the right foot,” said Breathnach. “We have the first day of Book 2 behind us and we have eight more sessions in the Breeding Stock Sale and then the racehorse sale to come, but it feels really good and the energy is good. There are a lot of buyers here and a lot of people talking about the shows in the barn area for tomorrow and beyond. We know we have a long way to go, but we are very pleased with this beginning.”

The Keeneland November Breeding Stock Sale continues through Nov. 16 and is followed by a Horses of Racing Age Sale on Nov. 17. Bidding begins daily at 10 a.m.

Park Avenue Leads to Summer Wind

Jane Lyon of Summer Wind Farm had been outbid on some of her top picks earlier on the sale, so she was bidding with determination when she acquired Park Avenue (Quality Road) (hip 478) for $1.45 million Tuesday at Keeneland.

“I need some good mares,” Lyon said after signing the ticket on the 4-year-old filly. “I've been outbid on several I wanted–the sale topper yesterday and a couple of others along the way–so I was pretty determined not to get outbid on her.”

Park Avenue, a $450,000 Keeneland September yearling purchase, won this year's Ouija Board Distaff S. and was second in the GIII La Canada S. for Hronis Racing and trainer John Sadler. She retires from racing with four wins from 14 starts and earnings of $330,887.

Lyon is breeder and co-owner of recently retired superstar Flightline (Tapit) and Park Avenue could be visiting that stallion next year.

“We are going to debate it,” Lyon said of possible mating plans. “Because there is a close connection pedigree-wise [to Flightline]. But we will debate that with people who know–certainly not me.”

Park Avenue is out of Remarkable, who, like Flightline's dam Feathered, is by Indian Charlie.

Asked if she was surprised by Park Avenue's seven-figure price tag, Lyon said, “Oh yes. I am always surprised.”

During Monday's first session of the November sale, Lyon acquired the racing/broodmare prospect Edgeway (Competitive Edge) (hip 156)–also trained by Sadler for Hronis Racing–for $1.7 million.

“I am looking for good, quality mares, preferably if they had raced and been successful,” Lyon said. “I came here saying I was going to buy mares in foal and so far I've bought two who aren't. I am going to have to sit down and rethink it.”

Park Avenue was consigned Tuesday by Lane's End and the farm's Allaire Ryan thought she was a standout in Book 2.

“When two people want them, anything can happen,” Ryan said. “In this group, she was a standout for us. That was beyond our expectations and a super sale all the way around. She was a beautiful filly who obviously had plenty of talent and ability on the track. Her looks just surpassed that. She took your breath away when you saw her. She's a classy filly. She was popular at the barn and people kept coming back to look at her multiple times. We knew we had the right players on her. It's nice to see everyone get rewarded.” @JessMartiniTDN

 

 

 

Bernhards Assembling Broodmare Band For Their 'New' Farm

With their recent purchase or the historic Pin Oak Stud near Versailles, Jim and Dana Bernhard were busy at Keeneland purchasing mares for their new property. They purchased 10 yearlings at the Keeneland September sale under the name of their Lynnhaven Racing, but signed under the name of Pin Oak Stud Tuesday.

“We have plenty of stall space out there, so we figured we might as well get as many good ones as we can,” Matt Weinmann, the Bernhards' advisor, said. “We are looking for top quality, good pedigrees with really good physiology. You can't put a number on how many of those are in this sale. We will see.”

Their first purchase under their new moniker was Broadway Lady (Constitution) (Hip 283) for $500,000. A $125,000 FTKJUL yearling buy, the dark bay won four of her 21 starts and hit the board in seven others. She had a timely update coming into the sale, finishing third in the GIII Ontario Matron S. Oct. 22.

Out of SW Livi Makenzie (Macho Uno), Broadway Lady is a half to dual Grade III-winning sophomore colt Tawny Port (Pioneerof the Nile). She was consigned by Bluewater Sales on behalf of owner Gary Barber.

“We are going to breed her next year,” said Weinmann. “She is a lovely filly and checked all the boxes for us. Being Grade III-placed in her last race gave her that black-type, which is very important. After the sale, we will go over matings and see who she fits and go from there. We really liked her. She's beautiful.”

The new Pin Oak crew was back in action later in the session, taking home Cyrielle (Animal Kingdom) (Hip 313) for $160,000 and going to $700,000 for Querelle (Violence) (Hip 497) from the Grovendale consignment. The GSP mare, who sold in foal to Constitution, was acquired by Glendalough at Dromoland for $220,000 at the KEEJAN sale earlier this year.

They made their biggest purchase of the day late in the session, going to a cool $1 million for Sweet Sami D (First Samurai) (Hip 573), who sold in foal to red-hot sire Gun Runner.

“She was probably my favorite physical of the day,” said Weinmann. “She is really high-quality mare in foal to one of the best stallions on the planet. We are just extremely excited to have her.” —@CDeBernardisTDN

 

 

 

Stonehaven's Stellar Season Continues at KEENOV

The Reddoch's Stonehaven Steadings had an exceptional Keeneland September Sale and their hot streak continued in the November sales ring Tuesday with the $1-million sale of Sweet Sami D (First Samurai) (Hip 573), who was offered in foal to sensational young sire Gun Runner.

“I'm speechless,” said a clearly emotional Leah O'Meara, who owned the mare in partnership with her parents operation and her husband Aidan O'Meara. “I didn't want to bring her out here, but I'm glad we did. I'm really glad we did.”

Aidan O'Meara added, “We bought her last year and she just blossomed ever since she's been at the farm. We put her in foal to Gun Runner last year with the thoughts of coming this way. Then Gun Runner did what he did last year, so we decided we'd take a chance and bring her out here and see what the market would do. There is an obvious attachment there, so it is a little bittersweet.”

A $65,000 claim last August, Sweet Sami D was withdrawn from last year's November sale and was mated to Gun Runner. She was a talented racehorse with a record of 21-4-4-4 and multiple stakes placings, including the GIII Monmouth Oaks for trainer Pat McBurney.

“We were talking ourselves in and out of bringing her out here,” Aidan O'Meara said. “But, this was just an incredible result. We are delighted to have made the decision we did to come out here with her.”

The Stonehaven Steadings team sold a total of 18 yearlings for $8.188 million during Keeneland's September Sale, including the sale-topping $2.5-million Quality Road colt now named Metro.

“We are lost for words,” said Aidan O'Meara. “We were lost for words in September here, but this is even more incredible. It is hard to even fathom the type of year we've had. We've been so blessed. So many things have gone our way in an industry which is renowned for things being difficult. It has just been an incredible year for us and hopefully we can use this as a catalyst to build off and keep it moving forward bit by bit.” —@CDeBernardisTDN

CHC Collecting Mares For Life Is Good

The China Horse Club kept busy Tuesday, acquiring mares to send to their new stallion Life Is Good, topped by the $750,000 Ragged Rose (Union Rags) (Hip 500), who is in foal to Quality Road.

“She is a beautiful mare from a great family and in foal to Quality Road, who is nearly the best stallion in America,” said CHC's Michael Smith. “She is very clean, strong, good limbs, great action. She is very straight forward, everything you look for in a mare. She will complement him beautifully.”

A $200,000 KEESEP buy, Ragged Rose is out of SW & GSP Cat Charmer (Storm Cat), making her a half-sister to MGSW Strike Charmer (Smart Strike) and MSP Sweet Dreams (Candy Ride {Arg}), the dam of GSW & GISP Subconscious (Tapit). She was consigned by Grovendale Sales.

China Horse Club, signing as CHC INC, also purchased Summer Solo (Arch) (Hip 566) for $400,000 in foal to champion Essential Quality, Coastana (Kitten's Joy) (Hip 304) for $290,000, Lady Aces (Constitution) (Hip 419) for $200,000 and Pythoness (Liam's Map) for $110,000. Smith indicated that all four of those mares would go to Life Is Good.

CHC purchased five mares in total for $1.75 million and an average of $350,000. They also bought Princess Grace (Karakontie {Jpn}) for $1.7 million at Fasig Tipton Sunday and intend to race her in Australia next year.

“The market is strong, but if you do your homework and keep sifting through them, you can find a bit of value as well,” Smith said. “I think we bought well today. We got some really nice race fillies with stakes form as well as this mare with the big cover.” —@CDeBernardisTDN

Song of Mine to West Point

Terry Finley of West Point Thoroughbreds signed the ticket at $700,000 to acquire Song of Mine (Ghostzapper) (hip 550) while standing out back alongside David Ingordo, but when it was time to talk to the press, Finley and Ingordo left the talking to Will Farish, son of Lane's End's Bill Farish.

“She was a beautiful mare,” Farish said. “We were excited to get her and to get her at the price we got her.”

Consigned by Buckland Sales, the 7-year-old Song of Mine sold in foal to Curlin. The half-sister to champion Songbird (Medaglia d'Oro) was purchased by the Haughey family's PTK for $800,000 at the 2016 Fasig-Tipton Saratoga sale. She made five starts in the PTK colors, hitting the board twice.

While the West Point/Lane's End partners have been buying mares to send to the recently retired Flightline, plans for Song of Mine have yet to be finalized.

“We have no immediate plans,” Farish said. “We're still talking about it, but we are excited to have her.”

Asked how he was finding the competition this week in Lexington, Farish said, “The market is really strong. It's tough to buy. But it's great for the business.”

With the arrival of superstar Flightline, the 24-year-old Farish has picked an exciting time to get more involved in the family business.

“I am working for David Ingordo, I just started this year,” Farish said. “It's been a fun start. I hope to keep working with David for the foreseeable future. I've been going to all these sales and learning a lot. I am going to try to keep learning.”

It was easy for Farish to pinpoint the highlight of his year so far.

“Well this past weekend was pretty fun,” he said with a smile, referring to Flightline's romp in the GI Breeders' Cup Classic. @JessMartiniTDN

 

 

 

Schoenthal Determined to Get Don'tforgetaboutme

With a page laden with black-type, Don'tforgetaboutme (Malibu Moon) (Hip 334) proved quite popular Tuesday and it was trainer Phil Schoenthal, acting on behalf of Matt Dorman's Determined Stud, who won out at $550,000. Consigned by Claiborn Farm, she sold in foal to Blame.

“Anytime you get a mare, where the first dam fills the page with a bunch of graded stakes winners and black-type, it is very commercial,” Schoenthal said. “All of her foals have sold very well. She's a good producer, so it is all the boxes we are trying to check to put together an elite broodmare band. We are also big fans of Blame. I just told Mr. Hancock that we were trying to find some mares to breed to him, so the fact she was in foal to Blame was a bonus for us. She was the whole package.”

As for who she will visit next, Schoenthal said, “Mr. Dorman has a lot of stallion shares that he has purchased, so we will sort all of that out later. We have a lot of options with her.”

Don'tforgetaboutme is a half-sister to GSW Mo Tom (Uncle Mo), MGSW Red Ruby (Tiznow), SW & MGISP Beautician (Dehere) and SW Bella Castani (Big Brown). Claiborne purchased her for $675,000 at the 2015 KEENOV sale and she produced five foals for them, including GSP Royal Spirit (Into Mischief). All of them fetched six figures at their respective yearling sales, topped by her 2021 Candy Ride (Arg) colt, who brought $575,000 from WinStar and Siena Farm at the recent KEEESEP sale. —@CDeBernardisTDN

Quality Road Colt Destined for Resale

A colt by Quality Road (hip 315) was the top-priced weanling Tuesday at Keeneland when selling for $425,000 to Archie and Michelle St. George. Consigned by Lane's End, agent, the gray is out of the unraced Daisy Miller (GB) (Smart Strike), a half-sister to graded winner Mrs. Danvers (Tapit) and from the family of War Front.

“The sire is very good and the physical is very good, so he just made sense,” said Archie St. George, while confirming the colt was purchased to pinhook next year. “He has a good hind end to him and he walks really well. He ticks a lot of boxes.”

The weanling was bred by W.S. Farish, Greathouse Equine, David Greathouse, Kerry Cauthen and Tony Lacy. Deuce Greathouse purchased Daisy Miller for €60,000 at the 2017 Arqana December sale. Her colt by American Pharoah sold to Hideyuki Mori for $175,000 at this year's Keeneland September sale. The 8-year-old mare was bred to Yaupon this year.

Asked how he was finding the foal market in the early days of the November sale, St. George smiled and said, “Too strong.” @JessMartiniTDN

Good Day For Grovendale

James Keogh's Grovendale Sales, now operated in partnership with Chance Timm, made a strong showing during the Book 2 opener with the successful pinhook of a pair of mares.

First up was Querelle (Violence) (Hip 497), who sold in foal to Constitution for $700,000. The Grade III-placed mare from the family of GISW Declassify (Orientate) was purchased by Keogh and partner Chip Muth of Glendalough at Dromoland for $220,000 at this year's KEEJAN sale.

“Myself and my friend Chip Muth bought her together,” Keogh said. “We bred her to Constitution and it worked out really, really well. I think she was the second -or third-last mare through the ring during the January Sale.”

Just three hips later, another Keogh pinhook, Ragged Rose (Union Rags), brought $750,000 carrying a foal by Quality Road.

“She is a beautiful mare,” said Keogh. “A couple of my friends got together. She was in California last year and a friend of ours was able to arrange the purchase. We were fortunate enough to get to Quality Road and obviously Quality Road is the magic.”

Overall, Grovendale sold 14 head for $3,752,000 for average of $268,000.

“We have sold 11 out of 12 so far,” Keogh said three-quarters of the way through the session “It is very, very important to get your reserves correct. We have been on the reserve or a little were obviously the exception. It's always a good market at Keeneland.” —@CDeBernardisTDN

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Keeneland Catalogs 295 for November HRA Sale

Keeneland announced 295 horses have been cataloged for the November Horses of Racing Age Sale to be held Nov. 17, the day after the conclusion of the November Breeding Stock Sale. The catalog is now online at www.Keeneland.com for the single-session auction for racehorses, which will start at noon ET. A print catalog for the sale with Equibase past performances for the entrants will be available at Keeneland by Oct. 31.

“Racehorses have traditionally been a popular segment of the November Breeding Stock Sale, and this is the first year Keeneland is featuring them in a stand-alone auction,” Keeneland Director of Sales Operations Cormac Breathnach said. “Horses of racing age are an important aspect of the market, and this sale is growing to support the trade of racehorses as horsemen relocate to winter racing destinations. We are excited about what this sale offers and what it can become.”

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Record-Setting Keeneland September Sale Strong to the Finish

The Keeneland September Yearling Sale, which surpassed $400-million in gross sales for the first time in its history, concluded Saturday with new records, not just for turnover, but also for average and median and with 30 seven-figure yearlings doubling the number from the 2021 auction.

Keeneland sold a total of 2,847 yearlings through the ring for $405,495,700 during the 12-day auction, surpassing the previous record of $399,791,800 set during the 2006 September sale. The cumulative average and median prices surpassed September sale records set last year, with the average price of $142,429 up 7.83% from 2021 and the median up 7.69% from $65,000 to $70,000.

“This sale went beyond our expectations and reflects the energy and excitement in racing right now,” said Keeneland President and CEO Shannon Arvin. “We are grateful to our consignors, sellers and buyers for their support of Keeneland and the September sale. And a special thanks to the breeders. We appreciate how much hard work goes into breeding and raising quality horses, and we are very happy they were rewarded for their efforts through the ring.”

The Keeneland sales team was focused on starting off the September sale with a power-packed Book 1 and the elite section delivered right from the first hip through the ring.

“The very first hip bringing $850,000 set the tone,” Keeneland Vice President of Sales Tony Lacy said. “That first day was incredible. We really leaned into getting Book 1 solidified by listening to our buyers and our clients. This was something we needed to reestablish to make sure we had the quality forward. It really worked. The buyers appreciated it. There was almost a sense of euphoria around the grounds for a number of days and it carried all the way through the sale.”

The two-day Book 1 section produced gross sales of $113,660,000–a 25.42% increase over 2021–and included 96 horses who sold for $500,000 or more, up from 43 last year. The two-day Book 1 clearance rate jumped from 65% in 2021 to 78% this year.

Keeneland Director of Sales Operations' Cormac Breathnach credited the sales strong results to a quality group of horses and a diverse buying bench.

“The catalogue is only as good as the support the breeders give you,” Breathnach said. “And there was a very good crop of yearlings that has been bred here and nationally and that's a credit to the breeders and to the sellers who have presented them so well. We were really well supported. And also by the buying base, domestically and internationally, all the way through the book. If you look at the activity of the likes of St. Elias and several of our leading trainers in the last few days, it just shows the hunger for racehorses is there and we are proud of what we were able to present and very pleased with the results and happy for all of our clients.”

The 12-day September sale attracted a deep buying bench dominated largely by domestic buyers and, by the close of business Saturday, 88 different buyers had spent $1 million or more. The 30 million-dollar yearlings were purchased by nineteen different buying entities.

“If you look at the number of people who bought at that [million-dollar] level, the numbers are spread across quite a large number of buyers,” said Lacy. “In the past, we were very reliant on some of the bigger entities to support those million-dollar plus purchases. I think what you saw this year, and somewhat last year, was a broad buyer base that supported that level of the market. For us, that was extremely encouraging. There were some newer players, some very established people. But the diversity of the market was very encouraging.”

For the second year in a row, the partnership of Talla Racing, Woodford Racing and West Point Thoroughbreds made the biggest purchase of the September sale. The group, which purchased a $1.7-million son of City of Light to top the 2021 auction, was forced to $2.5 million to acquire a colt by that stallion's sire, Quality Road, to top the 2022 sale.

The sale-topper was consigned by Stonehaven Steadings, which sold 19 horses for $8,283,000.

“It's been a tremendous market,” Stonehaven Steading's Aidan O'Meara said. “We had a phenomenal run ourselves, but everybody across the board has had some seriously nice trading. It's a huge turnaround from a couple of years ago at the height of COVID and we were all fretting about what was going to unfold in that scenario. To see the turnaround in such a short period of time has been phenomenal.”

Repole, Viola Repeat as Leading Buyers

The partnership of Mike Repole's Repole Stable and Vinnie Viola's St. Elias Stable repeated as the September sale's leading buyer, with 31 yearlings purchased for $12,840,000, while Repole, who was seated in the pavilion for much of the first half of the sale, was, individually, the auction's fourth highest buyer, acquiring 27 yearlings for $7,940,000.

“With Mike Repole and Vinnie Viola, we bought a lot of horses and that was their game plan coming in,” said bloodstock agent Jacob West, who was active for the leading partnership as well as several other clients. “The plan was to really go after what we deemed quality and give ourselves a chance to win the big Saturday races. All in all, you sound like a broken record, but good horses always sell well. And that's what I saw in the market.”

Won't You Be My Partner?

Partnerships continued to play a major part in the marketplace, with the stallion-making team of SF Racing, Starlight Racing and Madaket Stables purchasing 21 yearlings for $12,825,000 to be the second leading buyers for the second straight year. Also in the market for potential future stallions, the BSW/Crow Colts Group teamed with Spendthrift and Gandharvi to buy 10 colts for $4,290,000.

“It's massive,” Lacy said of the impact partnerships have had on the market. “It's obviously a huge investment for anybody and any individual, so to spread that investment over a  number of horses increases your opportunity to gain and be part of a good individual or a good program. We all enjoy sharing success and I think that's where people are starting to realize this is something that is actually fun. I think coming out of the pandemic, you see a lot more people who have an appreciation of the sport and want to be involved in it. It's a great way to let people in without the high-risk investment if they were doing it alone or in a small partnership. I think this is here to stay for quite a while. I am excited about what it can do for our industry in general over the next 10-20 years.”

Other major players to team up for the top 30 lots included Winchell Thoroughbreds and Three Chimneys; Whisper Hill Farm and Three Chimneys; John Oxley, M.V. Magnier and Breeze Easy; Repole, St. Elias and West Point; and M.V. Magnier and Mike Repole.

“When you can diversify your portfolio and invest your money into multiple horses, you just give yourself a better chance to buy more quality products,” West said. “You give yourself a better chance of hitting a home run. People have realized the inherent risk that goes along with this game is very high. It's high risk, high reward, so if you can get involved in a partnership and diversify and lower your exposure, it makes all the more sense for people.”

Japanese Buyers Fight Exchange Rate

While facing a less favorable exchange rate than in previous years, Japanese buyers were still active at the Keeneland sale.

“There were 10 groups from Japan here for the sale,” Lacy said. “That's the busiest they've been at a September Sale in a long, long time.”

Hideyuki Mori led the way among Japanese buyers, joining the seven-figure parade with the $1.2-million purchase of a half-brother to Triple Crown winner Justify. Mori purchased five yearlings for a total of $2,545,000.

“We are very aware of the factors that are at play, with the currency exchanges being a major part of that,” Lacy said. “That was what was so encouraging that, even with the yen at a 35-year low against the dollar, Japanese buyers were very active. They probably couldn't swing as hard as they could have in a more favorable market for them, but they did see the value in what they were buying. And I think that's incredibly important. Our breeders here breed a high-quality horse that is very appealing to the international market. It just goes to show, when the currency exchanges start swinging back in their favor, I think the international markets will be even more prevalent.”

West Buying And Selling

West, along with Jill Gordon, had the first September consignment of his Highgate this year, allowing the prolific buyer to appreciate the other side of the auction ledger

“With Highgate now, I can see both sides of it,” West said. “And if I am being honest, there were some surprises, both good and bad. Some horses exceeded our expectations and then some horses didn't meet our expectations, but it seemed like the ones that exceeded our expectations really over-exceeded our expectations. So it seemed like, if you were deemed by the public as having a quality product, you got rewarded. Which is always good for the breeders.”

West said the September results reflect an overall positive attitude in the industry.

“I think, quite frankly, there is confidence in our business and in our industry,” West said. “Whether you want to say that's from the purse structures that we have or even what some of these stallion prospects have been selling for once they retire, or the money some of the top horses are making, or a little bit of it may be that people have some belief that we are playing on a more level playing field with HISA coming into play.”

West continued, “The other thing, too, that I don't think a lot of people give credit for, whether FOX Sports or TVG, I think we've done an incredible job of promoting our business. During COVID, we were the only show in town and I thought a lot of people were very interested. Every year it seems the handle keeps growing. There are still some bumps in the road, but overall, I think we have a quality product that appeals to a lot of people. There are new partnerships forming–it seems like whether it's West Point or Eclipse Thoroughbred or whatever syndicate group–they always seem stronger buying at the top end because they have more people investing with them. And I think a lot of that has to do with the marketing that TVG, and especially FOX Sports, have done with NYRA and Churchill and those type of tracks that they are covering.”

Demand Continues into Week Two

Demand continued into the second week of the 12-day auction, with leading buyers like St. Elias Stable, which purchased the top lots during the sale's 10th and 11th sessions, joined by international buyers from Argentina, Azerbaijan, Chile, China, Ireland, Kazakhstan, Korea, Mexico, Panama and Saudi Arabia.

“It's an incredible market. The rate of sales is amazing,” said Pat Costello of Paramount Sales, which sold 136 horses for $20,448,500. “There is depth to the market. The top-end guys kept buying back into other books [beyond Books 1 and 2] and that has driven people back into these books [5 and 6]. One of the things driving the market is the shortage of horses.”

In Books 4-6, the clearance rate never fell below 82%. During the ninth session Wednesday, a Keeneland record 329 horses sold through the ring in a single session.

“It's been a strong sale across the board, and it's amazing it has held up so well and above last year,” said Marc McLean of Crestwood Farm, which sold seven-figure horses for the first time, a Gun Runner colt and a Quality Road colt, each for $1.05 million. “There has been a good floor, which is nice for the horses that aren't the stars. It had great depth. That's a healthy market to me. We had quite a few standouts in each session. It's nice to have horses that are the more elite of the day. It's such a great feeling for us and the owners and breeders and the whole farm staff to have something that you feel will stand out. We're in Book 6, and we're busier than we ever dreamed we'd be.”

Taylor Made on Top Again

Taylor Made Sales Agency led all consignors at the September sale for the eighth consecutive year and the 24th year since 1988. Taylor Made sold 273 yearlings for $38,969,000, including three seven-figure colts by Constitution ($1.8 million), Quality Road ($1.15 million) and Into Mischief ($1 million).

Gainesway was second in total sales, followed by Paramount Sales, Lane's End Farm, Denali Stud, Eaton Sales, Woods Edge Farm, Hill 'n' Dale Sales Agency and Machmer Hall Thoroughbreds.

Lane's End Farm's Quality Road was responsible for seven of the 30 seven-figure yearlings and he was bettered in that category only by Spendthrift Farm's Into Mischief, who had eight. Three Chimneys' Gun Runner had five million-dollar yearlings, while Curlin had three. Justify, Constitution and City of Light each had two, while Tapit had one.

For the third straight year, Into Mischief was the leading sire by gross, with 58 yearlings selling for $30,495,000. Omaha Beach was the leading first-crop sire with 59 yearlings grossing $12,667,000 for an average of $214,695. He was followed in that category by Audible, who had 66 yearlings sell for $10,609,000 for an average of $160,742.

English Channel Filly Tops Keeneland Finale

A filly by English Channel (hip 4108) brought a final bid of $115,000 from Tracy Farmer to top the final session of the September sale Saturday. Bred by Calumet Farm and consigned by Buckland Sales, the yearling is out of In Dy Ritz (A.P. Indy) and is a full-sister to stakes winner and multiple graded placed Ritzy A. P.

In all, 184 yearlings sold Saturday for a gross of $2,518,000. The session average was $13,685 and the median was $8,000.

There was no corresponding session a year ago.

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‘Can’t Miss’ Keeneland September Sale Starts Monday

LEXINGTON, KY- The 79th renewal of the Keeneland September Yearling Sale opens its 12-day run Monday with the first of two Book 1 sessions beginning at 1 p.m. Consignors started showing Book 1 yearlings Friday and an international cast of shoppers were getting second looks at those elite youngsters on a misty Sunday morning in the Bluegrass, while also getting a head start on Book 2 horses who will start selling Wednesday.

“I think the activity is very good, particularly for Book 1,” said Peter O'Callaghan, whose Woods Edge Farm will warm up with  four yearlings during the first two days of the sale before offering 11 head in Book 2. “I think we did 83 all-shows on Friday and we did 116 yesterday, maybe not all-shows, but we had a full day's showing. We are showing the next group already today and we've had quite a busy morning for the Sunday morning up there. I think the signs are good.”

The first three days of showing featured an eclectic mix of buyers from around the world, according to Legacy Bloodstock's Tommy Eastham, who expects momentum to build on from a strong group of Book 1 offerings.

“Traffic has been really encouraging, not just volume-wise, but quality of shows,” Eastham said. “Keeneland has done a good job of bringing every accent in the world here. And I think they've done a really good job of picking out the horses. [Keeneland Vice President of Sales] Tony [Lacy] and [Keeneland Director of Sales Operations] Cormac [Breathnach] have done a really great job of putting some quality horses up front here. It's always been difficult for us in Book 1, if we started the sale with a little bit of a thud, then it takes to Book 2 for everyone to get confident in where they are. But the buyers keep mentioning what a great group of horses is here and I think there is a great deal of excitement.”

Consignors expect to see a continuation of familiar marketplace conditions over the next two weeks at Keeneland, with strong demand at the top and a polarization between the perceived quality offerings and those less-fancied horses.

“I am sure it will be a strong sale, but selective as every sale has been this year and for past years,” said Hill 'n' Dale Sales Agency's John Sikura. “There is plenty of money here and all of the right people. There is great pre-sale activity. They will do their scrutiny and they will land on the horses they like physically and the ones that vet to their satisfaction. Hopefully, we will have several that appeal to the elite buyers.”

Sikura continued, “I think [the polarization] is here to stay. You have a shrinking foal crop combined with a shrinking number of racetracks. So people are going to buy what they like and there probably isn't a buyer for every horse. You are rewarded on the ones that meet the scrutiny of multiple buyers and they make extra and then there are the ones that don't quite make it. There are savvy people who sometimes bid under the crazed market and then there are people who want exactly what they want and those cost more.”

Foreign buyers come to Keeneland this year while facing uncertain economic conditions in Europe and less-than-favorable exchange rates across the globe.

“Every year you are hoping you have a global market and that people from all marketplaces are here,” Sikura said. “You can't change the economic environment in various nations. That's sort of beyond your control. You just make the horses as good as you can make them and bring your best product to sale.”

Sikura added that economic conditions are less likely to impact top-end buyers.

“I think there is a lot of insulation of very wealthy people and in tough times they are still in a position to buy what they like,” he said. “Everything is cyclical to a degree. But I don't think inflation and potential economic slowdown has a lot of impact on our marketplace. A global recession would, but I don't think the vagaries of marketplaces in different countries would make that much difference because in every environment when things are tough for one sector, they are good for another. If you are in the oil and gas business, it's probably been good, but the stock market hasn't been as good, but it was good before. I think there is an ebb and a flow.”

After years in which overseas interests dominated the buying sheets, the domestic buying bench stepped up at the last two September sales to fill the void left by major buyers Godolphin and Shadwell, with partnership groups leading the way. Mike Repole and Vinnie Viola's St. Elias Stables teamed up to buy 43 yearlings at last year's September sale for a leading $16,045,000. They were followed by the SF Bloodstock/Starlight/Madaket partnership which purchased 24 head for $10,590,000. The powerhouse partnership buyers also included the BSW/Crow Colts Group which purchased 20 horses for $6,805,000.

Representatives from all three groups were out in force at the Keeneland barns ahead of Monday's first session.

“This sale has been very successful without Sheikh Mohammed the last couple of years and no Sheikh Hamdan last year,” O'Callaghan said. “The domestic buyers are very strong. I think it's given the high-end domestic buyers more confidence that they can buy these horses now. For years, I think they thought when they were bidding against the Maktoum families they had no chance. Since COVID, the domestic buyers have really stepped in and gotten in early and been great supporters of the sales. And then there are all the new buying groups–they've just been an absolute gift to the game. Whether it's the SF group or the Liz Crow group, Todd [Pletcher] last year, the way they are working it this year, they are working it very hard. All these guys are very committed–as they should be because racing is strong at the moment.”

Book 1 horses have had to deal with a perception problem in recent years with consignors seemingly happier to be a big fish in a Book 2 pond than overshadowed in Book 1. The Keeneland sales team has made a point of countering that image (Keeneland's Premier Book in Every Way).

“Keeneland has done a good job getting more people in early,” O'Callaghan said. “I think that ad they ran highlighting the success of the first 20 hips was a good ad and they need to sell that message. It's important that people can have confidence to bid on the early horses, because year after year, it's where the value is.”

The Keeneland September sale is often considered a bellwether for the marketplace as a whole and the auction comes in the midst of a series of strong yearling sales throughout the country, giving consignors the optimism that demand for horses will remain beyond the auction's opening books.

“The market has been really strong,” said Eastham. “I think it's been fair. I think horses are bringing what they are worth. We always worry about what happens when we go past these select horses but, just me as a consignor, the Iowa sale was up almost twice as much, the New Mexico sale and the Texas sale were up. I think that mid-market horse, we are going to be fine there. I think there is still going to be enthusiasm for that market.”

In an effort to create a festive atmosphere to the pavilion on sales days, Keeneland added live music, as well as passed hors d'oeuvres and cocktails a year ago. Those amenities, plus facility upgrades, will return this year.

“The success of September Sale graduates combined with the availability of quality yearlings at all price levels make the September Sale a can't-miss event for horsemen from around the world,” Lacy said. “This year, we are excited to share our latest capital improvements and facilities around the grounds–from renovated barns to the Saddling Paddock Chalet here for the Breeders' Cup World Championships–and we are continuing to elevate the September sale atmosphere with fun touches and elements that enhance the experience.”

The Keeneland September sale opens with Book 1 sessions on Monday and Tuesday beginning at 1 p.m., while Book 2 sessions on Wednesday and Thursday begin at 11 a.m. Following a dark day Friday, the auction resumes Saturday and continues through Sept. 24 with sessions beginning daily at 10 a.m.

The post ‘Can’t Miss’ Keeneland September Sale Starts Monday appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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