Best Buys Top Two During KEENOV Book 1

by Brian DiDonato, Jessica Martini & Christie DeBernardis

LEXINGTON, KY–OXO Equine’s Larry Best took home the top two lots Monday during the lone Book 1 session of the Keeneland November Breeding Stock Sale. Early in the day he went to $1.9 million for Indian Miss (Indian Charlie) (hip 32), the dam of champion sprinter Mitole (Eskendereya) and last Friday’s GI Breeders’ Cup Juvenile runner-up Hot Rod Charlie (Oxbow), in foal to Into Mischief and from the Hill ‘n’ Dale consignment; and towards the end of the session he paid $1.95 million for GISW turfer Concrete Rose (Twirling Candy), offered as hip 216 by Lane’s End on behalf of Ashbrook Farm and BBN Racing.

With a smaller Book 1 catalog and overall sale compared to last year, 128 head changed hands Monday for $49,775,000 in gross receipts–last year’s Book 1 gross was $70,449,500 from 163 sold. The average was $388,867 (down 10% from $432,206 12 months ago), and median was $280,000 (down 6.7%). The RNA rate was 27.68% compared to 24.54% for 2019’s Book 1 session.

“We had a solid day of trade,” said Keeneland’s President-elect Shannon Arvin. “We had eight horses who sold for a million dollars or more and we were really happy with the participation. There was broad domestic and international participation. We had a lot of Japanese participation today–three of those top sellers were purchased by the Japanese. So overall, we were really happy with how the day went.”

Keeneland continues to offer the expanded bidding options it introduced for the Keeneland September Yearling Sale brought about by the ongoing Covid-19 pandemic, and 62 bids were made over the internet Monday with over $6 million in purchases made online for nine horses.

“One of the benefits we’ve learned from internet bidding is that while the agents can go out and evaluate the horses, it’s the principal who then does the bidding,” noted Keeeneland Director of Sales Operations Geoffrey Russell. “I think that has helped both the principal and the agent. The principal might go a little bit further than the agent might have been authorized to go to. So he’s back in control. I think that’s great. It’s a great benefit of the internet. It’s a different way of doing commerce in 2020, but I think we’re all learning how to play with technology and get the best benefit out of it. Consignors were very good about providing photographs and information and videos direct to Japanese buyers who aren’t here.”

Emmanuel de Seroux, who purchased $1.85-million Cherokee Maiden (Distorted Humor) (hip 212) on behalf of Japan’s Grand Farm, said of trade Monday coming off a strong Fasig-Tipton November Night of the Stars: “The market is strong. It is difficult to get the good pedigrees. I think yesterday was very strong and today again is very strong. I thought the quality would sell because privately the horses were selling very well the last couple of months. So there was no reason for the top of the market to dip. But I think it is going to be more difficult for the average horse. But at the top of the market there are a lot of people who are ready to play. They are at home and have plenty of time to study and bid.”

The day’s top weanling was a $600,000 Justify colt purchased by agent Donato Lanni and consigned by Hunter Valley Farm as hip 21.

“It’s just like everything else; the ones they all land on seem to light up the board,” said Russell of a weanling market that seemed slightly soft. “I think the pinhookers you’ll see as they go further on into the sale will get more and more into it, and I think you’d have to expect that they will play at a little bit lower level than they have played at in the past based on the results of this year.”

Keeneland November will continue on with four more books, including Book 2 sessions Tuesday and Wednesday.

“In September, I think there was trepidation after the first two books were over where we would go and we went all the way through the sale with a very strong and vibrant market. Yes, at a lower level, but the horses were trading and moving on,” said Russell of expectations heading into the less select portions of the sale. “That’s what we hope and expect will continue here. I know they are very busy in Book 2, consignors are saying there are plenty of buyers at the barns, so let’s hope that continues.”

A Bittersweet Goodbye For Bromagen

The moments after the hammer dropped at a session-topping $1.95-million for Grade I winner Concrete Rose (Twirling Candy) (Hip 216) were bittersweet for part-owner Ashbrook Farm’s Bo Bromagen.

“I know Larry [Best] bought her, but she is still my filly as far as I’m concerned,” an emotional Bromagen said. “It is bittersweet.”

He continued, “The biggest thing for us is she is going to a good home. Larry Best treats his horses better than anybody. They live better than I do, that’s for sure. I wish him the best of luck with whatever he wants to do with her.”

Bromagen picked out Concrete Rose for just $61,000 after she breezed in :10 2/5 at the 2018 Fasig-Tipton Midlantic sale and campaigned her in partnership with BBN Racing. The Rusty Arnold pupil captured her first two starts, including the GII JP Morgan Chase Jessamine S. and suffered her only loss when eighth behind a freakish performance from Newspaperofrecord (Ire) (Lope de Vega {Ire}) in the 2018 GI Breeders’ Cup Juvenile Fillies S.

Concrete Rose was a perfect four-for-four in 2019, starting with a win in the GIII Florida Oaks. She followed suit with victories in the GIII Edgewood S., GI Belmont Oaks–in which Best’s Cambier Parc (Medaglia d’Oro) finished third–and Saratoga Oaks, earning over $1.2-million.

“Obviously it’s a thrill, but nobody gets here by themselves,” Bromagen said. “I have to thank Rusty Arnold, who did such a great job with her. I am just happy that she can represent the team so well.”

Concrete Rose was consigned by Lane’s End. @CDeBernardisTDN

Best Buys Filly Who Beat His

They say “If you can’t beat them, join them,” but in Larry Best’s case Monday it was “If you can’t beat them, buy them.” Best went to a session and likely sale-topping $1.95 million late in the day at Keeneland to secure last year’s GI Belmont Oaks Invitational S. and Saratoga Oaks Invitational S. heroine Concrete Rose (Twirling Candy) as hip 216.

Consigned by Lane’s End on behalf of Ashbrook Farm and BBN Racing, Concrete Rose had twice defeated Best’s $1.25-million KEESEP buy Cambier Parc (Medaglia d’Oro): when she took the GIII Edgewood S. last May and again in the Belmont Oaks. Cambier Parc, who was fourth and third, respectively, in those two heats, reached the highest level herself in both the GI Del Mar Oaks Presented by The Jockey Club and GI Queen Elizabeth II Challenge Cup S. Presented by Lane’s End in 2019.

“I didn’t want to go quite that high, but honestly I didn’t think I’d touch her below $2 million,” said Best after exchanging pleasantries with Concrete Rose’s trainer Rusty Arnold and BBN’s Braxton Lynch. “She’s a beautiful horse and you can’t take away that record from her. I’m just thrilled to have her. I have admired Concrete Rose for a long time. I have a multiple Grade I winner, Cambier Parc, and Concrete Rose beat her and I said, ‘Wow, what a horse.'” (Click for an interview with Larry Best)

While Concrete Rose was offered as a racing or broodmare prospect, Best said she would not race again. He had been shopping during the session for mares to send to his recently retired Instagrand (see below), but said he was not sure yet who Concrete Rose would visit this upcoming season. She may have a future date, however, with Best’s $1.05-million OBSMAR acquisition Instilled Regard (Arch), who was last seen annexing the GI Manhattan S. on July 4.

“I’d love to breed Instilled Regard to her [in 2022]–I think I’m going to race Instilled Regard one more year, but those two horses I think would meld together very well,” said Best. “She’s just an outstanding horse.”

@BDiDonatoTDN

Best Adds to Band for Instagrand

OXO Equine’s Larry Best acquired the early Monday topper, going to $1.9 million to take home 11-year-old mare Indian Miss (Indian Charlie) (hip 32). The dam of last year’s champion sprinter and GI Breeders’ Cup Sprint hero Mitole (Eskendereya) saw her value increase again at the World Championships on Friday when her 2-year-old son Hot Rod Charlie (Oxbow) belied 94-1 odds to complete the exacta in the GI TVG Breeders’ Cup Juvenile.

Consigned by Hill ‘n’ Dale Sales Agency, Indian Miss was offered in foal to Best’s favorite sire Into Mischief–he had previously acquired her yearling daughter by the nation’s leading sire for $525,000 at Keeneland September.

“This one has an Into Mischief, and then I’m going to breed the mare back to Instagrand,” said Best, referring to his $1.2-million FTFMAR buy, 2018 GII Best Pal S. winner and TDN Rising Star, who will stand his first year at stud in 2021 at Taylor Made. “That’s my strategy–try to get Instagrand going, and hopefully we’ll get a nice Into Mischief foal.”

The Into Mischief–Indian Charlie cross has been a potent one, having produced this year’s GI Frizette S. runner-up and GI Breeders’ Cup Juvenile Fillies runner-up Dayoutoftheoffice as well as speedy three-time GSW and MGISP Frank’s Rockette.

“I really want to give Instagrand a shot,” said Best. “Indian Charlie is a beautiful cross with Into Mischief. Hopefully the mare is good for three or four more… I’m betting big on Instagrand; going to give it a shot anyway. You know how that is.”

Indian Miss was acquired by WinStar Farm for $240,000 out of the Edward A. Cox, Jr. dispersal at KEENOV ’18 while carrying the aforementioned Into Mischief filly. Out of stakes-winning juvenile Glacken’s Gal (Smoke Glacken), she’s a half to Grade II winner Live Lively (Medaglia d’Oro).

Best didn’t waste much time buying another high-dollar mare in foal to Into Mischief–he paid $430,000 for hip 49, Lady Tamra (Cross Traffic), who is a half to another standout Steve Asmussen sprinter in Mia Mischief (Into Mischief). Hip 49 was consigned by ELiTE. —@BDiDonatoTDN

Cherokee Maiden a Grand Purchase

Bloodstock agent Emmanuel de Seroux, bidding in the back show ring, made a final bid of $1.85 million to secure Cherokee Maiden (Distorted Humor) (hip 212) on behalf of Yoshiyuki Ito’s Grand Farm Monday at Keeneland. The racing or broodmare prospect, who was consigned by Bedouin Bloodstock, comes from an active family. She is a daughter of champion Folklore (Tiznow), who is a half-sister to the dam of Friday’s GI Breeders’ Cup Juvenile winner Essential Quality (Tapit), and she is a half-sister to the dam of recent Japanese Triple Crown winner Contrail (Jpn) (Deep Impact {Jpn}).

“Friday made a big difference, but she is a very nice broodmare prospect for us,” de Seroux said when asked what impact the Breeders’ Cup had on the purchase. “The pedigree is improving so much after Friday and there is more action in the family every day. We think she is a fantastic broodmare prospect. She is going to go to Japan, probably, it’s not finalized. But we will decide in the next few days.” (Click for more from Narvick’s Emmanuel de Seroux)

De Seroux, bidding on behalf of Ito’s Grand Farm, purchased GI Breeders’ Cup Juvenile Fillies winner Caledonia Road (Quality Road) for $2.3 million at the 2018 Fasig-Tipton November sale.

Michael Stinson purchased Cherokee Maiden for $410,000 as a yearling at the 2018 Keeneland September sale. She was most recently third in a Monmouth Park allowance while racing for the SF Racing Group in July. She has one win in 11 starts and turned in a four-furlong work in :49.20 at Keeneland Oct. 12.

Grand Farm Family is also well-represented on the racetrack in the United States with the promising Himiko (American Pharoah) who aired by 6 1/2 lengths in a Del Mar allowance for trainer Bob Baffert Sunday. That filly, a half-sister to Bodemeister, was purchased by de Seroux on behalf of the farm for $1 million at the 2017 Fasig-Tipton November sale.

“They don’t buy many, but they buy quality,” de Seroux said.

@JessMartiniTDN

Ollie’s Candy Headed to Japan

Originally scheduled to sell at last year’s Keeneland November Sale, GISW Ollie’s Candy (Candy Ride {Arg}) (Hip 83) was scratched by her connections, who chose to race her another year. She made it through the ring this year, however, and rewarded her owner/breeders Paul and Karen Eggert by bringing $1.65 million from Japan’s K I Farm, which bid online.

The Eggerts bought Ollie’s Candy’s GSW dam Afternoon Stroll (Stroll) for $85,000 at the 2015 Keeneland January Sale with this mare in utero. She won four of her 16 starts, topped by the 2019 GI Clement L. Hirsch S., and earned $930,151.

“I thought she would bring that with the way the market has been going on high-end mares,” said Taylor Made’s Mark Taylor. “My appraisal was $1.5 to $2 million and she was in that range. She is worth every penny. She still looks good after all the races she has run. In my mind she was only about three lengths off winning three additional three Grade Is. If she had won a couple more that she had rough trips in, she could have brought twice that.”

Ollie’s Candy was winless in 2020, but placed in five Grade I events, including a head second in the GI Apple Blossom H., a half-length second in the Clement Hirsch and another close second to GI Breeders’ Cup Distaff runner-up Valiance (Tapit) in the GI Juddmonte Spinster S. @CDeBernardisTDN

Lady Prancealot Also Bound for Japan

Grade I winner Lady Prancealot (Ire) (Sir Prancealot {Ire}) (hip 48), who was a close-up fourth in Saturday’s GI Breeders’ Cup F/M Turf, will be heading to Japan after Naohiro Hosoda signed the ticket on the 4-year-old filly at $1.6 million on behalf of Shadai Farm at Keeneland Monday.

“She is a Grade I winner on the turf and our main racing in Japan is on the grass,” Hosoda said of the filly’s appeal. “And of course her pedigree is suitable for mating with Japan’s main sire lines–Sunday Silence, King Kamehameha. So there are many options.”

Bloodstock agents David Meah and Jamie Lloyd acquired Lady Prancealot privately on behalf of partners Jerry McClanahan, Christopher Dunn and Jeremy Peskoff in 2018. The agents were looking for fillies racing in Europe to transfer to the U.S. with hopes of gaining black-type before selling at auction.

“This was one that the plan worked out perfectly,” Meah said. “We found her in England. She was exactly what we always try to find in Europe, something that has a bit of speed that in time will stretch out and wants fast ground. We bought her after her third start–a good friend of mine, John Egan, had ridden her and when we found out she was for sale, we called him and he highly recommended her. We kept her in England for a couple of races because we tried to go the Royal Ascot route. It didn’t pan out, we didn’t make it to Ascot, but she ran well in a couple other races. And then we brought her to America and she got into [trainer] Richard [Baltas]’s program, who has done a brilliant job with a lot of horses we’ve bought. She just went from strength to strength.”

Lady Prancealot, who eventually added partners Medallion Racing, Parkland Thoroughbreds, Craig and Josie Arntz, Donald Durando and Jules and Michael Iavarone, won the 2019 GI American Oaks, GIII Honeymoon S. and GIII Pin Oak Valley View S. On the board in 14 of 23 starts, Lady Prancealot retires with five wins and earnings of $740,841. McClanahan and Peskoff had maintained their interests in the filly up until Monday’s sale.

Asked if the filly had exceeded expectations, Meah said, “One hundred percent. Anytime you buy a horse for under $100,000 and they go on to win a Grade I, they’ve definitely exceeded expectations.”

Lady Prancealot ran a bang-up race to be fourth on championship Saturday at Keeneland.

“I thought it was her best race to date,” Meah said of her Breeders’ Cup effort. “And I think that probably enhanced buyers’ expectations. She’s proved it in California and she’s had a big win at Keeneland, but to do it against the world’s best, I think that probably pushed the needle a little bit for the buyers.”

Phillip Shelton, of Taylor Made’s Medallion Racing partnership, agreed the filly’s seven-figure price tag was likely a nod to her Breeders’ Cup performance.

“If you had asked me two days ago, I would have been surprised,” Shelton said of the filly’s final price. “But after the way she ran in the Breeders’ Cup, the strength of the market last night [at Fasig-Tipton]–anytime you have a strong market and there is a dominant buying force, it means a lot of people are not getting horses bought. I think we were expecting a strong showing today and $1.6 million was a great result for everybody. She’s a 4-year-old and there is blue sky ahead. They are going to breed her. If we couldn’t get it done we were happy to take her back and run her. We have to thank all of our [Medallion Racing] partners for putting their faith in us.”

Hosoda doubled up on mares for Shadai just a few hips later, going to $660,000 to acquire Layla Noor (Midnight Lute) (hip 51) and then went to $280,000 to purchase Olendon (Fr) (Le Havre {Ire}) (hip 82). @JessMartiniTDN

Spendthrift Picks Up Where It Left Off

After a night of heavy bidding across town at Fasig-Tipton and a morning welcoming GI Breeders’ Cup Classic and GI Kentucky Derby winner Authentic (Into Mischief) into retirement at the farm, Spendthrift Farm General Manager Ned Toffey was back in action at the first session of the Keeneland November Breeding Stock Sale. Bidding on behalf of B. Wayne Hughes’s operation, Toffey went to $1.5 million to acquire Queen’s Plate winner Holy Helena (Ghostzapper) (hip 28) from the Hidden Brook consignment. The 6-year-old mare sold in foal to Quality Road.

“She’s a nice mare with a lot of ability and a lot of pedigree, so we’re excited to have her,” Toffey said. “We will sit down and have a conversation on [mating plans] and go from there.”

Bred and campaigned by Frank Stronach’s Adena Springs, Holy Helena won the 2017 Queen’s Plate and Woodbine Oaks and was named Canada’s champion 3-year-old filly. She added wins in the 2018 GII Sheepshead Bay S. and the 2019 GII Dance Smartly S., as well as the 2018 and 2019 editions of the GIII The Very One S.

Out of Holy Grace (Holy Bull), Holy Helena is a half-sister to multiple Grade I placed Holy Boss (Street Boss). Holy Grace is a half-sister to graded winners Rookie Sensation (Unbridled’s Song) and Mark One (Alphabet Soup).

“She was a very good race mare and she’s a standout in the market here,” said Hidden Brook managing partner Sergio de Sousa. “We felt confident she would get that price. It was a little over what we thought.”

Toffey returned a few hips later to purchase Kelly’s Humor (Midnight Lute) (hip 41) for $800,000. Also Monday, Spendthrift also purchased Secret Message (Hat Trick {Jpn}) (hip 112) for $625,000 Monday at Keeneland. @JessMartiniTDN

Stonestreet Scoops Up Aussie Mare in Foal to Familiar Stallion

Barbara Banke’s Stonestreet Thoroughbred Holdings went to $1.5-million to secure talented Australian runner Houtzen (Aus) (I Am Invincible {Aus}) (Hip 31), who is carrying a foal by Stonestreet’s very own Curlin.

“She won the Magic Millions [2YO Classic], which is a hard race to win,” said Banke, standing alongside Stonestreet advisor John Moynihan. “She was a really brilliant 2-year-old in Australia–

super fast. She was in foal to my favorite stallion, so what is not to like?”

As for future matings, Banke said, “She’s by I Am Invincible, so we could send her anywhere.”

In addition to her stakes win at two, Houtzen was a multiple Group 3 winner in her native land, earning over $1.5-million. Peter O’Callaghan’s Woods Edge Farm consigned the filly for Australian owner and breeder Aquis Farm.

“We expected her to do very well,” O’Callaghan said. “She was a really talented race mare. She was a Grade I mare that didn’t win a Grade I. She was just so good looking and by a really top international sire and in foal to a top international sire. I think her looks really got her over the line. It was easy to say she was worth $800,000 to $1 million on paper, but when you looked at her, you knew she’d be better. There aren’t quite that many mares here quite as good looking as her.”

O’Callaghan said he was thrilled that she would be joining Banke’s star-studded broodmare band.

“A long-term wonderful breeder bought her and we’re very grateful for that,” he said. “It’s great for that mare to go there. They do a wonderful job and she’ll be taken care of and she deserves that. That was mare was a pleasure to have for us and a bit of a prize for us to have on the farm. We’re grateful for Aquis to have entrusted her to us and allowed us to sell her.” @CDeBernardisTDN

Sams Strikes Early For Quality Mare

After a fury of seven-figure mares at Sunday night’s Fasig-Tipton sale, it did not take long for Keeneland to get their first $1-million dollar transaction of the November Sale with Claiborne’s Bernie Sams hitting the mark for Gingham (Quality Road) just 12 hips into the day’s action.

“It is an Arthur Hancock family,” said Sams, who was bidding on behalf of an undisclosed Claiborne client. “We like the Pulpit [broodmare sire], obviously, and the Quality Road. She was raised closed to us. She was a picture and she could run. She fills all the bills.”

Gingham was catalogued as a racing or broodmare prospect, but Sams said she would likely go right to the breeding shed.

As for the price, Sams said, “I would have loved to have been a little less. We tried to buy a couple of mares last night and got outrun pretty good, so I wasn’t sure where it would be today.”

Bred by Hancock’s Stone Farm, Gingham was purchased by Sarah Kelly for $420,000 at KEESEP. The bay captured three of 10 starts, including the Angels Flight S., and placed in a pair of graded events for trainer Bob Baffert.

Gingham’s second dam is MGSW Owsley (Harlan), who is also the dam of SW & GSP Senada (Pulpit). Senada’s daughter, GSP Layla Noor (Midnight Lute) (Hip 51), sold later in Monday’s session, bringing $660,000 from Shadai Farm. Gingham’s full-brother summoned $620,000 at the recent Keeneland September sale from the group known as “The Avengers” and is now named Blackadder.

“She was graded stakes-placed in August,” said Brookdale Sales’ Joe Seitz. “She’s gorgeous and she’s by a terrific sire [Quality Road], so that really helps. That was a great price, but she was so beautiful I wasn’t surprised.”  @CDeBernardisTDN

Holmes Hits a Home Run With Veronique

When Veronique (Mizzen Mast) (Hip 244D) went through the ring at last year’s Keeneland November Sale, she was led out unsold at $22,000. Marula Park Stud’s Tony Holmes secured the mare privately after the fact and partnered with one of his employees of 22 years.

It turned out to be a very shrewd purchase. Thanks to the exploits of her undefeated son Nashville (Speightstown), the mare–who was a late supplement to this catalogue–was very popular at Keeneland this time around, bringing $800,000 from bloodstock agent James Delahooke.

“We thought it could happen because [Nashville] did it so naturally [when winning the Perryville S. Saturday],” Holmes said after shaking hands with consignors Spider Duignan and Pat Costello of Paramount Sales. “It is just special for me. [His partner] Benedicto started working for me when he was 22 and 22 years later, he is still with us. He is the nicest, most loyal man you could ever meet. The special part is, it’s not all about us, it’s more about him. This is the American dream.”

When Holmes picked out the unraced Veronique, none of her foals had made the races. Fast forward to Sept. 2 of this year and her 3-year-old colt Nashville, a $460,000 KEESEP purchase by WinStar and China Horse Club, bursts onto the scene, earning the ‘TDN Rising Star’ nod after an 11 1/2-length demolition of his Saratoga debut.

The bay followed suit with an equally jaw-dropping, 9 3/4-length romp at Keeneland next out Oct. 10. His connections briefly considered the GI Breeders’ Cup Sprint, but opted for a softer spot on the undercard for their lightly raced colt. Nashville made a mockery of the Perryville S., blazing through splits of :21.54 and :43.87 and stopping the clock for six furlongs in a track record-time of 1:07.89, all while appearing to be out for a morning gallop. In comparison, hard-knocking veteran Whitmore’s (Pleasantly Perfect) final time for the six-panel BC Sprint later in the day was 1:08.61.

Veronique’s 2-year-old colt Market Cap (Candy Ride {Arg}) broke his maiden at Laurel Oct. 30, providing another timely update for his dam. She produced a Mastery colt in 2019 and a filly by that sire in 2020. The 9-year-old mare is currently in foal to Collected. @CDeBernardisTDN

Lanni Lands Justify Foal Early

Agent Donato Lanni struck early at Keeneland November Monday to land a $600,0000 colt (hip 21) from the first crop of Triple Crown winner Justify out of the Hunter Valley Farm consignment.

“He’s pretty cool; he looked just like Justify,” said Lanni, who declined to reveal who he had made the purchase for. “We bought him to race… I wanted to buy a nice Justify. He was an amazing racehorse–[this colt] looked just like him.”

Bred by David Fennelly’s Mountmellick Farm, the Feb. 21 foal is a half to SW Supreme Aura (Candy Ride {Arg}) and out of a Mr. Greeley mare, just like GI Kentucky Derby and GI Breeders’ Cup Classic winner Authentic (Into Mischief), who Lanni had a hand in selecting. Dam Groton Circle, who hails from the female family of GSW dirt routers Miss Isella and Sir Cherokee, was acquired for $155,000 at this sale in 2016 while in foal to Liam’s Map.

“I haven’t seen many Justifys, but if they all look like that, it’ll be pretty good,” Lanni said. “He was a cool dude back there; laid back.”

As far as his read on the market coming off a somewhat surprisingly strong sale at Fasig-Tipton the night before, he said: “It was strong yesterday, it’s strong so far today. I don’t know what’s going on… I have no idea what horses are worth anymore. I’m just trying to adapt and figure things out, like we’re all doing.”

@BDiDonatoTDN

Coolmore Strikes for American Pharoah Colt

The Coolmore team struck late in Monday’s first session of the Keeneland November sale to take home a half-brother to multiple Grade I-winning juvenile Jackie’s Warrior (Maclean’s Music) by the farm’s Triple Crown-winning sire American Pharoah (hip 244B) for $600,000.

“He looks fast, he looks really, really fast,” Coolmore’s Adrian Wallace said of the weanling. “Obviously we love Pharoah, we love what he’s done so far. Then you add in that he’s a half to Jackie’s Warrior, who looks like he’s one of the top 2-year-olds in the country. It certainly takes the mystery out of it. But he’s a lovely horse, very well prepared by Beau Lane and his daughter J. B. They do a wonderful job and he looked a picture.”

The weanling was consigned by Beau Lane Bloodstock on behalf of breeders Carlo Vaccarezza and J&J Stables, LLC. He is out of Unicorn Girl, whom the partners claimed for $16,000 in 2013. The 15-year-old mare, in foal to Into Mischief, followed the foal into the sales ring and sold for $850,000 to Arthur Hoyeau. Unicorn Girl’s yearling filly by Candy Ride (Arg) was bought back for $675,000 at last month’s Fasig-Tipton October sale. @JessMartiniTDN

Nice Sale for Hicks on Top Filly

Breeder Judy Hicks celebrated a successful result Monday as her American Pharoah half-sister to GISW Fault (Blame) brought $525,000 from Phil Schoenthal on behalf of Matt Dorman’s Determined Stud. The Feb. 14 foal was consigned by James Keogh’s Grovendale, Agent XVIII, as hip 210.

Hicks had acquired stakes-winning dam Charming N Lovable (Horse Chestnut {SAf}) as a 14-year-old in foal to Runhappy after she RNA’d for $70,000 at the 2017 Keeneland November sale. Fault took the GI Santa Margarita S. the follow season, and Charming N Lovable’s Runhappy colt sold for $230,000 at Fasig-Tipton October last season.

“She was an absolutely fabulous filly to be around,” said Hicks. “She’s out of a very good producing mare who’s back in foal with a full sister to this filly. I really was reluctant to sell her, but I’m not stupid. I’m going to miss her–I get attached to my horses.”

Also half to GSP Betweenhereandcool (Unbridled’s Song) and SP Congenial (Pulpit), hip 210 hails from the female family of this year’s GI Kentucky Derby contestant South Bend (Algorithms) as well as MGISW Bast (Uncle Mo), who sold for $4.2 million in foal to Justify Sunday night at Fasig-Tipton.

“I bought her from Claiborne in foal to Runhappy, and that colt made $230,00,” Hicks confirmed. “Then I bred her to Tapit on a late June cover. She had never missed a year, but she slipped, but that was probably a good thing, as she’s getting quite a bit of age on her now. This is her first filly back, and it’s an early foal. We’re probably going to breed her back to Nyquist.”

Determined Stud was involved with four purchases for $2,125,000 at Fasig, and picked up another seven head Monday (four mares, three weanling fillies) for a combined $2,260,000. For more, see Dorman Broodmare Band Off to Fast Start.  —@BDiDonatoTDN

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Concrete Rose Tops Keeneland November’s Opening Session At $1.95 Million

Larry Best's OXO Equine paid $1.95 million for Grade 1 winner and millionaire Concrete Rose and $1.9 million for Indian Miss, the dam of champion Mitole who is in foal to Into Mischief, to acquire the two most expensive horses sold during a day of strong trade at Monday's Book 1 opening session of the Keeneland November Breeding Stock Sale.

With a total of six purchases for $5,015,000, Best led all buyers for the session.

Keeneland sold 128 horses on Monday for $49,775,000, for an average of $388,867 and a median of $280,000. Eight horses brought $1 million or more.

“Overall, we are really happy with how the day went,” Keeneland President-Elect and Interim Head of Sales Shannon Arvin said, noting that the energy created by this weekend's Breeders' Cup World Championships at Keeneland carried over to the November Sale. “It was a solid day of trade. We were pleased with the broad domestic and international participation. Japanese buyers bought three of the day's top-priced horses.”

Online bidding continued to gain popularity with buyers. During today's session, 62 bids were placed via the internet, resulting in nine purchases, one of them for seven figures, and gross sales of more than $6 million.

“It was very good to see the different platforms we put out there – internet bidding, phone bidding and the three different bidding areas on the sales grounds – were well utilized today,” Keeneland Director of Sales Operations Geoffrey Russell said. “One of the benefits of internet bidding is that the principal is back in control; they may go a little further than the agent would have been authorized to go. It's a different way of doing commerce in 2020, but we're all learning how to play with technology and get the best benefit out of it.”

Concrete Rose, a 4-year-old daughter of Twirling Candy out of Solerina, by Powerscourt (GB), was consigned as a racing or broodmare prospect by Lane's End, agent for Ashbrook Farm and BBN Racing. Trained by Rusty Arnold, Concrete Rose won six of seven starts, including the Grade 1 Belmont Oaks Invitational, G2 JPMorgan Chase Jessamine, G3 Edgewood Presented by Forcht Bank and G3 Florida Oaks, and earned $1.2 million.

“I didn't want to go quite that high, but honestly I didn't think I'd touch her below $2 million,” Best said about the purchase. “She's a beautiful horse and you can't take away that record from her. I'm just thrilled to have her. I have admired Concrete Rose for a long time. I have a multiple Grade 1 winner, Cambier Parc, and Concrete Rose beat her and I said, 'Wow, what a horse.'”

Indian Miss, an 11-year-old daughter of Indian Charlie, was consigned by Hill 'n' Dale Sales Agency, agent. Best said he planned to breed Indian Miss to Instagrand, a son of Into Mischief he raced to a Grade 2 win and a Grade 1 placing. Instagrand enters stud in 2021.

“That's my strategy: Try to get Instagrand going, and hopefully we'll get a nice Into Mischief foal, too,” Best said.

Narvick International paid $1.85 million for Cherokee Maiden, a 3-year-old daughter of Distorted Humor from the family of 2020 Japanese Triple Crown winner Contrail and Saturday's TVG Breeders' Cup Juvenile Presented by Thoroughbred Aftercare Alliance winner Essential Quality. Consigned by Bedouin Bloodstock, agent, as a racing or broodmare prospect, Cherokee Maiden is out of champion Folklore, by Tiznow.

In the day's highest price for an internet sale, K I Farm purchased Grade 1 winner Ollie's Candy, who ran in Saturday's Breeders' Cup Distaff, for $1.65 million. Taylor Made Sales Agency, agent, consigned the 5-year-old daughter of Candy Ride (ARG), who was cataloged as a racing or broodmare prospect.

“I thought she would bring that with the way the market has been going on high-end mares,” said Mark Taylor, Taylor's Made's Vice President of Marketing and Public Sales Operations. “She was only about 3 lengths off winning three additional three Grade 1 (races). If she had won a couple more that she had rough trips in, she could have brought twice that.”

Ollie's Candy was cataloged to last year's November Sale but was withdrawn from the sale and resumed her racing career in 2020. She ran in six graded stakes this year and placed in seven of them, including Keeneland's G1 Juddmonte Spinster.

“(Breeders and owners Paul Eggert and Karen Eggert) got to have a whole other year of racing her, and you can't put a price on that,” Taylor said. “For them, it was definitely the best decision.”

With sales of $9.61 million for 29 horses, Taylor Made was the session's leading consignor.

Taylor Made also consigned Grade 1 winner Lady Prancealot (IRE), who sold for $1.6 million to Shadai Farm of Japan. Fourth in Saturday's Maker's Mark Breeders' Cup Filly and Mare Turf, the 4-year-old daughter of Sir Prancealot (IRE) was cataloged as a racing or broodmare prospect.

“I think we were expecting a strong showing today, and $1.6 million was a great result for everybody,” said Phillip Shelton, Racing Manager of co-owner Medallion Racing. “She's a 4-year-old and there is blue sky ahead. (Shadai is) going to breed her. If we couldn't get it done, we were happy to take her back and run her. We have to thank all of our partners for putting their faith in us.”

Two in-foal broodmares sold for $1.5 million apiece.

Spendthrift Farm purchased the first, Canadian champion and millionaire Holy Helena, who is carrying her first foal by Quality Road. Hidden Brook, agent, consigned the 6-year-old daughter of Ghostzapper who is a half-sister to Grade 2 winner Holy Boss.

Stonestreet Thoroughbred Holdings paid $1.5 million for Houtzen (AUS), a multiple group stakes winner in Australia. A 6-year-old daughter of Australian sire I Am Invincible, the mare is carrying her first foal by Curlin. She was consigned by Woods Edge Farm, agent.

“She was a really brilliant 2-year-old in Australia – super fast,” Barbara Banke of Stonestreet said. “She was in foal to my favorite stallion, so what is not to like?”

Claiborne Farm, agent, paid $1 million for the racing or broodmare prospect Gingham. Consigned by Brookdale Sales, agent, Gingham is a stakes-winning 3-year-old daughter of Quality Road out of the Pulpit mare Chapel. The Grade 2-placed filly is from the family of Grade 2 winner Owsley.

Two weanlings sold for $600,000 to lead the session.

The first is a colt from the first crop of undefeated 2018 Triple Crown winner Justify who sold to Donato Lanni, agent. Consigned by Hunter Valley Farm, agent, he is out of the Mr. Greeley mare Groton Circle and is a half-brother to stakes winner Supreme Aura. The colt is from the family of Grade 2 winners Miss Isella and Sir Cherokee.

“He's pretty cool; he looked just like Justify,” Lanni said. “We bought him to race; I wanted to buy a nice Justify. He was an amazing racehorse. (The weanling) looked just like him.”

M.V. Magnier paid $600,000 for a son of American Pharoah who is a half-brother to multiple Grade 1-winning juvenile Jackie's Warrior. Beau Lane Bloodstock, agent, consigned the colt, who is out of Unicorn Girl, by A. P. Five Hundred.

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Analysis: Declines At Keeneland September Came From The Top Down

Given the amount of uncertainty surrounding the world's economy, and the microcosm of it that is the Thoroughbred marketplace, the 2020 renewal of the Keeneland September Yearling Sale had the widest range of plausible outcomes of any major North American sale in recent memory.

In a best-case scenario, the market hunkers down and keeps up the momentum that has repeatedly set records over the past decade, looking ahead to a future when the horses in the ring are running or breeding, and COVID-19 is hopefully in the books.

In a worst-case scenario, a marketplace already showing signs of being wobbly at the wheels before the pandemic gets abandoned by everyone but the most financially secure, and the bottom drops out before the sale even reaches its second week, bringing back that sinking feeling from the crash of the late 2000s.

What actually transpired was a little bit of both.

The numbers were down across the board, as expected, and someone seeking reasons for long-term concern would have no trouble finding them. The market was polarized to an even greater degree than the already fickle previous years, as evidenced by this year's higher buyback rate, and the overall number of horses sold versus the number cataloged.

However, that polarization also meant the pockets of the market where buyers retreated remained solid-to-strong. The number of seven-figure horses (15) was still the fourth-highest since the bottoming-out of 2010, and comments from both buyers and sellers noted that bidding remained competitive into the later books for the horses that were coveted by that section of the market. This wasn't a callback to the desperate times of the recession when nobody was spending money, but the people that have the money were spending it differently and more carefully.

If your horse had the right pedigree and physical for its spot in the catalog, chances were good it was met with a fair price. Anything less had some hard truths to face, and this dictated the narrative for the sale from the first session.

“I didn't really want to be right, but we expected the market to be down about 30 percent overall, and I think that's about what happened,” said Meg Levy of Bluewater Sales. “It seemed to be all or nothing. I saw more polarization than there has been. I saw big, special, physical colts tend to sell better than fillies overall. Even people with smaller budgets, the target has gotten a lot smaller as far as what everyone's looking for. Whether they have a million dollars or $100,000, they're looking for the same individual.”

This year's 12-day Keeneland September sale finished with 2,346 horses sold for revenues of $238,454,300, down 36 percent from last year's gross of $372,348,400 from 2,974 horses sold.The average and median sale prices were each down 19 percent to $101,643 and $37,000, respectively.

This year's gross marked the lowest return since 2012, when 1,362 yearlings sold for $226,667,500.

It was also the sharpest single-year decline in gross since the drop from 2008 to 2009, when revenues fell 39.6 percent, from $327,199,100 in 2008 to $198,055,200 the following year. The stock market crash of 2008 happened in the middle of that year's sale, and the full effect of the economic recession was felt the following year.

The bulk figures also took a hit in terms of the horses that sold and didn't sell. The RNA rate finished at 29 percent compared with 24 percent last year. Combining outs and RNAs, 42 percent of the horses cataloged in this year's sale did not change hands either in the ring or privately afterward. In 2019, that figure was 36 percent.

The attrition rate is often rather high in the later books, when sellers look at their non-commercial horses and decide to leave them on the farm. One thing that stood out about this year's sale was the “not sold” rate in the select Book 1. Of the 448 horses cataloged over the two-day portion, 49 percent of them were either scratched or didn't meet their reserve, with no private sale recorded thus far on the Keeneland website. Last year's first book, spanning three sessions, only saw 35 percent of its 569 cataloged offerings fail to change hands.

There are plenty of reasons for this shift in the upper marketplace, beyond the obvious ones surrounding the economy and the pandemic.

Sheikh Mohammed Al-Maktoum of Godolphin, a driver of commerce at the top of the market, was absent in person and on the buyer line at this year's sale. Shadwell Estate Co., owned by Sheikh Hamdan Al-Maktoum, was present, and it secured one seven-figure horse, but the operation did not buy with its usual high-end vigor seen in previous years.

Among the big-time buyers that remained, many elected to team up on big horses, instead of fighting amongst themselves. The $2-million sale-topper by Tapit was purchased by Eclipse Thoroughbred Partners, Robert LaPenta, Gainesway, and Winchell Thoroughbreds, while breeder Stonestreet Farm remained in for a piece after the sale. Earlier, the team of Mike Repole, St. Elias Stable, Gainesway, John Oxley, and Grandview went in together on a $1.2-million Curlin colt.

When a quintet of buyers who are typically reliable competitors from the $250,000-to-$1 million range pool their resources on one horse to the tune of $400,000 each for the $2-million topper – assuming the horse is divided evenly five ways – this leaves potential gaps a rung or two down the ladder on the buyer line. The aforementioned purchases alone turned 10 potential upper-level transactions into two.

This ripple effect was felt all the way into the middle books, when it came to how many hands were going up for horses, and whose hands they were.

“In years past, I might have been on six, seven, eight [horses] before I got one,” said bloodstock agent Marc Wampler, who started shopping in Book 3 for Pocket Aces Racing. “I was going up there and I knew I might not even get my hand up, but I'd eventually get something done. It was probably two or three horses this year.”

Wampler landed two first-crop yearlings for Pocket Aces at this year's Keeneland September sale for a total of $45,000. In previous years, he said either of his purchases could have commanded that amount on their own. With that being said, he felt he'd benefitted from a market that turned cold on a rapidly-expanding group of “have nots.” If there's competition, it will be fierce and deep-pocketed. If there's not, bargains are there to be had.

“On the nice ones, you've just got no hope on them,” he said. “We go up there with a budget, thinking we'll spend X-amount of dollars on certain horses, and we feel like the competition, they just don't even have a budget. They're just going to go get the horse. We all land on the same horses, and that's what we're up against. I've got a cap where other people have the mentality of, 'Whatever it costs, we're bringing it home.'”

Book 1 took some of the sale's steepest dives in terms of average and median sale prices, and that's significant given how much of the sale's overall returns are dictated by those opening sessions. However, the rank-and-file of the catalog held surprisingly steady.

Of the six sessions that comprise Books 4 through 6, four of them posted gains in average sale price and three showed increases in median sale price.

“The second week has been a lot stronger than I'd anticipated,” said Geoffrey Russell, Keeneland's director of sales operations. “I think Books 3, 4, and 5, even into 6, the market has held up well.”

Russell speculated the reason for the relatively solid mid-to-low-end market had to do with the intention of the purchase. A horse bought in the opening sessions is done with residual value in mind, eyeing big returns as a stallion or broodmare prospect that would be almost impossible to recoup strictly on the racetrack. With a lower entry point comes a lower threshold to make money.

On the other side of the transaction, blue-collar breeders and sellers might not have the means to hang on to a horse and race them if the price isn't right in the ring, forcing their hand to move the product and set a lower reserve, even if it's not at the margin they'd like.

“At a certain price, a horse has great value in its return on investment,” Russell said. “Racing is doing well, purse structures are doing well, so there is potential to get a good return. In the middle markets, they're really buying the product to race and get a return on the investment. I think at the moment, we can still do that on the racetrack.”

Even in that level of the market, though, the margin for error in the eyes of the buyer was slim, especially for the pinhook contingent. The group had to reload for whatever 2021 might bring after a 2020 juvenile sale calendar that saw myriad cancellations, postponements, and gnashed teeth due to COVID-19, while also getting into the mind of what a buyer in next year's murky climate might want.

“There's less money in circulation,” said Kip Elser of Kirkwood Stables. “The perceived top on any given day held up very well. It was a real struggle for some farmers to sell their crop, and it was as picky as the market has gotten. It was very difficult for pinhookers to buy horses that a couple years ago, you might have been able to take a little bit of a fault here and a fault there, but pinhookers have to buy looking at the next buyer's criteria, and that has narrowed the field again. There are plenty of good horses with a minor fault here or that that did not reach full value that will be successful racehorses.”

For many at the sale, it seemed as though success came on a case-by-case basis. The numbers were down, but there were victories in some unexpected places that carried at least a few of the defeats.

When the yearling market was watching the juvenile market try to navigate this summer's uncharted waters, anything on the spectrum of expectations for the fall seemed both far-flung and realistic. Even in a market as volatile as it's been in a decade, there was still a mild sense of relief that horses were being traded at all.

“I think if we knew now what we didn't know three weeks ago, that it's going to be off that amount, I think we would have signed up for it all day long,” said Zach Madden of Buckland Sales Agency. “Especially in June and July, when COVID was going nuts, and everything else going on just rolled into one. I don't know how everyone else feels, but I just feel fortunate to be over here, and not just pounding my head against the pavement.”

History has proven that the market is cyclical, and with such a sudden and unexpected shot across the bow like COVID-19 and its complications, it's hard to determine just what the ramifications of the past two weeks will be. A quick and effective vaccine and a steady economy might make this a brief hiccup, or it might be the tipping point for a full-blown market downturn regardless of the world's situation. Or, like this year's sale, it might be a little bit of it all.

Until there's a solid answer, most will remain in a holding pattern.

“I don't think pinhookers have as much money to spend or as much confidence in what next year's market is going to be,” Elser said. “I think if there was real confidence in next year's market, they would have found the money in some fashion, but I don't see brimming confidence in next year. I don't think anybody's predicting disaster, but I don't think people are predicting a big, huge rebound. I think we'll probably hit bottom and start incrementally growing again.”

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Online Bidding Gets Positive Reviews At Keeneland September Sale

Buying things online has become a part of our lives more than ever over the past decade, especially in the isolated time of COVID-19. Like many of its contemporaries earlier this year, Keeneland featured internet bidding during a live auction for the first time at this year's September Yearling Sale, and its effect on the sale's ecosystem was significant.

Over the auction's 12 sessions, a total of 1,857 internet bids were placed, with 126 successful purchases and revenues of $12,165,900. Had the online purchases been broken out into its own session of the sale, it would have grossed more than the final three sessions of this year's auction combined.

“Anytime you try something new, we held our breath a little bit to be sure the technology would work, and we were very happy with our technology partner on that,” said Shannon Arvin, Keeneland's President-Elect and Interim Head of Sales. “We felt like that went just as smoothly as we could have ever hoped. The participation was really significant.”

Like Ocala Breeders' Sales Co., Keeneland called on Xcira, an online auction technology company based in Tampa, Fla., to help bring the bidding into the digital age.

Online bidding gained steam as the auction went on, with nine total successful purchases over the two sessions of Book 1, and a high-water mark of 34 during the two-day Book 5, including 19 during the book's first session. The closing two days of Book 6 saw 29 horses change hands over online bidding.

The most active day for bidding was the second session of Book 4, which saw 213 bids placed online.

Though most of the online transactions were made for the later-book horses, buyers weren't afraid to spend big without being there to raise their hands themselves. Internet bidders in Book 1 accounted for a combined $4,795,000, led by Hip 410, a Tapit colt out of Breeders' Cup Distaff winner Stopchargingmaria, who sold to Japan's Yuji Hasegawa for $825,000. Hasegawa also bought a first-crop Arrogate colt for $750,000 using the online bidding platform.

“On those kind of horses, they had people on the grounds looking at the horse for them and doing all the vet work,” said Geoffrey Russell, Keeneland's director of sales operations. “It really was just the principal at the end making the decision, which we like the principals making those decisions.”

Hasegawa bidding from Japan was the highlight of the online transactions, but successful web bids also came from 17 U.S. states, the United Kingdom, Canada, and Spain.

The September Sale was the first live run for online bidding in a Keeneland auction, after the company offered an online-only racing-age sale in June. Keeneland has also conducted simulated auctions with potential buyers to acclimate them to the system and work out any potential bugs.

“Obviously, you're going to have a learning curve, but I think they did a good job putting out a trial run what that digital racing-age sale they had,” said Zach Madden of consignor Buckland Sales Agency. “Throughout the globe, people say they're buying a ton of horses online in Asia and Australia, but they've also been doing it for 10 years.”

Madden said four of the 12 horses he offered in Book 5 sold to online bidders, and the clientele was diverse, from people he'd never seen before the transaction to buyers who scouted the horses out themselves and simply decided to bid somewhere other than under a spotter.

“That was a good surprise for me,” Madden said. “I had a guy come by the barn yesterday who I'd never seen in my life who said, 'I bought this horse for $10,000 online. Is she sweet?' That never happens. It's helping horses get moved.”

The online component has also changed the way Madden has marketed his horses.

Because the buyers can come from anywhere now, and without warning, Madden said he fielded more personal requests for information on his offerings during this year's sale. In the future, Madden said he planned to do even more to get his horses into the digital space to entice anyone that might decide to forego the sale ring experience for something a little closer to home.

“I've gotten a lot of 'Hey Zach, will you send me a picture or video?'” he said. “We stopped doing the walking videos (for the Keeneland website) after Book 3, but any little arrow in your quiver you can have to throw at this thing has helped.”

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