Geoffrey Russell | Horse Racing Free Tips

KEESEP in the Books, but Numbers Slide as Expected

While there were bright spots and plenty of successes, Keeneland’s bellweather September Yearling Sale saw significant drop-offs in trade from last year’s strong renewal as the Thoroughbred industry and world at large reel from the impact of the COVID-19 pandemic.

Conducted over 12 days this year compared to 13 last term and with strict safety protocols in place, the 2020 September sale grossed $238,454,300 from 2,346 head sold. The gross 12 months ago was $359,789,700 from 2,850 sellers. This year’s average dipped 19.49% from $126,242 to $101,643; the median dropped 18.68% from $45,500 to $37,000.

The buy-back rate was 29.29% this year and 24.24% in 2019. Outs were higher this time as well from a smaller catalog (954, or 22.3% of the catalog vs. 882, 19%).

“The September Sale can be measured as a success given that in these uncertain times, the market proved there is still tremendous interest and money for quality racehorses at all levels,” Keeneland President and CEO Bill Thomason said.

Keeneland President-Elect and Interim Head of Sales Shannon Arvin added, “Everyone who participated should be applauded for their unprecedented efforts to make this market a reality. Keeneland is fortunate, in the midst of a pandemic, to be able to not only hold the September Sale but do so on its originally scheduled dates. I’m so proud of the Keeneland team who, immediately after the Spring Meet was canceled and the lockdown in Kentucky was announced in mid-March, began collaborating with state and local health officials, breeders, consignors, buyers and others in the Thoroughbred industry, to plan for the September Sale even as the landscape changed almost daily. The success of this sale is a testament to the cooperation among everyone involved and the resiliency of our industry.”

The sale topper was a $2-million Tapit colt out of GISW and ‘TDN Rising Star’ Tara’s Tango (Unbridled’s Song) purchased during Book 1 last Monday for $2 million by a powerful partnership consisting of Eclipse Thoroughbred Partners, Bob LaPenta, Gainesway Farm and Winchell Thoroughbreds. He was consigned as hip 435 by Eaton Sales on behalf of Barbara Banke’s Stonestreet Bred & Raised, which sold 30 horses for $9,911,000 through a variety of consignors.

There were a total of 15 seven-figure transactions compared to 22 last year, when a regally bred American Pharoah half-sister to Into Mischief, Beholder and Mendelssohn brought $8.2 million.

Among the positive 2020 takeaways was that the 15 million-plus sellers were bought by 14 different, mostly domestic entities, including some relatively new top-of-the market players who stepped in to fill the void left by the absence of Godolphin and relative quietness of Shadwell and the Coolmore contingent.

After a digital sale next week, Keeneland will shift its focus to its fall meet, then hosting a no-fans Breeders’ Cup Nov. 6 and 7, immediately followed by its November Breeding Stock Sale beginning Nov. 9.

“Given what we know today, we would anticipate that we will still be working under those same protocols [in November] that we’ve been working under in September,” Arvin noted.

Keeneland’s Director of Sales Operations Geoffrey Russell added, “The November sale will be 10 days–it has been reduced by about a book this year, which we had anticipated going in. The difference between the September sale and the November sale is that the September sale [offerings are] the crop, and the November sale [offerings are] the factory. Breeders can retain their mares and weanlings and hope that 2021 will be a better market to offer that weanling as a yearling.”

Visit www.keeneland.com for more information.

Partnerships Step in As International Players Quiet

While Sheikh Mohammed’s Godolphin and Sheikh Hamdan’s Shadwell Estate Company, Ltd. were first and second-leading buyers at the 2018 and 2019 September sales, the 2020 renewal saw different entities–and particularly partnerships–making the largest expenditures. Godolphin did not make a single purchase this September (vs. 10 buys for $16 million 12 months ago), and Shadwell spent $5,420,000 on nine buys compared to $11,070,000 on twice as many head in 2019.

“There were certain major players that weren’t playing in the market this year, and obviously that had a huge impact on Book 1,” Russell said. “We had been given an indication prior to the sale that Godolphin wouldn’t be playing at the level that they had been playing at last year.”

Meanwhile, “The Avengers”–the stallion-making group consisting of SF Racing, Starlight Racing, Madaket Stables and others–made the most purchases of any one entity, with 28 for a gross of $11.25 million. The conglomerate was responsible for purchasing GI Kentucky Derby winner Authentic (Into Mischief) for $350,000 at the 2018 September sale.

Agent Donato Lanni, representative for the Avengers and known for his close association with Hall of Fame trainer Bob Baffert, signed for a total of 33 purchases for $12,732,000.

While the bulk of purchases by the Avengers will eventually be heading to Baffert in California, an East Coast counterpart emerged this year, as Todd Pletcher clients Repole Stables and St Elias Stable took home 15 head for $6,380,000.

Mike Repole and Vinnie Viola’s stables co-campaigned last year’s GI Breeders’ Cup Classic winner Vino Rosso (Curlin), who was a $410,000 September grad himself.

“For that group of sought-after horses that several people might land on, I thought it was very strong. Just like any sale in the past, if you brought a really nice horse, you got rewarded,” said agent Conor Foley, whose Oracle Bloodstock was involved in 24 purchases for $3,673,500, ranging from $1.1 million down to $1,500. “It felt competitive–it probably would’ve been an unbelievable, off-the-charts sale if foreign buyers had been allowed. I thought it was competitive all the way through. I think that shows strength and belief in our industry, as 2020 has changed everything.”

Taylor Made Top Consignor Once Again

Taylor Made Sales Agency took up its usual spot as the leading September consignor by gross, selling 252 horses for $29,783,400 at an average of $118,188. Unsurprisingly, its overall numbers followed the same trends as the market at large. Last September, Taylor Made sold 307 head for $42,650,900.

When reached for comment midday Friday, breeder and consignor Carrie Brogden–formerly of Select Sales and selling for the first September under her family’s Machmer Hall banner–admitted that, despite some solid results for her own offerings including a $1.025 million Into Mischief filly (hip 405), it was difficult not to be somewhat discouraged by the statistics and current industry landscape. She specifically cited the front page of Friday’s TDN, which featured Sid Fernando’s Taking Stock column on the left (see Keeneland Numbers are Troubling) and Kentucky Supreme Court Ruling Could Put End to Historical Racing on the right.

“Our farm was really lucky–we had some homebreds who hit all the targets,” she said. “But, of the homebreds I had who didn’t hit the target, they sold. If I didn’t want to go through the 2-year-old sale or bring them home to race, I put them through with no reserve… When I’m putting these yearlings through with no reserve, it’s because in the back of my mind I’m thinking, ‘Okay, from the September sale to the 2-year-old sale in April–as long as I still have them–it’s going to run about $30,000. Do I want to put that much more into this horse to find out if he’s fast or slow or sound or unsound?’ If I have questions myself, I’m probably going to let someone else find out.”

Brogden said she expects more of the same heading into the final yearling sales of the season and the breeding stock auctions beginning in November.

“It’s a domino effect,” she said. “The 2-year-old pinhookers got crucified [in the spring], then it’s the [weanling to yearling] pinhookers who got crucified. Then it’s the breeders. Then, it’s coupled with the fact that we have no unity in our industry–it’s a perfect storm. The foal crop [will be down 7.3% for 2021], and it’s going do be down another 20% in record time. Until we get together and have a unified voice, it’s going to be more of the same… Our sport is being fractured left and right, and then when you put the economic part on to a fractured organization, it just slowly chips away at everything. People always say the same thing–everyone fights over the same shrinking piece of pie–and that’s exactly right.”

Into Mischief in Huge Demand

Spendthrift super sire Into Mischief has been responsible for plenty of high-dollar yearlings and 2-year-olds in the past, but 2020 has seen demand for his progeny reach another stratosphere. The nation’s leading sire, represented by the likes of aforementioned Derby winner Authentic and brilliant MGISW sophomore filly Gamine, started off yearling season with 17 sellers at the Fasig-Tipton Selected Yearlings Showcase grossing $6,745,000 ($396,745 average). His 57 yearlings to sell at Keeneland racked up receipts of $25,401,000–more than double the next sire–and his average of $445,632 was behind only that of Medaglia d’Oro (18 sold for $10,795,000 at an average of $599,722).

Online Bidding and Other Protocols Deemed Successful

Keeneland, in conjunction with Fasig-Tipton, introduced a series of protocols and policies for the September sale to increase safety and promote social distancing, including limiting attendance, adding bid spotters in the show barn, increased capacity for phone bids and the offering online bidding.

For the sale, Keeneland received 1,857 bids on the internet and sold 126 horses electronically for gross receipts of $12,165,900. The top-priced horse to sell online was an $825,000 Tapit–Stopchargingmaria colt (hip 410) purchased by Japan’s Yuji Hasegawa out of the Gainesway draft.

“Any time you try something new–we held our breath a little bit to be sure the technology would work,” Arvin said. “We really were very happy with our technology partner on that, Xcira, it felt like all of that went just as smoothly as we could ever have hoped. The participation was really significant.”

Russell added, “The whole experience we had through these last two weeks with having three different bidding areas on the sales grounds; having telephone bidding; having internet bidding, we threw everything at it. It was very well received by everybody. Having three bidding sections here, and on the internet, probably slowed down the sale a little bit more than we would probably like, but the buyers were happy to stay [later] and buy, and that’s what we’re here for.”

Among the buyers active on the internet was the Green family’s D.J. Stable, which signed for 12 head for $1,975,000.

“I thought the bidding process was relatively seamless,” said D.J.’s Jon Green, who placed his bids at home in New Jersey while relying on agents on the grounds for physical inspections. “Certainly, when we were interested in bidding on a horses, the bid was accepted and I won’t say it was exactly like being in the pavilion–there’s a certain energy you miss out on by being 1000 miles away, online–but as far as the process of bidding, having the bid accepted and ultimately buying horse, it was as close to buying the horse in person as it could be.”

D.J. bought five horses who RNA’d in the ring.

“For the most part, once a horse went through the ring and didn’t bring the reserve–especially earlier in the sale–I think the consignors and sellers were much more readily interested in negotiating and working out a sale,” Green noted. “I think as the sale went on, consignors and sellers did a much better job of reacting to the marketplace and lowering reserves.”

Cupid Colt Tops Final Session

A colt from the first crop of GISW Cupid topped Friday’s final KEESEP session on a winning bid of $45,000 from Scott Gelnger, agent. The son of MGSP turfer Long Approach (Broad Brush) was consigned to the sale by his breeder, Stonehaven Steadings, as hip 4116.

A total of 167 yearlings changed hands on the sale’s final day for $1,163,400 in gross receipts at an average of $6,884 and median of $4,500. The RNA rate was 11.5%.

What They’re Saying

“I’m just happy that the sale was able to be completed. I’m blown away day by day by the amazing horsemanship of the grooms and the show men and show women–it’s inspiring. Without them, the sale wouldn’t go on.” —Conor Foley, Oracle Bloodstock

“It’s a really good crop of yearlings, by some young and exciting stallions. For the pinhookers, they have no choice–they have to play in Books 3, 4 and 5 [and look for] good physicals, by commercially viable stallions that look to have bright futures… They probably weren’t so comfortable in Books 1 and 2 as they have been in years past just because of how tough it was at the 2-year-old sales this year.” —Keeneland Director of Sales Development Mark Maronde

“Because of COVID, there was a lot of uncertainty–not just in the Thoroughbred market, but in everything. After COVID really took hold in April, we adjusted our projections on what we thought our yearlings would bring. Fortunately, we had a great sale. We’ve not only exceeded our revised projections but we’ve exceeded our original projections.” —Tom Hinkle, Hinkle Farms

“I think that there’s definitely value in the older stallions. People get very excited about the newest sires and the top freshmen. Personally, I was surprised that so many new sires were producing higher-than-average sales when there were very viable, proven stallions like Bernardini and Hard Spun–basically every older stallion besides Into Mischief–where you could find value in their yearlings… There was a value play for the tried-and-true sires who had 40 or 50 horses in the sale and you could pick up some of them at a much more reasonable price.” —Jon Green, D.J. Stable

“I definitely think with the vetting, sesamoiditis was viewed even more harshly than it ever has been. But, the buyers are getting very sophisticated now, where they’re doing scanning a lot more scanning of sesamoiditis. I think that they’re learning that that is a good way to identify a horse who’s either going to have a problem or not have a problem.” –Carrie Brogden, Machmer Hall

The post KEESEP in the Books, but Numbers Slide as Expected appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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Keeneland September Yearling Sale Concludes With Positive Trade, Resilient Market

Keeneland's September Yearling Sale, held with extensive COVID-19 protocols to create the safest environment possible for participants, ended today with solid results generated by competitive trade throughout the 12-day auction and the sale of 15 yearlings for $1 million or more, led by a $2 million colt by leading sire Tapit.

“The September Sale can be measured as a success given that in these uncertain times the market proved there is still tremendous interest and money for quality racehorses at all levels,” Keeneland President and CEO Bill Thomason said. “Everyone who participated should be applauded for their unprecedented efforts to make this market a reality.”

The September Sale is a bellwether for the global Thoroughbred industry and a significant economic driver for Central Kentucky breeders.

“Keeneland is fortunate, in the midst of a pandemic, to be able to not only hold the September Sale but do so on its originally scheduled dates,” Keeneland President-Elect and Interim Head of Sales Shannon Arvin said. “I'm so proud of the Keeneland team who, immediately after the Spring Meet was canceled and the lockdown in Kentucky was announced in mid-March, began collaborating with state and local health officials, breeders, consignors, buyers and others in the Thoroughbred industry, to plan for the September Sale even as the landscape changed almost daily. The success of this sale is a testament to the cooperation among everyone involved and the resiliency of our industry.”

Among the health and safety protocols implemented for the September Sale by Keeneland were the requirements that people who accessed the grounds during the sale be credentialed through the Virtual Badge digital ID and that all Keeneland employees, consignors and their staffs, veterinarians and their staffs, farriers, van representatives and media show proof of a negative COVID-19 test. Everyone entering the Keeneland grounds underwent a daily health screening with a temperature check and questions. Face coverings and social distancing of at least six feet were required, and the Sales Pavilion, including the Sales Arena and Back Holding Ring, had reduced capacity. Nearly all food service moved from the Sales Pavilion to concessions and the Phoenix Room in the track Grandstand.

“Full credit for this year's September Sale goes to everyone – breeders, consignors, owners, buyers, agents, trainers and countless other people – for their cooperation in following the health and safety protocols and adapting to the new forms of buying that allowed us to offer this important market in this unusual time,” Keeneland Director of Sales Operations Geoffrey Russell said. “It certainly wasn't your normal September Sale, and we know it wasn't easy. We sincerely thank all who participated and made the best of the challenging circumstances. We look forward to 2021 and the return of the hustle and bustle.”

For the sale, held Sept. 13-25, Keeneland sold 2,346 yearlings for $238,454,300, for an average of $101,643 and a median of $37,000.

In 2019, the 13-session September Sale was one of the strongest in recent years, with 2,850 horses selling for $359,789,700, for an average of $126,242 and a median of $45,500. Last year Book 1 spanned three days versus two days this year.

“Last year was an incredible market,” Russell said. “Trying to replicate those results, even in a normal year, would have been difficult. No doubt, COVID-19 and the travel restrictions due to the pandemic had a strong impact on some aspects of the market. Certain major players did not take part. However, a deep, diverse buying bench still participated at all levels. It was very rewarding that the second week of the sale was stronger than anticipated.”

Keeneland demonstrated its flexibility by providing a variety of options to allow buyers to participate remotely, headlined by the successful launch of online bidding. Online bidding attracted a total of 1,857 bids, which resulted in the sale of 126 horses for a total of $12,165,900 to buyers in 17 U.S. states, Japan, United Kingdom, Canada and Spain. The highest price recorded online was the $825,000 paid by Yuji Hasegawa for a colt by Tapit out of Breeders' Cup Distaff winner Stopchargingmaria.

“Online bidding worked as smoothly and was as popular among buyers as we had hoped,” Arvin said. “When you try something new, you kind of hold your breath to see how it goes. We are very pleased with our partner, Xcira, and the online auction technology system, as well as the level of participation by buyers.”

Keeneland expanded its phone bidding service to accommodate remote buyers, and to enable greater social distancing, added a third on-site bidding location in the Show Barn, the area just outside the Sales Pavilion where horses begin their journey to the sales ring. The area proved very popular with buyers.

In an effort to deliver more information directly to buyers, Keeneland further enhanced its digital catalog to feature walking videos of yearlings and comments from consignors. Keeneland also offered a list of bloodstock agents who planned to attend the sale and could work with buyers participating remotely.

As in recent years, demand for quality individuals continued to drive the market, and buyers remained highly selective in their quest for Thoroughbred racing prospects.

Proving the diversity of Keeneland's buying bench was the fact that 14 different entities, dominated by domestic buyers, purchased the 15 seven-figure yearlings.

“Breeders are to be commended for bringing a very good crop of yearlings to market,” Keeneland Director of Sales Development Mark Maronde said. “The value found here encouraged strong trade through the entire sale. Horse people are optimists in the best of times, and here they are – while there are no fans at many race tracks and with all the uncertainty in every facet of life – doing more than $238 million worth of commerce. That's huge.”

Tom Hinkle of consignor Hinkle Farms agreed. Hinkle sold all 22 yearlings in its consignment for a total of $3,124,000. They included a $750,000 Arrogate colt purchased on the internet by Hasegawa and a $750,000 Gun Runner filly bought by Robbie Medina, agent.

“Because of COVID, there was a lot of uncertainty – not just in the Thoroughbred market but in everything,” Hinkle said. “After COVID really took hold in April, we adjusted our projections on what we thought our yearlings would bring. Fortunately, we had a great sale. We've not only exceeded our revised projections but we've exceeded our original projections.

“We just sell our own horses, so we look at (sales results) as an aggregate,” he added. “As an aggregate, we've been very pleased.”

The September Sale topper sold on the second day of the two-day Book 1 when the partnership of Eclipse Thoroughbred Partners, Robert LaPenta, Gainesway and Winchell Thoroughbreds paid $2 million for the Tapit colt. Out of Grade 1 winner Tara's Tango, he was consigned by Eaton Sales, agent for Stonestreet Bred & Raised.

Tapit also sired the $1.25 million filly who led the opening session. Claiborne Farm, agent, purchased the daughter of Grade 1 Alabama winner Embellish the Lace, by Super Saver. Consigned by Bluewater Sales, she is from the family of Grade 1 winners Afleet Express and Materiality.

Later sessions showed signs of strength in the market as competitive bidding for premium individuals continued.

“Bidding has been challenging – we have all landed on the same horses on numerous occasions,” said Clay Scherer, who during the fourth session signed the ticket for Flurry Racing Stables to acquire a Speightster half-sister to their September Sale graduate and recent Kentucky Oaks winner, Shedaresthedevil, for $350,000.

Boosting the ninth session was Marsha Naify's purchase of a $500,000 colt by Karakontie consigned by Gainesway, agent. That day, Naify purchased three yearlings through phone bidding.

Overall, the sale's leading buyer was Donato Lanni, agent for SF/Starlight/Madaket. On behalf of the partnership, Lanni purchased 28 colts for $11.25 million. At $775,000, the group's most expensive purchases were sons of Into Mischief and Quality Road.

Other leading buyers who spent more than $3 million were West Bloodstock, agent for Repole Stables and St. Elias Stable; Mike Ryan, agent; Shadwell Estate Company Ltd.; B S W/Crow; Mayberry Farm; Courtlandt Farm; OXO Equine; Maverick Racing and Winchell Thoroughbreds. In addition, MyRacehorse.com, co-owner of Kentucky Derby Presented by Woodford Reserve (G1) winner and September Sale graduate Authentic, purchased 14 yearlings either singly or in partnership with Spendthrift Farm for total expenditures of $3,355,000.

Buyers had an appetite for yearlings by Authentic's sire, Into Mischief, who ranked as the sale's leading sire with 57 horses sold for $25,401,000, for an average of $445,632. Among them were five seven-figure horses, including the $1.9 million top-priced filly during the second session, the $1 million colt who topped the fourth session and the $625,000 colt who led the fifth session.

Larry Best's OXO Equine purchased the $1.9 million filly. Consigned by Taylor Made Sales Agency, agent, she is out of the stakes-winning Medaglia d'Oro mare Taylor S, a half-sister to Grade 1 winner and sire Liam's Map and Grade 3 winner and sire Not This Time.

Medaglia d'Oro was the leading sire by average with 18 yearlings averaging $599,722. He sired four seven-figure horses – all fillies: $1.6 million (sold to Shadwell Estate Company Ltd), $1.4 million (Robbie Medina, agent), $1.1 million (Whisper Hill Farm) and $1.1 million (What Time Is It Racing – Oracle Bloodstock, agent). Horse of the Year Gun Runner was the leading sire among stallions represented by their first yearlings at the auction with total sales of $8.12 million for 32 horses.

Other top-priced horses represented such successful sires as American Pharoah, Curlin, Kitten's Joy, Quality Road, Speightstown, Uncle Mo and War Front. Leading later sessions were progeny of established sire Ghostzapper and such emerging young stallions as Cupid, Karakontie, Mastery, Not This Time, Nyquist, Practical Joke and Unified.

For the sixth year in a row and the 22nd time since 1988, Taylor Made Sales Agency was the September Sale's leading consignor. Taylor Made sold 252 horses for $29,783,400, including the $1.9 million Into Mischief filly.

Meanwhile, using seven consignors, Stonestreet Bred & Raised sold 30 yearlings for $9,911,000. Joining the $2 million sale topper among the Stonestreet horses was the $1 million colt by Into Mischief who was offered by Warrendale Sales and purchased by Peter Leidel to lead the fourth session.

During Friday's final session, 167 yearlings sold for $1,143,000, for an average of $6,844 and a median of $4,500. Stonehaven Steadings consigned the $45,000 high seller, a colt by Cupid purchased by Scott Gelner, agent.

Racing returns to Keeneland on Friday, Oct. 2, opening day of the 17-day Fall Meet and the start of the prestigious Fall Stars Weekend. A total of 10 stakes, including five Grade 1 races, will be run over three days. Nine stakes during Fall Stars Weekend are Breeders' Cup Challenge “Win and You're In” races, which award each winner an automatic and free entry into the World Championships at Keeneland on Nov. 6-7.

Keeneland's November Breeding Stock Sale begins two days later and will run through Nov. 18.

The post Keeneland September Yearling Sale Concludes With Positive Trade, Resilient Market appeared first on Horse Racing News | Paulick Report.

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Late Action As Book 2 Concludes

By Brian DiDonato & Jessica Martini

LEXINGTON, KY–While Thursday’s second and final Book 2 session of the Keeneland September Yearling Sale included some lulls without big-money sellers, it finished strong, with the day’s top two lots coming in the final 20 or so hips.

A colt by the in-demand Into Mischief (hip 1203) was the lone Book 2 offering to reach the seven-figure threshold, selling for an even $1-million to Peter Leidel, who did his bidding on the phone. The son of Grade II winner Teen Pauline (Tapit) was consigned to the sale by Warrendale Sales, agent for Barbara Banke’s Stonestreet Bred & Raised. Stonestreet was also responsible for Book 1’s $2-million Tapit topper.

“It was a very exciting finish today–to have three individuals bidding all the way to the million-dollar mark,” said Keeneland’s Director of Sales Operations Geoffrey Russell. “There was a lot of depth to the market, I thought, today. Again, the comment we’ve made before is that it is very selective. The ones that they align on are bringing great money; the ones that just miss the mark are having a hard time to get sold. It is a very selective market.”

A total of $34,507,000 in trade was done on Thursday from 182 head sold. The average was $176,959 and median was $135,000.

Over the course of four days of selling thus far, $165,853,000 has changed hands on 622 transactions, including 33 post sale. The cumulative average is $266,645 and median is $200,000.

The session RNA rate was 40.18% and overall buy-back rate sits at 38.35%. While year-to-year comparisons remain somewhat difficult due to a difference in format compared to last year (three Book 1 sessions in 2019), the RNA rate remains significantly elevated compared to 2019, when 28.18% of horses were bought back by the end of Book 2.

“A couple of people told me they were happy to take their horses home–they had a Plan B when they came here,” Russell said. “They knew the market was going to be a little off, and they had already planned on Plan B. They brought horses to market hoping to be sold, but if they didn’t, they had other plans in their mind.”

Consignor John Mulholland noted, like many, the particular selectivity of the market: “Chickens or feathers; feast or famine. Everybody’s landing on the same horse, and you’re going to get paid a ton [on those]. If you bring 10 horses, three or four are going to have to carry the load for the rest. That’s the unfortunate state of the market right now. I can think of horses years ago that we brought up here that had one issue after another–whether it be on the X-rays, on the vetting, or some sort of conformational fault; but we’d still get them sold for something decent. That is just kind of gone. If you don’t jump through every hoop, and check every box, forget it. Where we’re at, it’s sad, and I hope we can recover in time. But for me, that’s the reality of it.”

Russell said hopes and expects new money to show up as the sale moves into its final four books.

“The pinhookers haven’t started really playing yet, so we hope that we’ll see them,” he said. “We usually see that in Book 3, when that part of the market starts to develop.”

Russell ended his Thursday evening press briefing with a remembrance of longtime Keeneland auctioneer Cris Caldwell, who lost his battle with pancreatic cancer in May.

“This is the first sale we’ve had without Cris Caldwell, and the amount of consignors and buyers who have come by and commented about it and acknowledged it,” he said. “One guy said to me that he was a great ‘bouncer’–he’d go and bounce ideas off of him and get a value… A lot of people have come up and said that they miss him and wish he was here. It’s quite humbling.”

Leidel Strikes Late for Into Mischief Colt

Peter Leidel, bidding over the phone, made the highest bid of the two-day Book 2 section of the September sale when going to an even $1 million to secure a son of Into Mischief at Keeneland Thursday. The bay colt–the fifth yearling by the Spendthrift stallion to sell for seven figures this week at Keeneland–is out of graded stakes winner Teen Pauline (Tapit). He was consigned by Warrendale Sales as agent for Barbara Banke’s Stonestreet Thoroughbred Holdings.

“He is a lovely horse, ticked all the boxes as they say,” said Warrendale’s Hunter Simms of hip 1203. “He has a great walk. The Into Mischiefs have been on fire at this sale and on the racetrack. The mare was a new track record holder. Stonestreet did a nice job prepping him and he showed himself well at the barn. He is a classy animal.”

Thursday’s session opened with a Stonestreet-bred colt by Into Mischief, consigned by Taylor Made Sales Agency, selling for $675,000 to Shadwell Estate Company Ltd.

“Stonestreet has been very supportive of us over the years and we greatly appreciate it. We have had good success for them,” Simms said.

Through four sessions of the September sale, 45 yearlings by Into Mischief have sold for $23,280,000 and an average of $517,333. Larry Best’s OXO Equine purchased the most expensive offering by the stallion when bidding $1.9 million to acquire a filly from the Taylor Made consignment (hip 438).

Stonestreet purchased Effectual (Carson City), with Teen Pauline in utero, for $475,000 at the 2009 Keeneland November sale. Racing in the Stonestreet colors, the dark bay won the 2014 GII Top Flight H. and was third in the 2012 GI Spinaway S. She is the dam of 3-year-old Cambria (Speightstown), who beat the boys in the Kentucky Downs Juvenile Turf Sprint in 2019.

In partnership with Stonestreet, Leidel campaigned 2017 G1 King’s Stand S. and G1 Darley Prix Morny winner Lady Aurelia (Scat Daddy). Banke purchased the filly for $7.5 million at the 2018 Fasig-Tipton November sale to dissolve the partnership. @JessMartiniTDN

Avengers Step in For ‘Quality’ Colt Late

The stallion-making partnership of SF Racing, Starlight, Madaket, et al, more commonly referred to as “The Avengers” these days after their trainer Bob Baffert coined the nickname, woke up a somewhat sleepy sales pavilion late in Thursday’s session to add another 2022 Classic prospect to their formidable roster.

The Quality Road colt was bred and consigned by Everett Dobson’s Candy Meadows as hip 1197. He cost $775,000.

“He’s a Quality Road–a great stallion,” said SF’s Tom Ryan. “We’re just starting to see the cream rising to the top now with him. Just think of what he’s accomplished already; the future’s so bright for him.”

Quality Road, whose crop of yearlings was bred on a $70,000 fee but who commanded $200,000 for the 2020 breeding season, has had seven KEEESEP sellers bring $500,000 or more. The Avengers bought two other colts in Book 1 (hip 97, $620,000; hip 187, $600,000), and their and Baffert’s agent bought the Lane’s End resident’s priciest seller, a $1-million filly (hip 67).

“A good horse comes in there, and there’s plenty of competition,” Ryan added. “We really felt like we were going to have to reach for this horse, but Bob, Donato, everybody loved him.”

The Avengers, who purchased recent GI Kentucky Derby winner Authentic (Into Mischief) for $350,000 here two years ago, have racked up a tab of $9,825,000 on 22 head so far this September sale.

“It’s been a busy sale for us,” Ryan said. “Keeneland assembled a great group of horses here, and good horses are hard to buy.”

Dobson purchased hip 1197’s dam Sustainable (Forestry) for $200,000 at the 2012 Fasig-Tipton July sale, and raced her under his Cheyenne Stables banner to a couple of stakes placings and nearly $260,000 in earnings. Her 2017 Pioneerof the Nile colt sold for $400,000 here two terms ago and has been working in California towards a debut.

“We’re delighted,” said Candy Meadows’s Matt Lyons after he and Dobson thanked the buyers. “He’s a lovely horse and a homebred for the farm. We raised him all along and he grew up well. We didn’t have any horses in Book 1, so this is our first group here. We’ve waited all day for him, and there were some very good judges of horse flesh on him… The price was comfortably above the reserve. We liked him, but we set a reasonable reserve and let the market take care of it. There are a lot of good judges that vetted the horse. When we walked up here and saw the people bidding on the horse, it was very comforting.”

Lyons echoed the sentiments of many regarding the market: for the lots of perceived highest quality, there’s plenty of money.

“For the special horses like him, I don’t think there is any trouble at all,” Lyons said. “You have groups looking to buy two-turn Derby-type horses and there are a lot of people looking for that type of horse. When they all land on the same one, they can bring an exceptional price. The group that bought him obviously know how to win the big races, so that’s great for us having the mare at home and having siblings coming. Of course he’ll be trained by Mr. Baffert and he knows how to win the big races too, so it’s great.” —@BDiDonatoTDN

Constitution Filly Sells for a ‘Fortune‘

A filly by Constitution sat atop the leaderboard for much of the day Thursday after selling online for $725,000 to agents Alex Solis II and Jason Litt on behalf of the Roth family’s LNJ Foxwoods. The half-sister to last year’s GI Woody Stephens S. winner Hog Creek Hustle (Overanalyze) was consigned to the sale by Kitty Taylor’s Warrendale Sales on behalf of Sandra Sexton and Steven and Brandi Nicholson’s Silver Fern Farm as hip 904.

“She was just beautiful,” Taylor said. “She was vetted a tremendous amount. I sold her for some long-standing clients of mine who are very dear friends, Sandra Sexton and Silver Fern Farm. We sold Hog Creek Hustle and [MSW & GSP] Majestic Dunhill (Majesticperfection). She was vetted so much and handled it so well. She went to a great place with LNJ Foxwoods.”

Sexton and her late husband Hargus and Silver Fern acquired SW and MGSP Ready for Fortune (More Than Ready) while she was carrying a Candy Ride (Arg) filly at the 2010 Keeneland November sale. That filly never made the races, but Majestic Dunhill ($47,000 KEESEP ’16) was her first foal and Hog Creek Hustle ($150,000 KEESEP ’17) was her second foal. Her third foal by Gemologist was just a $4,000 FTKOCT yearling but won on debut as a juvenile in maiden special weight company and took a Churchill allowance.

Thursday’s sale was the first time the ownership group had really been able to cash in on Candy Fortune’s foals’ success, but Taylor said they won’t be selling the factory any time soon.

“They won’t sell the mare; they keep all their mares,” she said. “I had the mare Caroni (Rubiano) for them, [2018 GII Black-Eyed Susan S. winner] Red Ruby (Tiznow) was out of her, but they didn’t sell her, they kept her to race. They just like to build a big, solid broodmare band. Most people that buy to race know them well and they’re very comfortable buying from them.”

Candy Fortune lost her Flatter foal this year and was bred back to Frosted.

Hip 904, meanwhile, is the highest-priced yearling to sell so far this season by leading sophomore Tiz the Law’s red-hot sire Constitution–Solis/Litt also bought his second-most-expensive seller, a $375,000 colt at last week’s Fasig-Tipton Selected Yearlings Showcase. This crop of yearlings was produced before Constitution’s first runners took his status to another level.

“[Hip 904] stood out [among the Constitutions] and that’s what I heard from everybody,” Taylor said. “She vetted and the physical matched. She was one of the better-pedigreed Constitutions. But [the sire] is on his way.” —@BDiDonatoTDN

Shadwell Goes Back for More Mischief

Shadwell Estate Company’s Rick Nichols, who was forced to $700,000 to acquire a colt by Into Mischief Wednesday at Keeneland, was able to get another son of the leading sire for $675,000 early during Thursday’s session of the Keeneland September sale.

“I thought we might have to go a little bit more than that,” Nichols admitted after signing the ticket on hip 880.

Consigned by Taylor Made Sales Agency as agent for his breeder Stonestreet Thoroughbred Holdings, the yearling (hip 880) is out of Bella Jolie (Broken Vow) and is a half-brother to sprint champion Runhappy (Super Saver).

“He’s a very nice colt,” Nichols said. “He’s a half-brother to a good sprinter with good conformation and he looks like he has a really good head on his shoulders. Nice horse.”

Sheikh Hamdan’s Shadwell operation finished third in the Sept. 7 GI Runhappy Hopeful S. with Mutasaabeq, a son of Into Mischie, and Nichols said it was no surprise the stallion’s yearlings have been in demand at the September sales.

“He’s the leading sire in the country,” Nichols said. “We have a really good 2-year-old by him. We really like him.”

Barbara Banke’s Stonestreet operation purchased Bella Jolie, in foal to Cairo Prince, for $1.6 million at the 2015 Keeneland November sale. Her first Stonestreet-bred yearling to sell at auction was an Uncle Mo colt who sold for $500,000 at last year’s September sale.

“We met with the Stonestreet team and they decided to put this horse in Book 2,” explained Taylor Made’s Mark Taylor. “They thought he might stand out a little more here and I think he did. He was head and shoulders above a lot of the other horses we had in this book and the big buyers found him. That was significantly above our reserve. It was a good solid highlight to the day. We may have a couple of more that get there too.”

Nichols came back a few hips later to acquire a colt by Curlin (hip 911), again consigned by Taylor Made on behalf of Stonestreet for $500,000. During Wednesday’s session of the September sale, Nichols paid $800,000 for a colt by Speightstown (hip 559) consigned for Stonestreet by Elm Tree Farm. @JessMartiniTDN

Another Moon for the Lows

Robert and Lawana Low, who had graded success with Magnum Moon, added another son of Malibu Moon to their racing operation when bloodstock agent Jacob West made a final bid of $610,000 for hip 977 in the back show barn. Bred and consigned by Larry Doyle’s KatieRich Farms, the yearling is out of multiple graded placed Fantasy of Flight (Tiznow).

“He was kind of representative of what they look for,” West said of the yearling. “He looks like a big two-turn horse out of a mare who could run by a stallion they love. He vetted clean and was a beautiful specimen.”

West said demand for the top offerings remained strong as the September sale’s Book 2 concluded Thursday.

“It’s been strong for the right ones,” West said. “But we’re inching towards that spot in the sale where I think you are going to see a dramatic drop off. I think it’s slowed down just a little bit. And I think we are inching towards that–I don’t know when it’s coming. I hope not for a long time for the breeders’ sakes, but I think it’s coming.”

KatieRich acquired Fantasy of Flight privately in the midst of a racing career which saw her hit the board in five graded races. She had a Malibu Moon filly sell for $425,000 at the 2018 September sale and a Ghostzapper colt bring $500,000 at the auction last year. @JessMartiniTDN

Cayala Rewards Kingswood Again

Roderick Wachman’s Kingswood Farm and David Egan enjoyed their second consecutive year with high-dollar sale of a son of Into Mischief out of Cayala (Cherokee Run) at Keeneland September. Last year’s colt brought $550,000, and this year’s (hip 912) one-upped his brother at $600,000, selling to GI Kentucky Derby winner Authentic (Into Mischief) co-owners Spendthrift Farm and MyRacehorse.com.

To be fair, though, the 2-year-old likely helped the yearling. Campaigned by Breeze Easy LLC, trained by Wesley Ward and named Roderick, he was a dominant debut winner at Belmont in June before finishing off the board in the GII Best Pal S. at Del Mar. Both colts are full-siblings to GSW One Liner, a $150,000 KEEJAN ’15 seller.

“It was a fantastic price; the [reserve] was way before that,” Wachman said. “He was a nice horse, so happy days. I hope they are very lucky with him. The mare and the stallion [together] have been very good to me. We bred all the foals. We bought the mare as a maiden [at Tattersalls December 2011 for $27,559].”

Cayala, who hails from the family of Grade I winners and sires Albertus Maximus and Daredevil, was bought back for just $52,000 at the 2013 Keeneland November sale while carrying One Liner.

“As you would expect, a lot of people have not traveled so, while we have lots of agents, the principals are not here,” Wachman said of the market. “When principals are not here, agents are a little more risk-averse because the person isn’t giving them a push.” —@BDiDonatoTDN

New High Water Mark for Lord Nelson

Spendthrift Farm freshman Lord Nelson (Pulpit) achieved his highest auction price to date Thursday when a half-brother to 2018 GII Remsen S. hero Maximus Mischief (Into Mischief)–now a Spendthrift resident himself–brought $460,000 from Frank Fletcher Racing and Ten Strike Racing. The strapping Apr. 3 foal was consigned to the sale as hip 1136 by his breeders, Mulholland Springs.

“I really felt like he was something fantastic,” John Mulholland said. “Like with most nice horses, you know they’re nice as soon as they’re foaled. He reminded me a lot of Maximus Mischief, and that’s because the mare throws a lot of herself into her foals. This one reminded me a lot of Max himself, and obviously it was a huge [for the pedigree] with him winning the graded stake and all of that. [Hip 1136] is exactly what you’re hoping for when you raise something. He’s beautiful, he’s strong; a lot of body to him. He’s everything you hope for as a breeder.”

Lord Nelson, knocked out of the 2016 GI Breeders’ Cup Sprint in which he would have been a heavy favorite due to a leg infection, then had to overcome a battle with laminitis that forced him to miss the entire 2017 breeding season. While he may have lost a bit of momentum before covering his first mares last term, Mulholland is bullish on Lord Nelson’s future.

“I have supported him; I’ve liked him from day one,” he said. “Obviously, it was a tough start with him getting hurt and then his feet and all, but I’ve bred to him and I’m very hopeful. We need another son of Pulpit, and he’s a beautiful horse. I’ve liked everything he’s thrown for us, so I hope he makes it.”

Hip 1136 is out of a Songandaprayer half-sister to GISW Secret Compass (Discreet Cat) who made 28 starts in Puerto Rico. Maximus Mischief was a $165,000 KEENOV weanling and eventual $340,000 Fasig-Tipton Midlantic juvenile. Dam Reina Maria produced a full-brother to Maximus Mischief earlier this year before being bred back to Into Mischief once again. —@BDiDonatoTDN

Scherer Dares Again

Bloodstock agent Clay Scherer, bidding on behalf of Staton Flurry, was able to acquire Shedaresthedevil (Daredevil) as a graded stakes placed 2-year-old for $280,000 from the Hunter Valley Farm consignment at last year’s Keeneland November sale. The purchase paid off in spades when the filly captured the GI Kentucky Oaks 13 days ago for trainer Brad Cox. Scherer was back in action for Flurry Thursday at Keeneland, securing the Oaks winner’s half-sister by Speightster for $350,000 from the Woodford Thoroughbreds consignment.

“Staton loved her, Brad liked her a lot, too,” Scherer said after signing the ticket on hip 1182. “It’s worked out so far for them. She’ll get broke, go to Brad and see what happens. Hopefully we can make some magic happen again.”

Asked if he saw similarities between the two siblings, Scherer said, “Very much so. They look like carbon copies.”

Scherer said he has seen an exaggeration of the polarized market this September.

“It’s been challenging, it’s been very challenging as a buyer,” he said. “We’ve all landed on the same horses on numerous occasions. It’s much more polarized right now.” @JessMartiniTDN

Munnings Filly Pays for McCauley

If you follow him on Twitter, you know Nate McCauley loves Munnings, so it was no surprise to learn that, when he bought the young mare Show Me (Lemon Drop Kid) for $24,000 at the 2018 Fasig-Tipton February sale, his plan was to send her to the Coolmore stallion. The move paid dividends at Keeneland Thursday when the resulting yearling (hip 1164) sold for $240,000 to Quarter Pole Enterprises.

“That’s just what you hope when you breed one, that they go on and do that,” McCauley said after watching the filly sell. “Eddie Woods bought her, so you can be hopeful that she’ll go on to bigger and better things.”

Show Me is a half-sister to graded stakes winner Aegean (Northern Afleet) and stakes winner Light Bringer (Norther Afleet).

“She is a Lemon Drop Kid mare and I’m a big fan of Lemon Drop Kid,” McCauley said of Show Me’s appeal. “It’s a really precocious pedigree, she’s a half-sister to a 2-year-old graded stakes winner that Wesley Ward had and Mark Casse bought her as a 2-year-old and paid a lot of money for her. She won first out and she’s just a beautiful mare. And of course, I’m the biggest Munnings fan. So I picked her out for Munnings. Munnings has a graded stakes winner out of a Lemon Drop Kid mare already, so I knew the cross would work.”

In order to give the yearling the best chance of success, McCauley took some partners in on the foal, who was consigned Thursday by Pat Costello and Gabriel Duignan’s Paramount Sales.

“A group of the lads came and saw the foal and they didn’t let me get her to the ring as a weanling,” McCauley said. “I loved the filly so much and I have such appreciation and respect for those guys that I wanted to get her in their hands and they let me stay in. So I got her in their hands because I thought they could do what they did with her.”

As for Show Me, McCauley said, “She is back in foal to Karakontie (Jpn), who I think is a sleeper. And of course, I’ll breed her back to Munnings.”@JessMartiniTDN

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$1-Million Into Mischief Colt Tops Thursday At Keeneland September Yearling Sale

Keeneland's fourth session of the September Yearling Sale on Thursday recorded active commerce among a number of the industry's major buyers and featured the sale of an Into Mischief colt to Peter Leidel for $1 million.

Keeneland sold 195 yearlings during today's session for $34,507,000, for an average of $193,554 and a median of $160,000. Cumulatively, 589 horses have grossed $160,583,000, for an average of $272,637 and a median of $200,000.

With the top-priced yearling on Thursday, a total of 15 horses have sold for $1 million or more.

“Very exciting finish today,” Keeneland Director of Sales Operations Geoffrey Russell said. “To have three individuals bidding all the way to the million-dollar mark was very exciting. There was a lot of depth to the market. As we have said before, it is very selective. The people who should be here and looking at the horses and making the decisions are here, and we are very happy that they are committed to this industry.”

The session topper, a half-brother to stakes winner Cambria, is out of Grade 2 winner Teen Pauline, by Tapit. He was consigned by Warrendale Sales, agent for Stonestreet Bred & Raised.

“He is a lovely horse – ticked all the boxes as they say. Has a great walk,” said Hunter Simms, Partner and Director of Bloodstock Services for Warrendale. “The Into Mischiefs have been on fire at this sale and on the race track. Stonestreet did a nice job prepping him, and he showed himself well at the barn. He is a classy animal. Stonestreet has been very supportive of us over the years, and we greatly appreciate it. We have had good success for them.”

Donato Lanni, agent for SF/Starlight/Madaket, paid $775,000 for a colt by Quality Road consigned by Candy Meadows Sales, agent. The colt is out of Sustainable, a stakes-placed daughter of Forestry who is a half-sister to stakes winner Culotte, and is from the family of Grade 1 winner Famous Digger.

“He's a Quality Road – a great stallion,” Tom Ryan of SF said. “We're just starting to see the cream rising to the top now with him. Just think of what he's accomplished already; the future's so bright for him.”

“We're delighted,” Candy Meadows Senior Vice President and COO Matt Lyons said. “He's a lovely horse and a homebred for the farm. We didn't have any horses in Book 1 so this is our first group here. We've waited all day for him, and there were some very good judges of horseflesh on him.

“You have groups looking to buy two-turn Derby-type horses, and there are a lot of people looking for that type of horse,” Lyons added. “When they all land on the same one, they can bring an exceptional price. The group that bought him obviously know how to win the big races so that's great for us having the mare at home and having siblings coming. He'll be trained by Mr. (Bob) Baffert, and he knows how to win the big races, too.”

Lanni, agent for SF/Starlight/Madaket, was the session's leading buyer, acquiring five horses for $1,660,000.

“It's been a busy sale for us,” Ryan said. “Keeneland assembled a great group of horses here, and good horses are hard to buy.”

Warrendale, agent for Sandra Sexton and Silver Fern Farm, sold the session-topping filly, a half-sister to Grade 1 winner Hog Creek Hustle, to Solis/Litt for $725,000. The daughter of Constitution out of the Candy Ride mare Candy Fortune also is a half-sister to stakes winner Majestic Dunhill.

“She was just beautiful,” Warrendale owner Kitty Taylor said. “I sold her for some long-standing clients of mine who are very dear friends, Sandra Sexton and Silver Fern Farm. We sold Hog Creek Hustle and Majestic Dunhill. (This filly) was vetted so much and handled it so well. She went to a great place with LNJ Foxwoods. Alex (Solis) and Jason (Litt) bought her for them.”

Sheikh Hamdan Bin Rashid Al Maktoum's Shadwell Estate Company Ltd. paid $675,000 for a colt by Into Mischief who is a half-brother to champion Runhappy. He was consigned by Taylor Made Sales Agency, agent for Stonestreet Bred & Raised.

“Very nice colt,” said Rick Nichols, Vice President and General Manager of Sheikh Hamdan's Shadwell Farm in Lexington. “Good conformation and looks like he has a really good head on his shoulders. I thought I might have to go a little bit more (on the price). We have a really good Into Mischief 2-year-old (Mutasaabeq), who was third in (the Runhappy Hopeful-G1 at Saratoga on Sept. 7.)”

Mark Taylor, Taylor Made's Vice President of Marketing and Public Sales Operations, was pleased with the sale of the colt.

“We met with the Stonestreet team, and they decided to put this horse in Book 2,” Taylor said. “They thought he might stand out a little more here, and I think he did. He was head and shoulders above a lot of the other horses we had in this book, and the big buyers found him.”

Shadwell also paid $500,000 for another yearling consigned by Taylor Made, agent for Stonestreet Bred & Raised. He was the Curlin colt who is a half-brother to Grade 1 winner Girvin and Grade 3 winner Cocked and Loaded. His dam is Catch the Moon, by Malibu Moon.

West Bloodstock, agent for Robert and Lawana Low, purchased a Malibu Moon colt for $610,000. Consigned by KatieRich Farms, he is out of the Grade 2-placed Tiznow mare Fantasy of Flight.

Spendthrift Farm and MyRacehorse.com, co-owners of recent Kentucky Derby Presented by Woodford Reserve (G1) winner Authentic, spent $600,000 on a colt by Authentic's sire, Into Mischief, who was consigned by Roderick Wachman's Kingswood Farm, agent. A full brother to Grade 3 winner One Liner, he is out of the winning Cherokee Run mare Cayala.

Into Mischief, the September Sale's leading sire with sales of $23,280,000 for 45 yearlings, stands at Spendthrift.

“There are many nice (Into Mischief) yearlings out here,” Spendthrift General Manager Ned Toffey said. “They have always been well received in the market and there has definitely been a bump from the Derby result. (Into Mischief) continues to amaze us, and if there was anyone in the industry that was a non-believer, I think they're all gone.”

Paramount Sales, agent, led all consignors on Thursday by selling 18 horses for $3,572,000.

The September Sale continues Friday with the start of the three-day Book 3. The sale runs through Sept. 25, and all remaining sessions begin at 10 a.m.

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