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PR Special Keeneland September: The Best Of Book 2

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The Keeneland September Yearling Sale has rolled into Book 2, and the Paulick Report is back with another issue of the PR Special newsletter.

This time around, bloodstock editor Joe Nevills counts down the 20 greatest graduates from Keeneland September's second book sold since 2010. The list includes future Hall of Famers, champions, classic winners, and global superstars, all of whom went through the ring after the magnifying glass of Book 1 had been put away.

Airdrie Stud's Cormac Breathnach discusses Summer Front, whose first foals are 3-year-olds of 2020, in this edition's Stallion Spotlight. Then, Nevills examines the newcomers in the pages of Book 2 in Young Sire Watch.

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Thanks as always to our sponsors for making this edition of the PR Special possible. Your support is crucial to the functioning of our publication.

CLICK HERE TO READ THIS EDITION OF THE PR SPECIAL

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Into Mischief Continues His Commercial Ascent At Keeneland September Sale

The past 12 months have seen Spendthrift Farm's flagship sire Into Mischief achieve just about everything a stallion needs to do in order to be considered a major commercial sire.

Let's go down the list:

Breeders' Cup winner? Check.

Eclipse Awards? Covfefe got him two for good measure.

Leading sire title? He earned his first at the end of 2019.

Classic winner? Authentic went from the outside post to the history books earlier this month.

With that kind of momentum behind him, the next step was to have a big showing at this year's Keeneland September yearling sale. Another box, another check.

During Monday's session alone, Into Mischief had three yearlings bring seven-figure prices, adding to the one he hammered down on Sunday's opening day of trade. His four total seven-figure offerings tied him with Medaglia d'Oro for the most by a sire at Keeneland September through the end of Book 1. Prior to this year, his million-dollar yearling club consisted of a single horse.

If there was any remaining doubt that Into Mischief has earned his place among the the very top echelon of North America's commercial sires, it was pulverized with every seven-figure fall of the hammer.

“It's just building on what he's done,” said Spendthrift Farm general manager Ned Toffey. “He's always been a commercial horse, but when you win the Derby and you show people that you're able to get a classic horse, which was sort of the only question left unanswered with him, this has just given people that much more confidence to go out and ante up for a really nice Into Mischief. That's great news for us, it's great news for our breeders, and we couldn't be happier with it.”

The leader of the pack for Into Mischief through the end of Book 1 at the Keeneland September sale was Hip 438, a filly out of the Grade 2-placed stakes-winning Medaglia d'Oro mare Taylor S who sold to Larry Best's OXO Equine on Monday for $1.9 million, the second-highest overall price for both the day and the sale.

Taylor S is a half-sister to Breeders' Cup Dirt Mile winner Liam's Map and Grade 3 winner Not This Time, who have both gotten off to fast starts as stallions. Taylor Made Sales Agency consigned the top filly, as agent.

It was the second Into Mischief yearling Best purchased at the sale, after landing Hip 121, a colt out of the Grade 2-placed Cuvee mare Curlina, for $1 million on Sunday. He was handled by Gainesway, agent.

Elsewhere, Courtlandt Farm bought Hip 275, a filly out of the stakes-placed Distorted Humor mare Mary Rita, while BSW/Crow Bloodstock landed Hip 405, a filly out of the Unbridled's Song mare Special Me whose siblings include Grade 1 winner Gift Box and Grade 2 winner Stonetastic. Both yearlings were purchased for $1,025,000.

The performance by Into Mischief's yearlings during the Keeneland September sale carries on the momentum set last week during the Fasig-Tipton Selected Yearlings Showcase, where he had 17 yearlings sell for a combined $6,745,000, led by a colt out of the Distorted Humor mare Blind Copy who sold to the partnership of SF Bloodstock, Starlight Racing, and Madaket Stables for $800,000.

Had the yearling season ended after just the two days of the Fasig-Tipton sale, Into Mischief's 2019 foal crop would have been the fourth-highest out of his 10 crops to reach the market by number of horses sold at upper price points ($750,000 and up, $500,000 and up, or $250,000 and up). After two more days of selling at the market's highest level, this season's crop of yearlings sits second or third in those three categories, with a solid chance of finishing the year safely in first across the board.

With 2020 being an unprecedented year in practically every aspect of the Thoroughbred industry, Into Mischief was also the beneficiary of arguably the biggest update a sire has ever received heading into the yearling season: Authentic's victory in the postponed Kentucky Derby, just days before selling began.

With that being said, Toffey said a Derby winner alone doesn't guarantee an immediate spike in returns.

“The 'Derby bump' doesn't happen without the stock out here that he's got,” he said. “As his stud fee has gone up, the mare quality has gotten better, the individuals have gotten better, and that just continues to happen.

“That's the thing that's been remarkable over the years – not every stallion improves as the mare quality improves, but he's continued to do that,” Toffey continued. “In his second year, his stud fee was as low as $6,500, and all the way right up to last year at $175,000, the mare quality continues to go up and the quality of the offspring just continues to look better, and they continue to perform better. We're just glad he's on our team.”

Into Mischief's average yearling sale price reflects the stallion's climb up the commercial ladder. His first crop of yearlings saw 26 members go through the ring in 2011 for an average price of $22,792.

A year later, his second crop had 13 yearlings average $21,269 from combined revenues of $276,500 – all their respective lowest points. Into Mischief's average yearling sale price in 2019 was greater than his combined second-crop gross from 2012, and he stands a good chance of surpassing that threshold for a second time this year, continuing a journey to the top of the marketplace that seemed like a pipe dream a decade ago.

“That's the great thing about this game,” Toffey said. “You're always hoping for the best, you're shooting for the stars, and most of the time, you don't get these kind of results. Horses like Into Mischief just don't come along very often. He's just been remarkable. We thought we had the horse of a lifetime with Malibu Moon, and we've got another one with Into Mischief.”

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Canadian Sellers Face Unique Challenges In COVID-19 Auction Environment

Few branches of the horse racing industry exist that don't expect some form of travel, and the COVID-19 pandemic has put a unique stress on that vital component of the business.

COVID-19 travel and quarantine restrictions have made interstate travel difficult, as highlighted by the requirement that out-of-state riders in the Sept. 5 Kentucky Derby arrive by Aug. 31. International travel has proven to be an even greater task, but a handful of Canadian consignors have crossed the border to sell horses during the September yearling sales, ready for all the hoop-jumping it entails.

David Anderson of the St. Thomas, Ontario-based Anderson Farms said getting into the U.S. is the easy part, it's what happens when he returns home that will pose the biggest challenge.

“As of right now, there's no requirements to quarantine in Kentucky,” he said before the yearling sale season. “We've been very fortunate in Canada, and particularly in Ontario, we took some early measures to shut things down, and our positive coronavirus cases are down to 30 or 40 a day. It's virtually nothing.

“Unfortunately, when I come back to Canada, I'm going to have to endure a 14-day quarantine, but that's fine, as long as I can get to Kentucky,” Anderson continued. “That's my main focus right now.”

Anderson had two horses cataloged in the Fasig-Tipton Selected Yearling Showcase, and he'll have 12 cataloged throughout the marathon Keeneland September Yearling Sale. His horses shipped to Kentucky in June for sale prep, and he said the process of shipping horses back and forth over the border has not changed drastically this year, compared with getting himself from place to place.

Bernard McCormack of Cara Bloodstock in Janetville, Ontario also had a pair of yearlings entered in the Fasig-Tipton sale, and 15 more in the book for Keeneland.

McCormack was able to dip a toe into the 2020 yearling market during the Canadian Thoroughbred Horse Society (Ontario Division) Canadian Premier Yearling Sale on Sept. 2, where he handled the $90,000 (Canadian) sale-topper.

He said the Ontario sale did not require a negative COVID-19 test to attend like the Kentucky sales. Instead, organizers conducted temperature checks and had participants fill out questionnaires. Once people were on the grounds, seating was spaced apart and limited in the pavilion, and security guards were placed at the entrances and exits to ensure the headcount remained under the limit.

“There were a lot of variables, but it all went well from my perspective,” McCormack said. “The buyers were very careful, and as a consignor, you want to talk to your buyers and that was all very possible with distance and having a mask on. You can still tell a joke with a mask on.

“We had a sanitizing station where the vet book was, and I basically held on to the book more than I do in the past,” he continued. “I pretty much kept it with me so I could keep the book myself, and not have to pick up a book that 50 people have been turning the pages on.”

Though the Ontario sale provided a useful dry run for the September sales, it also pulled the curtain back on a sobering reality of the North American auction market for the foreseeable future – Not all Canadian buyers are going to want to spend two weeks on the sidelines to buy horses in-person in the U.S., especially during one of the busiest times of the year on an already condensed Woodbine stakes calendar.

McCormack said he noticed a few extra bids coming in for the top lots of the Ontario sale, courtesy of horsemen who might recognize this will be their only opportunity to secure yearlings in-person at auction this year.

In absence of some of the main principals and trainers that make up the Canadian buying bench at Kentucky sales, McCormack said he was utilizing every option at his disposal to bring the horses to those buyers, as well as their agents, whose role will be more important than ever.

McCormack noted that many of the major barns at Woodbine winter in Florida after the Ontario meet closes, and they have developed relationships with bloodstock agents in both locations. Whether they're coming from the north or the south, the key players should be able to have eyes and ears on the sales grounds, which makes providing the proper information to them crucial.

“I have mostly Canadian-breds selling in both sales,” he said. “You have the videos done, and of course, there's always contacts that you can reach out to get information to. I know a few Canadian agents that are going down, and I've encouraged them to reach out, and if they want to see them on the farms and cut their trips a little shorter because of commitments back home, we'll work with them if that's what's required.”

When it comes to employees on the sales grounds, McCormack and Anderson both said they decided against bringing down any grooms, showpeople, or other staff that make their consignments run from Canada, instead hiring locally in Kentucky.

“We've got some new staff that have not worked for us be- fore,” Anderson said. “Certainly, they come highly recommended. You'd like to have the same people year-in and year-out, but we're going to roll with the punches and hope for the best.”

Like the horsemen at Woodbine, the two consignors said the 14-day quarantine upon returning to Canada was too big of an ask for barn help in the U.S. sales.

Anderson said Canada has been proactive with contact tracing throughout the pandemic, which can be restrictive on day- to-day movement if a citizen is supposed to be in quarantine. However, he and McCormack both said they were fortunate to have their farms for quarantine boundaries, allowing them to get outside and continue their work relatively uninterrupted.

“You literally are supposed to stay in your house, and if you go outside at all, you have to stay in your backyard and wear a mask,” Anderson said. “I went through this back in the spring when I went to Florida, and I had three phone calls from the government checking up on me. We now have an app in Canada called the COVID Alert app, and it tells you if you've been in close proximity to anyone that's tested positive for the virus. It will alert you, and then you should immediately go into quarantine because of it.”

The two weeks on the bench has become part of the norm for McCormack, who has crossed the border repeatedly to transport mares between Ontario and Kentucky for breeding.

“I've done it six times this year, just shipping breeding stock,” he said. “I've never felt more thankful for having a farm because it's a natural bubble. My wife can do the banking and the other bits and pieces that can be done running around. I think one of my cars, I filled it up at the end of April and didn't have to fill it up again until the middle of June. I was just driving my truck back and forth to Kentucky.”

Both consignors will be back in Kentucky for the Fasig-Tipton Kentucky Fall Yearling Sale in late October, and the Breeders' Cup will be just down the road at Keeneland shortly after, followed by the November mixed sales running through the middle of the month. Between the necessity of selling horses and the challenges posed from re-entering the country, playing the long game in Kentucky for the fall is the likely plan for the horsemen from up north.

“Right now, I plan on staying,” Anderson said. “I just booked my hotel for right before the October sale through the end of the November sale. I'm booked in for probably four weeks. I'm just going to stay down. I spend the better part of 90 to 100 nights in Lexington anyway. It's almost like my second home.”

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$2 Million Tapit Colt Headlines Day 2 Of Keeneland September Yearling Sale

A partnership of Eclipse Thoroughbred Partners, Robert LaPenta, Gainesway, and Winchell Thoroughbreds paid $2 million for a colt by leading sire Tapit out of Grade 1 winner Tara's Tango to top Monday's second session of the Keeneland September Yearling Sale, which was marked by competitive bidding and the sale of nine yearlings for $1 million or more.

For today's final session of the two-day premier Book 1, Keeneland sold 100 yearlings for $44,535,000, for an average of $445,350 and a median of $360,000. Cumulatively, 209 horses have grossed $85,215,000, for an average of $407,727 and a median of $330,000. Fourteen yearlings sold for $1 million or more through the first two sessions and were purchased by 13 different domestic and international buyers.

Monday's session closed with four million-dollar horses sold within the last 11 hip numbers.

“It was a frantic end to the session, and we appreciate Barbara Banke for her support of Keeneland and congratulate her on having another top-priced horse,” Keeneland Director of Sales Operations Geoffrey Russell said, referring to the breeder of the session topper. “Under the current circumstances, we are very pleased with the session. We are back to that great intensity of bidding, the going back and forth. The atmosphere and electricity returned, so that is wonderful.”

“For 30 minutes at the end of the sale we felt like there was no COVID,” Keeneland President-Elect and Interim Head of Sales Shannon Arvin said.

Eaton Sales, agent for Banke's Stonestreet Bred & Raised, consigned the session topper. By Unbridled's Song, Tara's Tango is a half-sister to Grade 1 winner Visionaire and Grade 3 winners Scarlet Strike and Madison's Luna.

Aron Wellman of Eclipse Thoroughbred Partners signed the ticket for the colt.

“Partnerships are so prevalent in today's market,” Wellman said. “It is wild to think how far partnerships have come. We had a fabulous relationship with Cot Campbell of Dogwood Stable going back to when Eclipse first started. To think how the partnership model has evolved and that now we as a partnership company are partnering with moguls in the industry. It speaks volumes.

“Barbara Banke has been gracious about staying in as a partner,” he continued. “She adores this colt. Hopefully between all of us we have plenty of good mojo. All I care about is that you are interviewing our partnership after (the colt) wins a Grade 1.”

Larry Best's OXO Equine acquired a filly by Into Mischief for $1.9 million. 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.

“Book 1 has been unbelievably strong,” said Best, who paid $1 million for an Into Mischief colt on Sunday. “It blew away my expectations. Keeneland should be very happy.”

Taylor Made was the session's leading consignor, recording sales of $6.92 million for 14 horses.

Three of Monday's seven-figure horses are by Into Mischief, sire of recent Kentucky Derby Presented by Woodford Reserve winner Authentic. Into Mischief was the leading sire by gross on Monday, with 11 yearlings selling for $8.25 million. He is also the leading sire by gross for Book 1, represented by 20 yearlings that brought $13,085,000.

Another three of day's top-priced horses are by Medaglia d'Oro.

Shadwell Estate Company Ltd. of Sheikh Hamdan Bin Rashid Al Maktoum paid $1.6 million for a filly by Medaglia d'Oro who is a half-sister to English and Irish stakes winner Sergei Prokofiev.

Rick Nichols, Vice President and General Manager of Sheikh Hamdan's Shadwell Farm in Lexington, signed the ticket.

“She is a beautiful filly – the kind you have to have,” Nichols said. “Sheikh Hamdan told me this morning to try to concentrate on getting some really nice fillies. We send all of our good fillies to England, and he keeps promising to send them back (but he doesn't). Our broodmare band is starting to get a little old, and we need to rejuvenate it a little bit. I am pretty sure she will stay (in the U.S.) because the (offspring of) Medaglia d'Oro seem to do better here.”

Anderson Farms, agent, consigned the filly, whose dam is the Tapit mare Orchard Beach. In 2017, Sergei Prokofiev sold for $1.1 million at the September Sale.

“I'm very emotional right now,” David Anderson said. “I bred the mother and I bred this filly and she's probably the most athletic filly I've ever had on the farm. We came here fairly confident that everyone would feel the same way I do, and I know that Mr. Nichols bought her for Shadwell. I want to thank Mr. (Joe) Allen for being the underbidder on the filly. There were many wonderful people that I respect that came by to see the filly and bid on her. It means a lot to a little guy from Canada.”

Robbie Medina, agent, spent $1.4 million for a Medaglia d'Oro filly who is a half-sister to Grade 1 winner Salty. Baccari Bloodstock, agent, consigned the filly, whose dam is the stakes-placed Dixie Union mare Theycallmeladyluck.

A colt by Curlin and a filly by American Pharoah sold for $1.2 million each.

The partnership of Repole Stable, St. Elias, Gainesway, John Oxley and Grandview spent the amount on the Curlin colt, whose dam is multiple Grade 1 winner Midnight Lucky, by Midnight Lute. Hill 'n' Dale Sales Agency, agent, consigned the colt, who is from the family of Grade 1 winners Hookedonthefeelin, Pussycat Doll and Jimmy Creed.

Mike Rutherford purchased the American Pharoah filly, who was consigned by Betz Thoroughbreds, agent. Out of Grade 1-placed winner Modification, by Vindication, she a half-sister to undefeated Amsterdam (G2) winner Yaupon.

Rutherford said his current racing stable consists of six offspring of American Pharoah, the 2015 Triple Crown winner.

“She is beautiful, gorgeous. Best filly I have seen,” Rutherford said about his latest acquisition. “Let's hope she can run.”

Medaglia d'Oro also sired a filly that sold for $1.1 million. Indian Creek, agent, consigned the daughter of the stakes-winning Indian Charlie mare Thirteen Arrows. Out of multiple Grade 1 winner Stop Traffic, Thirteen Arrows is a half-sister to Grade 1 winner and sire Cross Traffic.

Two fillies by Into Mischief brought $1.025 million apiece.

Don Adam's Courtlandt Farm purchased the first, whose third dam is Hall of Famer Personal Ensign. Clearsky Farms, agent, consigned the filly, who is out of the winning stakes-placed Distorted Humor mare Mary Rita.

“We've looked at a few Into Mischiefs,” Courtland Farm Manager Ernie Retamoza said. “Yesterday, we got outbid on the colt that brought $1 million. We're a big fan of Into Mischief. We thought (this filly) had a lot of substance and a lot of class, and she's the kind of filly we want in our race program.

“It seems like for all the better ones you have to go further than you thought you'd want to go. But that's the way the sale is going. Everybody is on the same ones it seems like.”

BSW/Crow acquired the second seven-figure Into Mischief filly, a half-sister to Grade 1 winner Gift Box and Grade 2 winner Stonetastic. She is out of the Unbridled's Song mare Special Me.

Liz Crow, who signed the ticket for an undisclosed client, said she first saw the filly at the farm before the sale.

“She has a great attitude, just the way that she carried herself and presented herself with a lot of class,” Crow recalled about that visit. “She did the same here. Every time I saw her she just was classier than the last time.”

The filly was consigned by Machmer Hall Sales, agent for Machmer Hall I.

“This means so much because I bought Special Me (at the 2009 Keeneland January Horses of All Ages Sale for $6,000) as a broodmare prospect,” Carrie Brogden of Machmer Hall said. “It has been a whole progression of seeing and raising all of her foals. She is a great mom and is easy to get in foal and raises nothing but runners. She is the little mare that could.”

BSW/Crow was the session's leading buyer, spending $2.84 million for four horses.

The September Sale takes a one-day hiatus tomorrow then resumes Wednesday with the first session of the two-day Book 2 beginning at 10 a.m. ET.

To view the full results, click here.

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