Tag: Keeneland January

Well-Bred American Pharoah Colt Debuting at Hanshin

In this continuing series, we take a look ahead at US-bred and/or conceived runners entered for the upcoming weekend at the tracks on the Japan Racing Association circuit, with a focus on pedigree and/or performance in the sales ring. Here are the horses of interest for this weekend running at Hanshin Racecourse:

Saturday, March 30, 2024
1st-HSN, ¥10,480,000 ($69k), Maiden, 3yo, 1800m
CRITICAL HIT (c, 3, American Pharoah–Mythical Mission, by Giant's Causeway) is out of a stakes-winning full-sister to MGSW/GISP and two-time Canadian champion Irish Mission who was purchased by Shimokobe Farm for $575,000 with this colt in utero at the 2021 Keeneland January Sale. Also a half-sister to GSW French Beret (Broad Brush) and to the dam of Mission of Joy (Kitten's Joy), a dual Grade III winner and third in last year's GI QE II Challenge Cup, Mythical Mission foaled a Justify filly in Japan in February 2022, her last listed produce. B-Shimokobe Farm (KY)

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Justify Colt Otanisan On ‘Sho’ at Nakayama

In this continuing series, Alan Carasso takes a look ahead at US-bred and/or conceived runners entered for the upcoming weekend at the tracks on the Japan Racing Association circuit, with a focus on pedigree and/or performance in the sales ring. Here are the horses of interest for this weekend running at Kokura and Nakayama Racecourses:

Saturday, February 24, 2024
3rd-NKY, ¥10,480,000 ($70k), Maiden, 3yo, 1200m
OTANISAN (c, 3, Justify–American Song {Arg}, by Stripes Song {Arg}) is the first foal from his dam, a Group 1 winner in Argentina who was exported to the U.S. in 2019 and was covered by this Triple Crown winner the following season. Having produced this colt in Kentucky in early April 2021, the half-sister to dual Group 1 scorer Mystery Train (Arg) (Not For Sale {Arg}) was bred to American Pharoah prior to her export to Japan. She foaled a colt in April 2022 who fetched better than $509,000 when offered at the JRHA Select Sale just over three months later. B-Grand Bokujo (KY)

 

 

 

Sunday, February 25, 2024
1st-KOK, ¥10,480,000 ($70k), Maiden, 3yo, 1800m
SING MY BLUES (c, 3, War Front–Solo Piano, by Empire Maker), a half-brother to British listed winner and Group 3-placed Purser (Mizzen Mast) and the stakes-placed Clavichord (Super Saver), is out of a daughter of 2001 GI Kentucky Oaks and GI Alabama S. winner Flute (Seattle Slew), also the dam of GSW & MGISP Filimbi (Mizzen Mast). Solo Piano is also kin to the dam of GSW Current (Curlin) and GISW Weep No More (Mineshaft)–dam of two winners in Japan–and cost $35,000 in foal to Flintshire (GB) at the 2019 Keeneland November Sale. B-Galteemore Bloodstock, Grouseridge Ltd & OPA Bloodstock (KY)

5th-NKY, ¥10,480,000 ($70k), Maiden, 3yo, 1600mT
SHIMAI (JPN) (f, 3, Medaglia d'Oro–Lyrical Moment, by Unbridled's Song) was purchased for $190,000 in utero at the 2021 Keeneland January Sale and is out of a granddaughter of Be a Prospector (Mr. Prospector), whose multiple Grade III-winning daughter Away (Dixieland Band) was responsible for the ill-fated MGSW & GI Kentucky Derby runner-up Eight Belles (Unbridled's Song). B-Mishima Bokujo

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‘Fair and Stable’ Keeneland January Sale Concludes

by Jessica Martini & Stefanie Grimm

LEXINGTON, KY – Driven by strong demand at the top–which saw the auction produce its first seven-figure horses in five years–the Keeneland January Horses of All Ages Sale concluded Thursday in Lexington with a fairly steady average, but a double-digit decline in median.

“I think it's been a very fair and stable market,” said Keeneland Director of Sales Tony Lacy. “We saw a lot of stability and a lot of good trade going on. When you look at the fact that we haven't had a $1-million horse in January since 2019, and we had two through the ring and one sold privately, there was a lot of quality. I think that is what we saw the first day with the increase in gross and average. People are very much focused on the quality and are willing to pay a premium for it. Overall, the numbers were very satisfactory. Speaking to the buyers and speaking to the sellers, everybody found it a fair, competitive market. Nobody had a complaint that there was any sort of perceived weakness or anything that would give us concern for the future.”

Through four sessions, 831 horses grossed $38,330,300. The average of $46,126 dipped 2.28% from a year ago, while the median fell 21.05% to $15,000. The buyback rate remained steady at 22.84%.

“The median is down 21% from last year, but again the average has really held up,” Keeneland Director of Sales Operations Cormac Breathnach said. “It's a sign that the top part of the market is in really good shape. That buoyancy is helping the average. The middle and lower end of the market felt a little spotty in Book 1, but [Wednesday]'s session was better than the corresponding session last year, which I think is a good sign for the market at large.”

During the auction's first session Monday, the broodmare prospect Prank (Into Mischief) became the sale topper when selling for $1.6 million to Tom Wachman of Coolmore from the Gainesway consignment. It was the first time since Coolmore spent $5 million to acquire Abel Tasman (Quality Road) at the 2019 sale that a horse had brought seven figures at a January sale. Later in that same session, Japan's K I Farm purchased Canadian champion Curlin's Voyage (Curlin) for $1 million from the Hill 'n' Dale at Xalapa consignment. The 2024 January auction got a third seven-figure mare when Star Act (Street Cry {Ire}) sold post-sale for $1.2 million.

Star Act's private sale marked the second Keeneland sale at which a post-sale transaction provided a seven-figure result. At the Keeneland November Breeding Stock Sale, Puca (Big Brown) brought the auction's unofficial top price when selling post-sale for $2.9 million.

“Both of those two high-profile horses brought significantly more post-sale than they RNA'd for, which to me is reflective of an active buyer base,” said Breathnach.

As at the November sale, the January sale featured a vibrant post-sale trade. An additional 27 horses sold after initially being unsold in ring for $2,243,000.

“Our RNA-to-sale activity is up on last year,” Breathnach said. “We saw that in November, too. So sometimes, the RNA rate can look a little spiky and sometimes it is, but it's also kind of bolstered by the fact that people are here to buy. And that's a good sign for the number of people who are here and actually active. When they really think about what these horses are worth, they are willing to reconsider and give market value and at significantly higher numbers. Maybe that is partly coincidental and only happens this year, but I think it reflects an active buyer base that is determined to buy quality and we are grateful for that.”

Lacy added, “When you walk into the ring, in the hope of what something might bring, the market tells you what a horse is worth on the day. And that's a compromise between what someone is willing to spend and what you were hoping to get on the other side. There is a balance. But I think the post-sale trade also shows there is still a market after the hammer falls. And it's one that we encourage pretty strongly. It's not just in the ring. We feel like that is an important part of the process.”

Prank tops this year's Keeneland January Sale | Keeneland

As it was at the Keeneland November sale, the market for quality weanlings–and now short yearlings–remained strong.

“[The short yearling market] was very competitive,” said Breathnach. “The ones that sold well, sold very, very well. I think people were quite surprised by the activity at the top end of the yearling market. There was a lot of money around and for the good horses. That's a great sign for the future.”

In 2024, 382 short yearlings sold for $14,846,700 and an average of $38,866. A pair of yearlings shared top price of $430,000, with Cherry Knoll Farm acquiring a colt by Not This Time and John Stewart's Resolute Bloodstock purchasing a filly by Candy Ride (Arg) for that price. Three yearlings sold for $400,000 or over, six sold for $300,000 or over and 11 sold for $200,000 or over.

In 2023, 407 short yearlings sold through the ring for a gross of $18,055,300 and average of $44,362. A filly by Quality Road was the highest-priced yearling last year, selling for $450,000, and she was one of two to sell for $400,000 or over and five sold for $300,000 or over. Sixteen yearling sold for $200,000 or over.

“I think it's a really good sign for the health of the yearling market for next September that the activity is here in the new tax year with various uncertainties, obviously, around the world and in the economy,” Breathnach said. “The economy is in good shape, interest rates are coming down and inflation levels are drastically lower than they were. Still, people have reason to look to the future and make tough decisions, but they are deciding to buy good horses at a very high level.”

The January catalogue was diminished by a large number of outs. From a catalogue of 1,487, a total of 410 were withdrawn before going through the ring.

“We saw an elevated number of scratches, especially on session two, I think that was a lot of people who weren't really pressured to sell,” said Lacy. “And you saw that in the short yearlings, specifically, where people were happy enough to keep them and point them to September.”

The January sale attracted a diverse, and international buying bench, with the top 15 highest-priced horses bought by 13 different entities.

K I Farm's Tomoyuki Nakamura traveled from Japan to attend the January Sale for the first time. Also active was Japan's Shadai Farm, which acquired broodmare prospect Dolce Zel (Fr) (Zelzal {Fr}), a multiple group winner, for $400,000. In addition to Europe and Japan, buyers also represented Saudi Arabia, the Philippines and Australia.

“There was very broad-based, global attention focused on this sale,” Lacy said. “Our sales team has been aggressive in traveling around the world, meeting people in person in their home countries to make sure they understand Keeneland is an international marketplace. We've had correspondence from people around the world during this sale in addition to the great buyer base who were here.”

Taylor Made Sales Agency was the leading consignor by gross at the January sale for the 21st time since 2001. Taylor Made sold 100 head for $5,080,200. Bloodstock agent Steve Young, who purchased four mares on behalf of Ramona Bass to support Bass's recently retired stallion Annapolis, was the auction's leading buyer.

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Keeneland January Sale Stays Steady on Day Three

by Jessica Martini & Stefanie Grimm

LEXINGTON, KY – The Keeneland January Horses of All Ages Sale continued into its second half Wednesday in Lexington with a session which, while significantly smaller, produced results largely in line with its 2023 counterpart.

For the session, 196 horses sold for a gross of $4,352,900. The average of $22,209 was down 2.54% from last year's corresponding session, while the median of $10,000 was up 25%. From 316 catalogued horses, 242 horses were offered and 46 failed to meet their reserves for a buy-back rate of 19.01%.

During the third session of the 2023 auction, 246 horses sold for $5,605,700. The session average was $22,787 and the median was $8,000. The buy-back rate was 17.45%.

Marvelous Time (Distorted Humor), who sold just minutes into Wednesday's session, brought the day's top price when selling for $220,000 to Centofanti Thoroughbreds, as agent for Brittlyn Stables.

The session topper was one of 17 sold for $1,103,000 during what has become an annual offering of mares from Godolphin, making Sheikh Mohammed's operation the day's leading consignor.

A filly from the first crop of Yaupon brought the top price for a short yearling Wednesday when selling for $150,000 to Crestwood Farm.

Through three of four sessions, 626 horses have grossed $35,949,600 and the average of $57,427 is just 0.79% off the 2023 figure. The median of $22,000 is down 18.52%.

“I'm more than happy with the market,” said Hunter Valley's Adrian Regan. “I think there was a bit of doom and gloom from some people coming in that it was going to be tough going, but in fairness, it was pretty good. If you had the right foal and it vetted clean and everything, you got a lot of money for it. They sold very well. Overall, it was better than expected, I would say.”

A horse awaits a turn in the ring | Keeneland

Consignors agreed quality offerings continued to be in demand at Keeneland this week.

“Horses with quality are still fairly easy to sell,” said Brian Graves of Gainesway, which consigned the $1.6-million sale-topping Prank (Into Mischief) during Monday's first session of the auction. “And then anything that even hints at not being every bit of that is correcting. Anything that is not 100% quality or top shelf, it looks like it's correcting.”

Graves said he has also observed less activity than normal in the back ring.

“It seems like there is not a lot of back ring participants, so if you didn't have it done at the barn, you weren't going to get any help,” he said. “There weren't a ton of people standing around here just buying horses out of the back ring for anything significant.”

On the other side of the ledger, Graves has been active as a buyer in the pinhooking sphere where he admitted he was vying for that very quality, while also casting a wary eye on potential market conditions next fall.

“We focus on quality [when we buy],” Graves said. “That's what we focus on. It's a battle to get your hands on that and once you've gotten your hands on that, you have to worry a little bit wondering if these other signs that we are seeing are a hint of what is coming down the road.”

Meg Levy, whose Bluewater Sales sold the $650,000 Kaling (Practical Joke) Monday, said demand for quality lots significantly helped to drive up prices for those offerings.

“I feel like quality will out,” Levy said. “The buyers are willing to pay more for the perceived commercial quality, particularly in the yearlings, I have noticed. We had Kaling sell very well here, which we were pleased about. But it just seems like everybody is willing to pay up to a third more for what they perceive to be the right stuff. And the middle market is still suffering. It's very difficult.”

Levy speculated that some of the weakening in the foal market might be traced back to the vet reports.

“There is kind of a gap selling some of these yearlings where we are using the vet reports as a marketing tool to help the buyers,” she said. “But honestly, so many of them don't understand reports and they don't use a veterinarian, so that ends up hurting things.”

The Keeneland January sale concludes Thursday with a session beginning at 10 a.m.

Sikura, Dorman Team Up for Star Act

The Keeneland January sale got its third seven-figure horse when Hill 'n' Dale at Xalapa's John Sikura and Determined Stud's Matt Dorman partnered up to purchase Star Act (Street Cry {Ire}) (hip 144) for $1.2 million. The 13-year-old mare, dam of GI Breeders' Cup Juvenile Fillies winner Just F Y I (Justify), was originally led out unsold at $950,000 during the auction's first session Monday.

Star Act | Keeneland

“She is a class mare,” Dorman said Wednesday. “She's a Grade I producer. She has a phenomenal horse who is three-for-three and primed for next year. John Sikura has always been a great business partner. It just worked out as a good opportunity.”

Dorman said the mare, who is in foal to Life Is Good and was consigned by Hill 'n' Dale on behalf of George Krikorian, was on his radar Monday, but after Prank (Into Mischief) sold for $1.6 million earlier in the session, he assumed Star Act would be out of his price range.

“When I saw the horse go for $1.6 million, I thought she would be too much,” Dorman said. “I work with David Ingordo now. So Dave and I had a long conversation about the broodmare band and what we are doing. And after [Star Act] RNA'd, we decided that the horse made sense at this number. So we reached out to John and Donato [Lanni]. And we called back and forth and it evolved into John and I buying the horse. Donato and the owner have a long-standing relationship with John and respect John, so it worked out well.” @JessMartiniTDN

Marvelous Time Makes Trip Worthwhile for Centofanti

Bloodstock agent Raffaele Centofanti made the trip up from Ocala to find a specific mare for Evelyn Benoit's Brittlyn Stable and, mission accomplished, he was heading back south having purchased Marvelous Time (Distorted Humor) (hip 845) for $220,000 early in Wednesday's third session of the Keeneland January sale. Bred and consigned by Godolphin, the 4-year-old is a daughter of Grade I-placed Folk (Quiet American).

“We were looking for that Quiet American line,” Centofanti said of the mare's appeal. “They are hard to find. You can't find them usually that young–she's only four. It's such a great female line. To get her that young and with that broodmare sire, she checked all the boxes basically. She had everything physically, as well. She is 16.2, with a classy look and a great walk. She looks like a Distorted Humor, but she had the size. She had everything I liked physically.”

Marvelous Time | Keeneland

Marvelous Time made just one racetrack appearance, winning her debut at Presque Isle Downs in 2022 for trainer Mike Stidham. The bay mare is a half-sister to graded-placed Captivating Lass (A.P. Indy), who produced Grade I winner Atone (Into Mischief). She sold Wednesday in foal to Mystic Guide.

“I probably appraised her at a little less than that, but when I came and saw her, I thought we needed around $200,000 to buy her,” Centofanti said. “I think she was worth that.”

Marvelous Time will remain in Kentucky to foal and then will head south to Brittlyn Stable's Louisiana base to visit either Star Guitar or Clearly Now.

“We are debating where we will go with her,” Centofanti said. “We are trying to bring some quality back to Star and Clearly Now. We've been doing it the last two years and we've got some nice babies coming up.”

Centofanti said the plan has been to upgrade the Brittlyn broodmare band as mares get older and are rotated out. The results are showing up on the race track and in the sales ring.

“We've been selling the last three years,” he said. “We sold a couple of Star Guitars for six figures at Keeneland that went on to win big races–one won in Dubai a couple of weeks ago out of Charged Cotton (Dehere). And we have a Not This Time we will sell in September and she is beautiful.”

The Brittlyn-bred Manama Gold (Star Guitar), a Louisiana-bred out of Charged Cotton, sold for $100,000 at the 2022 Keeneland September sale and resold for $200,000 at the 2023 OBS April sale. The filly broke her maiden stylishly at Meydan Dec. 22 for Fawzi Abdulla Nass.

“We've been rotating between Kentucky and Louisiana sires,” Centofanti said. “[Benoit] loves racing and she loves Louisiana. And this way we can continue and we've had success doing that. Our horses are running and doing well.”

Marvelous Time was the only horse Centofanti bid on at Keeneland and he was ready to head back south.

“I have to go to Ocala,” he said. “I have a bunch of horses for her that we are breaking. So I've got to get back there.” @JessMartiniTDN

Yaupon Yearling to Crestwood Farm

Not long into the third session of the Keeneland January sale, Crestwood Farm and Robert Keck went to $150,000 for hip 926, a filly from the first crop of Yaupon.

“She had an amazing body, great bones and a standout pedigree for this session,” said Keck. “She'll be resold in September.”

Hip 926 | Keeneland

Spendthrift Farm's Yaupon has seen his yearlings sell well this week, all five sold going for over six figures, led by a $190,000 colt (hip 82) who sold Monday to Clarmont Bloodstock Club.

“Hopefully that sire is as hot as people are predicting,” Keck continued. “I knew that [Yaupons were selling well], but looked at her as an objective buyer. People don't pay enough attention sometimes to where a horse comes from and I liked that she was raised by Clarkland Farm, they raise a great horse.”

Bred and consigned by Clarkland Farm, the filly is a daughter of MSW Tiz Imaginary (Tizway), who was purchased by the farm for $180,000 out of the 2019 Keeneland November sale. This is the family of champion 2-year-old filly Flanders (Seeking the Gold) and her champion daughter Surfside (Seattle Slew). @SGrimmTDN

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