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Last Stop for Yearlings: Fasig-Tipton October Sale Starts Monday

LEXINGTON, KY – The Fasig-Tipton October Yearlings Sale, which has produced back-to-back record-setting renewals, returns Monday morning with the first of 1,605 catalogued yearlings scheduled to go through the ring at Newtown Paddocks at 10 a.m.

As shoppers made the rounds at the sales grounds on a brisk fall morning the Bluegrass Sunday, consignors were expecting to see some familiar trends during the upcoming four-session auction.

“It's going to be interesting to see where the level of quality is here,” said Legacy Bloodstock's Tommy Eastham. “I think [the market] is going to be really good for the horses that are perceived to be above that level and I think it's going to be more of the same for the horses that they perceive to be below that. I think it's going to be tougher on those horses.”

Despite the expected polarization of the market, consignors were pleased with the activity they were seeing around the sales barns.

“It's very refreshing to come into the parking lot early in the day and have it full up from all the way back here in the tents to the front fields,” said Stuart Morris. “I think the traffic, to me, seems to be on par. I'm not going to say it's extra, but it's definitely not weak. All of the faces that you usually see are here.”

For the second year in a row, the October sale set highwater marks for gross, average and median in 2022 with total of 1,100 yearling selling for $55,426,500, an average of $50,388 and a median of $25,000.

“Over the last couple of years, this has become a really strong sale,” said Hanzly Albina of Blake-Albina Thoroughbred Services. “It used to definitely be a lower-end horse and now there are 1600 horses here. I think there are people who are pointing horses here who need a little more time and they are more comfortable waiting to sell their horses here because they know there will be money here for them, versus having to put horses in sales they feel they aren't ready for.”

Albina said his 23-horse consignment at the October sale included yearlings who had RNA'd at previous sales, as well as horses pointed specifically to the last yearling sale of the year.

“We have horses in here that have big pedigrees that we wanted to give more time to and we were comfortable waiting until October,” he explained.

The consignment includes a colt by Curlin (hip 691) out of Kateri (Indian Charlie) and a filly by Tapit out of My Bellamy (Bellamy Road) (hip 948) who were both catalogued for the Keeneland September Yearling sale, while a colt by Into Mischief out of Indy Punch (Pulling Punches) (hip 651) will be making his first sales appearance.

“She was offered at Keeneland in Book, but I think she got overlooked,” Albina said of the Tapit filly. “The Curlin was offered in September and I think he needed more time, too, but the Into Mischief we waited on him to mature a little more.”

Eastham said the October sale is a natural place to sell yearlings.

“It's a nice sale to prep a horse for,” he said. “They naturally mature into it. You don't have to push them as much. They keep them outside longer and put a little less pressure on them.

I think you see some of these upper-end buyers that were really active in earlier sales start holding some cash for this sale. Because a lot of good horses come out of this sale.”

Morris agreed the October's impressive list of graduates has attracted buyers' attention, but he also thinks the auction is helped by its position as the final yearlings sale of the season.

“I think a lot of buyers come here because it's the last stop,” Morris said. “So as sellers, we are a little more cautious–what might be considered realistic–and buyers are a little aggressive because they have to fill orders. I think that helps this sale just because of the calendar time that it's the last stop of the year. There are 1,600 head here and a bunch of stakes horses come out of this sale every year, so if you have a big budget of $500,000 or $600,000, you can find horses here for that money. If you've got $50,000 or $10,000 or $5,000, you can find horses. So I think that creates a big buyer base.”

Eastham observed that buyers have been particularly hard on vet issues at the earlier yearling auctions this fall, but he is hopeful the last auction of the season might have them reevaluating that position.

“At Keeneland [the buyers] were strict on vetting,” he said. “A chip that would normally cost you 20% was costing you 70%. Hopefully they will be a little more forgiving on some small, minor vetting issues because we are getting to the end of the year and we can get those horses sold.”

The October sale will be held Monday through Thursday with sessions beginning daily at 10 a.m.

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Well-Stocked for Keeneland September, There is Nothing Random about Cove Springs’ Success

Richard and Connie Snyder moved their commercial breeding operation from New Mexico to Kentucky nine years ago with the aim of competing at the highest levels of the game. The Snyders' Cove Springs Farm seems to have that goal well in its grasp after a memorable August which saw the operation represented by its first Grade I winner when Randomized (Nyquist) captured the GI Alabama S. and by a high-water mark in the sales ring when a colt by Not This Time brought $725,000 at the Fasig-Tipton Saratoga sale. Cove Springs will hope the momentum carries into the new month with offerings from Book 1 straight through Book 6 of the Keeneland September Yearling Sale, including a half-sister to Randomized who sells in Book 3.

Asked how the couple first got involved in racing, Richard Snyder paused before admitting, “Oh my goodness. That's too long ago. I can't remember that far back.”

Straddling breeding in New Mexico and Kentucky, the Snyders decided to commit to the bluegrass nearly a decade ago.

“We've had horses for a long time,” Snyder said. “We were breeding some horses in Kentucky and we decided, if we were to be successful and where we wanted to be, we needed to be here in Kentucky.”

The Snyders hung the Cove Springs sign outside their new farm on Paynes Mill Road in Versailles in August of 2014. One of their first big investments for the new farm was French Passport (Elusive Quality), who they purchased in foal to American Pharoah for $200,000 at the 2018 Keeneland November Breeding Stock Sale.

“She was the first big-money mare that we bought,” Snyder said. “If you are going to live here and compete with these guys, you've got to play the game. You've got to compete.”

The unraced French Passport is a half-sister to graded winners Smooth Air (Smooth Jazz) and Overdriven (Tale of the Cat), as well as to the dam of multiple Grade I winner Got Stormy (Get Stormy).

“We were very familiar with the family,” Snyder said of the mare's appeal. “It's a deep family. At one time we had a stallion that is back in that family. So we just kept up with the family and knew it well and when she showed up in foal to American Pharoah, we knew this was where we were going to start.”

After RNA'ing for $225,000 at the 2020 Fasig-Tipton Selected Yearlings Showcase, the mare's American Pharoah colt sold for $550,000 at the 2021 OBS March sale. French Passport's second foal bred by Cove Springs was Randomized, who was purchased by Klaravich Stable for $420,000 at the 2021 Keeneland September sale. Klaravich came back to purchase the mare's yearling colt by Justify for $410,000 last September.

Randomized, a maiden winner at Aqueduct in March, was well-beaten in the GI Acorn S. in June, but rebounded with a win in the Wilton S. at Saratoga in July. She glided home a front-running four-length winner of the Alabama Aug. 19.

What was it like to watch the farm's first Grade I winner come down the stretch in front at Saratoga?

Snyder laughed. “It was unbelievable,” he said.

Snyder admitted he was impressed with French Passport's Nyquist filly right from the start.

“Did we know she was going to be a Grade I filly? Of course not,” he said. “But she always had a tremendous air about her and a great, great walk. She always wanted to do more than we would let her. This mare's babies are all like that.”

Through the Hidden Brook consignment, Cove Springs will offer a half-sister by Frosted to the Alabama S. winner as hip 1711 during Sunday's sixth session of the two-week auction.

“I love her,” Snyder said of the yearling. “She is beautiful and has the same aura about her. She knows she is who she is. And she's a great-moving filly. She's maybe not be as big as Randomized, but she's a beautiful filly.”

Cove Springs's September contingent is led off by a Book 1 filly by Justify (hip 133), who sells during Monday's first session of the auction with Four Star Sales. The yearling is the first foal out of Gaels Win (Daaher), a half-sister to graded winner T.D. Vance (Rahy) and to graded-placed Bergerac (Rahy) and Philippe (Mineshaft). Her third dam is Grade I winner Fantastic Find (Mr. Prospector), who produced multiple Grade I winner Finder's Fee, the granddam of Flightline.

“She is drop-dead gorgeous,” Snyder said of the bay filly. “She's a big, scopey, great-moving filly. And it's an outstanding family. I think buyers will appreciate this pedigree. It's loaded with both turf and dirt runners. So I think she will appeal to a wide range of people. We are expecting big things for her.”

The Snyders purchased Gaels Win, who is currently in foal to Tapit, for $375,000 at the 2020 Keeneland November sale.

“She was in foal to Into Mischief when we bought her,” Snyder said. “Unfortunately, she aborted that foal, so this is her first filly.”

Cove Springs has about 20 broodmares of its own and is home to some 10 to 15 outside mares.

The plan is to sell their foals as yearlings, Snyder said, adding, “That's Plan A. It doesn't always work out. Consequently our sales are pretty good, but our racing stable is not always on top. But we do have some nice horses in training at the moment.”

The operation enjoyed success in the sales ring in Saratoga when its colt by Not This Time out of Speightstastic (Speightstown) (hip 171) sold for $725,000 to Repole Stable and Spendthrift Farm.

“Realistically, we thought he would sure bring $500,000 to $600,000, so he brought more than we expected of course,” Snyder said. “But he was a beautiful horse. And I think he has a huge future in front of him.”

The couple will stay busy straight through to Book 6 of the Keeneland September sale when they will offer a colt by Good Samaritan out of Lightning Dove (Uncle Mo) as (hip 3752) with the Legacy Bloodstock consignment.

“We have some other really nice horses in the sale, all the way from Book 1 to Book 6,” Snyder said. “We have a great horse in Book 6. We are pretty proud of him.”

Connie and Richard Snyder are reaping the rewards of some 35 years of working together towards a common goal.

“Connie and I work hard at it,” Snyder said. “This is what we do and this is what it takes to get there. If hard work and want-to is the key, we should move forward.”

The Keeneland September sale begins with a pair of Book 1 sessions Monday and Tuesday beginning at 1 p.m. Book 2 sessions Wednesday and Thursday begin at 11 a.m. Following a dark day Friday, the auction continues through Sept. 23 with sessions beginning daily at 10 a.m.

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Lord Nelson Filly Tops Penultimate Session of Keeneland September

A filly by the late Lord Nelson brought $125,000 from agent Michael Wallace, acting on behalf of St. Elias Stables, to top Friday's 11th of 12 sessions of the Keeneland September Yearling Sale.

Vinnie Viola's operation has purchased a total of 48 head throughout the sale, either alone or in partnership, for gross receipts of $18,815,000 and an average of $391,979.

Consigned by Legacy Bloodstock, agent for breeder Spendthrift Farm, as Hip 3709, Friday's topper is a full sister to 2022 GII Saratoga Special S. third-place finisher and recent runaway Pimlico optional claiming winner Super Chow.

Out of the unraced Warrior's Reward mare Bonita Mia, she is from the family of Grade/Group 1 winners Miss Match (Arg) (Indygo Shiner), Carina Mia (Malibu Moon) and Miss Linda (Arg) (Southern Halo).

Canuck Racing Club paid $70,000 for the session's second highest seller, Curlquest, a colt by Exaggerator out of a daughter of champion Blind Luck (Pollard's Vision). Consigned by Castle Park Farm (Noel Murphy), agent, he is out of I'm the Reason (Bernardini). He was bred in Ontario by Langcrest Farm.

With one day remaining in the Keeneland September Sale, a total of 2,663 yearlings have sold through the ring for $402,977,700, for an average of $151,325 and a median of $80,000. The average price is up 14.56% from $132,091 in 2021, while the median is 23.08% above $65,000 last year.

The gross of this year's sale is a record for a Keeneland auction. The mark officially was passed Thursday.

On Friday, Keeneland recorded sales of $3,037,700 for 175 yearlings, for an average of $17,358 and a median of $15,000. The total is below the corresponding session in 2021 when 243 horses sold for $3,930,000. This year's average price increased 7.33% from $16,173 in 2021, while the median was 25% higher than $12,000 last year.

Friday session's leading consignor was Taylor Made Sales Agency, which sold 20 horses for $413,500. Wallace, agent for St. Elias, was the session's leading buyer.

The 12th and final session of the September Sale begins Saturday at 10 a.m. ET. The auction will be streamed live at Keeneland.com.

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‘Can’t Miss’ Keeneland September Sale Starts Monday

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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