Wednesday's opening breeze-ups were topped by a trio of horses that stopped clock in :9 4/5 for an eighth of a mile, a time that was matched by no fewer than 15 juveniles on Thursday. Those numbers were lowered Friday by a pair of horses, a Wavertree Stables Inc.-consigned filly (hip 448) from the first crop of Vekoma (Candy Ride {Arg}) and a colt (hip 529) by fellow freshman sire Tiz the Law (Constitution) consigned by Hartley/DeRenzo Thoroughbreds. Each covered an eighth of a mile in :9 3/5.

Laying Down the 'Law'

Randy Hartley went to $375,000 for the Tiz the Law colt from the Woods Edge Farm draft at Keeneland September, but only after a not-so-subtle push from his client Rich Mendez.

“At $350,000, honestly, I was done, but Rich goes, 'one more time,' because Tiz the Law was like his favorite horse,” Hartley explained. “So I did and we got him. $350,000 was kind of our number, but we loved him so much we stretched a little more because we were trying to find the best one there.”

The approach to the September sale was fairly straight-forward.

“We went to that sale to try to find the best Tiz the Law at the sale and we found him in Book 1,” Hartley said. “Peter O'Callaghan had him and he might have had other horses sell for more in Book 1, but I thought this colt was the best physical he had in that book. We stretched on him because we thought that Tiz the Law was such a great racehorse, we love Constitution too, but they're harder to buy. But we felt like we if had one of the best Tiz the Laws in  the 2-year-old market that the people that respected Tiz the Law would be trying to buy something that they like.”

Just a May 9 foal, the colt is a son of the Grade III-placed Our Majesty (Majesticpefection), herself a half-sister to a pair of black-type winners. Sun Bloodstock purchased Our Majesty for $375,000 in foal to Tapit at Keeneland November in 2019 and sold the Tiz the Law colt to Vanny Investments for $140,000 at Keeneland January in 2023.

Hartley was duly please with what he saw on the track Friday.

“He's quick and he kept going, some people had him in :19 and change galloping out,” he said. “He's a May baby. I don't push mine hard, he's even still a little chunky. I try to get my horses here sound and I feel like if I train them good, they'll give me everything they've got. Once they show me that they can take off and go, from there it's about fitness. We're super proud of him. He's only 22 months old, but he looks like a 3-year-old.”

The noted reseller believes there is a good buzz about the first crop of the 2020 GI Belmont S. hero.

“We only had this one and he's been our man the whole time. I would definitely buy some more,” he said. “When I see Tiz the Laws bringing $200,000 in January, that tells me that people are liking the way they're training. People are not going to buy them if they're not hearing that buzz. We thought a lot of this colt all season.”

Kight High On Justify Colt

If the Tiz the Law colt didn't exactly represent a 'bargain' price, Hoby Kight felt like the $100,000 that he gave at Keeneland September for a Justify colt from the consignment of Joe Pickerell's Pick View LLC certainly was. The Jan. 23 foal (hip 539) was bred in New York by Chester and Mary Broman.

“He was big and beautiful and he's got some pedigree,” Kight explained. “And Dr. Broman raises a really good horse, [Sequel Bloodstock's] Becky [Thomas] does a phenomenal job. He had a cut on his back leg on his pastern and his leg was still swollen from the cut. A lot of short-listers, they cut that horse and never get to see him and that's the sort of stuff I prey on. It's stuff that won't bother them and gets better, it was an old scar and was still kind of fresh. But everything else was there–beautiful horse, all the right angles. And Justify really heated up too, so everything went my way.”

Bred in New York by Chester and Mary Broman, the bay is a son of two-time stakes winner and Grade III-placed Pauseforthecause (Giant's Causeway)

Hip 539 was one of two to breeze a quarter in :20.2 Friday.

“I thought he worked lights out,” Kight said of the colt, who already stands 16.2 in his estimation. “Joe has done a remarkable job with him. Joe thought he was going to be sub-:21 the way he'd been training, so he was pretty optimistic.”

Hip 539 | Photos By Z

McCrocklin At Both Ends of the Speed Spectrum

Tom McCrocklin consigns the afternoon's other :20.2 breezer, a filly by Munnings–Miss Majestic (Majestic Warrior) (hip 453), which he is offering on behalf of Florida breeder Peter Mirabelli.

“She's a beautiful filly, a great mover and she just does everything so smoothly,” he said. “I generally work my horses a quarter-mile just because I think makes for a more composed breed. I am not trying to disparage anyone else, but I find sometimes that the furlong breezes can end up being pretty frenetic. When people see me breeze one that isn't a quarter mile, they tend to raise an eyebrow.”

McCrocklin is also consigning a handful of the 40 2-year-olds in training that are being sold as part of the dispersal from the late Bob Lothenbach, who are just galloping through the stretch.

“I don't think it will be looked upon with skepticism or negatively,” McCrocklin said of the strategy to not ask the horses for any serious effort. “Mr, Lothenbach built and ran a high-class stable. The estate requested that none of the horses breeze, so we are just honoring their wishes, but I don't think it will negatively impact the horses or the way they sell.”

The final under-tack preview is set for Saturday morning beginning at 8 a.m. The March Sale begins Tuesday, Mar. 12 and runs for three days, with bidding beginning each day at 11 a.m. ET. For more, visit www.obssales.com.

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“It was a strong start to the sale,” Fasig-Tipton President Boyd Browning, Jr. said at the close of business Monday. “There was significant increase in average price compared to the first day and the overall sale last year. It was certainly an acceptable RNA rate. The median increased 20% from the first day last year and a little more than that overall.”

During Monday's session, 161 horses sold for $16,975,000. The average was $105,435–up 15.1% from last year's opening session and up 10.5% from the 2022 record-setting overall average of $95,391. The session median was $60,000, up 20% from the opening session figure a year ago.

From 300 catalogued lots, 215 horses went through the ring Monday. With 54 horses reported not sold, the buy-back rate was 25.1%. It was 25.5% last year.

“It's an interesting marketplace,” Browning said. “There is dramatic competition on the 'more expensive' horses in a sale of this nature. You can see the pavilion fill up when a horse is going to bring a couple of $100,000 or more. You see the people come in and you know they are going to bid, and they are going to bid, and they are going to bid. But when a horse is going to bring $25,000, you can see the auction team working their tails off to try to get bidders on those type of horses. So it's an interesting marketplace. It's very, very healthy at the upper end–it's the same trend that we've seen at the other 2-year-old sales this year. We saw it to a lesser extent at the yearling sales last year, with the competition really focused on the upper end. So it's healthy, but it's not euphoric.”

A filly by Mendelssohn brought the session's top price when selling for $800,000 to Speedway Stables. Consigned by Paul Sharp, the session topper was one of 23 to sell for $200,000 or more. Nineteen juveniles hit that mark during last year's opening session.

The Midlantic sale concludes Tuesday with a session beginning at 11 a.m.

Ciaran Dunne, 2023 Fasig-Tipton Midlantic 2 Y-O-in Training Sale | Fasig-Tipton

Speedway Strikes for Mendelssohn Filly
Speedway Stables' Peter Fluor went to a session-topping $800,000 to acquire a filly by Mendelssohn (hip 245) during Monday's first session of the Fasig-Tipton Midlantic May sale. The gray filly, who was consigned by Paul Sharp, worked a furlong in :10 1/5 during Wednesday's second session of the under-tack show last week.

“We thought she was a great physical,” Fluor said of the filly. “We loved her breeze, as everybody else did. She is just a standout. Mendelssohn is on the move, but she just looked like a tremendous athlete to us.”

The juvenile is out of stakes-placed Lady Hansen (Hansen).

“We loved the filly before I even got here for the Preakness,” Fluor said. “[Bloodstock agent] Marette [Farrell] had seen her and had seen her breeze. We just thought she had a huge amount of potential. And we loved her demeanor.”

Sharp, along with pinhooking partner Liz Crow, purchased the filly for $125,000 at last year's Keeneland September sale.

“I really liked her and she carried herself well,” Sharp said of the filly's appeal last fall. “She looked like the type of horse that would do well at a 2-year-old in training sale.”

Of her progression through the winter, Sharp said, “She just did everything we could have asked for. She was one of my favorite fillies that we had on the farm all year. She's just done everything right.”

Hip 245 was the second purchase of the afternoon for Fluor and K.C. Weiner's operation, which went to $500,000 to acquire a colt by Not This Time (hip 198) from the Pick View consignment.

“He had a nice breeze (:10 3/5), not an incredible breeze, but a great physical and his mind is in the right place,” Fluor said. “We liked the way he handled it. He's a young horse–I think he's a May foal–so we will give him a little time and maybe shoot for maybe September, October for the races.”

Both juveniles will be trained by Bob Baffert.

Fluor admitted Speedway has been targeting fillies who might join the operation's fledgling broodmare band after their racing careers.

“We are predominately looking for fillies, but we look at other horses too. That's why we bought the Not This Time colt,” Fluor said.

While still in its early stages, the Speedway breeding operation enjoyed sales ring success with its first crop of yearlings last summer when selling a daughter of Tapit (hip 72) for $750,000 at the Fasig-Tipton Saratoga sale.

“We kind of backed into the breeding,” Fluor said with a laugh Monday. “When we retired some fillies, K. C. Weiner, my partner at Speedway, asked what we would do with this filly. We said, 'Well, we can sell her or we could breed her.' He said he'd do whatever I wanted to do, and I said I don't care, we can do whatever you want to do. We never made a decision, so we bred her. That's how we got into the breeding business.”

Awesome Slew Colt Lights Up Midlantic
A colt by Awesome Slew (hip 91), who became the first of the under-tack show to work a furlong in the co-bullet :10 flat last week, caused the first fireworks of the opening session of the Fasig-Tipton Midlantic May sale when selling for $700,000 to the partnership of WinStar Farm's Maverick Racing, Siena Farm and CMNWLTH.

“We just loved him,” said WinStar's Elliott Walden. “We thought he was the best horse in the sale. We loved his breeze. We are happy to get him, but it was a lot. We thought like he would be in that $500,000 to $700,000 range, so he was in the top end of that range.”

Following his bullet breeze, the colt did have trouble navigating the turn on the Timonium oval last Tuesday.

“He was going so fast, he didn't make the turn,” Walden said. “So it's a good and a bad thing. But he just seemed like a really nice colt.”

The Commonwealth partnership pioneered by Chase Chamberlin and Brian Doxator has already famously enjoyed success with graduates of the Midlantic sale. They partnered up on 2022 graduate and now GI Kentucky Derby winner Mage (Good Magic).

Hip 91 is out of Cash Reserve (Distorted Humor) and is a half-brother to stakes-placed Reckling (Dialed In) and Campy Cash (Race Day). He was consigned by Tom McCrocklin, who purchased him for $150,000 on behalf of Michael Sucher's Champion Equine at last year's Ocala Breeders' Sales Company's October Yearling Sale.

“I literally recall telling Michael Sucher that I thought he was the best horse in the [OBS] sale,” McCrocklin said following the colt's work last week.

The colt's yearling price tag made him the most expensive yearling by Awesome Slew to sell last year. He is now well on his way to being the stallion's most expensive 2-year-old of 2023. Awesome Slew stands at Ocala Stud for $4,000. His first crop of 2-year-olds were led in the sales ring last year by a colt who sold for $400,000 to Klaravich Stable at OBS March.

Sucher's multiple pinhooking successes with McCrocklin this spring are led by a son of Arrogate who sold for $1.050 million and a filly by Munnings who sold for $1 million, both at the OBS March sale. At the same sale, McCrocklin sold a daughter of Arrogate, purchased on behalf of Sucher for $250,000 at the Keeneland September sale, for $950,000.

Hip 186, 2023 Fasig-Tipton Midlantic 2 Y-O-in Training Sale | Fasig-Tipton

Uncle Mo Filly to LNJ Foxwoods, NK Racing
A filly by Uncle Mo (hip 186), who turned in a flashy :10 1/5 work last week, delivered in the sales ring Monday in Timonium when selling for $625,000 to the bid of bloodstock agent Alex Solis. Solis was bidding on behalf of a partnership of the Roth family's LNJ Foxwoods and Nancy Favreau and Kathy Psoinos's NK Racing.

“She's a beautiful Uncle Mo filly with a big pedigree, out of a Blame mare,” said Solis. “So for us it made sense from a pedigree perspective and her breeze was phenomenal. I think I gave out three stars for the whole breeze show and she was one of them.”

The filly will be trained by Brad Cox, who trained champion Covfefe (Into Mischief) for LNJ Foxwoods.

The bay filly is out of Gabriellestoblame (Blame), a half-sister to GI Kentucky Derby winner Nyquist (Uncle Mo). She was consigned by Pick View, as agent for her breeder, Bridlewood Farm.

Tapit Colt to Young
A colt by Tapit (hip 250) will be joining the barn of trainer Todd Pletcher after bloodstock agent Steve Young purchased him for $600,000 on behalf of an undisclosed client. Consigned by Julie Davies and bred by Gainesway, the juvenile is out of Lady Pewitt (Orientate) and is a half-brother to champion Jaywalk (Cross Traffic) and to multiple stakes winner Danzatrice (Dunkirk), the dam of this year's GI Toyota Blue Grass S. winner Tapit Trice (Tapit).

“He is arguably the best bred horse in the sale,” Young said. “He has a lot of similarities to some of the good Tapits that I have bought. I think he has a sire's pedigree. He trained great. It was a challenging track and a challenging week for people buying and selling and he was the one we wanted.”

Young compared the colt to Anchor Down, another son of Tapit out of an Orientate mare, whom he purchased for $250,000 at the 2012 Keeneland September sale. Anchor Down was a multiple graded stakes winner for Alto Racing.

“Anchor Down was a terrific horse, maybe not the luckiest horse who ever lived, but a Grade II winner nonetheless,” Young said. “[Hip 250]'s got subtle things that make you like him even more every time you look at him.”

Looking ahead for the colt, Young said, “He was a popular horse here. He had a lot of shows. He's going to get a chance to catch his breath and then he will go to Todd Pletcher.”

Not This Time Colt Pays for Pick View
Just a few hips after selling a filly by Uncle Mo for $625,000 on behalf of Bridlewood Farm, Joe Pickerell's Pick View hit a pinhooking home run when Speedway Stables purchased a colt by Not This Time (hip 198) for $500,000. Pick View had purchased the gray for $260,000 at last year's Keeneland September sale.

“That's a step up for us, that's getting us out of our comfort zone a little bit,” Pickerell said of the colt's yearling price tag. “But when you find one that looks like him with that pedigree, you just go for it. Fortunately there are some amazing partners on this horse that are very close friends and family.”

The colt is out of the unraced Goodness Unbridled (Unbridled's Song) and is a half-brother to stakes-placed Chart Topper (Leroidesanimaux {Brz}).

His trip to the sales ring was not without a little hiccup, following a furlong work in :10 3/5 last week.

“That was not the best day of his life,” Pickerell said of the work. “The best thing about it was that we've been doing it long enough that we have some people who trust our word, people who saw him at the farm and saw him progress through the winter. And we all knew there was a lot better in him. He's a young 2-year-old, they are allowed to have a bad day, but one bad day does not negate from September to now. We always said if we can get him on the shank in front of people, they are going to fall in love.”

The colt went through the ring shortly after Pick View sent out Bridlewood Farm's homebred Uncle Mo filly to sell for $625,000.

“Bridlewood raised her and they did a great job and then George Isaacs was gracious enough to let me take her for the training part,” Pickerell said. “She's an Uncle Mo, who needs no introduction, and then that female pedigree is probably one of the better pedigrees in the sale. When they work like she did, it's just who is going to be the last one standing. She's one that, you want not only on the racetrack, but if you're racing fillies and breeding, that's the kind of filly you want for the long term. So not only is she going to be a phenomenal racehorse, but we really look forward to her down the road as a broodmare.”

Also Monday afternoon, Pick View offered a filly by Tapit (hip 156) who sold for $250,000 to Charlie Allen. The bay, who is out of multiple stakes winner Enchanted Ghost (Ghostzapper), was purchased by Hoby and Layna Kight for $150,000 at the Keeneland September sale. She worked in :10 1/5 before selling to Remount Thoroughbreds for $200,000 at the OBS March sale.     “We sold her for a client who bought her in March,” Pickerell said. “It's a little different group [that bought her in March].”

The filly worked in :10 2/5 last week in Timonium.

“She's another filly with a bright future,” Pickerell said. “She's just a tiny little bit of vet work away from them paying $1 million for her. She's by Tapit, a beautiful filly, she breezed at two 2-year-old sales sound. We just need these buyers to have a little more confidence in horsemanship and a little less confidence is some of these new state-of-the-art diagnostics.”

Omaha Beach Colt Heads West
A colt from the first crop of Omaha Beach (hip 93) will be heading to Southern California after trainer Mark Glatt signed the ticket at $425,000 to secure the juvenile on behalf of an undisclosed client Monday in Timonium.

“He's a beautiful horse who worked well,” Glatt said. “The Omaha Beaches have presented themselves well. He had a strong bottom side and he looked like an athletic horse. He just looked like a horse you could right on with. We are really pleased to get him.”

The colt, who was bred by Castleton Lyons and Kilboy Estate, is out of multiple stakes winner Catch My Fancy (Yes It's True) and is a half-brother to stakes winners Dubini (Gio Ponti) and What a Catch (Justin Phillip), as well as to Catch the Moon (Malibu Moon), who produced Grade I winner Girvin (Tale of Ekati) and graded winner and multiple Grade I-placed Midnight Bourbon (Tiznow).

Consigned by Wavertree Stables, the chestnut worked a furlong last week in :10 2/5.

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“He's a very fast horse,” McCrocklin said Tuesday. “I was not surprised to see him work like that. He showed up here and breezed very well.”

The bay colt is out of Cash Reserve (Distorted Humor) and is a half-brother to stakes-placed Reckling (Dialed In) and Campy Cash (Race Day).

“I literally recall telling Michael Sucher that I thought he was the best horse in the [OBS] sale,” McCrocklin said.

Asked if he was surprised by the colt's final price last fall, which made him the most expensive of eight yearlings by his sire to sell in 2022, McCrocklin said, “It was just a very difficult year to buy yearlings. If you had a nice physical horse there was plenty of money out there to buy them. So I wasn't terribly surprised. And it kind of felt like we were going to buy the horse–it didn't feel like a huge stretch. It wasn't one of those 'it was my last bid' stories.”

With the absence of the Fasig-Tipton Gulfstream Sale from the calendar this year, the Fasig-Tipton Midlantic May sale and the inaugural Midlantic June sale next month in Timonium are the only major juvenile auctions to feature works over a dirt track. The appeal of that surface led McCrocklin to take a 33-horse consignment to Maryland.

“I think buyers like it because they race on dirt predominately,” McCrocklin explained. “I think it gives them a little more confidence. You saw from the times today, it takes a very fast horse to go :10 flat here. Where at OBS on the synthetic racetrack, it's not unusual to see :10 flats all over the place.”

Of the 10 juveniles to work a quarter-mile Tuesday, a colt by Flameaway (hip 15, video) consigned by LG, agent, and a colt by Nyquist (hip 126, video) consigned by Top Line Sales shared the bullet time of :21 3/5.

Top Line Sales also sent out a juvenile by Lookin at Lucky (hip 89) to share the session's second-fastest furlong time. The New York-bred colt, a homebred for Top Line's Torie Gladwell and Jordan Wycoff, turned in a flashy :10 1/5 work during the day's second set.

A bay filly by City of Light (hip 174), who is a half-sister to graded winner The Tabulator (Dialed In), powered through her :10 1/5 work for Steve Venosa's SGV Thoroughbreds.

Becky Thomas's Sequel Bloodstock, which was responsible, not just for last year's $3.55-million May sale topper, but also for GI Kentucky Derby winner Mage (Good Magic), sent out a filly by Munnings (hip 160) who worked the furlong in :10 1/5 in the day's third set.

A pair of juveniles from the first crop of Maximus Mischief shared the second-fastest furlong time Tuesday, with Bryan Ford Training Stable sending out a filly (hip 69, video) and Cary Frommer sending out a colt (hip 125, video) by the graded stakes winner.

The day's six :10 1/5 works also included a filly by Uncle Mo (hip 186). Consigned by Pick View, LLC, the bay is out of Gabriellestoblame (Blame), a half-sister to GI Kentucky Derby winner Nyquist (Uncle Mo). She was bred by Bridlewood Farm.

The under-tack show continues through Thursday with sessions beginning each day at 8 a.m. The Midlantic May sale will be held next Monday and Tuesday. Bidding commences at 11 a.m. for both sessions.

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“He has done things on the racetrack that only a few horses have done that we had our hands on,” said Joe Pickerell of consignor Pick View. “We were going to be very disappointed if he didn't work like that.”

Bred by St. Elias Stable, the gray is out of Sweat and Saddle (Speightstown), a daughter of GSW & MGISP Well Monied (Maria's Mon). This is also the family of GSW & GISP Economic Model (Flatter) and Will's Secret (Will Take Charge). An $82,000 KEENOV buy, he was picked up by the Pick View team for $120,000 at KEESEP.

“We obviously liked quite a bit about to stretch on him,” Pickerell said. “The whole team kept landing on this horse. He is a good mover with a lot of stretch to him. He was a horse we felt would not only handle the 2-year-old sale well, but go on to do some good things. We've always been a big fan of Harlan's Holiday and with Speightstown on the bottom, it made him extra attractive. The intelligence this horse has is probably his biggest strength. Not only is he wicked fast, but the amount of class he has has been fun to watch.”

He continued, “Scott Mallory did a great job with him at the yearling sale and we had to do was keep him looking that good and keep him growing. That is exactly what he did. He is a bigger version of what we bought.”

The fastest furlong was achieved by a Bayern colt (Hip 139), who went in :9 3/5 for Really and Truly Thoroughbreds. Bred in Florida by Caperlane Farm, he was picked up by Rubin Sanchez for $12,000. The colt's second dam is SW & MGSP Amie's Dini (Bandini).

The under-tack show was cut off early due to poor weather and the final set will be worked into Friday's breeze show, which starts at 8 a.m.

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“The hope was that we would return to previous levels, essentially like last year never happened,” said Keeneland director of sales operations Cormac Breathnach. “Last year was a good sale for the time we were living in, but this year is a massive return to a vibrant market.”

The sale average of $132,045 was up 30% from the 2020 figure and bettered the previous mark of $129,331 set in 2018. The median of $65,000 was up 75.68% from a year ago and broke the previous record figure of $57,000 set in 2017.

“If you look at the median, the median is just consistently very strong, which is an important indicator for the health of the market in general,” said Keeneland's vice president of sales Tony Lacy. “It's not crazy spikes where we are getting one horse selling for multiple millions and every other horse selling for below that. The median is the most important number for us as we look at the health of the industry.”

The record clearance rate of 19.01% improved on the figure of 19.2% set in 2012 and far surpassed the 2020 figure of 29.29%.

“When we see the clearance rate the way it is–we are breaking records almost on a daily basis for the number of horses sold through the ring–I think it was 325 sold through the ring Wednesday. That's just a remarkable number,” said Lacy. “The clearance rate is a very clear indicator of the strength of where we are at.”

Fueled by colt-buying partnerships, the September sale returned to its pre-pandemic levels, surpassing its total 12-session 2020 gross after just six of 11 sessions this year.

The New York-based partnership of Mike Repole and Vinnie Viola, represented by bloodstock agent Jacob West, led all buyers with 43 yearlings purchased for $16,045,000 and was followed by the Southern California-based team of SF Bloodstock, Starlight Racing and Madaket Stables, represented by Donato Lanni, which purchased 24 head for $10,590,000. Also making a big impact on the result sheets was the BSW/Crow Colts Group, which purchased 20 yearlings for $6,805,000.

West Point Thoroughbreds partnered up to purchase the auction's top three lots, teaming with Woodford Racing and Mike Talla to acquire the sale-topping $1.7-million son of City of Light; with Woodford Racing on a $1.6-million son of Quality Road; and with Talla on a $1.55-million colt by Triple Crown winner Justify.

Through various partnerships, West Point purchased 25 yearlings for $11,315,000.

Partnerships to the Fore

Sheikh Mohammed's Godolphin operation and the Shadwell Estate Company of his late brother Sheikh Hamdan were the leading buyers at both the 2018 and 2019 auctions, but with those entities largely absent the last two years, American-based partnerships have filled the gap.

In 2019, Godolphin purchased 10 yearlings for $16 million and Shadwell purchased 18 head for $11,070,000. With Godolphin not appearing on the results sheets and Shadwell coming in as the fourth-leading buyer in 2020, the SF Bloodstock/SF/Madaket partnership led the standings a year ago with 28 bought for $11,250,000, while Repole and Viola were the auction's second-leading buyer with 15 purchased for $6,380,000.

The Repole/Viola axis came out on top in 2021, purchasing 43 yearlings for $16,045,000.

“We didn't necessarily have a plan in a sense of price ranges or numbers outside of just a certain type of horse we wanted to buy,” bloodstock agent Jacob West said. “The idea was just to buy as many two-turn Classic-distance type horses as we could. And I think that's pretty evident in the results when you go through and look at what we bought. There were a handful of horses, we bought one Karakontie colt and a couple of other ones and those were just athletes that we liked and we ran by Vinnie and Mike and they got on board with them. But the majority of the horses we bought were two-turn dirt horses, hopefully.”

Of the group's total haul from the September sale, West admitted, “I think if you held a gun to Mike and Vinnie's heads early on and asked if they were going to buy 43 horses, I don't think they would have said yes. But we never discussed a number and we never discussed a budget, to be quite honest. I know that doesn't make for good reading material, but we just went in there with the idea of trying to identify the best horses we could and secure the best horses we could.”

As partnerships among top buyers began to grow several years ago, there appeared to be some concern that the teaming up of people who had previously competed against each other in the sales pavilion would keep prices down, but as more and more partnerships form, the opposite seems to be happening.

“I think now you are seeing more and more partnerships all targeting the same thing,” West said. “And with the demand up for those horses, the prices in turn go up. And then there is a trickle down effect because that gives other people that wouldn't be targeting those horses the opportunity to buy horses that we may have passed on for whatever reason. It's kind of one of those rising tides rise all boats theory. When there are guys willing to spend more money, I think it opens up more opportunities for buyers.”

Consignor Peter O'Callaghan of Woods Edge Farm agreed the proliferation of partnerships was a plus for sellers.

“There is a lot of money pooling together in different groups and they are bidding for the good horses,” O'Callaghan said. “I think there is no question that they are helping now. There was a period where you felt like they were teaming up a bit, but I think there is a depth of partnerships now. Different money is pooling together in different groups and they are all bidding against each other. It's a new sort of competition. Long may it continue and I hope they all have success.”

Of the impact that partnerships had on the sale results, Keeneland's vice president of sales Tony Lacy said, “They are extremely important. I know that Jacob West is buying into Book 4 for the same partnership and Donato is doing the same thing. It's a recognition that people want nice horses and they are supporting every level of the market. And I think that's very encouraging. I think as you look, it's great what you find from syndicates like MyRacehorse all the way through to a partnership of two people. I think you see that the spreading of risk, but buying a large number of horses is incredibly healthy. And it allows people to have fun in a way that is probably more affordable and more viable for the long-term health of our industry. I would love to see more of it because the more people who get involved, the more fans, the more followers, that organically creates a fan base. And if we can encourage and incentivize more people to get involved that way, I think it's also an incubator for people who want to do it for themselves. I applaud it and welcome it strongly.”

A Little Less Top Heavy

There were 15 seven-figure yearlings sold at the 2021 September sale–led by a $1.7-million son of City of Light– matching the number from the 2020 sale which was topped by a $2-million colt by Tapit. In 2019, 22 yearlings sold for a million dollars or more, with seven over $2 million, including an $8.2-million filly and a $4.1-million colt.

With major buyers from years past on the sidelines, the top of the market may have been a little less top, but that may make for a healthier marketplace, according to Keeneland's director of sales operatioins Cormac Breathnach.

“We view that as a positive, to be honest,” Breathnach said of his view of the top of the market. “For some years, the middle was suffering, but the upper market, the top 1% or 2% of horses were selling well. So averages looked good, but sometimes the median suffered and the RNA rates were higher. The spread of that equity and that response to the horses the breeders are supplying us with is very strong. It's very positive for the market and for the players in the industry that are hopefully getting a good pay day here at the sales. So I think, as much as we would like to see the continued participation in the multi-million dollar level–there is nothing wrong with that at all–but it's probably more valuable to have the really healthy middle market with plenty of million-dollar horses up top.”

Consignors found plenty of strength in the middle market, which many had found soft in years past.

“I thought [the sale] would pick up steam as the books went, and it did,” said Gainesway's Brian Graves. “The middle market has been the strongest part of the market for horses all year long, and [the September Sale] just proved that there's a lot of people in the middle. There's a good stable, solid domestic market out there right now, and that's good for all of us.”

While the cumulative buy-back rate for the entire auction was a sparkling 19.01%, the Book 1 buy-back rate was 34.2%.

That figure wasn't a concern for Keeneland's Tony Lacy, who attributed it to high-end breeders who were happy to race their yearlings.

“If you look at Book 1 and 2, a lot of people were very active in there,” Lacy said. “If you speak to the vets, the vets have never been busier. I spoke to one vet who vetted almost every horse in Book 1 just for clients that he had. I think you'll find that some people who were selling were protecting their horses quite heavily and that was their right. That they are wanting to race if they don't get a certain valuation is showing the strength of the support and belief they have in their horse.

Lacy continued, “If you look at the median and averages for Book 1, it's pretty much double Book 2. So the quality was there–there were certainly a number of outs that were never on the grounds for whatever reason. I think we have to look at it in a more holistic way rather than just the final number. Because I think you'll find there is more to the story when you have buyers who are very diligent in their selection process. And it's not just a raw figure, 'Well, they didn't like them.' I think every horse got heavy traffic and was strongly considered. I think we want to try to build the market for horses in that price range. I think as you get some of those partnerships coming together, you want to build that model for a greater number of horses at that price level.”

Buy-Back Rate a Positive

The back walking ring at Keeneland remained crowded right to the end of the 11th session Friday and trade was conducted at record levels. At the close of business, the buy-back rate was just 19.01%, bettering the previous mark of 19.2% set in 2012. It was 29.29% in 2020 and 24.24% in 2019.

Records were twice set for number of horses sold through the ring during a single session: 319 in session seven followed by 325 in session nine.

“I think that the biggest positive along the lines of maybe being a surprise is the clearance rate,” Keeneland's Cormac Breathnach said Thursday. “The clearance rate is outstanding. We are running at 8% or 9% buy-backs the last two days. That's rare in any market. There are a lot of happy sellers and happy breeders out there and that's a great sign for the industry.”

He continued, “And overall, the post-sale RNA market is extremely strong. We have about 110 published RNAs to sale already, but there are others that didn't get in the published results, so we have a very strong market in the RNA to sale area as well. And that's going to continue. It's only going to grow in the next day or so.”

Economics Make Sense for End-Users

Strong purse structures across the country, plus racing's increased exposure to new players, created a September buying bench dominated by domestic end-users.

“One of the most encouraging things from the sale has been the activity of domestic end-users and for a very long time that has been something that we wanted more of,” Keeneland's Cormac Breathnach said. “With purses being up, the energy around the sport and increased exposure at a time when other sports were shut down feels like it is paying off in a tangible way here at the sales. There was a lot of new money. The sale itself has been so strong despite the lack of participation from some very wealthy supporters in years past. So that has been very encouraging. The international market is not taken lightly and it's really stepped up, but the domestic end-users market I think is what pushed a lot of the buyers back in the later books.”

The 2021 results reflected a shift in the economics of the industry, according to bloodstock agent Jacob West.

“I think the economics of horse racing have changed in the favor of horse ownership,” West said. “We have four or five tracks that are running maiden special weights for $100,000 or more. I think we are second to Australia in million-dollar races here in America. We trump everything that is overseas outside of Australia. They can't even compete with us. Their maidens are like £10,000. They are nowhere near where we are here even at some of our lower level tracks. The prize money that is on offer in the United States is very strong right now and we just have to keep that going. If we can keep that going then more people will be willing to spend.

West continued, “There is another factor, too. Though there is a reducing foal crop year after year, there is still an appetite for horse racing. And supply and demand and availability comes into play. Fewer horses but higher demand equals higher prices.”

Racing is reaping the benefits of increased exposure during the pandemic, according to consignor Peter O'Callaghan.

“Horse racing did a great job managing COVID and staying going through COVID,” O'Callaghan said. “I think we captured a lot of new fans there with the FOX coverage, which has been great, and exposing us to a much greater audience and helping bring in new people and new money. And then betting handle is through the roof everywhere. Purse money is getting better and better and it's exploding. And we are seeing the effects of all that this week.”

With plenty of added competition from end-users, pinhookers found buying at the September sale extra tough this year.

Veteran pinhooker Ciaran Dunne said his team found the competition at the September extra tough as they vied with the various powerhouse partnerships for the top-level colts, while finding value by focusing on individual over pedigree was difficult with the fillies the group tried to buy.

“The sale was unbelievably tough,” Dunne said. “Colts were virtually impossible to buy and even the fillies with physical you wanted were incredibly expensive. It seems the emphasis is all on physical now, which makes our job nigh on impossible.”

Pinhooker Joe Pickerell's Pick View purchased 10 yearlings for $972,000 during the September sale.

“From top to bottom, there was a lot of competition for horses in all price ranges and at all levels,” Pickerell said “It was a little tough in the beginning, but then we started finding spots and getting horses bought. We ended up being really pleased with how it turned out overall.”

Pickerell continued, “Between foal crop being down and the purse structure higher, end users were buying in later books compared to past years.”

The Pick View team, which shopped from Book 2 through the end of the sale, stuck to its original plan despite the increased competition.

“I think it's very important that we don't panic, stay patient and stick to our program,” Pickerell said. “We got a little frustrated early, but then we reassured ourselves to just stick to the program and stick to what we've got to buy. We ended up prevailing and got some really nice horses bought.”

Format Draws Praise

Keeneland has been tinkering with the format of its September sale for several years now, but drew positive reviews for its 2021 format which featured two-session books and a dark day following Book 2.

“The consignors and the sellers were very happy to have 1,100 horses on the grounds prior to the dark day,” said Keeneland's Cormac Breathnach. “It was really something that, combined with the new atmosphere in the pavilion and some of those changes created the energy at the start of the sale–the champagne, the various hors d' oeuvres that were being passed around–that really worked in the sense that it kicked the sale off in a very positive way and it created a lot of momentum. That momentum set the tone for Book 1 and into Book 2 and so on and it's really carried on.”

On the other side of the ledger, Breathnach said, “Every buyer commented that they were appreciative of the number, the critical mass, of horses they had to look at. And they felt like the dark day really allowed them to get ahead, so they weren't playing catch up. They had a lot of horses on the grounds, but in a way that they could get through them and evaluate them and take their notes and not miss any. From that point of view, I really think that the format is tremendously successful this year and was definitely a factor in the success of the sale.”

Consignor Peter O'Callaghan of Woods Edge Farm agreed Keeneland hit upon the right format for its mammoth September sale.

“They got this Book 1 right, a little bit by accident, because there was a promise of three days and they managed to fill it properly with two days,” said O'Callaghan. “The trick now is to maintain it–keep this Book 1 right and keep enough horses in it for a two-day format followed by the two-day format all the way through. And having moved their dark day worked out really well. If they can keep this Book 1 right, the rest of it takes care of itself. It all starts with Book 1, they just need to maintain this now and keep it.”

While Jacob West was happy overall with the format, he had one possible adjustment.

“At the end of the day, I pray to God they don't change it,” West said. “We have had so much volatility in the format with Keeneland over the last couple of years and I think they got it right this year. If I had one small change, you didn't see a decline in prices, but going into Book 2, the change from 1 p.m. start time with Book 1 into the 11 a.m. start time, we had that one day where it was just raining all day long and we were scrambling to try to catch up. I wish they would have had some sort of flexibility in that day to push the start time back an hour or two to allow people to catch up. With more horses going into Book 2, I wish we had an hour or even two. That makes a big difference. You can look at 50 horses in an hour, if you're rolling through them and you're organized and you can get to the right consignments at the right time. More time equals more research  you can get done.”

Indian Creek's Shack Parrish would like to see the September sale kick off with an even more select Book 1 section.

“To me, we still need to work out the Book 1 thing,” Parrish said. “I think one day of Book 1 and being very, very select might work better than trying to place some in there that are overwhelmed by the strength of the other horses. I think it would be easy enough to do that.”

Familiar Names at the Top

Taylor Made Sales Agency was the leading consignor at the September sale for the seventh straight year. The operation sold 304 yearlings for $37,306,500.

For the second year in a row, Spendthrift Farm's Into Mischief was the leading sire by gross, with 62 yearlings selling for $25,967,000.

Into Mischief was followed by a pair of first-crop sires with Triple Crown winner Justify represented by 61 yearlings sold for $22,431,000 and City of Light, who had 47 sell for $17,525,000.

Into Mischief had three yearlings sell for seven figures. City of Light was represented by a pair of million-dollar yearlings, led by the $1.7-million sale-topping colt consigned by Rosilyn Polan's Sunday Morning Farm, and that number was matched by his sire Quality Road. Claiborne's War Front also had two yearlings surpass the $1-million mark.

South Point, Herbener Teams Carry On

The Keeneland consignor ranks were hit by a pair of tragedies during the September sale, with South Point Sales Agency's Mike Recio and consignor James Herbener both passing away.

“I think there needs to be a special recognition of the teams at South Point and with Jim Herbener,” Jacob West said. “They were absolutely blind sided by tragic events. Mike [Repole] and Vinnie [Viola] bought one Arrogate colt off of South Point, hip 830. It's one of those deals where we bought the horse because we liked him, but it did mean a lot to support South Point and the team that kept the flag flying for the Recio family after his passing. I do want to make sure there is some special recognition to those teams for sure.”

Silent Name Filly Tops Keeneland Finale

A filly by Silent Name (Jpn) (hip 3807) brought the top price of Friday's final session of the Keeneland September sale when selling for $120,000 to Bill and Anne Scott. The yearling, one of two to bring six figures on the day, was bred by Adena Springs and consigned by Hidden Brook. She is out of graded stakes winner Ice Festival (Awesome Again).

In all, 244 yearlings sold at Keeneland Friday for a total of $3,937,500. The session average was $16,137 and the median was $12,000. With 256 of 453 catalogued head going through the ring, just 12 horses were reported not sold for a buy-back rate of 4.69%.

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• Hip No. 925, consigned by Pick View LLC, Agent, is a bay colt by Not This Time out of stakes winner In a Jif, by Saintly Look, from the family of graded stakes winner Chin High.
• Hip No. 996, a gray or roan colt by Valiant Minister consigned by S G V Thoroughbreds LLC (Steven Venosa), Agent, is out of La Nonna, by Unbridled's Song, from the family of champion Apelia.

Five horses worked quarters in :21 flat.

• Hip No. 840, a dark bay or brown colt by Medaglia d'Oro consigned by Eddie Woods, Agent, is a half brother to stakes placed Tapped out of graded stakes winner Gemswick Park, by Speightstown.
• Hip No. 952, consigned by Pick View LLC, Agent, is a dark bay or brown filly by Frosted out of Jeanne's Speight, by Speightstown, a full sister to stakes winner Going to Kukaro.
• Hip No. 998, a bay filly by Uncaptured consigned by Victory Stable, Agent, is out of La Parcela, by El Corredor, a half sister to graded stakes placed stakes winner Aheadbyacentury.
• Hip No. 1009, a dark bay or brown colt by Practical Joke consigned by Eddie Woods, Agent, is a half brother to graded stakes placed stakes winner Battle Force out of stakes placed Leo's Pegasus, by Fusaichi Pegasus.
• Hip No. 1011, consigned by Blue River Bloodstock, Inc., Agent, is a bay filly by Hit It a Bomb out of Lightning Twice, by Malibu Moon, a full sister to graded stakes winner Kauai Katie.

Five youngsters tied for the session's fastest eighth, stopping the timer in :9 4/5.

• Hip No. 866, consigned by Off the Hook LLC, Agent, is a dark bay or brown filly by Temple City out of Grande Mocha, by Grand Slam, from the family of graded stakes winner Golden Sonata.
• Hip No. 889, Make Out, a bay filly by Outwork consigned by Bobby Dodd, Agent, is out of Hatteras, by Stormy Atlantic, a daughter of graded stakes winner Summer Wind Dancer.
• Hip No. 917, consigned by Scanlon Training & Sales, Agent, is a dark bay or brown filly by Uncaptured out of Hug Me Tight, by With Distinction, a half sister to graded stakes winner Wall Street Wonder.
• Hip No. 955, a chestnut colt by Practical Joke consigned by Julie Davies, Agent, is out of graded stakes winner Jenny's So Great, by Greatness, from the family of grade one stakes winner Supah Gem.
• Hip No. 975, consigned by S G V Thoroughbreds LLC (Steven Venosa), Agent, is a dark bay or brown filly by Fury Kapcori out of Kiana Believes, by With Distinction, a half sister to stakes placed Houngun.

The under tack show continues Saturday morning at 8 a.m. with Hip No.'s 1015 – 1217 scheduled to breeze.

The post Not This Time, Valiant Minister Colts Fastest At OBS Spring Sale’s Fifth Under Tack Session appeared first on Horse Racing News | Paulick Report.

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“I remember Valiant Minister when he sold here,” said SGV Thoroughbreds' Steve Venosa, who consigns Hip 996. “Eddie Woods had him and he topped the sale. He went out to Bob [Baffert] and unfortunately the horse only had one race, but he ran tremendous.”

Donato Lanni purchased Hip 996's dam La Nonna (Unbridled's Song) on behalf of Baoma Corp. for $72,000 at Keeneland January. This colt is her first foal and Venosa snatched him up for $40,000 at the OBS October Sale.

“I came into the October Sale at OBS and Lisa McGreevy at Abbie Road Farm had him,” Venosa said. “I went to look at all of the Select horses and I really loved this colt. He was the only horse I wanted to buy and I bought him for my partnership.”

The horseman continued, “He was always very forward from the first day we put the tack on him. He did everything right and had a great mind about him.”

Venosa was very pleased with the colt's sharp work Friday (video).

“You never know until you lead one up there,” Venosa said. “The track has been interesting this week. The first day was canceled because we had a lot of rain. Then Monday the track didn't look like it's normal self early, but it righted itself the second day. It's been kind of crazy. I think the wind yesterday really affected a lot of horses.”

He continued, “We were watching the weather and monitoring the rain coming. We had two going today and crossed our fingers the weather would cooperate. We were going back and forth between working a quarter or an eighth, but we figured we'd go ahead and send him a quarter. He is plenty fit enough. We knew he'd go up there and perform and he did.  Everybody back at the barn was excited. We have a great team and you are only as good as your team.”

The other :20 3/5 worker Friday was Hip 925, a colt by Not This Time, from the Pick View consignment.

“We were expecting a really good work out of him,” said Pick VIew's Joe Pickerell. “He is a big, strong, mature, classy colt, who has been one of our fastest horses on the farm all year. We were pretty confident he would work well if he duplicated what he has been doing all year.”

There were also five fillies to work a bullet eighth in :9 4/5: Hip 866, a daughter of Temple City (video); Hip 889, a filly by Outwork (video); Hip 917, an Uncaptured filly (video); Hip 955, a daughter of Practical Joke (video); Hip 975, a filly by Fury Kapcori (video).

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Hip No. 48, a son of Violence consigned by Kirkwood Stables, Agent went to Spendthrift Farm LLC. The dark bay or brown colt, whose eighth in :9 4/5 was co-fastest at the distance at Thursday's Under Tack session, is out of Lemon Belle, by Lemon Drop Kid, a half-sister to Grade 1 winner Unrivaled Belle.

Hip No. 216, a daughter of Munnings who worked an eighth on Friday in :10 flat was sold to Donato Lanni, Agent. Consigned by Eddie Woods, Agent, the bay filly is a half-sister to graded stakes-winning OBS graduate Aegean out of Show Me, by Lemon Drop Kid.

Hip No. 163, a son of Unified consigned by Wavertree Stables, Inc., (Ciaran Dunne), Agent, was sold for $530,000 to Carolyn Wilson. The dark bay or brown colt, whose quarter on Thursday in :20 2/5 was the sale's co-fastest, is out of stakes winner Promise Me a Cat, by D'wildcat, from the family of graded stakes-placed stakes winner Tempered Halo.

Hip No. 188, a son of Cairo Prince consigned by Harris Training Center LLC, Agent, went to Narvick International for $525,000. The dark bay or brown colt by Cairo Prince, who turned in an eighth on Thursday in a co-fastest :9 4/5, is out of stakes placed Sadie Be Good, by Big Drama, from the family of graded stakes-placed stakes winner It'sallinthechase.

Hip No. 202, a son of War Front who turned in an Under Tack eighth on Friday in :10 flat, went to Ron Ellis for $525,000. The bay colt, consigned by Eddie Woods, Agent, is out of stakes winner Serene Melody, by Street Cry (IRE), a daughter of champion Serena's Song.

Hip No. 243, a son of Liam's Map consigned by Pick View LLC, Agent, was sold to Narvick International for $525,000. The gray or roan colt, who breezed a quarter in:20 3/5 on Friday, is a half-brother to stakes-placed Delia O'Hara out of stakes placed Starlet O'Hara, by Discreetly Mine.

Hip No. 10, a daughter of Into Mischief consigned by de Meric Sales, Agent, was sold to Yuji Hasegawa for $500,000. The bay filly, whose eighth in :9 4/5 was co-fastest on Thursday, is out of stakes winner Island Escape, by Petionville, and is half-sister to graded stakes winner Tricky Escape.

Yuji Hasegawa also went to $500,000 for Hip No. 224, a daughter of Into Mischief consigned by Gene Recio, Agent. The bay filly whose eighth in :9 4/5 on Friday was the session's co-fastest, is out of Sly Warrior, by First Samurai, a half sister to stakes placed Pull Dancer, dam of graded stakes winner Good Samaritan.

Hip No 259, a son of Candy Ride (ARG) who breezed an eighth on Friday in :10 flat, was sold to Yuji Hasegawa for $500,000. The bay colt, consigned by Eddie Woods, Agent, out of stakes winner Supreme, by Empire Maker, is a half-brother to graded stakes-placed stakes winner Silver State, winner of the recent Essex Handicap at Oaklawn.

For the session, 163 horses sold for a total of $18,560,500 compared with 145 horses grossing $12,994,500 at last year's first session. The average price was $113,868, compared with $89,617 a year ago, while the median price was $60,000, compared with $50,000 last year. The buyback percentage was 19.7 percent; it was 39.8 percent in 2020.

The March Sale continues Wednesday, March 17 at 11 a.m. with Hip No.'s 283 – 563 set to go through the ring.

To view the session's full results, click here.

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