Tag: tapit

Keeneland November Closes With Gains in Gross and Average

With the Breeders' Cup returning to Lexington for the third time, headlined by the mighty Flightline (Tapit), the buzz in Lexington was electric from late October all the way through the nearly two weeks of breeding stock sales that followed the World Championships. Combine that with a deep and diverse buying bench and high demand and the result was gains in both gross and average for the 10-day Keeneland November Breeding Stock Sale, which ran from Nov. 7-16.

“With the close of the November Breeding Stock Sale, Keeneland is nearing the end of a remarkable fall season, and we send a sincere thank you to everyone who supported our September and November Sales, Fall Meet and Breeders' Cup,” Keeneland President and CEO Shannon Arvin said. “Since September, we have been hard at work to showcase the best in Thoroughbred racing and sales, and we are privileged to have had the opportunity to share Keeneland with a global audience. Our November Sale benefitted from the excitement of the Breeders' Cup, the sale of the Flightline interest and the fireworks of Book 1, creating positive experiences from start to finish.”

With the Horses of Racing Age Sale being separated into its own one-day auction, to be held Nov. 17, this year, 2,245 horses went through the ring over the last 10 days for gross receipts of $210,027,700. The 2022 November sale eclipsed the gross 2,470 horses achieved during 2021 of $203,585,500 on its eighth day. The cumulative average of $93,554 was up 13.5% from last year's average of $82,423, but the median was down a tick (5.41%) from $37,000 to $35,000. The RNA percentage also rose from 17.36% last year to 21.75% for 2022.

The November Sale was topped by champion Midnight Bisou (Midnight Lute), who summoned $5.5 million from Northern Farm's Katsumi Yoshida carrying her second foal by Tapit. She led a total of 12 seven-figure sellers, compared to seven in 2021, including three in Book 2, which previously had not seen a million-dollar horse since 2017.

“We really put an effort into building up the front end of the catalogue to make sure we have quality forward and the buyers were presented with the horses they expected to see and are here for,” said Keeneland Vice President of Sales Tony Lacy. “I think everybody responded to that. We appreciate our consignors and breeders for supporting us in that endeavor. I think the buyers really responded. It allows us more confidence to do the things we feel are important to do and develop. We are only getting started. Without making major changes at any point, we want to make sure the tweaks we do make work. I think overall we are on the right track. We have a responsibility to the industry.”

 

 

 

Flying Into the Future

Keeneland kicked off the November Sale with a first-of-its-kind offering, a 2.5% interest in unbeaten superstar Flightline, who scored a breathtaking victory in the GI Longines Breeders' Cup Classic two days before the auction and was retired to the Lane's End stallion barn about 16 hours later. Keeneland and Lane's End employed virtual reality and the metaverse for this unique offering and buyers responded enthusiastically. Auctioned 30 minutes prior to the start of Book 1 in a jam-packed pavilion, the Flightline share summoned $4.6 million from Brookdale's Freddy Seitz, acting on behalf of “an undisclosed Seattle-based owner and client with interests in the coffee business,” Sid Fernando reported in his Taking Stock column Nov. 9. Coolmore was the immediate underbidder.

“We are trying to push boundaries all of the time,” Lacy said. “This is a situation where the stars aligned. Bill Farish mentioned that it might be a possibility and we were looking at virtual reality and the metaverse to bring a new customer base or at least a new fan base in. When Flightline won the Pacific Classic, things got real. Coming into the Breeders' Cup, the whole industry was absolutely in awe of what he was and what his future would be as a stallion. To be able to pull something together like that was a mammoth effort on the legal side, as well as the logistics side. It was exciting for us all to be involved in.”

Lane's End's Allaire Ryan expressed similar sentiments, “It was a really unique way to start out the sale and the energy that it brought to the pavilion that afternoon was really fantastic. It had a domino effect on the subsequent purchases made in the sale, when you factor in the number of mares that were purchased specifically to be bred to Flightline. There were a few out of our consignment alone, like Shamrock Rose, Edgeway, Bayerness. Even though he is retired from racing, he is already impacting the industry from a commercial breeder standpoint. That has been an exciting wave to ride for sure.”

As Ryan stated, the retirement of Flightline made quite the impact on the November market. The partners on the no-doubt Horse of the Year were busy scooping up mares to breed to their once-in-a-lifetime horse, as were several other breeders. For example, Flightline's breeder and part-owner Jane Lyon of Summer Wind Farm was third-leading buyer for the sale, acquiring four mares for her new stallion for $4.625 million with an average of $1,156,250. Her purchases were topped by the aforementioned MGSW and GI Breeders' Cup Filly & Mare Sprint runner-up Edgeway (Competitive Edge) for $1.7 million.

Flightline wasn't the only new stallion impacting the November market, however. The partners on MGISW 'Rising Star' Life Is Good (Into Mischief), who gave Flightline all he had through swift fractions for the first mile of the Classic, were also actively acquiring mares for WinStar's new addition. For instance, the China Horse Club bought five mares for a total of $1.75 million for an average of $350,000.

Lane's End Leads All Consignors

Even without the $4.6-million boost provided by Flightline, Lane's End took the title of leading consignor for this year's November Sale. The Farish family's operation sold a total of 129 head, including Flightline's fractional interest, for $23,460,400 with an average of $181,864. Even excepting the share, Lane's End was still the November Sale's top seller. Their top-selling mare was champion female sprinter Shamrock Rose (First Dude), who brought $3 million from Japan's KI Farm carrying a foal by Curlin and is set to meet Flightline next year.

 

 

“It is super gratifying for us to be leading consignor even without the big sale of the Flightline share, which was a really fun way to start out the sale,” Ryan said. “We had some really quality offerings in Book 1 and Book 2, which set us out on the right foot. Where there is quality, there is plenty of depth in the market. People that did bring good horses were rewarded for it, which was great to see. We had some nice broodmare prospects. We had some lovely in-foal mare and a couple of standout weanlings. It had a trickle down effect from there.”

Bisou On Top Again

An Eclipse winner in 2019 and Fasig-Tipton November topper in 2020, MGISW Midnight Bisou was at the head of the class again at this year's Keeneland November Sale. Purchased by Chuck and Lori Allen for $5 million at the aforementioned Fasig sale, she is headed to Japan after bringing $5.5 million from Katsumi Yoshida with a Tapit filly in utero. Midnight Bisou was offered by John Sikura's Hill 'n' Dale at Xalapa, which also sold the $7-million Fasig-Tipton November topper, champion Gamine (Into Mischief), who went to Coolmore's M.V. Magnier in foal to Quality Road.

“It was a great thrill,” said Sikura. “We topped both the Fasig-Tipton and Keeneland sales. All the credit to our team and the people who supplied us with a great draft of horses. It is all about quality and we were fortunate enough to have had a fantastic sale at both sales companies. This is the second consecutive year we topped Fasig-Tipton and it was nice to do it at Keeneland as well. Credit to the horses. We had a good strong market. People can't get enough of quality.”

He continued, “Everyone is very specific about what they like. There are different categories of mares, but if you are going to sell a $100,000 mare, you want it to be an early cover and in foal to the right horse. If you want to sell sale toppers, you need to have pedigree and good race records with those early covers and the right sire. I thought everybody who brought quality was well rewarded. This trend has continued for the last many years and it looks like it is here to stay. ”

Weanlings In High Demand

John Sikura | Keeneland

After a record-setting Keeneland September Yearling Sale, the weanling market was very strong and competitive at the November Sale, producing North America's top-priced weanling for the fourth consecutive year. That youngster was a Medaglia d'Oro filly out of SW Serena's Cat (Storm Cat), dam of champion Honor Code (A.P. Indy), who was purchased for $1.5 million by Magnier.

“In Book 1, we grossed 45% more for weanlings than we did last year,” said Keeneland's Directory of Sales Operations Cormac Breathnach. “We really appreciate the support of the breeders and consignors. We depend on them heavily. Your sale is only as good as the catalogue. It's been a terrific collaboration. The market has been bullish. We are enjoying a good time in the industry.”

That trickled down into the later books, creating a stronger middle market for weanlings with varying pedigrees.

“It is quite hard to sell a mare that is 12-15 even if they had a stakes-placed horse and a few winners,” Sikura said. “If they are good foal, it doesn't matter who they are by, how old the mare is or what their up-close pedigree is. Obviously, the more you have of all of that criteria, the more they make of it. I've seen foals walk through and bring $180,000 and you look at the sire and think, who is this? The pendulum has swung now so much toward the physical horse. I think that is the determining factor at the yearling sales and also at the foal sales. They have to vet. They have to have the smooth physical and great walk. Those kinds, they chase them hard.”

“Where you have quality, you had plenty of people interested,” said Ryan. “If for some reason a mare or weanling didn't tick all the boxes, it felt thinner. It didn't take long for that feeling to set in. I think there was still plenty of good competition in the weanling market, especially for good physicals. People were rewarded at the yearling sales this year and they were looking to reinvest, but they weren't willing to take a lot of risk if it didn't have a top physical or had some vet issues.”

The leading sire of weanlings for the 10-day auction was MGISW 'TDN Rising Star' and new Gainesway sire McKinzie (Street Sense) with 23 members of his first crop bringing $3.162 million with an average of $137,478.

Tapit, Into Mischief Rule Keeneland

Buoyed by the sale of the 2.5% fractional interest in his star son Flightline, Tapit led all sires with a gross of $9,507,000 and average of $365,654. Taking the Flightline share out of the equation puts super sire Into Mischief on top with 31 head bringing $6,961,500 with an average of $224,565.

Hill 'n' Dale's new addition, MGISW 'Rising Star' Charlatan (Speightstown), was the sale's leading covering sire by gross with 27 mares carrying his first foals bringing $8.472 million and averaging $313,778. Lane's End stalwart Quality Road was second with 11 mares carrying his offspring summoning $7.675 million with an average of $697,727, easily tops among sires with five or more in-foal mares sold. Curlin and Tapit each averaged seven figures for their limited in-foal mares.

“Charlatan covered a great book of mares,” Sikura said. “The most elite mares did not go to public auction. I think the momentum is building and we are looking forward to his first foals. He bred outstanding mares.”

 

 

 

Foreign Buyers Boost November Market

A treasure trove of foreign buyers, led by Japan, gave the November market a significant boost, creating even more depth and diversity in the buying bench. Japan's Katsumi Yoshida led all buyers by gross at $9.7 million and average at $3,233,333. Each of the three mares purchased by his bloodstock agent Shingo Hashimoto fetched seven figures, highlighted by sale-topping Midnight Bisou.

“The international market was a critical part of the outcome of this sale,” Lacy said. “Japanese buyers were extremely active, especially at the top, despite the swing in the exchange rate, which is not in their favor. That was extremely gratifying to see. We had buyers from 29 countries participate at the sale. That is on the high end of what we would expect. With the dollar being so strong, it is great to get that international support. It's a global marketplace and we work on that very heavily. We've seen 60 or 70 Australians here, which we haven't seen in years. We've seen Europeans here that have not been in here in six or seven years and they were back and were active. They are energized by what they see. That is very encouraging for us.”

The top 20 horses, including the Flightline share, were purchased by 15 individual buyers, three of which were from Japan.

Domestic buyers also remained active at the November Sale. In addition to the aforementioned Coolmore and Summer Wind Farm, one of the most active American buyers was Pin Oak Stud, recently purchased by Jim and Dana Bernhard. They scooped up 15 mares for their new farm for a total of $4.354 million. Bloodstock agent Chad Schumer bought the most horses during the 10-day auction, taking home 51 head for $3,385,500 with an average of $66,382.

 

 

 

Final Session Stats

Wednesday's 10th and final session of the Keeneland November Sale, which was the third session of Book 5, was topped by a pair of $45,000 weanlings. Upper Mill Stable took home a filly from the first crop of Honor A.P. (Hip 3514) and J. T. Vill purchased a colt by Kantharos (Hip 3545).

A total of 154 horses sold Wednesday for $1,148,600 with an average of $7,458 and median of $3,600. Thirty-three horses failed to meet their reserves for an RNA rate of 17.65%.

Racehorses Moved To A Separate Sale

Horses of racing age have been a traditional part of the Keeneland November Sale, typically being sold in the middle of auction, except for last year when it they were offered during the final session. This year, Keeneland separated that popular section out and made it its own single-day sale to be held Thursday after the conclusion of Breeding Stock Sale.

“For the first year it is its own sale, for several reasons,” Breathnach said. “One is the later entry deadline. It is a more dynamic catalogue. We can give it a greater online presence with more Form, figures and data associated with each offering. That is something that is a little difficult to do when you have an Aug. 1 deadline like we do with the breeding stock sale. We are also confined by the number of horses in each session. Those horses were catalogued in the second half during Book 3 or Book 4, which took up spots breeders wanted their mares or foals to be in.”

He continued, “It is its own sale so it can have its own identity and own dynamic and build a stronger catalogue. It allows it to go forward. The horses in training market is very strong. Our position in the calendar year is when people are transitioning to new locations for the winter, so they got a chance to buy or sell stock that will fit where they are going or be better off elsewhere.”

The HORA sale, which begins at noon, has a catalogue of 356 racehorses of varying ages, including several promising juveniles and an array of black-type competitors. Last year's HORA portion, which was part of a mixed final of 10 sessions, was topped by the 2-year-old colt Strava (Into Mischief), who brought $825,000.

 

 

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Sunday Insights: Pair of $700k Maidens Tackle Del Mar

Sponsored by Alex Nichols Agency

6th-DMR, $70K, Msw, 2yo, 6f, 6:00 p.m.

SULLY (Uncle Mo), a $700,000 yearling at last year's Keeneland September Sale, debuts for trainer John Shirreffs and owner CRK Stable Sunday. Second dam Grazie Mille is responsible for a pair of 'TDN Rising Stars' in GISW and top-10 freshman sire Mo Town (Uncle Mo) as well as GII Chandelier S. third Justique (Justify). The bay just missed a bullet in his most recent work, going four furlongs at Santa Anita in :46 4/5 (2/71) and picks up jockey Victor Espinoza. TJCIS PPS

9th-DMR, $70K, Msw, 2yo, f, 1mT, 7:30 p.m.

Another $700,000 yearling purchase from Keeneland September, WINDOW SHOPPING (American Pharoah) is the third foal out of GSW Delightful Joy (Tapit), herself a half-sister to GSW Cali Star (Street Cry {Ire}) out of GSW and GISP Graeme Six (Graeme Hall). Her 4-year-old half-sister, Zainalarab (War Front), was herself a $1,000,000 yearling.  TJCIS PPS

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Flightline Settling In at Lane’s End

Lexington, KY – While the Flightline connections have been busy at the Keeneland November Sale assembling a powerhouse group of mares to send to their new stallion, the superstar himself has been settling into his new home at Lane's End Farm.

'TDN Rising Star' Flightline (Tapit – Feathered, by Indian Charlie) arrived at the Versailles-based breeding operation less than 24 hours after he cemented his place in history in the GI Longines Breeders' Cup Classic. Accompanied by John Sadler's assistant and exercise rider Juan Leyva and barn foreman Cesar Aguilar, the undefeated son of Tapit came off the van at around 1:30 on Sunday afternoon and then strode down the barn aisle and into his new stall–which is already embellished with his nameplate–without so much as turning a hair.

“Part of the Flightline team was here to help him get settled in at the farm,” said Lane's End Stallion Seasons team member Chris Knehr. “They did a great job with him for his whole campaign and he's such a great horse to be around.”

Knehr added that Sadler and his crew are welcome back to the farm to visit their former trainee whenever they are in Kentucky.

“It's a credit to Sadler's team that he is the way he is,” Knehr said. “One of the things that is so striking about him is that he's got a very big, very intelligent eye. We've all seen that in really smart horses and Flightline has that. There is a class and an intelligence about him that he can take in the environment and adjust to it.”

This week, Flightline has spent a few hours every morning in the round pen before returning to his stall and relaxing throughout the day. Knehr said that Peter Sheehan, who took on the role of Lane's End Stallion Manager last year, is confident that the big bay will get to go out in his own paddock sometime next week.

“Luckily, because he is smart and is so good to work with, he's done very well with the transition,” Knehr said. “It's just kind of a gradual process of letting him down and getting him used to being a horse again.”

Soon, Flightline will be available for the many breeders clamoring to inspect the new stallion. On Wednesday, it was announced that the 4-year-old will command a fee of $200,000 in his first season.

According to Knehr, their team has already taken a deep dive into analyzing Flightline's pedigree and has sought the help of Werk Thoroughbred Consultants' Sid Fernando to begin sketching out guidelines for the types of mares that would suit him best.

“He has Dynaformer and Storm Cat far enough back to where there are a lot of options with him and the mares that can suit him,” Knehr explained. “From that standpoint, the bottom side of the pedigree allows us to try a couple of different things. Obviously being by Tapit, we can use that formula as well with mares that have worked well with Tapit and even some of his sons at stud.”

Flightline was campaigned through six straight career victories by breeder Summer Wind Equine in partnership with Hronis Racing, Siena Farm, West Point Thoroughbreds and Woodford Racing. Many of those connections have been signing tickets on high-profile mare at Keeneland November in the hopes of sending most of those purchases to the new stud.

Summer Wind's newest additions include three-time Grade III winner and last year's Breeders' Cup Filly and Mare Sprint runner-up Edgeway (Competitive Edge) for $1.7 million, SW Park Avenue (Quality Road) for $1.45 million, and Grade III winner Proud Emma (Include), who sold in foal to Charlatan, for $1 million.

With Terry Finley signing the ticket, Gage Hill bought champion Songbird's half-sister Song of Mine (Ghostzapper) for $700,000 and made several more purchases in partnership with Determined Stud including Salty as Can Be (Into Mischief), a half-sister to Grade I victress Salty (Quality Road), for $2 million as well as the winning Empire Maker mare Finding Fame for $575,000.

Earlier this week on Monday, a 2.5% fractional interest in Flightline sold for $4.6 million to kick off the Keeneland November Sale. Knehr said that the results from the auction more than fulfilled the syndicate's expectations.

“I've never seen [the sales pavilion] as packed as it was,” he said. “The final price was beyond our expectations. The idea was to get attention from people outside of the industry as well. He has a national awareness and with the idea of the Metaverse, we wanted to blend some things together and get some interest in that and for the sport in general. We haven't seen a racehorse like this in quite some time. The attention has been incredible, both from a fan standpoint and from the breeders.”

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Speightstown’s Undervalued Asset A Sure Bet On Debut

1st-Aqueduct, $82,450, Msw, 11-10, 2yo, f, 6f, 1:13.31, ft, 8 1/4 lengths.

UNDERVALUED ASSET (f, 2, Speightstown–Hard Headed Temper, by Hard Spun), dispatched as the popular 3-5 choice for her afternoon debut, broke into second after briefly losing her footing, pressing the early speed of Pardon Moi (Not This Time) as the leading pair ran the opening quarter in :23.33. With no visible move from jockey Irad Ortiz, Jr., Undervalued Asset took over under her own power around the turn and dashed clear of Risk Free (American Freedom) at the top of the lane. Much the best heading home despite swapping leads late, she widened her winning margin with each stride before easing up late, hitting the wire 8 1/4 lengths to the good. Risk Free checked in second while Biloxi Blues (Tapit) was a further two lengths back in third. Out of a half-sister to a pair of graded-stakes horses including GISP Heart of Destiny (Lion Heart), Undervalued Asset also counts GISW & MGISP Rosalind (Broken Vow) as a member of her extended family. Hard Headed Temper has a yearling filly by Mitole and foaled a colt by Echo Town last year before visiting Lexitonian for the 2023 season. Sales History: $150,000 Wlg '20 KEENOV. Lifetime Record: 1-1-0-0, $46,750. Click for the Equibase.com chart or VIDEO, sponsored by TVG.

O-Klaravich Stables, Inc.; B-Speightstown Syndicate & Cloyce C. Clark, Jr. (KY); T-Chad C. Brown.

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