Law Professor (Constitution), a 6-year-old horse of racing age, sold for $230,000 to JTH Racing to top the sale. Offered as Hip 4 by Taylor Made Sales Agency, agent, he was a winner in his last two starts, earning a career-high Beyer Speed Figure last out Feb. 23. Law Professor is a four-time stakes winner, including the GII Santa Anita Mathis Mile S., and was runner up to Life Is Good in the GI Woodward S. To date, Law Professor has eight wins, two seconds, and three thirds from 22 career starts and has earned $1,004,565.

Other top sellers included:

Queens Command (Ire) (War Command) (Hip 11), a 5-year-old racing/broodmare prospect sold for $200,000 to Shannon Potter, agent for Town and Country Racing and George Saufley, from the consignment of Taylor Made Sales Agency, agent. A winner in Ireland and the United States, Queens Command was runner up in the GIII Santa Ana S. in her most recent start Feb. 24.

Cairo Sugar (Cairo Prince) (Hip 27), a stakes winner, sold for $200,000 to SF Bloodstock LLC from the consignment of Taylor Made Sales Agency, agent. Offered as a broodmare prospect, Cairo Sugar is a daughter of MGISW Spun Sugar and is a half-sister to the dams of graded stakes winner Best Actor and stakes winner Arham.

Bless America (Into Mischief) (Hip 25), a 4-year-old horse of racing sale sold for $145,000 to MV from the consignment of Taylor Made Sales Agency, agent. Bless America has won or placed in all three of his career starts, breaking his maiden in maiden special weight company in his most recent start Feb. 24.

“It was a very solid sale,” said Leif Aaron, Fasig-Tipton's Director of Digital Sales. “It was a workmanlike sale. Six horses brought six figures or more and the market was very fair.”

Overall, 66 horses sold for $2,011,200, good for an average of $30,472.

Full results are available online.

The next Fasig-Tipton Digital sale will be the April Digital Sale, which opens for bidding on Thursday, Apr. 4 and closes on Tuesday, Apr. 9.

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What he didn't know at the time was whether or not farms would be willing to take a chance on individuals that had been in prison and/or struggled with drug addiction. He soon found out. His programs have been embraced in the Lexington area and several graduates have landed steady jobs and have moved on to meaningful lives.

Taylor joined this week's TDN Writers' Room podcast presented by Keeneland to talk about his programs and their many success stories. He was this week's Green Group Guest of the week.

Taylor said he arrived at the idea of starting the program when confronting his own alcoholism.

“Once I did it and quit, I started feeling better,” he said. “I was having more fun than I've ever had. It was that that kind of spurred me on to start the School of Horsemanship. It was going to be a 90-day program to teach the basics of horsemanship, to get people started off at, say, a groom level, either for Taylor Made or another farm. I had kind of a tough sales job. I went to my brothers and said, 'I've got this idea, I want to bring in a bunch of heroin addicts and alcoholics and felons in here to work with these horses.' They were looking at me like I had two heads. I just wanted a chance to make it work. They were reluctant because there were a lot of concerns. But here we are, 3 1/2 years into it. We have had a hiccup here or there, but not many. I really think we have changed a lot of lives. We've introduced a lot of people to the horse business and trained a lot of people. The results have been amazing.”

The program has been so successful that Taylor would like to expand, but, for now, it's a matter of one step at a time.

“If we wanted to have 500 people in this program by the end of the year, that wouldn't be a problem,” he said. “We need the space, money and management. The need for something like this is way beyond what we can serve at this point and always will be. It's just such a crisis and a terrible situation. It's destroying society, is destroying families. It's just absolutely one of the worst epidemics in the history of mankind. The beautiful thing is, is we have that huge problem and that we have a huge problem with labor in this country. If you blend those two together, they can help solve each other.”

It's been proven that working with horses can solve all kinds of problems for people, whether that be soldiers suffering from PTSD or individuals with drug issues. Taylor knows that the horses deserve a lot of the credit for the success of these programs.

“The horses, they are like the secret sauce for stable recovery,” Taylor said. “That's something we have that other recovery places don't have. I was born into the horse business and I love horses and they're my passion. But I didn't really realize how therapeutic horses were or understand that part of it until I started seeing people that are broken interacting with those horses and seeing the peace and joy that comes to them immediately. It's just an amazing thing.”

In the stallion spotlight segments, the podcast featured Coolmore's Corniche, who stands for just $15,000. The focus was also on Improbable, who stands at WinStar Farm for a fee of $15,000.

Elsewhere on the podcast, which is also sponsored by the Kentucky Thoroughbred Association, Coolmore, the Pennsylvania Horse Breeders Association,https://www.kentuckybred.org/https://www.nyrabets.com/ 1/ST Racing, West Point Thoroughbreds, https://www.winstarfarm.com/and XBTV.com, the team of Randy Moss, Bill Finley and Zoe Cadman delved back into the Bob Baffert ban at Churchill Downs, which also extends to the GI Kentucky Oaks, which means the impressive winner of the GIII Las Virgenes S. Kinza (Carpe Diem) will be shut out. Moss agreed that the Derby week races might deserve an asterisk if Baffert's horses are all banned, but he argued that it's not too late for Churchill to change its mind and to lift the Baffert ban. The team took a look at the GII Risen Star S., to be run this Saturday at the Fair Grounds and all agreed it will be by far the deepest Derby prep run so far this year.

For the podcast video, click here. For audio only, click here.

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The auction added some late fire power to its catalogue Sunday when Zetta Z (Bernardini) (hip 536) was supplemented to the catalogue a day after her sophomore son Nysos (Nyquist) dominated the GIII Robert B. Lewis S. at Santa Anita. The 14-year-old broodmare, who is in foal to Cyberknife, will be offered through the Grovendale Sales consignment.

“Nysos has been brilliant in each of his starts,” said Fasig-Tipton President Boyd Browning. “His numbers lead all 3-year-old colts and his potential is unlimited. We are thrilled to have the opportunity to offer his dam, who is in foal to the exciting first-year stallion Cyberknife.”

The winter mixed sale brings a close to a season of breeding stock auctions which featured plenty of money for top offerings and a mixed reception for horses under that level. Consignors expect those same trends to continue this week in Lexington.

“I think it will be the same as all of them,” said Vinery Sales' Derek MacKenzie. “The top will be strong, the bottom probably not so much and the middle, probably a little polarized back and forth. The catalogue is smaller than it has been and with this big group of Lothenbach horses getting added, thinking positively, I think it will be a good sale.”

Vinery and Taylor Made Sales Agency will each be consigning horses as part of the dispersal, which will bring increased interest to the winter catalogue.

“It's been a few years now and not quite this quality, but when we had the Rockin' Z dispersal a few years ago at this sale, I remember, it really drew a lot of people in,” MacKenzie said. “And this one should bring even more.”

Taylor Made's Marshall Taylor agreed the buying bench at Fasig-Tipton might be deeper this year due to the dispersal.

“Anytime there is a dispersal, the first thing that people think of is 'no reserve' and opportunity is the first word that comes to your mind as a buyer, especially when you look at the type of roster that Mr. Lothenbach and his team accumulated and what they've got on the roster. That drives people to the sale. So I think you're going to see a lot more people at the sale than traditionally come to the February sale because of the dispersal.”

Its placement directly ahead of the opening of the breeding season gives the Winter sale a pivotal spot on the calendar.

“If you look at the February sale from the past, it's always a really solid, good sale,” Taylor said. “I think every year, you see these young fillies selling well, young fillies with page or a little bit of race record. They tend to really sell well because I think everyone is looking for a nice young mare to breed.”

MacKenzie said, “I think it is good timing. A lot of these mares that are empty are maidens that can go straight to the breeding shed almost. So, they don't have carrying costs. The timing is probably perfect.”

During last year's Winter Mixed sale, 402 horses sold for $14,105,200 for an average of $35,088 and a median of $15,000. The broodmare prospect Lemieux (Nyquist) topped the auction when selling for $400,000 to Nice Guys Stables. Bred to Not This Time just after the auction, she produced her first foal, a colt, Jan. 26.

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“Mr. Lothenbach was a great ambassador for racing and he strictly bred to race,” Vinery's Derek MacKenzie said. “He also bought a lot of nice yearlings over the years for racing. And so, none of these families–especially some that go back three and four generations–have ever been on the market. There is soundness and plenty of talent within these families. Under unfortunate circumstances, they are available to the public.”

Lothenbach, who passed away in November, was among the leading owners in North America for nearly three decades. Over the last 23 years, his Lothenbach Stables celebrated more than 800 wins and earned more than $30 million. He was a top 10-ranked owner nationally in 2020 and 2022.

“He is one of the few guys who bred to race exclusively in this era,” MacKenzie said.

Among Vinery's 46 offerings from the dispersal are a pair of mares who won graded stakes in the Lothenbach colors.

Bell's the One (Majesticperfection) (hip 476) won the 2020 GI Derby City Distaff S., the 2021 GII Honorable Miss H. and GII Thoroughbred Club of America S. and the 2019 GII Lexus Raven Run S. She was third in the 2020 GI Breeders' Cup F/M Sprint.

The hard-knocking mare hit the board in 21 of 27 races–including three runnings of the GI Madison S.–with 13 wins and earnings of $2,000,675.

“Any international buyer that is seriously playing at the top level would want to have this mare,” MacKenzie said. “She was such a good race filly for so long and she looks fantastic right now. They can take her straight to the shed and breed her to whoever they want. I've got to think she appeals to every continent.”

The 8-year-old mare, who RNA'd for $2.6 million at the 2022 Fasig-Tipton November sale, was bred to Flightline last year, but sells not in foal after aborting in September.

“I was a farm manager for a long time before I got into the sales side and a lot of maidens slip their first ones and never have an issue the rest of their career,” MacKenzie said. “I've seen it a lot. So it's not a worry at all for me. I think anyone with experience with broodmares knows it shouldn't be any kind of issue and she'll be fine going forward.”

Vinery's offerings also include She Can't Sing (Bernardini) (hip 485), winner of the 2022 GIII Chilukki S. The 7-year-old broodmare prospect raced 39 times in her career, hitting the board 22 times and earning $883,558.

“What a beautiful mare,” MacKenzie said of She Can't Sing. “She ran hard for a while and she's by the right sire in Bernardini, a great broodmare sire. And she has leg and scope. She is taller than most Bernardinis. Again, she should fit any continent, any kind of top-level breeder should take a hard look at trying to get her.”

Beyond the pair of graded-stakes winning mares, MacKenzie said he thinks there is plenty to appeal to buyers in the dispersal as the breeding season looms.

“There is a group of maiden fillies coming off the racetrack that are pretty interesting that have good looks and talent,” he said. “And there are a couple other younger broodmares in foal to the right sires. So it's going to be a strong showing.”

Taylor Made Sales Agency got the Lothenbach dispersal started with a week-long digital offering of 76 horses of racing age which opened Monday and closes Friday. During the Winter Mixed sale next week, the consignment will include 19 short yearlings, all bred by Lothenbach.

“I think they represent a really good opportunity right now,” Marshall Taylor said of the offerings. “You look down there at all those pedigrees and who they are by, pedigrees that nobody has really had an opportunity to buy into and then it's a group of very good stallions that Mr. Lothenbach bred to. Normally, you get down to this point and you've got the February sale and there are only so many [yearlings] in the sale. So to have this opportunity with some of the stallions that Mr. Lothenbach bred to, it's a huge opportunity.”

After a competitive foal market, next week's Winter Mixed sale offers buyers a final chance to buy short yearlings at public auction this year.

“I think the foal market, now short yearling, market has been so strong,” Taylor said. “You look at November and it was really hard to buy. The good foals were bringing a lot of money and selling very well. That carried on to January. So having this dispersal with these short yearlings, I think there is going to be a strong market for them. I think there are a lot of people out there that still want to buy a good baby by a good stallion. And I think all of that is just going to carry over to this sale.”

With the digital portion of the dispersal in full swing, Taylor said he was seeing plenty of interest for the horses of racing age this week and requests for information on many of those horses' siblings who will be on offer on-site at Fasig-Tipton next week.

“Right now, we just started the racehorse dispersal [Monday], so there has been a lot of interest there,” Taylor said. “We've had a lot of calls on the short yearlings, too. People calling us asking what they look like, a lot of different pinhookers have been asking about them. Mr. Lothenbach has a lot of nice horses in the digital sale and a lot of these babies are half-siblings.”

From the digital sale through the Winter sale, Taylor kept coming back to that word–opportunity.

“From an overall picture on all of Mr. Lothenbach's offerings,  from the mares, to the racehorses, to the babies–especially with the fillies–to have the opportunity to buy into these families is a rare thing. Mr. Lothenbach was a straight breed-to-race guy and nobody has ever had the opportunity to buy into these families. He has a lot of nice families, so there are going to be some big opportunities.”

The Fasig-Tipton Winter Mixed Sale will be held next Monday and Tuesday at Newtown Paddocks. Both sessions of the auction begin at 10 a.m.

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Robert Lothenbach, who passed away this past November, was one of North America's leading owners for nearly 30 years. His Lothenbach Stables amassed more than 800 wins and earnings of more than $30 million since 2000 and he was a top 10-ranked owner nationally in 2020 and 2022.

“Opportunities to purchase ready-to-run racing stock from a leading operation like Mr. Lothenbach's happen very rarely,” said Fasig-Tipton Director of Digital Sales Leif Aaron. “All of Mr. Lothenbach's horses have been in the hands of top-class horsemen, and buyers will find quality offerings that suit a variety of racing programs and conditions.”

Among the horses in the catalogue with recent updates are the 4-year-old Earl of Dassel (Cairo Prince), who broke his maiden at Fair Grounds last Thursday and Happy American (Runhappy), who finished third in the GIII Louisiana S. Jan. 20.

Horses are located at Fair Grounds Race Course and Delta Downs in Louisiana; Palm Meadows Training Center in Boynton Beach, Florida; Grace Full Oaks Training Center in Ocala, Florida; and in Kentucky at Skylight Training Center, Turfway Park, and Chesapeake Farm in Lexington.

All entries are accompanied by photos and walking videos, X-rays, Daily Racing Form past performances, Thoromanager past performances, Ragozin speed figures, and race replays.

To create an account or register to bid, visit digital.fasigtipton.com.

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Included among the breeding stock offerings are Grade I winner Bell's the One (Majesticperfection) (hip 476) and graded stakes winner She Can't Sing (Bernardini) (hip 485). Mares in foal to Authentic, Blame, Bolt d'Oro, Candy Ride (Arg), Charlatan, Into Mischief, Jackie's Warrior, Maclean's Music, Omaha Beach, Uncle Mo, and Yaupon are also on offer.

The Kentucky Winter Mixed offerings also include 22 yearlings, by such sires as American Pharoah, Candy Ride, City of Light, Essential Quality, Ghostzapper, Gun Runner, Into Mischief, Maxfield, Medaglia d'Oro, Omaha Beach, Practical Joke, Twirling Candy, and War Front.

“Mr. Lothenbach's breeding program was old-time–pedigrees he had developed as part of an operation that was 100% breed to race,” commented Fasig-Tipton President Boyd Browning.  “His families have never been offered on the public market and his yearlings have been raised with one goal–to be racehorses.”

Prior to the Kentucky Winter Mixed Sale, the complete dispersal of Lothenbach Stable's horses of racing age will be conducted on Fasig-Tipton Digital, the company's online platform. The approximately 90 Horses of Racing Age, which consist of 3-years-old or older, will be consigned by Taylor Made Sales Agency.

Bidding for the Lothenbach Dispersal of Horses of Racing Age on Fasig-Tipton Digital will open Monday, Jan. 29 and will close on Friday, Feb. 2. The catalogue will be made available for previewing prior to the start of the digital sale.

A prominent Minnesota owner and breeder for more than 30 years, Lothenbach passed away in November of 2023. Since 2000 alone, Lothenbach color bearers have won more than 800 races and earned more than $30 million on the racetrack, according to Equibase. His stable ranked in the top 10 nationally in 2020 and 2022.

“Mr. Lothenbach's passing is an immense loss to Thoroughbred racing, as he loved and participated in all aspects of our sport as an owner and breeder, while also highly active at auctions,” said Browning. “We are honored that his family has chosen Fasig-Tipton for the dispersal of the majority of his Thoroughbred holdings.”

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Offerings include 10 additional supplements highlighted by Sophia Mia (Pioneerof the Nile), whose first foal is recent GI Malibu S. winner Speed Boat Beach (Bayern). In foal to leading young sire Not This Time, the 9-year-old mare is consigned by Taylor Made Sales Agency, agent.

Each session of the January Sale will start at 10 a.m. ET. The entire auction will be livestreamed at Keeneland.com and aired on the FanDuel TV+ OTT app. FanDuel TV will have live hits throughout Book 1.

Joining Sophia Mia in the latest round of additions to the January Sale are:

Angel Nadeshiko, who won the Dec. 30 GIII Robert J. Frankel S. at Santa Anita. From the family of champion Proud Spell, the Carpe Diem mare is consigned by Hunter Valley Farm, agent, as a racing or broodmare prospect.

Areuhavingfunyet, a daughter of Mucho Macho Man who was runner-up in her most recent race at Churchill Downs Nov. 12. She is consigned by Lane's End, agent, as a racing or broodmare prospect.

Coastal Charm, a Ghostzapper mare whose four wins in 2023 include the Dig A Diamond S. at Oaklawn Park and the Iowa Distaff S. at Prairie Meadows. From the family of Grade II winner Alpha Kitten and two-time 2023 stakes winner Downtown Mischief, she is consigned as a broodmare prospect by Lane's End, agent.

Happy Valentine, a daughter of Runhappy who was a three-length allowance winner at Woodbine Dec. 16. She is consigned by Highgate Sales, agent, as a racing or broodmare prospect.

Juniper's Moon, a graded stakes-placed, winning daughter of Galileo (Ire) and multiple Grade I winner I'm a Chatterbox who was third in the 2023 GIII Florida Oaks. A racing or broodmare prospect, Juniper's Moon is consigned by Taylor Made Sales Agency, agent.

Leslie's Loot, who won the Dec. 23 Letellier Memorial S. at Fair Grounds to cap her three victories at two. By Fast Anna and from the family Grade II winner Paid Up Subscriber, she is consigned by Warrendale Sales, agent, as a racing or broodmare prospect.

Meow Meow Hiss, a filly by Creative Cause who is a half-sister to Wine Me Up, runner-up in the 2023 GI American Pharoah S. Highgate Sales, agent, consigns her as a racing or broodmare prospect.

Saddle Up Jessie, a daughter of More Than Ready whose four wins in 2023 include the Dec. 23 Carousel S. at Laurel Park. A half-sister to King's Gamble, third in the 2023 G2 Al Basti Equiworld Dubai Gimcrack S. at York in England, she is consigned by Indian Creek, agent, as a racing or broodmare prospect.

Saffron Moon, a daughter of Malibu Moon who was second in the Nov. 23 GIII Cardinal S. at Churchill. A three-time winner, she is from the family of Grade I winner Vacare. Saffron Moon is consigned by Indian Creek, agent, as a broodmare prospect.

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At the close of business Thursday, 2,128 horses had sold through the ring for $176,571,000. The average of $82,975 was down 16.94% from a year ago, while the median of $32,000 was down 20.00%.

“Overall, it's been a very pragmatic, solid sale,” said Lacy. “Demand for quality is extremely strong, probably as strong as ever, and that's very encouraging. There's a lot of stability in the market. With a slight correction, we're down just 15% on most metrics, and that's within expected parameters considering we're dealing with increasing interest rates and a strong U.S. dollar. Early in the sale, there was some protectionism from sellers who weren't going to let nice horses go below a value they felt was reasonable. And the market is more sensitive to mares that are a little more exposed. That's not unreasonable. We saw that in September and in other markets. The middle market was extremely healthy. Sellers were pleased for the most part, and buyers found it tough to buy the quality stock.”

With 600 horses reported not sold during the nine-day auction, the buy-back rate of 21.99%–just a tick lower than last year's figure of 22.04%–was a bright spot in the November results, according to Keeneland Director of Sales Operations Cormac Breathnach.

“I think one thing we observed, a few sessions into the sale, sellers recognized the market in front of them and were very pragmatic in their approach, so as a result, we have had a very good clearance rate,” Breathnach said. “It's actually better than last year. When you do that and you manage expectations and have a high clearance rate, typically average and median are going to come down a little bit as well.”

The Keeneland November sale also featured a vibrant post-sale market this year.

“Our RNAs-to-sales activity is double what it was last year,” said Breathnach. “So the post-sale transactions are twice the gross total volume that they were last year. Which is a sign that the market is still hungry. There is still a lot of activity, a lot of horses being traded.”

There were 91 post-sale transactions at the 2023 November sale, resulting in an additional $12,265,000 in gross. In 2022, an additional 84 post sales grossed $6,402,500.

The most high-profile of those post-sale transactions this year was for Puca (Big Brown). Carrying a full-sibling to this year's GI Kentucky Derby winner Mage (Good Magic), the mare was originally led out of the ring unsold during Wednesday's Book 1 session, but she ultimately sold for what would have been a sale-topping $2.9 million to John Stewart.

With her inclusion, the November sale had 12 seven-figure offerings. The 2022 November sale had 13 seven-figure sales, including the $5.5-million sale topper Midnight Bisou (Midnight Lute) and the $4.6 million fractional interest in Flightline (Tapit).

The Keeneland November results do reflect a softening in the market and that should be no surprise amidst swirling global uncertainties, said Gabriel Duignan of Paramount Sales.

“There's no denying there's a little correction, which kind of mirrors the rest of the world,” said Duignan. “I thought the good foal market was business as usual; if you had a good foal, you got well-paid for him. With the mares, the horses they want–the young mares and broodmare prospects–they're selling good. As a seller, it was a little sad that some of the mares that had just a little bit of exposure sold for cents on the dollar. The market just wants certain things and if you don't fit into that category, you're going to be penalized.”

High Demand in the Foal Market

While the 2023 November sale failed to come close to the seven-figure weanling from 2022, the overall foal market was strong.

“If you look at the foal market, it was incredibly strong and it shows that with quality breeding stock producing quality foals, you can get a great return, whether it's a yearling or a weanling,” said Lacy. “When you look at the weanling market, the weanlings who brought $400,000 or above, or $500,000 or above, were double the number from last year. And last year was widely considered a very strong market. So I don't think that there is a perception that the market is weak. The market has shown that they are willing to spend premium for quality stock.”

A colt by Gun Runner was the top-priced weanling of 2023 when selling to Shadwell Racing for $750,000. The youngster was one of 19 to sell for $400,000 or over this year.

A total of 775 weanlings sold at the 2023 November sale for a gross of $54,908,700. The average was $70,850 and the median was $35,000.

In 2022, 855 weanlings sold for $60,770,600 for an average of $71,077 and a median of $37,000. With a $1.5-million filly leading the way, 10 weanlings sold for $400,000 or over in 2022.

“We have had a couple of record September [yearling] sales in the last couple of years and the September market has been incredible,” said Breathnach. “So what we all noticed early on in the first few sessions [of the November sale] was strength in the foal market, which we feel is a reflection of confidence in next year's yearling market.”

Breathnach added that the strength of the weanling market may have boosted the mare market.

“Buyers saw an opportunity in the mare market,” he said. “If they were getting shut out or having to spend 20% to 30% more than the same foal might have cost last year, they pivoted and began buying mares carrying those pregnancies.”

Grade I winner Yaupon, whose first crop arrived this year, was the November sale's leading sire of weanlings with 31 foals bringing a total of $4,137,000. At $450,000, the most expensive was a colt out of the Bernardini mare Zetta Z who sold to Randy Hartley and Dean De Renzo's AAA Thoroughbreds, the sale's second-leading buyer with 18 purchases through the ring for $4.85 million.

Into Mischief was the leading sire of weanlings by average with three or more sold. His three weanlings averaged $433,333.

Leading Buyers, Sellers

Jacob West, as agent for Repole Stable, was the November sale's leading buyer with nine horses purchased for $5.22 million. Repole, whose week in Lexington began with the $6-million purchase of champion Nest (Curlin) at Fasig-Tipton, purchased Interstatedaydream (Classic Empire) for $1.4 million and Surprisingly (Mastery) for $1 million at Keeneland.

The auction's 12 highest-priced horses sold to 11 buyers representing interests from the U.S., Europe and Japan.

The November Sale also featured the first mares offered at Keeneland in foal to 2022 Horse of the Year Flightline, who was represented by seven mares sold for $6,625,000 to lead covering sires by gross and rank second to Into Mischief by average with $946,429. The most expensive mare in foal to Flightline was Grade I winner Dalika (Ger) (Pastorius {GB}), who is carrying her first foal and sold for $1.65 million to Pursuit of Success LLC.

For the 26th time since 1987, Taylor Made Sales Agency was the November sale's leading consignor, with 262 horses sold for  $22,889,900. The operation sold the auction's top-priced weanling, a colt by Gun Runner who brought a final bid of $750,000 from Shadwell Racing.

Pacific Pink Tops Keeneland Finale

Multiple stakes winner Pacific Pink (Private Vow) (hip 3310) brought the highest bid of Thursday's final session of the Keeneland November sale when purchased by Cary Bloodstock on behalf of Coteau Grove Farms for $85,000. The 11-year-old mare, who sold in foal to Volatile, was consigned by Denali Stud.  Her first foal, the 3-year-old Make the Boys Wink (More Than Ready), won a Churchill allowance Nov. 4 and, supplemented to the Fasig-Tipton November sale, sold for $450,000 to Gigi Stables three days later.

A filly by Beau Liam (hip 3359) was the session's top-priced weanling when selling for $70,000 to Buena Madera. Out of stakes-placed Sierra Aleone (Gemologist), the dark bay was consigned by Eaton Sales.

During Thursday's session, 255 horses sold for $2,645,700 for an average of $10,375 and a median of $7,000.

Horses of Racing Age Sell Friday

Selling will continue Friday at Keeneland with the company's second November Horses of Racing Age Sale. With entries still being added just days before sale time, 330 horses were catalogued for the one-session auction which begins at noon.

“We are excited for tomorrow's sale,” said Breathnach. “It's our second annual November Horses of Racing Age sale, so it's still a sale in its infancy. It's an important part of the market for us. This is where the purses really come into play and feed the demand for horses. Turfway is opening, Oaklawn is opening soon and Fair Grounds, so people are moving locations and it's a perfect opportunity for them to tweak their numbers and add or sell horses that have racing left in them.”

The Keeneland November Breeding Stock Sale had included a section of horses of racing age before that portion of the sale was separated out for its own sale a year ago. The inaugural November Horses of Racing Age sale saw 161 horses sell for a gross of $11,029,500 and an average of $68,506. Extortion (Into Mischief) topped the sale when bringing $1 million from Mick Wallace on behalf of Gandharvi.

“It's a sale that takes a little time to get really established,” Lacy said. “But we are seeing that there is an interest level from the Middle East and from different parts of world that are looking at this sale as an option now to source individuals for their racing programs. I think as the sale goes forward–and also the Horses of Racing Age Sale in April–it's going to gain more traction.”

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“Coming into this year, we had to have a little bit of caution just because of the economic climate and some negativity in the sport,” admitted Keeneland Vice President of Sales Tony Lacy. “I think we have to be extremely happy with the way the sale has gone. I know we go on about the energy and the enthusiasm, but I think it was actually amplified this year. It was great to see the pavilion packed, especially on the first day. The biggest issue we had was a lack of seating, which I don't think we've had in the past very often. I think the sellers felt very encouraged by the traffic, by the amount of vetting that they had before the sale. So overall, I think the table was set. The numbers were very similar to last year–which was a record year–so we've got to be very pleased.”

At the close of business Saturday, 2,754 yearlings had grossed $394,127,900, third highest in sale history. The average of $143,111 just ticked up from last year's record-setting figure of $142,429, while the median of $67,000 was down 4.29% from last year's record of $70,000. The buy-back rate was 20.22%. It was 18.24% last year.

Additionally, 130 horses that did not meet their reserve price in the ring were sold privately for a total of $13,927,000 to push total gross sales to $408,054,900 as of the close of the Sept. 23 session.

The September gross topped $400 million for the first time in 2022 when 2,847 horses sold for $405,495,700.

Thirty horses topped $1 million this year, including the $3-million sale-topping son of Into Mischief purchased by the partnership of Chuck Sonson, Woodford and West Point Thoroughbreds. That matches the number to hit that threshold from 2022 and doubled the number from the 2021 auction. There were  168 horses who sold for $500,000 or more this year, compared to 162 in 2022.

“The 30 seven-figure horses in Books 1 and 2 was the same as last year and we've actually exceeded the number of $500,000 sales compared to last year,” said Keeneland Director of Sales Operations Cormac Breathnach. “It's been a very healthy market with a lot of participation from many countries and many domestic buyers.”

Depth in the Buying Bench

The Keeneland September sale attracted another deep and diverse buying bench with strong domestic participation bolstered by a wide array of international buyers.

“One day, the top 15 horses were from 13 different entities and most of those were domestic,” Lacy said of the buying bench. “There were some international buyers that were participating at the high level as well and they were critically important and always have been in the market.”

The stallion-making partnership of SF Racing, Starlight Racing and Madaket Stables was the auction's leading buyer, acquiring 20 yearlings for $12,590,000. A year ago, the partnership was the second leading buyer with 21 purchased for $12,825,000.

Mike Repole's Repole Stable and St. Elias Stables partnered up to be last year's leading buyer, with 31 purchased for $12,840,000. While the two operations did not purchase together this year, Repole was the auction's second leading buyer with 35 yearlings purchased for $11,835,000. He purchased a further eight horses in partnership with Spendthrift for $4.185 million.

Alone or in various partnership, St. Elias bought 12 head for $4.645 million.

“You see an emphasis on partnerships and syndicates,” Lacy said. “I think with the purse structure right now and the possibility to have a lot of fun and a return on your investment, it makes a lot of sense for people spending considerable amounts of money. Mike Repole has been a critical part of that and with one or two horses, he has paid for the whole package. So this makes sense. It's playing at the big table, but again it pays off in the long run.”

The domestic buying bench at the top end also included Jim and Dana Bernhard, who purchased the historic Pin Oak Stud last year and recently added land from the former Adena Springs. The Bernhards acquired 19 yearlings for $8,835,000. Newcomer John Stewart also made a splash at the auction, purchasing 13 head–including a $2.5-million filly by Uncle Mo–for $8,425,000, while Robert Clay's Grandview Equine purchased nine yearlings for $3,530,000.

“I think purse structure is really what's promoting, or permitting, the domestic buyers to be so strong,” Breathnach said. “We had tremendous international participation at this sale, but they were evident on the grounds at some points more than on the results sheets because the American buyer base is very powerful right now. The vast majority of the top 20, 30, 40 yearlings sold in this sale are staying in the U.S., even the ones purchased by Sheikha Hissa.”

The Shadwell stable of the late Sheikh Hamdan al Maktoum was largely absent from the September sales results in recent years, but made a big return this year with his daughter, Sheikha Hissa on the grounds at Keeneland. The operation purchased the session topper on the sale's first day, going to $2.3 million for a filly by Into Mischief. It also acquired a daughter of Medaglia d'Oro for $1.1 million. In all, Shadwell purchased four yearlings for $4,850,000.

“It was great to see Sheikha Hissa return to the market here at Keeneland,” Breathnach said. “That was really rewarding for us that she was here and she had a great time. That's important to us in terms of the future of the game here and the international market as well.”

Strength Follows Strength

While Keeneland's elite Books 1 and 2 attracted plenty of competitive bidding, there was concern demand might drop off in the auction's later books, but the results remained strong.

“We were more concerned about the last book or two,” Lacy said. “The conversations we had with a lot of potential buyers during the summer on our travels, whether it was domestic or international, they were very much engaged with coming to Keeneland. So I think we felt pretty confident that [demand] would go to Book 4, but we are incredibly happy with the way Book 5 started off and the clearance rate. [Friday] we had a clearance rate of almost 90%, which I think has got to be very positive from the perspective of breeders who are able to get their horses moved on into the system and they can reinvest in the next crop.”

Phil Hager signed for 18 yearlings for $2,507,000 in the name of his Taproot Bloodstock and he was involved in the purchase of several other head during the 12-day auction.

“Going into the sale, I was expecting the first week was going to be really tough to buy and then it would drop of pretty significantly shortly after that,” Hager said. “And I felt like it was definitely tough that first week, but there was pretty spirited bidding all the way through, really. Those first few days were really tough, but after that, I felt like we started to get a few more bought. It seemed like the transition to the second week, there was one day that felt like it was light and then it picked right back up again and got pretty active. It was a little stronger at the end than I thought it would be.”

Still, Hager said Keeneland's emphasis on putting strong physicals up front in the sale may have led to some bargains early on.

“I thought Book 1 was really strong in terms of physicals,” Hager said. “You could tell that Keeneland was trying to put some of the better physicals into Book 1 and there were maybe some horses in Book 1 that could have brought more if they were in Book 2 or 3. And I felt like there were some good opportunities there, but sometimes it's hard to talk owners into looking into Book 1 because you get used to vetting them and then getting blown out of the water. But just looking back on it, it seems like maybe there were a few opportunities–and I'm not talking under $100,000, it was the $200,000 to $400,000–but maybe horses that were decently bought in those first two days.”

He continued, “If you wanted a really good physical and some pedigree, then, yes, it did cost a lot. At times probably more than you would have thought going in. Luckily, a few of my clients were willing to pay a little more to get that horse. There were a few that we bought that I thought could have brought more. But overall, I thought it was pretty fair.”

Finding Value in Fillies

Eclipse Thoroughbred Partners was active in the September market, purchasing–alone or in partnership–18 yearlings for $5,385,000.

“It's a very healthy market,” said Eclipse's Aron Wellman. “It has been for several years, especially in the upper echelon of the market, which is where we try to play. There has been no clearly defined middle market for quite some time, but we do our best to try to seek out value and carve out a middle market of our own, so to speak.”

With the current proliferation of colt-buying partnerships, Eclipse Thoroughbreds has sought to find value in buying fillies–just five of its September yearlings were colts.

“It's a strategy that has proven fortuitous for our program and our partners,” Wellman said. “There is just such an insatiable appetite for what buyers perceive to be stallion prospects and the premium being paid for those individuals that sometimes when we are able to place more of an emphasis on fillies, we feel as though we get a little bit better value for our money.”

Eclipse did purchase a colt by Into Mischief for $850,000 and a son of Good Magic for $725,000.

“Those were two our swinging for the fences type plays and then after that we were back in our sweet spot, back in the $150,000-$250,000 range,” Wellman said.

Wellman sees the buying power of the colt partnerships expanding into even later sessions.

“The conglomerates that have been put together to purchase high-profile colts with stallion physique and pedigree have made that a very competitive niche market that is expanding,” he said. “You are seeing guys in sessions six and seven paying high six figures for colts right now. So it's not confined to Book 1 or even Books 2 or 3. When there is that perception that there is a potential stallion prospect, with those traits and characteristics, there is no ceiling as to what those horses might bring.”

Wellman, sounding like a man just coming out of war, said the competition ran straight through the sale.

“We shopped all of the way through Book 5,” he said. “There is an incredible buying bench headed up by great bloodstock agents right now and I think they are supported by fantastic capital–just when you think the money is going to run dry, there is no such as thing as sneaking one past anyone anymore. There is such an incredible desire for owners to have horses that they envision being capable of competing at the highest level. So they are willing to pay premiums if they believe those horses possess those tools. And you've got to go into the pavilion every time thinking you are going to war. There is no letting down at any point in this sale. It's a war, it's a marathon, it's a battle of attrition. And you've got to be equally mentally and physically focused because it is challenging on every front. You go into battle mode for a couple of weeks and you hope to come out with as many healthy soldiers as you can find.”

Format Formally a Success

For the third year in a row, the Keeneland September sale was presented with two-session Books 1 and 2, followed by a dark day. Sales officials continued to be pleased with the results of the format.

“When we start breaking the $400-million mark two years in a row, I think that illustrates stability,” Lacy said. “The one thing our buyers and our clients want is consistency. They want familiarity. We put our necks on the line with this format, but it was something that needed to happen. I think the consignors and the breeders are starting to understand what we are trying to do and what we are achieving. So we have a huge amount of buy-in right now. I think we are seeing that stability in the numbers. Even in some challenging economic times, we are still able to maintain some really, really good numbers.”

Demand at the top of the market during week one fueled gross sales of $234 million, on par with last year's $236 million for the corresponding period. The average price of $367,818 rose 3.8% while the median climbed 9% to $300,000.

“With a consistent format and with the focus on getting good physicals into the early books, we feel like we have a formula that works with the buyer base and that's an important part of the equation,” Breathnach said. “If we have approximately 400 in Book 1 and 700 in Book 2, that format allows us to have a critical mass of horses on the grounds at effectively the same time. So we can start at 1 p.m. with 200 horses a session in Book 1 and we can start at 11 a.m. in Book 2 and those are critical extra hours in the morning for the buyers to get their vet work done and get second looks and to stay ahead in looking at horses in the upcoming sessions. When we have the dark day, it gives people that opportunity to keep pace with the sale.”

The push of quality to the front of the auction has produced the desired results, according to Mark Taylor of Taylor Made Sales Agency.

“Keeneland has done a good job in Book 1 of getting better physical horses pushed forward, and the market responded to that,” said Taylor. “We sold horses in Book 1 for a lot of money by freshman sires and by non-traditional Book 1 sires. Keeneland's ongoing push to get breeders and consignors to support Book 1 with really good physicals by a diverse group of stallions is paying dividends.”

Plenty of Mischief at Keeneland September

Of the 30 horses to bring seven figures during the September sale, 12 were by Into Mischief and five were by Uncle Mo. The two stallions were responsible for nine of the auction's top 10 prices. Gun Runner had three million-dollar sales, Not This Time, Curlin and Tapit had two each and Constitution, Medaglia d'Oro, McKinzie and Volatile one.

Into Mischief was the sale's leading sire by average with 53 yearlings averaging $698,019.

While first-crop sires McKinzie and Volatile produced million-dollar yearlings at Keeneland, it was Authentic who led all sires in that category by average. The GI Kentucky Derby winner had 67 yearlings sell for an average of $270,358.

Gainesway Leads All Consignors

Gainesway ended Taylor Made Sales Agency's eight-year reign as the September sale's leading consignor. Antony Beck's operation sold 137 yearlings for a gross of $43,573,000. Gainesway got the auction off with a bang, selling nine million-dollar yearlings, and didn't slow down throughout, leading the consignor's list at every session in which they sold horses.

“I would describe it as a lifetime achievement,” Gainesway General Manager Brian Graves said of the title. “I'm just so grateful to our clients for giving us such a quality product to put us in a position to be the leading consignor. We knew we had a really nice physical draft of horses, especially with the addition of Mandy [Pope]'s horses and top pedigrees, and the feedback from Keeneland was very positive. They had asked us to put more horses into Book 1 and move more horses from Book 3 to Book 2, so that was a good sign we had a strong and really deep group of horses. Then the results turned out good.”

Taylor Made was the auction's second-leading consignor with 268 head grossing $39,387,000.

Silent Name Colt Tops Keeneland Finale

A colt by Silent Name (Jpn) (hip 4037) topped the final day of the Keeneland September sale when selling for $185,000 from the partnership of X-Men Racing, Madaket Stable and SF Racing. Consigned by Grovendale Sales, the yearling is out of Holy Cargo (Holy Bull), a half-sister to GI Preakness S. winner Red Bullet (Unbridled). He was bred in Ontario by BHMFR, LLC, which purchased the mare with the colt in utero for $10,000 at the 2021 Keeneland November sale.

Alone or in partnership, X-Men Racing, the Canadian partnership assembled by bloodstock agent Donato Lanni, purchased 13 yearlings for $1.366 million during the 12-day auction.

The post ‘Energy and Enthusiasm’ Fuels Strong Keeneland September Sale appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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The post Curlin Colt Brings $1.1M from Lauren Carlisle on Second day of Book 2 appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions.

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