Keeneland September yearling sale closes on a strong note
Keeneland’s 80th September yearling sale closed Saturday on a strong note.
Large crowds of enthusiastic buyers participated from start to finish of the 12-day sale, driving gross receipts to $394,127,900, third-highest in Keeneland history, and establishing a record average price of $143,111. The market was further strengthened by the sale of 30 yearlings for $1 million or more each, equaling last year’s mark and led by an Into Mischief colt that fetched $3 million.
In cumulative results for the bellwether sale, which began Sept. 11, 2,754 yearlings sold through the ring for $394,127,900, down just 2.80 percent from last year’s record gross of $405,495,700 when 2,847 horses sold through the ring. The total falls just shy of the $399,791,800 recorded for the 2006 September sale.
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Cumulatively, for horses sold through the ring, the average price of $143,111 bests last year’s record of $142,429, while the median of $67,000 dipped 4.29 percent from the record $70,000 in 2022.
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 Saturday session.
“The September Sale is unmatched in terms of generating excitement and optimism around the world for our sport. There’s just not anything quite like the positive energy you feel on the sales grounds during these two weeks,” Keeneland president and CEO Shannon Arvin said. “We so appreciate our buyers, consignors and sellers and thank them for bringing their best horses to this market. Their love of the horse and their passion for racing are evidenced in everything they do, and we are happy they were rewarded for their thoughtful planning and hard work.”
Several key measures of trade demonstrated the quality of the September Sale catalog, the depth of the market and the diversity of the buying bench:
A total of 168 horses sold for $500,000 or more compared to 162 in 2022, representing 50 different consignors large and small.
The 10 highest-priced horses represented nine distinct consignors.
Eighty-two different entities spent $1 million or more.
The 10 highest-priced horses sold to eight different buyers.
Of the 30 yearlings sold for $1 million or more, four brought $2 million or more each.
The 30 seven-figure yearlings were bought by 21 domestic and international entities.
Demand for quality horses held the reserve not achieved rate to 20.22 percent.
For the third consecutive year, Keeneland cataloged some 1,100 of the finest yearlings based on pedigree and conformation in Books 1 and 2 with the goal to present the largest number of exceptional horses before major domestic and foreign buyers during Week 1 and create momentum that would ripple through the entire sale.
Demand at the top of the market during Week 1 fueled gross sales of $234 million, on par with last year’s $236 million for the corresponding period. Average price of $367,818 rose 3.8 percent while the median climbed 9 percent to $300,000.
Day 2 of the sale was especially memorable as 15 yearlings brought seven figures, bookended by the first horse in the ring who sold for $1.3 million and the second-to-last horse knocked down for $1.25 million. At $3 million, the sale topper was a colt by Into Mischief who was bred by Mike Repole and sold to the partnership of Sonson, Woodford, West Point, LEB agent. A half-brother to Grade 1 winner and sire Outwork and from the family of 2023 Saratoga juvenile winner Fierceness, he was consigned by Lane’s End, agent.
Buyers of the highest-priced yearlings featured a mix of the world’s most prominent entities. Leading buyer was Donato Lanni, agent for SF-Starlight-Madaket, who purchased 20 yearlings, headlined by a $1.1 million colt by Into Mischief, for $12.59 million. Lanni bought on behalf of a number of clients throughout the sale and paid the session-topping price of $185,000 for a Silent Name colt on the final day.
Other top domestic buyers by total purchases were West Bloodstock, agent for Repole Stable; Mayberry Farm; Pin Oak Stud; Gavin O’Connor, agent for John Stewart; Sonson, Woodford, West Point, LEB, agent; Greg Tramontin and CHC, Maverick Racing and Siena Farm.
Among the prominent international buyers were Coolmore’s M. V. Magnier, who on his own spent $6.15 million for five yearlings, including four purchased for $1.2 million or more each, and Sheikha Hissa Hamdan Al Maktoum’s Shadwell Racing, which paid the top price on opening day of $2.3 million for a filly by Into Mischief.
John Stewart, who is new to the Thoroughbred industry, acquired 13 yearlings for $8,425,000. At $2.5 million, his most expensive acquisition was a filly by Uncle Mo who is a half-sister to Kentucky Oaks (G1) winner Shedaresthedevil and was consigned by Denali Stud, agent for WinStar Farm Bred & Raised.
Major buyers such as SF-Starlight-Madaket, Pin Oak, Albaugh Family Stables/Donegal Racing, Grandview Equine, Belladonna Racing and Kenny McPeek remained active during Week 2, propelling the bullish market. Strength of trade in the latter days of the sale was reflected in the low reserve not achieved rates, which ranged between 9.79 percent and 18 percent during Sessions 7-12.
Session 7 recorded its highest price since 2015 when Gainesway, agent, sold a colt by Good Magic to Lanni, agent for SF-Starlight-Madaket for $700,000. Session 8 produced its highest-priced horse on record when Paramount Sales, agent, sold a colt by Twirling Candy to Pin Oak Stud for $925,000.
Gainesway earned it first title as leading consignor by selling 137 yearlings for $43,573,000. During the first three sessions, Gainesway sold nine horses for $1 million or more led by the aforementioned $2.3 million high seller on opening day. In Book 1, Gainesway sold five seven-figure yearlings bred by Mandy Pope’s Whisper Hill Farm, including one bred in partnership with Three Chimneys Farm.
Behind Gainesway on the list of leading consignors were Taylor Made Sales Agency, Paramount Sales, Lane’s End Farm, Denali Stud and Hill ‘n’ Dale Sales Agency. Joining Taylor Made with three million-dollar horses was Runnymede Farm, which sold two of those to lead the third session.
Two consignors celebrated the sale of their first seven-figure horses during the auction. Penn Sales sold a colt by Uncle Mo for $1.35 million, and Jody and Michelle Huckabay’s Elm Tree Farm, agent, sold a Gun Runner filly for $1.2 million.
For the fourth consecutive year, the leading sire by gross sales was Into Mischief, whose 53 yearlings - including 12 horses purchased for $1 million and more - sold for $36,995,000, including private sales to date. The amount is the highest total for a stallion at the September Sale since Storm Cat in 2005. Into Mischief also was the sale’s leading sire by average with $698,019.
Horse of the year, Kentucky Derby winner and Breeders’ Cup Classic winner Authentic, a son of Into Mischief, was the leading first-crop sire with 67 yearlings grossing $18,114,000.
During Saturday’s final session, 175 yearlings sold for $2,417,600, for an average of $13,815 and a median of $9,000.
At $185,000, the high seller was a son of Silent Name sold to X-Men Racing-Madaket Stables-SF Racing. Consigned by Grovendale Sales, agent, the colt is out of the Holy Bull mare Holy Cargo and from the family of Preakness winner Red Bullet.
The amount is the highest price paid for a yearling on the final day of the September Sale on record.