The Thoroughbred auction ring is a place of cycles. Mares walk through in the winter, go to a new home, and two years later, their yearlings step in. Sometimes, the cycle can move people from one side of a sale to another.
Mandy Pope, owner of Whisper Hill Farm in Citra, Florida, found herself in just such a position this week as Keeneland hosted the start of its September yearling sale. The sale’s Book 1, comprising slightly more than 700 horses hand-selected by Keeneland officials as the best yearlings in the auction, saw the first produce of Pope’s elite broodmare band make their way to the ring. Pope made headlines in late 2012, when she dropped $14.2 million on two mares (Horse of the Year Havre de Grace at $10 million and Kentucky Oaks winner Plum Pretty for $4.2 million) and racked up more expensive broodmare buys at subsequent auctions, including Betterbetterbetter the next November for $5.2 million.
Although she has sold yearlings before, this was the first year her seven-figure dams had horses in the September sale. On Monday, Pope’s first yearling out of Betterbetterbetter, a filly by War Front, brought $1.45 million to Shadwell Estate Co., one of 11 seven-f gure sales in Book 1. Timber Town Stables, located on Leestown Road, consigned the horse.
“It was very exciting for Mandy Pope,” said Keeneland director of sales Geoffrey Russell. “She has invested a lot of money in the horse business, and now she’s recouping some of that investment. I think she’s very happy [the filly] went to Rick Nichols and the Shadwell team, and Keeneland is very appreciative of their constant support.”
Pope did some spending of her own this sale as well, shelling out $2.1 million for Hip 614, a colt by Tapit out of Silver Colors, consigned by Gainesway. She said she went over budget for the colt (way over budget — she had bought the horse’s full sibling in 2014 for $700,000), but she was tired of being outbid.
“I could see several people we were bidding against,” she said. “It was like, ‘I want this one,’ so I would come right back on top of their bid to try to get them to stop.”
In this case, Pope’s opposition was a heavy-hitting trio — California owner Kaleem Shah, Hill ‘n’ Dale Farm president John Sikura, and 2015 Triple Crown-winning trainer Bob Baffert.
For life-long horsewoman Pope, who is well-known for her habit of visiting with recent purchases and showering them with peppermints, the colt sealed the deal when she spent some time with him back at the barn.
“From the first time I saw him, I said, ‘He’s going home with me,’” she said. “I just didn’t think it would cost this much. I just fell in love with him. “He’s very friendly. He definitely passed the snuggle test. I have to learn to quit doing that, because as soon as I do, the consignor’s [checking me off as the buyer].”
Overall, the sale’s first book reflected steady numbers amidst a new format. Last year’s select horses were spread over four short sale days, while this year officials selected fewer horses and shortened Book 1 to three days.
Last year’s Book 1 saw 473 horses sold for a total of 142,153,000, while this year, 443 horses sold for $134,361,000. The average price rose slightly from $300,535 last year to $303,298 this year, as did the median, which increased from $240,000 to $250,000.
“Book 1 ended on a very high note this afternoon,” said Russell. “It looks like the exact same sale last year to this year. I think it was steady all the way through.”
The sale also saw a number of horses that drew high bids but that did not attain the reserves placed on them by their consignors, including one Tapit colt that attracted interest up to $1.2 million. Overall, the rate of RNAs was not much different from last year’s first three sessions, however—30.9 percent as compared to 28.9 percent. Russell attributed the rate, which is a little higher than open yearling auctions, to high standards on the part of breeders, who have invested a lot into their best yearlings and may be willing to race them if they don’t bring an adequate price.
One of Pope’s yearlings, a son of $4.2 million mare Plum Pretty and Distorted Humor, was one such horse, leaving the ring as a no-sale at $725,000.
Kentucky stallions Tapit and War Front continued the commercial domination they have enjoyed in recent years, with the two horses siring five of the top 10 yearlings by price. Of his yearlings that met reserve, Tapit’s off spring brought an average of $540,172 — not a bad return for the Gainesway stallion, whose fee was $125,000 the year these yearlings were conceived. War Front, who stands at Claiborne Farm, stands for $150,000 this season and his yearlings brought an average of $636,842 in Book 1.
Bloodstock agent John Ferguson, regular buyer for Sheikh Mohammed bin Rasheed al Maktoum was the sale’s top purchaser, taking home 22 horses for $7,965,000. Nicholasville-based Taylor Made Farm was the sale’s top consignor, selling 61 horses for a total of $18,795,000.
The Keeneland September yearling sale was set to resume Sept. 18 and continue through Sept. 26.