2017 Keeneland November Sales
Keeneland November wrapped its 12-day auction of weanlings and breeding stock on Nov. 18 with solid year-to-year figures and an eye toward new sire American Pharoah.
Total sales for the auction, held Nov. 7-18, were $202,021,700 for 2,424. Gross receipts were down 6 percent from last year, but the average price of $83,342 was up 3 percent from 2016. The median price was up 22 percent to $30,500. Last year’s figures included a dispersal from Conquest Stables, which totaled 100 horses that sold for more than $11 million.
Dispersals, which typically happen when an owner or breeder is getting out of the business, tend to skew final figures in an auction because they may include bloodlines that wouldn’t be offered publicly, which can impact demand. Dispersals also lower the RNA rate.
The RNA rate for Keeneland November was 25 percent, which was down slightly from 27 percent last year.
The sale was a huge success for Triple Crown winner American Pharoah, whose first foals were among the weanlings offered at the auction. The son of Pioneerof the Nile, who stands at Coolmore at its American and Australian locations, had five offspring in this sale. The average price was $416,000, a healthy return on his 2016 stud fee of $200,000. (His 2018 stud fee has been listed as private.)
Purchasers at both the Fasig-Tipton November Sale and Keeneland’s November auction have commented on the strong physical appearance of American Pharoah’s offspring so far. Besides giving him great sale averages out of the gate, this month’s results could also boost the quality of mares booking to him for the 2018 season.
Photo courtesy Keeneland
Stellar Wind, a daughter of Curlin, commanded a sale-topping $6 million at Keeneland November.
One of the highest-price dates he’ll have next year include Stellar Wind, who commanded a sale-topping $6 million at Keeneland November from the Lane’s End consignment. The daughter of Curlin retired after this year’s Breeders’ Cup Distaff as the winner of more than $2.2 million in 16 career starts, including six Grade 1 races.
Coolmore’s M.V. Magnier signed the ticket on the mare and told the media she would be bred to American Pharoah in 2018.
“We came out here early before the Breeders' Cup and we went around looking at a lot of the American Pharoah foals. They've really impressed us and we feel the sales last night and today, the reaction to them is quite amazing,” said Magnier.
John Sadler trained the Eclipse Award winner for owner Hronis Racing and traveled to Central Kentucky from his California base to be on hand for the sale. He admitted the event was an emotional one.
“To see her go is a little sad, but she's going on to her next career so we're happy she's going with the world's best connections,” he said. “We had her for three years and we loved her, and she was so great for us. We're going to miss her a lot but we're happy to get such a great result and have her to go such good people.”
Sadler told media Stellar Wind’s favorite treats are peppermints, and he bought a bag of mints to accompany her to her new home.
Stellar Wind was one of 18 horses selling for $1 million or more through Keeneland November and her price tied the second-highest price for a broodmare prospect sold at Keeneland.
Overall, Keeneland officials saw the strong final figures as a continuation of momentum from the yearling market this autumn. Keeneland Vice President of Racing and Sales Bob Elliston also pointed out that November’s middle market improved somewhat this year. For the past several years, public auctions have favored the upper end of the market with competitive bidding, and only rewarded horses with exemplary bloodlines, physical conformation, and veterinary exams.
“The buoyant market we experienced in September flowed throughout this November Sale,” said Elliston. “Buyers are positive about the economy and the horse industry, and they are enthusiastic to invest, often more than originally budgeted, in that outstanding individual. Consignors set reasonable reserves and final prices blew past those reserves in many cases. The strong showing from Book 1 and the middle market gives us reason to be optimistic that this trend will continue.”
The next public auction in the Lexington area will be the January Horses of All Ages Sale at Keeneland, which takes place Jan 8 to 12.
Natalie Voss is an Eclipse Award-winning writer and features editor for the Paulick Report, an independent horse racing news and business publication. Voss is a five-time nominee for the Stanley Bergstein Writing Award for investigative reporting. Her coverage of the equine industry has appeared in Business Lexington, the Chronicle of the Horse, The Horse magazine, The Blood-Horse, and Acreage Life, among others