Sunday, Sept. 25
Lexington, Ky.
"There has been an optimistic, energized feeling throughout every session of this sale,"
Keeneland Vice President of Sales Walt Robertson said as the two-week thoroughbred auction sale concluded Saturday.
The final numbers were:
Gross sales:
$223,487,800 for 2,921 horses, an increase of 12.7 percent over 2010 when 3,059 horses sold for $198,254,900.
Average price:
$76,511, up 18 percent from $64,810 in 2010.
Median price: $30,000, up 20 percent from $25,000 in 2010.
Buyback rate:
20.8 percent of horses failed to meet their minimum reserve price,
a 22 percent decrease in the buyback rate from 2010.
On Saturday, Keeneland sold 185 horses for $1,308,400, up 36.6 percent from a year ago when 197 horses brought $957,200. The day's average of $7,072 increased 45.5 percent from $4,859 in 2010, while the median rose 50 percent from $3,000 to $4,500.
Kim Valerio, as agent, purchased the day's two highest-priced yearlings, paying $35,000 each for a filly from the first crop of yearlings sired by Tiz Wonderful and a colt by Henny Hughes. The filly, consigned by Shawhan Place, agent for Spendthrift Farm, is out of Summer Star. The Henny Hughes colt is out of Totally Crafty, consigned by Blake-Albina Thoroughbred Services, agent.
Note: Sign up for Business Lexington's Weekly Wire (signup box on top right of homepage) to receive Jeff Beach's in-depth wrapup of the September Yearling Sales on Tuesday.
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Saturday, Sept. 24
Lexington, Ky. Heading into its final day, the Keeneland September Yearling Sale continued to post much better sales figures over the 2010 sales.
Gross sales and average price were each up 47 percent while median price rose 102 percent on Friday.
The buyback rate, the percentage of horse who fail to meet a minimum reserve price, decreased 62.6 percent from last year to 13.2 percent Friday.
A colt by Fusaichi Pegasus brought the day's highest price of $52,000 from Tim and Cyrstal Donohue. Consigned by William Harrigan, agent, the colt is out of the mare Whalah.
In the final days of the sale, breeders are usually losing money on the horses that get auctioned.
"Breeding horses is a tough game," Harrigan said Friday. "You hope that you have two or three horses that can carry the load and make the thing profitable."
Overall, Harrigan says the sale has been "very encouraging."
Keeneland sold 197 horses today for gross receipts of $1,860,800, up 47.4 percent over last year when the same number of horses brought $1,261,600.
Average price rose 47.4 percent to $9,446 compared to $6,404 in 2010. The median price of $7,500 marked a 102.7 percent increase over last year's $3,700.
With today as the last day of the sale, Keeneland has sold 2,736 yearlings for $222,179,400, an increase of 12.6 percent from last year's $197,297,700.
Average price of $81,206 was up 17.8 percent from $68,937 in 2010. The median of $35,000 rose 16.6 percent from last year's $30,000.
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Friday, Sept. 23
Lexington, Ky. For the second day in a row, Frank Stronach's Adena Springs was the leading buyer at the Keeneland September Yearling Sale.
Adena Springs bought a dozen horses for a total of $647,000. The buys included the day's top three highest-priced yearlings, paying $110,000 each for a filly by Proud Citizen and a filly by Midnight Lute. Both fillies were consigned by Warrendale Sales of Lexington.
The Adena Springs activity lead an active trade
Thursday as 291 horses sold for $5,131,100, an increase of 62.6 percent from 2010 when 278 horses brought $3,155,000. The average of $17,633 was up 55.3 percent from last year's $11,349, while the median rose 50 percent to $12,000 compared to $8,000 in 2010.
The
September Sale continues today and runs through Saturday.
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Thursday, Sept. 22
Lexington, Ky. - Frank Stronach's Adena Springs farms continued their buying spree Wednesday at the Keeneland September Yearling Sale, buying 10 horses for a total of $600,000, including the day's highest-priced horse.
A bid of $140,000 from Adena Springs bought a colt from the first crop of yearlings sired by Kentucky Derby winner Big Brown. The colt was out of the mare Cold Awakening and consigned by Blake-Albina Thoroughbred Services. Big Brown stands at stud at Three Chimneys Farm.
Day 10 of the 13-day sale was highlighted by significant increases over the 2010 sale and the sale of six yearlings for $100,000 or more.
Wednesday, Keeneland sold 315 horses for $6,969,900, up 65.5 percent from a year ago when 294 horses brought $4,209,100. The day's average of $22,127 increased 54.5 percent from $14,317 in 2010, while the median rose 66.6 percent to $15,000 compared to $9,000 last year. The buyback rate decreased 41 percent from 2010.
Jerry and Ann Moss paid $130,000 for a colt by Macho Uno, consigned by Allied Bloodstock, agent for D.C. Goff.
A filly by Langfuhr sold for $120,000 to Mt. Brilliant Stable. She was consigned by Lane's End, agent as part of the dispersal sale for the estate of Edward P. Evans, who owned Spring Hill Farm.
The September Sale continues through Saturday.
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Wednesday, Sept. 21
Lexington, Ky. - Frank Stronach and his Adena Springs farms were not big spenders at the 2010 Keeneland September Yearling Sale. In fact, Adena Springs did not buy a single horse.
But after making a big splash early in the sale, Adena Springs has remained active deep into the sale. Adena Springs bought three horses Monday and added two more horses Tuesday, as the sale and yearling market continued to show vast improvement over last year.
Adena Springs now has purchased 15 thoroughbreds during the sale that started Sept. 11 and runs through Saturday.
Adena Springs is at fifth on the list of top buyers for the 2011 sale, spending $3.219 million so far. Of that, Adena Springs spent $1.35 million on a colt sired by Awesome Again, who stands at stud at Stronach's farm near Midway, Ky. He also has farms in Canada, New York, Florida and California.
Adena Springs also consigned one of the highest priced horses sold Tuesday. Hall of Fame trainer Bob Baffert purchased the Medaglia d'Oro colt for $200,000. A filly by War Front also brought $200,000.
On day nine of the 13-day sale, 302 horses sold for $9,579,400, an increase of 38.3 percent from 2010 when 275 horses brought $6,921,900. The average of $31,720 was up 26 percent from last year's $25,171, while the median rose 31.5 percent to $25,000 compared to $19,000 in 2010.
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Tuesday, Sept. 20
Lexington, Ky. - The Keeneland September Yearling Sale has surpassed last year's gross sales total while so far selling just over half the total number of horses from 2010.
The September sale, which still has five days of selling to go, has grossed $198,638,200 from 1,631 yearlings in eight sales sessions. In 2010's down market, there were gross receipts of $198,254,900 from 3,059 yearlings during a 14-day sale.
Keeneland made some changes to the sale format after last year, in part an effort to spread interest more evenly throughout sale sessions, which attracts thoroughbred racing stables and breeders from around the world.
The sale has shown increases in every session compared with 2010.
At Monday's session, Keeneland sold 306 horses for $12,233,200, an increase of 53 percent over 2010 when 297 horses brought $7,995,400. Average price for the day of $39,978 rose 48.5 percent over last year's average of $26,921. The median price of $25,000 was up 38.9 percent over the $18,000 posted in 2010.
Through Monday's session, the average price was $121,789 compared to $99,973 in 2010. The median price also continued to hold strong at $75,000 compared to $60,000 last year.
Trainer Mark Casse paid $230,000 for the day's top selling horse, a filly with Sky Mesa as the sire and Floral Park as the dam. She was consigned by Judy Klosterman, Agent for Langsem Farm, Inc.
The sale resumes today continues through Saturday.
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Monday, Sept. 19
Lexington, Ky. - It's usually the horses that do the running at Keeneland Race Course, but during the Keeneland September Yearling Sale, it's been the consignors.
"We were run off our feet showing horses for Book 3," said Mike Cline, farm manager at William S. Farish's Lane's End Farm. Cline reported that the 84 yearlings consigned by the farm on Saturday and Sunday, the two days of Book 3, were shown to prospective buyers a total of 9,100 times, an average of 108 showings per horse before they entered the auction ring.
Keeneland sold 292 horses for $20,575,000 on Sunday, an increase of 35.9 percent over the same session of the September Yearling Sale in 2010, when 296 horses brought $15,130,700. Average price for the day of $70,462 rose 37.8 percent over last year's average of $51,117. The median price of $50,000 was up 26.5 percent over the $39,500 posted in 2010.
The strength in prices has been consistent through the first seven sessions of the sale, which runs through Saturday. Book 4 of the sale opens at 10 a.m. today.
On Sunday, the top price for a yearling was $430,000. Hall of Fame trainer D. Wayne Lukas signed the ticket on behalf of Brad Kelley of Bluegrass Hall, for a colt by Quiet American.
"Before I quit the game I'd like to win another classic, and I'd like to win it for Mr. Kelley," Lukas said. "He's been a trooper all week buying horses, and I think we're building a very, very solid racing stable."
Top Consignors at Keeneland September Yearling Sale, through Book 3
Consignor / Gross / Average / High / No. Sold
Lane's End, agent / $23.355 million / $142,409 / $650,000 / 164
Taylor Made Sales Agency, agent / $20.377 million / $140,5311 / $925,000 / 145
Gainesway, agent / $10.743 million / $191,839 / $1.2 million / 56
Hill 'n' Dales Sales Agency, agent / $9.052 million / $205,727 / $1.4 million / 44
Three Chimneys Sales, agent / $7.408 million / $134,691 / $725,000 / 55
Source: Bloodhorse.com
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Sunday, Sept. 18
Lexington, Ky. - The second half of the Keeneland September Yearling Sales picked up right where the first half ended, with marked improvement over last year's weak numbers for the horse sale.
Saturday's session saw a 24 percent increase in gross sales from a year ago and a 25.6 percent increase in the average price. Keeneland sold 280 horses Saturday for $20,613,500, with an average of $73,620 and a median of $51,000.
Saturday was the start of Book 3, after a day off of selling on Friday.
The top selling horse of Saturday's session was colt sired by Elusive Quality with Pinafores Pride as the dam. He was bought for $425,000 by bloodstock agent John Moynihan for Barbara Banke's Stonestreet Stables of Lexington and consigned by Anderson Farms, agent for Ron Ferguson.
Trainer Bob Baffert was the top bidder for the day's highest-priced filly. He paid $400,000 on behalf of Mike Pegram for the daughter of War Pass, as well as$300,000 for a colt by Indian Charlie.
The sale continues today and runs through Sept. 24.
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Saturday, Sept. 17
Lexington, Ky. - Bernardini is a name being heard frequently at the Keeneland September Yearling Sale.
The sire who stands at stud at Sheikh Mohammed bin Rashid Al Maktoum's Darley Stud in Fayette County, was the leading sire by gross sales going into the sale's Book 3, which started Saturday at Keeneland Race Course.
Bernardini was fifth among sires in average price, but had sired 28 of the yearlings that were sold in Books 1 and 2.
The top Bernardini yearling this session, a filly out of Silk n' Sapphire, sold for $1.2 million to Benjamin Leon's Besilu Stables."I did not expect the price," breeder and consignor Catherine Parke of Valkyre Stud said after the sale.
"I knew she was a lovely filly, and I was shocked by the level of people that looked at her; people that honestly I've never had the pedigree to attract before."
Parke sold another filly by Bernardini for $625,000.
Bernardini was the winner of the 2006 Preakness after Kentucky Derby winner Barbaro pulled up lame out of the gate. Bernardini does not have as many yearlings offered in Book 3 of the sale, as he did in Book 2.
As sales resumed Saturday after a day off Friday, one Bernadini yearling did not attain its sales reserve price and another was pulled out of the sale.
The top seller early Saturday went for $250,000: a colt by Leroidesanimaux out of Songthrush bought by J.S. Moss.
The sale, the premier horse sale in thoroughbred racing, runs through Sept. 24.
Top Sires at Keeneland September Yearling Sale by Average Price, Books 1 and 2
Sire / Gross / Average / High / No. Sold
1.Awesome Again / $3,165,000 / $452,143 / $1.35 million / 7
Comment: Sired highest price filly at the sale
2.A.P. Indy / $3,295,000 / $411,875 / $1.4 million / 8
Comment: Sired sales topper out of dam Malka
3.War Front / $2,850,000 / $356,250 / $625,000 / 8
Comment: Son of Danzig and Starry Dreamer stands at Claiborne Farm
4.Street Cry / $5,627,000 / $351,688 / $1.2 million / 16
Comment: Stands at Darley Stud with Bernardini
5.Bernardini / $8,885,000 / $317,321 / $1.2 million / 28
Comment: Son of A.P. Indy; first crop of foals included Stay Thirsty
Sales figure source: Bloodhorse.com
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Friday, Sept. 16
Lexington, Ky. - After a couple of years of declining sales, there seems to be some sense of relief around the barns at Keeneland Race Course after a promising first week of the September Yearling Sale.
"Coming into this year, you are shell-shocked a little bit from the market dropping and everything," Frank Taylor, of Taylor Made Sales Agency said after the sale's opening day on Sunday. "I was kind of a little worried when we started out with three RNAs, but then we sold our next 12 or 13 in a row."
An RNA is "reserve not attained," with the reserve being the minimum bid a seller will accept. So in other words, an RNA means "no sale," and generally not a good thing for the most prestigious horse auction in the thoroughbred industry, which has suffered along with the rest of the economy.
But that opening session recovered to post positive gains over the opening day in 2010.
"Overall I thought it went well," said Taylor, with Taylor Made ending the first day as the top consignor.
The momentum has carried through the week. The top horses typically sell in Book 1, the first two days
of the sale. But as the third and final day of Book 2 continued Thursday, two horses topping the $1 million mark.
"The fact that we had two million-dollar-plus horses at this point in the sale speaks volumes," Keeneland Vice President of Sales Walt Robertson said. "Add to it that those horses rank second and third, respectively, among the top-priced horses so far in the sale is phenomenal. There are many good horses still ahead, so we're very encouraged as we move forward with a second week of selling."
Through day five of the 13-day sale, Keeneland has sold 753 horses for $145,216,500, up 22.3 percent over last year's $118,690,000. The average of $192,851 increased 17.6 percent over the $163,936 recorded in 2010. The median rose 36.3 percent from $110,000 to $150,000.
"The average is up, but the real indicator is that the median is up so high," Niall Brennan, of Niall Brennan Stables, said earlier in the week. "That's indicative of a very strong market. I think that's a wonderful sign for the industry. There's a lot of really nice horses and they're selling well."
One of the statistics that hasn't topped 2010 is the overall sales topper. Last year, a colt sold for $4.2 million, while a $1.4 million colt, sired by A.P. Indy and bought by Amerman, Evans and Co. from Hill 'n' Dale Sales agency, has been this year's top seller. And it's a far cry from the Keeneland September Yearling Sale record of $11.7 million for a colt in 2006.
But there have been six horses to sell for $1 million or more during this week's sale, double the number of $1 million and more horses at last year's sales.
"I think this sale has been excellent; the results show that. It sure has been for us," said Dell Hancock, of Claiborne Farm, which has one of the richest histories in thoroughbred racing. "It's life now: The horses aren't worth as much as they used to be. Ö But for us, it's gone fine. We've had a couple of breakout horses that have made up for the few I thought we could have done a little better on."
The are no sales today at Keeneland Race Course. The sale continues Saturday with the start of Book 3 and runs through Sept. 24.
Keeneland September Yearling Sale Top 5 Buyers:
Name / No. of Horses / Gross Avg. / Comment
1. John Ferguson - 36 / $8,870,000 $246,389 / Buyer for Sheikh Mohammed Bin Rashid Al Maktoum
2. Besilu Stables - 12 / $7,675,000 $639,583 / Florida health care executive Ben Leon has paid more than $1 million each on two fillies
3. Shadwell Estate Co. - 17 / $6,355,000 $373,824 / Owns two stud farms in England
4. Ben Glass, agent - 13 / $3,845,000 $295,769 / Bloodstock advisor to Gary and Mary West, a California couple who own Dell Ridge Farm in Fayette Co.
5. D.L. O'Byrne - 6 / $2,805,000 $467,500 / Agent for Ireland's Coolmore stud, a Bernardini colt was top buy.
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Thursday, Sept. 15 :
Lexington, Ky. - Two more million dollar horses sold Thursday during the Keeneland September Yearling sale, adding some exclamation points to a session that was already making a very positive statement over last year's sale.
Benjamin Leon Jr. of
Besilu Stables snapped up a filly by Unbridled Song for $1.3 million and just minutes later, Adena Springs paid
$1.35 million for a bay colt sired by Awesome Again with Legs Lawlor as the dam.
It's the first million dollar horse to come from Greenwood Lodge Farm in Bourbon County, owned by Bill and Carole McAlpin.
Mark Roberts, manager of the Adena Springs South farm in Florida called him "a very elegant" horse.
"I didn't think he would bring that much early on, till I was back in the walking ring,"
Roberts said, referring to the crowd of interested bidders who scope out the upcoming offerings.
McAlpin said he knew he had a good horse that was drawing plenty of interest from prospective buyers, but wasn't sure what to expect from a yearling market that has suffered in recent years but is showing signs this week that it is on more solid footing.
"It's been a very solid sale," McAlpin said.
Sales figures have been up ever day of this week's sale and in every category when compared with last year.
The $1.3 million for the filly beat this year's record price for a filly in North America, a record that had been set Tuesday, another horse purchased by Besilu Stables, during the first week of the thoroughbred industry's top yearling sales event.
The filly by Unbridled Song is out of Lady of Choice and consigned by Dromoland Farm.
"We are focusing on the horses that will feed our program." Leon said. "When we find something that fits our program, it's difficult to let 'em go."
Leon, a Miami-based health care executive, is among the biggest spenders at this year's sale. In addition to the two fillies, he has paid $925,000 for a colt out of Street Cry and $725,000 for filly sired by Tapit. In 2010, he bought the September sale topper, now named Mr. Besilu,
for $4.2 million.
Last year's overall top price is one that has not been topped this year.
But there now have been six horses to sell for $1 million or more this week at Keeneland Race Course, double the number of $1 million and more horses at last year's sales.
The sale runs through Sept 24, with no sales Friday.
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Wednesday, Sept. 14 :
Lexington, Ky. - A colt sired by Tapit and bred at Gainesway Farm topped Wednesday's bids at the Keeneland Yearling Sale, which is seeing improvement over the opening days of last year's auction.
Jon and Sarah Kelly of California paid $650,000 for the son of Tapit, who raced in the 2004 Kentucky Derby, and Don'tellmichelle. The colt is a full brother to Hightap, a grade III stakes winner.
Earlier Wednesday, it looked like for the second day in a row, a horse sired by Bernardini would top the bids.
John Ferguson, who buys horses on behalf of Sheikh Mohammed bin Rashid al-Maktoum, bid $625,000 for a colt by Bernardini, who won the Preakness in 2006 after Kentucky Derby winner Barbaro pulled up lame.
Bernardini now stands at stud at the sheikh's Darley Stud farm in Fayette County.
Ferguson had high praise for the colt's dam, Ava Knowsthecode. "It's as solid as a rock; the mare has done it every time," Ferguson told BloodHorse.com of the dam's ability to produce runners, the best of which has been Keyed Entry.
Wednesday was the second day of Book 2 at the Keeneland Sales. The Book 1 sales, which typically draw the highest bids, were Sunday and Monday.
In this year's Book 1, 129 yearlings sold for $45,600,000, for an average of $353,488 and a median of $300,000. During last year's yearling sale, 127 horses sold during the two-evening select sale for $44,305,000, for an average of $348,858 and a median of $285,000.
"We saw a good cross-section of buyers, including new faces as well as familiar ones," Keeneland Vice President of Sales Walt Robertson said after Book 1 of the premier sales auction in Thoroughbred racing closed Monday. "There was an improvement in the percentage of horses sold this session, which is important to consignors because that means horses are moving. Looking at the whole of Book 1, we are up in average and median."
Wednesday saw 215 horses sold for $32,819,500, an increase of 37.5 percent over 2010, when 196 horses brought $23,859,000. Average price for the day of $152,649 rose 25.4 percent and the median price of $130,000 was up 52.9 percent from 2010.
Tuesday, the first day of Book 2, was topped by a yearling sired by Bernardini. The $1.2 million paid by Benjamin Leon is the most paid for a yearling filly at public auction in North America this year. It was the fourth million-dollar baby sold at this year's September sale, compared with three year.
Ferguson was active Wednesday, bidding $325,000 for another Bernardini colt, and putting in the top bids for a Street Boss colt, a colt and a filly by Raven's Pass, and a colt and a filly sired by Street Sense, winner of the 2007 Kentucky Derby.
After four days of selling, 544 yearlings have been sold for $111,176,000, up 16.4 percent from last year's $95,456,000, according to a Keeneland statement. The average of $204,368 rose 12.8 percent from the $181,131 reported at this point in the sale a year ago, while the median of $170,000 increased 41.6 percent from $120,000 in 2010.
The sale is scheduled to run through Sept. 24 at Keeneland Race Course in Lexington, with no auction on Friday.