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Lexington, Ky - Closing figures for the third day of Keeneland’s November sale demonstrated a drop from last year’s third day close due to the large farm dispersals that were part of the 2011 Keeneland November sale. But the average price dips were less drastic than those of Wednesday’s session.
Thursday’s gross sales were $22,278,500 for 234 horses sold, with an average of $95,207 and median of $75,000. As compared to the unrefined 2011 figures, that would make a decline of 31.1 percent for the average and 24.4 for the median. When the horses from last year’s dispersal are removed from the 2011 figures, the average is down only 10.8 percent and the median only 11.8 percent.
“I thought the babies sold well. There were a few surprises on the high side, and good trade all day, until the last mare,” said Walt Robertson, Keeneland’s vice president of sales. “I feel pretty good about [the market], I like the fact that we seemed like we had more end users on the weanlings, and … several of them brought over $250,000.”
The day’s highest price was for Hip 649, broodmare Tell It, who dropped the hammer at $540,000 for consignor Claiborne Farm. Tell It is by the famed Storm Cat out of Claiborne’s Mr. Prospector mare Preach, making her a half sister to Pulpit, another Claiborne stallion.
“We’re actually surprised. She’s a fifteen-year-old mare,” said Bradley Purcell of Claiborne. “Preach is a foundation mare for Claiborne … we don’t sell much out of Preach, especially daughters.”
The sale ticket for Tell It was signed by Blandford Bloodstock, an English-based bloodstock consultant.
“That’s a collector family, a great family throughout, and people pay for it,” said Walt Robertson.
The second-highest price of the day was Hip 620, six-year-old broodmare Spring Party, who sold to Stonestreet Farm for $525,000. Spring Party is by popular sire of sires Smart Strike, and is carrying a foal by Unbridled’s Song, who currently commands a $76,500 stud fee.
“She was a mare that could’ve gone into Book 1,” said Mark Taylor, vice president of sales and marketing at Taylor Made Sales, “but the owner decided he wanted to put her in Book 2, kind of let the sale get going, and it paid off.”
Taylor said he wasn’t surprised by the final price tag, which he thought would be at least $400,000.
“She was one of the better-pedigreed mares in [the sale] today, and she’s got a very live pedigree. Obviously her half brother, Emcee, (also by Unbridled’s Song) is one of the top sprinters this year.”
Agent John Moynihan, bloodstock agent for Stonestreet owner Barbara Banke, purchased four horses for a combined $2.31 million for Stonestreet out of Tuesday’s session. He noted that competition for the standout mares has been extremely tough.
“We’re just trying to find good mares for value. It’s pretty hard finding them for value. We’re very happy with what we’ve got,” said Moynihan.
Taylor Made Sales also consigned Hip 503, the highest-priced weanling of the day. The bay colt is by sought-after stud Bernardini and out of Mining mare Mining My Business. A closer look at his catalogue page indicates his mother is a half sister to Real Quiet, the winner of the 1998 Kentucky Derby (G1) and Preakness Stakes (G1), who very nearly became the first Triple Crown winner in 20 years.
“We went out and looked at a horse that just retired called Algorithims [one of Bernardini’s first offspring to go to stud]. He’s a beautiful horse, has a long, thin neck and really great shoulder, just beautiful balance. This horse reminded me of him a lot. The mare’s already proven she can throw a runner [his half sister is Kentucky Oaks (G1) runner-up Real Cozzy],” said Taylor. “I think that horse could bring more than that next year.”
Feelings about the day’s prices were generally positive among sellers and consignors.
“Weanlings are really strong. As long as they’re nice and they vet [pass their physical exam], they’re bringing a bunch of money, said Mark Taylor. I’ve seen some go through here … that just didn’t belong in Book 2, and they’ve been getting hammered, but as long as you’ve got the horse that really fits, they’re doing good.”
The Wednesday session brought the gross sales for the first three sessions of 2012 up 4 percent from 2011 (with last year’s Edward P. Evans dispersal horses left out of the figures), and the average down 1.2 percent. The median however, is currently experiencing a more significant 23 percent drop from 2011’s first three opening sessions. Wednesday’s session brought the cumulative rate of horses not meeting their reserve to 30.7 percent.