Hip 749, a son of Tapit and graded stakes-winning mare Justwhistledixie, sold for $2.2 million, tied for the most a horse sold for during Keeneland's September Yearling Sale. Photos Courtesy of Keeneland
Lexington, KY - The conclusion of Keeneland’s 13-day September Yearling Sale on Sunday saw steady numbers across the board compared to last year’s auction, although the trends between sessions show a strengthening middle market.
Overall, 2,819 horses were sold for $279,960,500, just 0.2 percent off last year’s gross receipts of $280,491,300. The average sale price was down 2.8 percent, from $102,220 to $99,312 per horse, while median remained unchanged at $50,000.
This year’s sale debuted in a similar fashion, with increases in average and median (7 percent and 15 percent) in the sale’s prestigious Book 1. Book 1 is the section of the sale with what Keeneland’s sales team estimates to be the most commercially appealing horses in terms of pedigree, conformation, and soundness — which makes it the source of several seven-figure horses each year. At the end of Book 1, which spanned four days, 13 yearlings had sold for $1 million or more.
Two colts tied for highest price of Book 1, garnering $2.2 million after hotly contested bidding. The first, Hip 680, is a son of War Front out of Arch mare Gold Vault, making him a half brother of Grade 1 stakes winner Contested. M.V. Magnier of Coolmore, one of Ireland’s most powerful buying forces, signed the ticket.
The second topper came just a few hours later — Hip 749 is a son of Tapit and graded stakes-winning mare Justwhistledixie, who was consigned by Clearsky Farms and purchased by Shadwell, the Dubai-based racing and breeding operation belonging to Sheikh Hamdan bin Rashid Al Maktoum.
Kentucky-based Tapit was the leading sire at the sale by far, with 36 of his offspring bringing a total of $21.7 million. Just one yearling left the ring for less than six figures, with his progeny selling for an average of $603,472.
Aside from the Gainesway Farm stallion, other leaders at the sale included top consignors Lane’s End Farm of Versailles. Ky., and Taylor Made Sales of Nicholasville, Ky. John Ferguson, agent for international racing and breeding operation Darley, was the top buyer, picking up 22 yearlings for $7.88 million. As always, the sale garnered international attention, with buyers coming in from Europe, Dubai, Saudi Arabia, Qatar, Japan, Korea, Russia, and Central and South America.
Those buyers faced a tough bidding atmosphere early on. Over the first two books, more horses sold at $400,000 or more, signifying a strong upper middle market — 121 yearlings met or broke the $400,000 mark in the sale’s first six days this year, while only 105 did so last year. The trend was reflected in the numbers — the average and median prices leapt by double digits four out of five sessions after the close of Book 1.
“The success of this sale flows from the fact that we continue to operate in a fair, realistic market,” said Walt Robertson, Keeneland’s vice president of sales. “We had a significant improvement in results the last two years. Now we’re seeing consistency and stability in the market, which fuels optimism, heightens buyer confidence and spurs competition.”
Even on the final day, the back ring was an example of that optimism. As the final dozen horses entered the back of the sale pavilion, preparing to go through the ring, the prices may have been lower (four figures instead of seven), but trainer Brent Davidson wasn’t watching the proceedings any less intently. Davidson, an Oklahoma native, comes to the September sale on its last few days to try to find a bargain.
“I come on the last four or five days,” said Davidson, whose string is currently running at Remington Park. “I just want a value. The million-dollar horses really don’t work where I run. These kinds of horses work there.”
Although he also looks at some of yearlings over at the barns ahead of time, Davidson prefers to watch the sale from the buzzing back ring, where he can catch a glimpse of each horse walking by before it comes up for bid. He has had a lifetime’s education in sizing up a horse quickly — Davidson’s father was a well-respected trainer for decades in Texas, and his wife, Colleen, is also a well-known owner/ trainer. He knows what he wants to see.
“I always like a speed horse, and hopefully it’ll run long,” he said.
If he likes what he sees, he’ll trust the consignor’s veterinary report on the horse. Davidson is also looking for certain types of behaviors. When yearlings arrive at the pavilion and are surrounded by the noise of the auctioneer and people milling around, they can get frightened or fractious. Davidson doesn’t mind a frightened horse, but he’d rather not see a “problem child.”
Davidson reported on Sunday that in addition to the buyer confidence Robertson noted, sellers seemed to be pretty confident as well — a number of horses were withdrawn from the sale’s last two sessions, possibly indicating owners’ preference to race instead of sell, or to take the horses elsewhere in search of a higher price. That didn’t stop Davidson. With just a few hips left in the auction, he had bought six horses and was on the hunt for one or two more.
Kentucky’s next public Thoroughbred auction will be Fasig-Tipton’s October Sale of yearlings Oct. 20-22.