The 2025 Keeneland September Yearling Sale closed Saturday with historic results, becoming the highest-grossing Thoroughbred auction ever held worldwide. Over 12 sessions, Keeneland sold 3,070 yearlings for a combined $531.5 million, surpassing last year’s record of nearly $428 million by more than 24 percent.
Keeneland photo Keeneland Photo
Hip 177, a colt by Gun Runner, brought $3.3 million, the top price at the 2025 Keeneland September Yearling Sale.
The auction, conducted September 8–20, generated $510.5 million in through-the-ring sales and an additional $21 million in post-sale transactions. Leading the results was a $3.3 million Gun Runner colt purchased by M.V. Magnier, Peter Brant’s White Birch Farm, and Ron Winchell’s Winchell Thoroughbreds.
Historic milestones included 56 yearlings bringing seven figures, eclipsing the previous record of 40 set in 2005. Day two produced 20 million-plus-dollar horses, while cumulative averages and medians also set new benchmarks. The sale posted a record average of $175,807, up nearly 17 percent from last year, and a record median of $80,000, up more than 14 percent.
“What an incredible September Sale,” Keeneland President and CEO Shannon Arvin said. “We definitely had reasons to be optimistic going in, but the strength of the results day after day exceeded even our highest expectations. From start to finish, the energy on the grounds never waned.”
International demand was a major driver, with buyers representing 33 countries. “Keeneland has long been a destination for international buyers, and we work hard year-round to build relationships and attract buyers from all over the world,” said Keeneland Vice President of Sales Tony Lacy. “This is a sale where you can find an American classic winner or a European classic winner.”
Eighteen buyers spent $5 million or more, up from 14 last year, while 120 spent at least $1 million. Leading buyer Mike Repole’s Repole Stable acquired 33 horses for $14.2 million. Other major spenders included Donato Lanni for SF Racing/Starlight/Madaket, Spendthrift Farm, and Case Clay Thoroughbred Management.
Taylor Made Sales Agency was the top consignor for the 26th time since 1988, selling 333 yearlings for a consignor-record $68.5 million, led by a $2.2 million Gun Runner colt purchased by Wesley Ward. Clearsky Farms topped consignors by average at $604,167, buoyed by a $1.6 million Flightline colt.
Sires also made headlines. Not This Time led by gross, with 55 yearlings selling for $38.6 million, including 14 at $1 million or more. Gun Runner accounted for 12 million-dollar yearlings in the first week and 40 overall, totaling $35.1 million. Flightline, whose first crop was heavily anticipated, saw 44 yearlings sell for $30.6 million, including a $2.2 million filly purchased by LSU Stables, the highest price paid worldwide for a first-crop Flightline.
Bloodstock agent Marette Farrell noted the competitive market. “[Buying in a record market is] a case of perseverance and really believing in the horses that you’re going to try to buy,” she said. “Obviously, you have to prep the owners that it’s a record sale and be careful: Don’t get caught up in just buying a horse.”
Keeneland executives and industry leaders said the results underscored the market’s strength. “The results of this sale reflect a shared achievement for the industry and a powerful source of optimism for the future of racing and breeding,” Lacy said.
Taylor Made CEO Mark Taylor added: “Keeneland having a big sale just puts more money into purses, more money into a world-class experience when you come race in Central Kentucky. These things are so positive and gives us a lot of optimism for the future.”