LEXINGTON, KY (Sept. 21, 2024)<\/b>\u00a0\u2013 Keeneland\u2019s September Yearling Sale concluded its record-breaking run on Saturday with total sales through the ring of $411,749,500 to be the highest-grossing Thoroughbred auction in the world. The average of $150,548 is a September Sale record, while the median of $70,000 equals the record for a September Sale. Fueling the dynamic results was competitive trade among the world\u2019s most prominent buyers, driving the sale of 36 seven-figure horses (including one sold privately) for the most since 2005 and the purchase of a son of Curlin for $5 million \u2013 the highest price for a colt at the auction since 2006 and the most expensive horse sold at public auction this year in North America.<\/p>\n
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The record gross for the 12-day auction, held Sept. 9-21, bested the previous record of $405,495,700 set during the 2022 September Sale.<\/p>\n
This year\u2019s gross represents a 4.47% increase over $394,127,900 when 2,754 horses sold through the ring at last year\u2019s 12-day sale. A total of 2,735 horses were sold this year.<\/p>\n
Average price of $150,548 rose 5.20% over last year\u2019s record $143,111. On Day 2 of the 2024 sale, the average of $611,038 established a September Sale session record, besting the previous mark of $589,814 from the same session in 2006.<\/p>\n
Median price for the entire sale of $70,000 increased 4.48% from last year\u2019s $67,000 and equaled the record of $70,000 set in 2022.<\/p>\n
Additionally, as of Sept. 21, 153 horses that did not meet their reserve price in the ring were sold privately for a total of $16,050,000 to push gross sales to $427,800,000. Total sales including yearlings sold privately exceeded the record of $418,353,700 set in 2022.<\/p>\n
\u201cThe September Sale truly is the world\u2019s marketplace,\u201d Keeneland President and CEO Shannon Arvin said. \u201cWe thank everyone who participated, especially the breeders and sellers who presented an exceptional group of yearlings and the buyers who responded enthusiastically to the quality. \u201cKeeneland shares their confidence in the sport, and that\u2019s why we adhere so strongly to our mission to reinvest in racing and sales, which go hand in hand,\u201d Arvin said. \u201cThe construction of the Paddock Building and the improvements to the Sales Pavilion, along with the enhanced hospitality and amenities, are all done with the goal to provide our customers, both now and in future generations, with the best environment possible for success.\u201d<\/p>\n
\u201cThe energy here was at times reminiscent of another era,\u201d Keeneland Vice President of Sales Tony Lacy said. \u201cWhen we were on inspections earlier this year, we saw quality and consistency among the crop, and it gave us a lot of excitement. And when the horses showed up at the sale it verified our expectations. The market was very broad based. We saw new faces and welcomed back people we haven\u2019t seen in years from all over the world who returned because of their confidence in the U.S. industry and Keeneland being a global marketplace.\u201d<\/p>\n
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Among the contributing factors cited for the renewed confidence in the U.S. industry are rich purse levels across the country driving demand for racehorses; the success of American-bred horses racing around the world; and stronger medication regulations at race tracks and auctions.<\/p>\n
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\u201cSeeing new people coming into the sport and investing significant amounts of money these past two weeks is a great sign of an upward swing in the sport,\u201d Lacy said. \u201cWe feel people also see where our vision is going forward for Keeneland. We made improvements in the Sales Pavilion to make our customers feel more welcome, to create a better environment and to make us feel more approachable. When horsemen see our massive investment in the construction of new buildings, in the facility and in the industry in general, they see we are ambitious about the future, not just for one sale or one decade, but from a generational perspective. We are very optimistic.\u201d<\/p>\n
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In addition to the record results, key metrics evidenced the unprecedented strength of the September Sale market and the depth of diversity among consignors and buyers:<\/p>\n
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\u201cWe are very pleased with the sale; hats off to the breeders,\u201d Keeneland Senior Director of Sales Operations Cormac Breathnach said. \u201cThe most gratifying thing for us is to see buyers from 31 countries who have bought from the September Sale catalog. Twenty-four different buyers bought the 36 seven-figure horses, which is a record in terms of the number of individual people who have participated at that level, both international and domestic. That\u2019s the market we try to provide the people who support us. There is a lot of effort by our team to pay back the people who send us these beautifully prepped and well-bred and well-raised athletes.\u201d<\/p>\n
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For the fourth consecutive year, the format of the first four days of Week 1 \u2013 Books 1 and 2 \u2013 remained consistent with more than 1,000 yearlings judged to be the sale\u2019s finest individuals based on conformation and pedigree. This structure enabled major domestic and international buyers to inspect the largest number of exceptional horses possible before the \u201cdark day\u201d on Friday, Sept. 13.<\/p>\n
\u201cThe feedback from buyers about the format has been so positive, which is really encouraging,\u201d Lacy said. \u201cWe put a lot of effort into stabilizing the format to create consistency and emphasize physical conformation and athleticism up front. We have a formula that works with our buyer base and that\u2019s key to a successful sale. The momentum from Week 1 then carries forward into Week 2. There was some selectivity through the sale. But the median was up in every session, and it was great to see the stability of the market at all different levels.\u201d<\/p>\n
Demand at the top of the market during Week 1 sparked gross sales of $253 million, up 7.78% from last year\u2019s $234 million for the corresponding period. Average price of $394,575 rose 7.27%, while the median remained unchanged at $300,000.<\/p>\n
Mandy Pope\u2019s Whisper Hill Farm bought the session toppers on each day of the premier Book 1 catalog. On Sept. 9, she paid $2.2 million for a colt by Gun Runner out of stakes winner Princesa Carolina who was consigned by Four Stars Sales, agent, and went to $5 million the following day for the Curlin colt, who is a full brother to multiple Grade 1 winner Clairiere. He was consigned by Indian Creek, agent for Stonestreet Bred & Raised.<\/p>\n
The $5 million for the Curlin colt is the highest paid for a colt at the September Sale since Meydan City sold for $11.7 million in 2006.<\/p>\n
Week 1 was \u201cwonderful,\u201d said Sarah Sutherland of Indian Creek, which sold 12 horses for $10,445,000 led by the $5 million sale topper and a colt by Nyquist for $1.2 million, during the four days. \u201cThe market is very, very strong for those top horses. A lot of people are saying, \u2018I can\u2019t get anything bought, it\u2019s tough, like it\u2019s so strong\u2019.\u201d<\/p>\n
There was tremendous depth and diversity in the September Sale buying bench assembled by Keeneland\u2019s sales team as part of a global, year-round outreach and recruitment strategy, which sets the auction house apart from its competitors.<\/p>\n
\u201cThe whole process of putting the September Sale together is a team effort,\u201d Breathnach said. \u201cWe rely first and foremost on the support of the breeders and consignors, who bring the horses here. Then it\u2019s incumbent on us to reinforce the strength of the sale each year and attract more and more buyers from around the world and domestically. And our international outreach is paying dividends. This past year, sales staff traveled all over the world: the Middle East, Japan, Eastern Europe, Ireland, England, South America, Australia and at race meets across the U.S. We\u2019re really putting our best foot forward to engage the international community as well as the domestic buyer base.\u201d<\/p>\n
Leading buyers featured a mix of the world\u2019s most prominent entities, with domestic buyers flexing their spending muscle to take the top five spots: Donato Lanni, agent for SF\/Starlight\/Madaket; Belladonna Racing, Cherie DeVaux, agent; West Bloodstock, agent for Mike Repole Stable; Mandy Pope\u2019s Whisper Hill Farm; and John Stewart\u2019s Resolute Bloodstock.<\/p>\n
\u201cI thought it was probably one of the better groups of horses selected for Book 1,\u201d said Lanni, who on behalf of SF\/Starlight\/Madaket paid $11,330,000 for 18 horses to be the September Sale leading buyer for the second consecutive year. Among their purchases were three seven-figure horses: a Nyquist colt for $1.15 million; a colt by Not This Time for $1.15 million and a Tapit colt for $1.05 million.<\/p>\n
\u201cIt was one of the strongest sales I\u2019ve ever seen at Keeneland,\u201d Lanni added. \u201cIt was great to see so many people here buying horses, and it was extremely competitive. If we wanted to buy a horse, it cost more. You had to be ready to give more than you expected. There were some people at this sale I hadn\u2019t seen in long time, so (Keeneland) did a good job bringing them in as well.\u201d<\/p>\n
Belladonna Racing, Cherie DeVaux, agent, bought 20 yearlings for a total of $9,845,000, led by a colt by Not This Time for $1.3 million, to be the sale\u2019s second-highest buyer.<\/p>\n
\u201cKeeneland did a great job and put on a great show,\u201d said David Ingordo of Belladonna Racing on Day 10 of the sale. \u201cAnd they haven\u2019t taken their foot off the pedal just because we\u2019re in Book 5. I\u2019m a big supporter of Keeneland because they put back into the industry. They take the money that is made at the sale, and they put it where my favorite spot is, and that is up there at the finish line. And they are doing it all year long, and then they take time for the community.\u201d<\/p>\n
\u201cBook 1 (had) one of the strongest groups of physicals I\u2019ve seen for a while,\u201d said Nick deMeric, whose deMeric Sales purchased eight yearlings for $1,095,000. \u201c(Keeneland) did a very good job managing it. It wasn\u2019t just reflected in the prices, but also in the momentum the sale got from the word go. As we all know, it carries over. It keeps the sale strong when you start off strong.<\/p>\n
\u201cWhen enough of us get shut out in the early parts of the sale, we\u2019re just going to work harder later in the sale,\u201d deMeric said. \u201cWe got one yesterday (Sept. 18) we paid $110,000 for and we thought we would get it for $60,000. It definitely carried over. The better physicals were well received and hard to buy as a result.\u201d<\/p>\n
Consignors reaped the rewards of the action-packed market. Through Lane\u2019s End, agent, Blue Heaven Farm sold a Curlin colt for $1.4 million and a Gun Runner filly for $975,000 during Book 1.<\/p>\n
\u201cWe are a small family operation,\u201d Blue Heaven Co-Owner, President and General Manager Adam Corndorf said. \u201cWe have had a few good ones over the years, but this was the first year we had two high-end horses that got up in the stratosphere. It was a dream come true. There was a good broad base of lookers, including pinhookers, international and domestic buyers. The top end of the market was what we expected, but we were pleasantly surprised with what our horses brought in that second tier, in Book 3.\u201d<\/p>\n
Consignor Everett Dobson\u2019s Candy Meadows Sales sold a Nyquist colt for $1.15 million and an Into Mischief colt for $1 million to celebrate its first seven-figure sales.<\/p>\n
\u201cIt\u2019s been an awesome sale,\u201d said Tom Hinkle of Hinkle Farms, which sold all 20 horses in its consignment for $6,175,000, highlighted by a Curlin half-sister to champion and sire Nyquist for $1.2 million and a Constitution colt for $1.1 million. The former is the third million-dollar September Sale horse out of the mare Seeking Gabrielle.<\/p>\n
\u201cWe budget every year for what we think our yearling crop is going to bring and we\u2019re fairly conservative, and it has considerably exceeded our expectations,\u201d Hinkle added. \u201cAs far as I\u2019m concerned, Keeneland has done a fabulous job. The way they put together Books 1 and 2 has been really good and everybody has gotten used to it. They have done a heck of a job recruiting active buyers from all parts of the world. If you had the right horse and it met the criteria, you were greatly rewarded.\u201d<\/p>\n
The bullish market continued through Week 2 of the sale, as major Week 1 buyers actively competed alongside new waves of international clientele.<\/p>\n
\u201cAll the way through the sale there were quality horses distributed throughout the books,\u201d trainer Eddie Kenneally said during Session 10. \u201cObviously, there was more pedigree in Book 1 and into Book 2, but there were nice individuals all the way to (the end of the sale). There is a horse for everybody. There are buyers getting shuffled back every day and they can\u2019t get the number of horses they need to get. They\u2019re having to spend more time here because it is so competitive with the quality coming through. I think the strength of Kentucky racing right now is a big part of what\u2019s driving it all.\u201d<\/p>\n
\u201cThe performance and the quality that is represented in the later books can be illustrated in the results; the far higher clearance rates in those later sessions show that the quality is consistently very high,\u201d Lacy said. \u201cWe understand that the success of the September Sale is a big factor in how their year goes for these breeders. They are farmers bringing their crops to market. That responsibility is critical to Keeneland. Breeders at all levels, but especially those breeders in the middle market, are at the core of why we exist.\u201d<\/p>\n
Taylor Made Sales Agency, agent, was the leading consignor at the September Sale for the 25th<\/sup>\u00a0year since 1988, selling 333 yearlings for $53,133,200 (including private sales). The gross is the highest for a September Sale consignor since Taylor Made grossed $57 million in 2007. Taylor Made\u2019s consignment was headlined by a filly by Gun Runner purchased by Douglas Scharbauer for $1.05 million.<\/p>\n \u201cIt\u2019s been crazy good,\u201d Frank Taylor, Taylor Made\u2019s Director of New Business Development, said about the September Sale. \u201cThis sale was really, really good. It was way better than I anticipated. It\u2019s amazing how strong the market is, with everything that\u2019s going on in the world. Racing is good, and there is a lot of enthusiasm. People want to buy racehorses.\u201d<\/p>\n Other leading consignors included Gainesway, Paramount Sales, Hill \u2018n\u2019 Dale at Xalapa and Lane\u2019s End Farm.<\/p>\n The leading sire by gross sales was Gun Runner, whose 62 yearlings sold for $32,665,000 (includes private sales). They included seven horses sold for $1 million or more, led by the aforementioned colt acquired for $2.2 million by Whisper Hill Farm.<\/p>\n Charlatan, winner of the RUNHAPPY Malibu (G1) and Arkansas Derby (G1), was the leading first-crop sire. He was represented by 79 yearlings who sold for $20,120,000 (includes private sales to date). Hill \u2018n\u2019 Dale at Xalapa consigned the two most expensive, both colts, who sold to M.V. Magnier and White Birch Farm for $1.4 million and Pin Oak Stud for $1 million.<\/p>\n During Saturday\u2019s final session, 203 yearlings sold for $2,662,000, up 10.11% from last year\u2019s gross of 2,417,600 for 175 horses. Average price of $13,113 dipped slightly from $13,815 in 2023, while the median increased 11.11% from $9,000 to $10,000.<\/p>\n Zap\/Murphy for CA Racing Partners & Ciaglia paid $85,000 for a colt by Rock Your World to top the closing day session. Consigned by Stoneriggs Farm, agent, the colt is out of the winning Alternation mare Plenty Quick.<\/p>\n *************************<\/p>\n Racing resumes at Keeneland for the 17-day Fall Meet from Oct. 4-26. The season, which will award a record $9.85 million in stakes purses, opens with the prestigious Fall Stars Weekend that features 11 stakes worth $5.8 million. Eight Fall Meet stakes are Breeders\u2019 Cup Challenge \u201cWin and You\u2019re In\u201d races, which award each winner an automatic and free entry into the World Championships at Del Mar on Nov. 1-2.<\/p>\n The inaugural Keeneland Championship Sale will be conducted the evening of Wednesday, Oct. 30 in the Paddock at Del Mar.<\/p>\n Keeneland\u2019s 81st<\/sup>\u00a0November Breeding Stock Sale will begin Tuesday, Nov. 5 and run through Wednesday, Nov. 13, followed by the November Horses of Racing Age Sale on Thursday, Nov. 14.<\/p>\n The 12th<\/sup>\u00a0Sporting Art Auction will be held here Friday, Nov. 15.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" LEXINGTON, KY (Sept. 21, 2024) – Keeneland’s September Yearling Sale concluded its record-breaking run on Saturday with total sales through the ring of $411,749,500 to be the highest-grossing Thoroughbred auction in the world. The average of $150,548 is a September Sale record, while the median of $70,000 equals the record for a September Sale. Fueling the dynamic results was competitive trade among the world’s most prominent buyers, driving the sale of 36 seven-figure horses (including one sold privately) for the most […]<\/p>\n","protected":false},"author":2,"featured_media":7143,"comment_status":"closed","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[97,52,2044],"tags":[2474,2268,2473,2475,2476],"class_list":["post-7142","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-events-magazine","category-events-magazine","category-magazine","tag-keeneland-president-and-ceo-shannon-arvin","tag-keeneland-vice-president-of-sales-tony-lacy","tag-keenelands-september-yearling-sale","tag-mandy-popes-whisper-hill-farm","tag-sarah-sutherland-of-indian-creek"],"yoast_head":"\n