Keeneland September wraps up with rise in cumulative
numbers
Energized by a new format which generated active trade from a broad mix of
buyers, the Keeneland September Yearling Sale concluded on Sunday with
across-the-board increases in cumulative totals.
Receipts for the 14-day auction, which ran September 12-26, totaled
$198,257,900, for an average of $64,811 and a median of $25,000. Those numbers
respectively rose
3.3 percent, 6.7 percent and 13.6 percent over 2009, when gross sales reached
$191,859,200 with an average of $60,734 and a median of $22,000. This year,
3,059 yearlings were sold compared to 3,159 a year ago. The not-sold rate was
26.7 percent, down from 27.5 percent in 2009.
A colt by A.P. Indy out of multiple Grade 1 winner Balance (Thunder Gulch)
brought a sale-topping $4.2 million on opening night, the highest price paid for
a yearling at the September Sale since 2006.
This year’s auction opened with two select evening sessions designed to
create excitement and momentum that would carry forward into the following days
of the sale. Keeneland officials also reformatted Book 2 into one comprehensive
catalog, presenting yearlings alphabetically by dam rather than ranked by
pedigree and conformation, in an effort to spread the quality consistently
throughout the first week.
“One of our goals with the format change was to get more buyers to market,
and we succeeded,” Keeneland Director of Sales Geoffrey Russell said. “We saw a
great mix of old and new faces, both domestic and foreign, and they stayed
longer into the sale. Trading was very evenly spread among a number of buyers.
That is a very healthy sign.
“The success of the September Sale is borne out by a number of positive
indicators — high volume of trade, a deep buying bench and strong average and
median prices.
“Since this is the industry’s most important sale,” Russell noted, “it has
long been the barometer of the health of the North American industry. Given the
impact of the global recession on our industry, we wanted to change the tone. We
felt the time was right to make some changes that would infuse new energy and
help reposition the marketplace as economic conditions continue to rebound both
here and abroad.”
Trainer Tim Hamm agreed that market conditions and a change in buying
strategies by some parties sparked more diverse participation.
“Buyers have more opportunity to get better pedigrees than we have had in the
past, and really get involved in the early part of the sale. Before we were kind
of shut out due to financial reasons,” he explained.
Keeneland collaborated with consignors in development of the new sale format,
and Russell acknowledged their hard work in making the sale a success.
“Our consignors deserve a good deal of credit; they’ve been supportive of the
format changes and really brought some good stock to market,” he said. “Their
ability to evaluate the market was key to the strong clearance rate.”
Buyers from nearly every state and 39 countries were represented, producing
high traffic in the barns and competitive bidding throughout the sale.
“The sale has been very positive. We’ve had a lot of volume at the barns,”
said Tom Eastham of Legacy Bloodstock. “Different buyers from different regions
with different business plans stayed around to see these horses. (The new
format) allowed us to spread interest throughout our consignments.”
Three yearlings sold for $1 million or more, highlighted by the $4.2 million
paid by Miami-based healthcare mogul Benjamin Leon Jr. for the colt by A.P. Indy
out of Balance. Benjamin, a noted Paso Fino horse breeder but relative newcomer
to the Thoroughbred industry, signed the ticket in the name of his Besilu
Stables. The colt was consigned by Mill Ridge Sales, agent, as Hip No. 14.
Bloodstock agent Mike Ryan, in the name of Flag Lake #2, went to $2.05
million to acquire Hip 116, a colt by Distorted Humor. Consigned by Lane’s End,
agent, the March 20 colt is out of the Storm Cat mare Angel’s Nest, herself a
daughter of multiple French, English and American champion Miesque. San
Francisco businessman George Bolton purchased Hip 351, a ridgling by Smart Strike
out of Grade 3 winner Ask Me No Secrets (Seattle Slew), for $1 million from
Bruce Gibbs’ Greenfield Farm, agent.
For the seventh consecutive year, Taylor Made Sales Agency ranked as the
leading September Sale consignor, selling 341 yearlings for $28,873,800.
Sheikh Hamdan bin Rashid al Maktoum’s Shadwell Estate Company Ltd. was the
sale’s leading buyer, purchasing 22 yearlings for $8.23 million.
Sunday’s final session was topped by Hip 4564, a chestnut filly from the
first crop of Flashy Bull out of the winning Dream City (Carson City). Consigned
by Dixiana, the March 7-foaled filly was purchased by Sunset Stables for $37,000
and comes from the same family as Grade 2 winner Igotrhythm (Dixieland Band) and
Grade 3 scorer Slew Gin Fizz (Relaunch). Further back, this female line is
responsible for leading sire Mr. Prospector (Raise a Native) and this year’s
Arkansas Derby (G1) hero Line of David (Lion Heart).
Keeneland sold 197 horses on the final day for $957,200, a drop of 2.9
percent from last year’s final session when 175 yearlings brought $985,500. The
average of $4,859 fell 13.7 percent from the 2009 average of $5,631, but the
$3,000 median remained steady.
For complete results, log onto
keeneland.com.
Keeneland’s next sale, the November Breeding Stock Sale, will kick off on
November 11 and run through November 20.