Momentum Carries Into Book Two

The Keeneland November Breeding Stock Sale continued Thursday with the first of two Book 2 sessions and a competitive day of selling that largely mirrored last year’s corresponding results. A pair of weanlings stole the spotlight, with Brian Graves, bidding on behalf of Clear Ridge Stables, going to a session-topping $850,000 for a colt by War Front. The youngster was consigned by John Mayer’s Nursery Place. Earlier in the day, agents Alex Solis and Jason Litt went to $750,000 to secure a filly by Malibu Moon from the VanMeter Sales consignment. 

“Obviously the top end of the foal market is very strong,” reported Keeneland’s Director of Sales Geoffrey Russell. “It was great to see those two horses break loose. Last year, our highest price was $410,000 in this session and to have two horses tie that and then two more above that just showed how the sale has continued on from the strength of Book 1.” 

A pair of mares attracted matching $450,000 final bids for industry stalwarts. Barbara Banke’s Stonestreet Thoroughbreds purchased I’m Mom’s Favorite (Indian Charlie), while Mandy Pope’s Whisper Hill Farm acquired Hummingbird Hill (Tapit). 

During yesterday’s session, 271 horses sold for $29,701,000. The session average dipped just 0.78% to $109,598, while the median was off 5.6% at $85,000. The buy-back rate was 19.8%.  Through three sessions, Keeneland has sold 544 horses for $125,553,000–up 9.5% from a year ago when 497 had sold. The average of $230,796 remained steady with last year’s figure of $230,786. The median is down 10.7% to $125,000. 

Referring to the decrease in median, Russell said, “The upper-middle is strong. The middle-middle market is fair.” 

Russell continued, “Buyers have commented that they are going over their comfort levels, but they knew that’s what they had to do to get them. As someone told me, if that’s what the market is, that’s what you have to pay. Overall, it was a very good day. Looking at how things were going, they were blowing by their reserves. It had a great buoyancy all day–let’s hope that continues.” 

The Keeneland November sale continues through Nov. 14 with sessions beginning daily at 10 a.m.