Keeneland Picks Up the Baton

After a rock-and-rolling night across town, the 71st annual Keeneland November Sale picks up the breeding-stock baton this morning in Lexington with the first of 11 uninterrupted sessions. Tuesday and Wednesday’s Book 1 sessions begin at 11 a.m. Sessions for the remainder of the sale begin at 10 a.m. 

A total of 4,027 horses have been cataloged at Keeneland November. There are 2,083 broodmares and broodmare prospects, 1,589 weanlings, 350 horses of racing age and five stallions. 

“The action’s been good,” Keeneland Director of Sales Geoffrey Russell said yesterday on a sunny, seasonal fall day in Kentucky. “It was a little busy on Saturday, then very busy Sunday and again today. The weather’s been perfect to look at horses, and we’re off and running, I hope.” 

Stability has been the keyword for prognosticators as the industry shifts focus from yearlings to breeding stock this week, and if things remain static from last year’s outstanding renewal of November, many participants would be content. 
In 2013, a total of 2,457 horses sold for $197,189,000–a huge 37.7% gain from the previous year’s figures. The resulting average of $80,256 was up a similar 35.5%, while the median skyrocketed 59.1% to $35,000. The strength of trade and the market’s depth was signified by the RNA rate: a very low 14.5%. 

“I think the market wants stability,” said Russell. “When you look at the breeding-stock market, you’re looking at long-term investments. What suffered greatly after 2008 was the ability, or interest, for people to invest long term. Last year was the first time since 2008 that we saw people with the mindset of going to replenish their broodmare ranks. We also had some new people come in to fill up their farms, which was fine and dandy, too.” 

Russell said the upswing in the bloodstock market was a natural reaction to a resurgent demand for yearlings. 
“Having two September sales that were so strong in ’12 and ’13, it brought great stability to the market, and it encouraged more commercial breeders to get back in and think long term,” he said. “This year [at September], the market was very stable, though people continue to be worried about expenses. If we have a stable market, hopefully expenses won’t go up and people can continue to make money and keep the market going. That’s what we all want.” 
Results from the weekend’s Breeders’ Cup World Championships provided a number of choice lots a further boost. The dual Grade I winner Iotapa (Afleet Alex) built on her impressive 2014 resume with a strong third in the GI Breeders’ Cup Distaff. She sells today from Lane’s End as Hip 106. 

Tomorrow, Hill ‘n’ Dale Sales sends through Don’t Surprise Me (Macho Uno), a winning half-sister to GI Breeders’ Cup Classic hero Bayern (Offlee Wild). Cataloged as Hip 287, she sells in foal to Awesome Again. She’s followed into the ring by her American Lion (Tiznow) weanling filly, who is also consigned by Hill ‘n’ Dale (Hip 288). 

There are also two weanling fillies who sell Wednesday who can claim a Breeders’ Cup-winning sibling. First up is a Harlan’s Holiday three-parts sister to GI Breeders’ Cup Dirt Mile repeater Goldencents (Into Mischief) who sells from Ashview Farm as Hip 302. 

Hip 355, meanwhile, is a Blame half-sister to the GI Juvenile Turf winner Hootenanny (Quality Road) from Eaton Sales. 
Keeneland officials are trying some new to close out tomorrow’s session. Together with Ashford Stud, represented here by the rare consignment, they will put before buyers a concentrated group of mares bred on Southern Hemisphere time. Thirteen mares–there are five outs–will sell, all in foal to Ashford’s Scat Daddy. 

“Scat Daddy was meant to go down to Chile this year and he was unable to, and he’s the ‘Daddy’ of Chile at the moment,” explained Russell. “So Ashford bred some mares on Southern Hemisphere time and thought it might be a good idea to offer them at public auction, so we created a section for our South American clientele. We thought it was a niche in the market worth exploring. Tommy [Thornbury, Keeneland’s Associate Director of Sales] is down in South America often, and said even before Scat Daddy had runners their that he was going to be a dominant horse there.” 
The second Tuesday of the sale will once again feature a session highlighted by horses-of-racing age, including a typically popular consignment from WinStar Racing. 

“WinStar was the one who came up with the idea of having a session of racing-age horses, and now we have other clients who specifically aim for it,” said Russell. “Those horses who are ready to rock on and continue their racing careers always seem to do very well, and sellers get a premium for them. Last year, on that day, Hardest Core came out of the Adena Springs consignment, and he certainly did well this year [winning the GI Arlington Million]. It shows the quality available on that day.” 

For catalog, results and up-to-date outs, or to watch the sale live, visit www.keeneland.com.