Expectations high as Keeneland November Sale gets underway

Cover image courtesy of Keeneland

When looking at the statistics of American bloodlines in Australia, it is little wonder why so many breeders from the Southern Hemisphere dust off the passports and make their way to Kentucky for the marathon 10 sessions which see not only broodmares on offer but also weanlings, racehorses, stallions/stallion prospects and shares in horses.

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Price Bell Jnr on Mill Ridge's 2022 Keeneland November Sale draft

Tony Lacy, who was appointed the auction house's vice president of sales in April 2021, told TDN AusNZ they were encouraged by the amount of interest they had received from industry participants from the Southern Hemisphere.

“I know there are quite a few Australians expected to be here for the sale and there are a number of faces around the grounds. I know Barry Bowditch has been in touch with quite a few people and we are very encouraged with the interest levels this year,” he said.

Lacy said that over the years the international interest in the Keeneland Sale has added an additional dynamic, which is not only good for the sale itself but also the industry worldwide.

“The international aspect of the sale is very important for us at Keeneland. For a while the US may have been perceived as a bit insular in its views and people may have had their preconceived ideas about the sport over here, but that has all changed a lot,” said Lacy.

“The US market is now very aware of what the international markets are doing and they are a very educated group here. In conjunction with that, the international markets are now very aware of what is going on in the US.

“The industry is becoming very globalised and it is one big marketplace now. Keeneland is a focus for many different jurisdictions and countries to come together and trade and that creates a very dynamic atmosphere.”

'The perfect storm'

There was additional enthusiasm surrounding the 2022 edition of the time-honoured sale given the world-famous two-day Breeders’ Cup meeting took place in Keeneland on Friday and Saturday, acting as the perfect aperitif before the action unfolds in the world-famous Keeneland sales ring.

“The great thing about having the Breeders’ Cup back in Kentucky again is that people were able to inspect horses in the morning and then go racing in the afternoon. It is the best of both worlds.

“The one thing we stand for at Keeneland is that we are an institution, it’s a non-profit organisation and any surplus goes back to the industry. So the unique activity of having a sale and a world-class race-meet over the weekend is pretty unique and we are very excited about it. We are very proud of the catalogue we have put together and we are getting some very strong supplements coming through.

“We have really leaned into the fact that racing and sales work very closely together and this personifies it perfectly.”

Magic Millions Managing Director Barry Bowditch, who also serves as Keeneland’s Australian representative, told TDN AusNZ that the fact the Breeders’ Cup was held at Keeneland for the first time since COVID-stricken 2020 created the ‘perfect storm’ for visiting buyers and agents.

“There is a huge appetite for our industry to participate worldwide and I think that’s been seen in recent months,” he said. “I also think the perfect storm is when you have the Breeders’ Cup at Keeneland and obviously the breeding stock sale at Keeneland all at once and that creates a lot of interest this year. It creates a social atmosphere where people can come to Kentucky and have a lot of fun, but still participate in the auction which is really important for Keeneland.

“I’m delighted with the interest in the sale and it is great people can enjoy what Kentucky provides to the passionate horse fan before we even talk about what they are doing from a business standpoint. To go to the farms, to go to trackwork in Breeders’ Cup week and the facilities at Keeneland itself, is first class and it is a real eye-opener for many clients.”

The lucrative well

However, it would be naive to think that Australasians are making the trip halfway around the globe just to watch top-class racing while also attending a sale at the same time. No, they are returning to the lucrative well, that time and time again it has paid to invest in.

Since August 1, 2021, American-bred mares have produced 27 Australian stakes winners and these include seven Group 1 winners. Meanwhile, last season alone, daughters of US-bred stallions produced a total of 126 stakes winners between them and they were spearheaded by 13 Group 1s.

Recent success stories to emerge from the sale include dual Grade 2 winner Gypsy Robin (USA) (Daaher {USA}), who was bought by Alex Kingston for US$750,000 (AU$1,164,000) at the 2013 edition of the Keeneland Sale.

She has proved a shrewd investment having produced three winners, headed by G1 AJ Moir S. winner Wild Ruler, who is now standing at Newgate Farm. The mare was agonisingly denied her second elite winner when Pavitra (American Pharoah {USA}) was narrowly beaten into second in the G1 VRC Oaks last Thursday.

There have been a host of recent top-class performers out of American-bred mares, including Bella Vella (Commands), who is out of Forget The Weather (USA) (Stormy Atlantic {USA}), a US$50,000 (AU$77,600) Keeneland November purchase in 2011 and three-time Group 1 winner Forbidden Love (All Too Hard), a daughter of winning More Than Ready (USA) mare Juliet’s Princess (USA).

Huge appeal

Last season alone, daughters of More Than Ready produced winners of 16 stakes winners, there are three mares by the late son of Southern Halo (USA) and Bowditch said there will be plenty of lots who offer a huge amount of appeal to Southern Hemisphere participants.

“The American horses really resonate with the Australians. They breed fast horses and they run them at two and those are things they look for,” said Bowditch.

“The industry in Australia at the moment is in a phenomenally strong position. The prizemoney, the depth and the engagement in our sport is quite extraordinary and that has been evident for a long time, it doesn’t look like slowing down and the reinvestment is important. The breeders in Australia are getting great results in the yearling market and they continue to reinvest in better stock, a sale that is as deep and diverse as Keeneland is a sale they really pay attention to for those very reasons.

“I believe the catalogue, whether it be Book 1, 2, or 3 and beyond, has great depth and variety that will really do well back in Australia if they are purchased to go that way.”

Lacy sees the sale as the perfect opportunity for buyers across the world to get their hands on something unique.

“It is a cross-pollination of the bloodlines which is healthy for everybody. You see a lot of American buyers going to Europe and Australia and even Japan in some cases to invest in new bloodlines, so you can get an outcross of what they’ve already got,” said Lacy.

“A lot of Europeans have been reliant on similar bloodlines for many years and they are looking for outcrosses. It is the same in Australia for a number of years.

“The More Than Ready, for example, line has worked well in Australia in the past as well as many others from North America. It is the same here, we have reached out and tried to find new bloodlines as well. It is only going to increase over time. This is really exciting because the more inter-reliant we become on each other the more aware of each other's racing and breeding and I think it only helps each marketplace even more.

“I am excited about what the prospects can be about what Australian buyers bring to the US marketplace in the next couple of weeks and we are certainly very aware what their needs are and we will try and fulfil them as best we can.”