Written by Jessica Martini & Christina Bossinakis (with Trent Masenhelder)
Cover image courtesy of Keeneland
At A Glance
Colts once again dominated during the first day of Book 2. Of the five US$1-million ($1,553,519) offerings, colts weighed in at four with a single filly reaching the seven-figure mark.
Wednesday's opening session of Book 2 produced an additional five million-dollar yearlings, led by a US$1.2-million ($1,864,222) son of McKinzie who is a half-brother to GI Kentucky Derby winner Mage.
Through three sessions, 28 yearlings have sold for seven figures. Thirty yearlings reached that threshold at the entire 2022 auction.
In sharp contrast to Book 1, Book 2 began with nine separate stallions filling the top 12 spots.
During Wednesday’s session, 209 yearlings sold for US$64,024,000 (AU$99,608,000). The session average was US$306,335 (AU$476,595) and the median was US$255,000 (AU$396,52).
During last year’s Book 2 opener, 219 yearlings grossed US$66,695,000 (AU$103,761,000) for an average of US$304,543 (AU$472,239) and a median of US$250,000 (AU$389,000).
With 83 horses reported not sold, the buy-back rate was 28.42 per cent. It was 26.01 per cent a year ago.
The Keeneland September Yearling Sale’s first Book 2 session continued right on from where the auction’s elite Book 1 section concluded, producing strong results, largely in line with last year’s record-setting renewal.
“We’ve got to be very happy with the way the day turned out, obviously, being on par with last year’s figure,” said Keeneland Vice President of Sales Tony Lacy. “Early in the day it was a little slower, but it picked up and charged on very strongly right to the end. It was great to see the active trade. Buyers are finding it very competitive. It bodes well for tomorrow.”
“We’ve got to be very happy with the way the day turned out, obviously, being on par with last year’s figure.” - Tony Lacy
Wednesday’s opening session of Book 2 produced an additional five million-dollar yearlings, led by a US$1.2-million (AU$1.9 million) son of McKinzie (USA). The yearling, purchased for Lee and Susan Searing’s CRK Stables, was consigned by Runnymede Farm, which also consigned the day’s second highest-priced offering, a colt by Gun Runner (USA) who sold for US$1.15 million (AU$1.8 million) to Repole Stable and Spendthrift Partners. Through three sessions, 28 yearlings have sold for seven figures. Thirty yearlings reached that threshold at the entire 2022 auction.
Thirty-nine horses brought US$500,000 (AU$778,000) or more on Wednesday, while 29 horses reached that mark a year ago.
Tony Lacy | Image courtesy of Keeneland
“That’s a significant increase,” Keeneland Director of Sales Operations Cormac Breathnach said of that comparison. “And we are up half a million ahead of the gross this year compared to a record sale last year. RNAs are just a touch higher than we would want and we are cognizant of that, but the activity is all there. The median and average are just a couple per cent higher than they were last year, so it's an extremely good sale. The soft spot is just probably in the buy-back rate and we would like to see that come down. But it’s a competitive market and people have good horses that they are willing to protect.”
“We are up half a million ahead of the gross this year compared to a record sale last year.” - Cormac Breathnach
While the top of the market remains strong, demand underneath those elite offerings remains a major question mark as the Keeneland sale moves into its later books.
“The market has been very strong,” Spendthrift’s Ned Toffey said. “The big question is, how long does this hold up? Obviously, you’re starting to see a little bit of a tail-off (Wednesday), but it’s still strong. When we get into Books 3 and 4, down to the real meat and potatoes, those numbers are very important. They’ll say a lot about the market moving forward. But it’s been strong so far, beginning in (Fasig-Tipton) July and to a greater degree Saratoga. Fasig put together a great catalogue, and now Keeneland with Book 1, which was very strong. But it’ll be interesting to see what happens later on in this sale.”
McKinzie half to Mage brings US$1.2 million
A McKinzie colt, who is a half-brother to G1 Kentucky Derby winner Mage (USA) (Good Magic {USA}), attracted a final bid of US$1.2 million (AUS$1.9 million) from Dottie Ingordo on behalf of Lee and Susan Searing’s CRK Stable. Ingordo, sitting alongside April Mayberry, signed for the colt (Hip 669) in the name of Mayberry Farm.
“He’s a very athletic colt and we would like to have a nice colt,” Ingordo said. “And obviously, there’s a fabulous pedigree, and a young mare, so it has a lot of positives. And you always want one with a lot of presence, and he has that.”
The yearling was consigned by Runnymede Farm on behalf of his breeder, Grandview Equine. He is out of the stakes winner and Graded placegetter Puca (USA) (Big Brown {USA}), who is a half-sister to Grade 1 winner Finnegans Wake (USA) (Powerscourt {GB}).
“He’s (Hip 669) a very athletic colt and we would like to have a nice colt.” - Dottie Ingordo
Grandview Equine, a partnership led by Robert Clay which also includes Everett Dobson and the Roth family of LNJ Foxwoods, purchased Puca for US$475,000 (AU$738,000) at the 2018 Fasig-Tipton November sale. The group sold Mage for US$235,000 (AU$365,000) at the 2021 Keeneland September sale and he re-sold for US$290,000 (AU$451,000) at the 2022 Fasig-Tipton Midlantic May sale. His 2-year-old brother, Dornoch (USA), sold for US$325,000 (AU$505,000) at Keeneland last September and was most recently runner-up in the Sapling S. at Monmouth Park on August 26 after finishing second on Saratoga debut a month earlier on July 29.
“We didn’t know what to expect,” Clay admitted after watching the mare’s yearling colt sell on Wednesday. “We knew he was going to sell well, but we didn’t know how far they would go. We had a couple of really interested parties. We are thrilled with that result.”
Puca herself has an upcoming date with the Keeneland sales ring.
“We knew he (Hip 669) was going to sell well, but we didn’t know how far they would go. We had a couple of really interested parties. We are thrilled with that result.” - Robert Clay
“She is in the sale in November,” Clay said of the 11-year-old mare who is carrying a full sibling to the Derby winner. “We kept the filly, but she is in the sale. She’s never going to be worth more than she is right now, so we are going to try to take some chips off the table and see if we can do it again.”
Grandview retained Mage’s half-sister Gunning (USA) (Gun Runner {USA}), who RNA’d for US$70,000 (AU$109,000) at the 2020 Keeneland September sale and is now twice stakes-placed.
Grandview was selling its first yearling at the Keeneland sale on Wednesday, but the group had already purchased three colts, going to US$1.1 million (AU$1.7 million) for a colt by Into Mischief (USA) (Hip 18); US$1 million (AU$1.55 million) for a son of Curlin (USA) out of Songbird (USA) (Medaglia D’Oro {USA}) (Hip 325); and US$400,000 (AU$622,000) for a son of Nyquist (USA) (Hip 35)
“It’s hard to buy,” Clay said of the market. “This was the only one we sold, so it was a good sale.”
Hip 669 completed a trio of seven-figure sales for Runnymede Farm, which sold a US$2-million (AU$3.1 million) son of Uncle Mo (USA) (Hip 154) on Tuesday and a Gun Runner colt (Hip 614) for US$1.15 million (AU$1.8 million) earlier in Wednesday’s session.
“The sense of gratitude is just tremendous,” said Brutus Clay. “We feel so blessed to have the team we have, all the grooms, assistant managers. For me, we have this land that has been in the family, so I can’t take credit for that. To be a good steward of that is incredible.”
A dozen for Justify
Justify (USA) | Standing at Coolmore Stud
Coolmore’s shuttle stallion Justify (USA) had 12 yearlings find new homes on Wednesday, including Hip 620 - a filly from the winning Street Sense (USA) mare Malim (USA). Douglas Scharbauer paid US$675,000 (AU$1.1 million) for her from the Eaton Sales, Agent for WinStar Farm Bred & Raised consignment.
Justify’s Wednesday average was a healthy US$234,580 (AU$364,500).
