'Robust market' as Book 2 opens with trio of million-dollar yearlings

Cover image courtesy of Keeneland

The momentum that began with a competitive Book 1 session carried through into Book 2, with a trio of yearlings fetching seven-figure prices and continued increases over last year's results during the third session of the Keeneland September Yearling Sale in Lexington on Wednesday.

“We saw the same kind of momentum and trends just rolling over,” said Keeneland Vice President of Sales, Tony Lacy. “There was great positivity around the grounds. Consignors were invariably very pleased, and buyers found it tough in a very competitive environment. There were a lot of good horses on offer today, and I think it will be the same tomorrow. It was just an even trade, very strong and robust.”

The Book 2 opener saw 220 yearlings gross US$69,917,000 (AU$107.80 million), with the session average rising by 3.74 per cent to US$317,805 (AU$489,500). The median also saw a significant increase, up 7.84 per cent to US$275,000 (AU$423,600).

From a catalogue of 380 head, a total of 306 yearlings were offered on Wednesday, with 86 failing to meet their reserves, resulting in a buy-back rate of 28.10 per cent, slightly down from 28.4 per cent the previous year.

These three million-dollar yearlings brought the sale’s total number of seven-figure horses to 34, the second highest in the history of the Keeneland September sale, up from 28 at this stage last year.

Additionally, 47 yearlings sold for US$500,000 (AU$770,500) or more during Wednesday's session, up from 39 during the corresponding session in 2023.

“I think it was probably above our expectations,” Lacy commented on the results. “When you look at last year’s figures, it was very strong, and we’re up about 7 per cent in the median over last year. The number of horses selling for US$500,000 and above has also increased, from 39 last year to 47 this year, which is a really good trend.”

A competitive buying bench

The diverse bench of buyers who were active in Book 1 remained competitive into Book 2, with the domestic buying bench dominating the action on Wednesday.

“We had a tremendously diversified buying bench,” said Keeneland Director of Sales Operations, Cormac Breathnach. “We have 34 seven-figure horses already, the second-most in the history of the September sale. But when you look at who has bought those horses, very few have bought more than one. So, there are a lot of people here with significant money to spend, creating competition at the top end of the market. Others are getting pushed back, and they still have orders to fill.

“That’s what’s really buoying this Book 2 session and creating the momentum. The median price of US$275,000 today is a very healthy number. The RNA rate is also in line with last year's figures.”

Fung's son purchases Gun Runner filly

Aquis President Justin Fung’s son, John Fung, entered the yearling market during Book 1 of the Keeneland September Yearling Sale, purchasing Hip 307, a filly by Gun Runner (USA) out of the Constitution (USA) mare Alexandria (USA).

The filly is the first foal from Alexandria, a five-time winner, including victories in the Listed Miss Ohio S., Listed Queen City Oaks, Listed Tah Dah, and Listed Mahoning Valley John W. Galbreath S.

Hip 307, offered by Denali Stud, was initially passed in but was later purchased by John Fung Australia for US$275,000 (AU$412,400).

Another Gun Runner for Scharbauer

Texan breeder and owner Douglas Scharbauer has purchased five fillies during the first three days of the Keeneland September sale, four of which are by leading sire Gun Runner (USA) Scharbauer, who secured a Gun Runner filly (Hip 24) for US$1.5 million (AU$2.32 million) on the first day of the auction, went to US$1.05 million (AU$1.62 million) on Wednesday to acquire another daughter of the stallion (Hip 695), consigned by Taylor Made Sales Agency.

“I saw her this afternoon for the first time,” Scharbauer said of Hip 695. “My two advisors, Donny Denton, who manages Valor Farm for me, and Ken Carson, we all three looked at her, and liked her pretty much. I was hoping I could get her for a little less than a million, but I can see why she brought that. I really can.”

The yearling is the first foal out of 'TDN Rising Star' Always Carina (USA) (Malibu Moon {USA}), who was second in the 2021 G2 Mother Goose S. She was bred by Three Chimneys Farm.

Gallery: Images courtesy of Keeneland

“She was just a beautiful filly,” said Taylor Made’s Frank Taylor. “She had a good walk to her. Everybody was lined up on her. We knew she was going to sell well. She was a really nice filly. Her mind is great. She showed really well at the barn. Things lined up, and she showed well.”

Of the filly’s placement in Book 2, Taylor explained, “Three Chimneys had quite a few horses in Book 1, and they decided to hold back some nice ones, and it worked well.”

As for who will train his new acquisition, Scharbauer said, “I am not sure. Steve (Asmussen) might get her, but we will probably send some to Brad Cox. I've never sent any to him before, so we will send some to him, but I don’t know which ones.”

Scharbauer’s Gun Runner purchases also include:

-Hip 628, purchased for US$650,000 (AU$1 million) from Terrazas Thoroughbreds, acting as agent for Corser Thoroughbreds.

- Hip 153, purchased for US$500,000 (AU$770,500) from Denali Stud, acting as agent for Bridlewood Farm.

Additionally, he purchased a filly by Not This Time (USA) (Hip 678) for US$500,000 (AU$770,500) from Taylor Made.

Gallery: Other yearlings by Gun Runner (USA) purchased by Douglas Scharbauer, images courtesy of Keeneland

“I’ve bought five fillies,” Scharbauer said. “There were a couple of colts that we bid on, but they just went for too much money.”

Always Carina, a half-sister to Grade 1 winner Structor (USA) (Palace Malice {USA}), produced a full sister to Hip 695 this year and has been bred back to Gun Runner.

Tapit colt shares top honours at KEESEP Wednesday

Continuing the buying momentum from Book 1, Tom Ryan signed for Wednesday’s joint-topper, Hip 674, a colt by Tapit (USA). Ryan extended to US$1.05 million (AU$1.62 million) to secure the son of Grade 3 winner Verve's Tale (USA) (Tale Of Ekati {USA}) on behalf of the SF, Starlight and Madaket partnership.

Consigned by Hunter Valley Farm, the colt, born on March 7, was bred by Charles Fipke, who also campaigned the yearling’s dam and broodmare sire. A full sister to G1 Preakness runner-up Tale Of Verve (USA).

“He is out of a very good mare: a very deep family. Beautiful piece of (pedigree) paper,” Ryan remarked. “And Tapit keeps on proving how good he is. He is a mainstay American star.”

Ryan also praised the colt’s temperament: “We've seen him several times, and you've seen in the ring he was a gentleman,” addressing Tapit’s reputation for producing spirited offspring.

Gallery: Images courtesy of Keeneland

Earlier, Ryan signed for Hip 644, a colt by McKinzie (USA), for US$950,000 (AU$1.47 million). Consigned by Gainesway, the bay colt is out of Take Charge Angel (USA) (Will Take Charge {USA}) and is a grandson of Georgie’s Angel (USA) (Bellamy Road {USA}), the dam of G1 American Pharoah S. and G1 Runhappy Del Mar Futurity scorer Cave Rock (USA) (Arrogate {USA}).

Trained by Bob Baffert for Mike Pegram, Karl Watson, and Paul Weitman, Cave Rock, a US$550,000 (AU$823,700) KEESEP yearling purchase, also finished runner-up in the G1 Breeders’ Cup Juvenile at Keeneland.

“This colt is out of a half-sister to Cave Rock, who is really one of the best 2-year-olds we’ve seen in the last couple of years,” affirmed Ryan. “Physically, he was a very straightforward horse.”

The colt was bred by Gainesway Thoroughbreds and Brian Graves. His dam, Take Charge Angel, RNA’d for US$575,000 (AU$861,100) at Keeneland November in 2022 while carrying this foal. “We have a yellow [sales] ticket with a big number on it, so clearly we loved the horse,” Ryan added. “There is quite a criteria for these horses to jump through, and he qualifies in every measure.”

Further enhancing the colt’s page, his 3-year-old full-brother to Cave Rock, Assurbanipal (USA) (Arrogate {USA}), brought US$1.05 million (AU$1.62 million) at OBSMAR in 2023 after topping Fasig-Tipton's New York-bred sale a year earlier at US$700,000 (AU$1 million). He has won three of his four starts impressively in Japan. Another full brother, Furio (USA), brought US$400,000 (AU$599,100) at the Fasig-Tipton Saratoga Select Sale last year.

Speaking about McKinzie, Ryan explained, “McKinzie has really kicked off in a star fashion. McKinzie was a great racehorse, and it looks like his stock is more precocious than he was himself. He has shown precocity with his 2-year-olds this year. Lots to look forward to with McKinzie.”

Gainesway’s Antony Beck echoed these sentiments, saying, “McKinzie’s (offspring) are setting the track alight right now, so I think (Hip 644) will add to that.”

Among the team's other purchases on Wednesday was Hip 634, a colt by Uncle Mo (USA) out of Sundaysatthebeach (USA) (Medaglia D’Oro {USA}), bought for US$775,000 (AU$1.2 million) and consigned by Woods Edge Farm. “We are hitting plenty of targets but have to fight for them,” Ryan said.

Regan reflects on Tapit topper

Tapit had his second seven-figure yearling of the week when the SF/Starlight/Madaket partnership paid US$1.05 million (AU$1.62 million) for a colt (Hip 674) on Wednesday at Keeneland.

“With the way he’s gone over the whole week, we were hoping, but you never know if you are going to get a million or not,” said Adrian Regan of Hunter Valley Farm, which consigned the yearling on behalf of breeder Charles Fipke. “I think there are only 70 or so Tapits in this yearling crop. There are not that many of them anymore, and he’s still a very popular stallion.”

The yearling is out of Verve's Tale (USA) (Tale Of Ekati {USA}), winner of the 2016 G3 Comely S. in Fipke’s colours. Fipke purchased Verve’s Tale’s dam, Verve (USA) (Unbridled {USA}), for US$160,000 (AU$239,600) at the 2005 Keeneland November sale.

“He was a lovely horse,” Regan said. “It’s brilliant to do it for Mr. Fipke. We’ve sold for him for years. He has always been there for us.”

During the first session of the auction, Shadwell Farm purchased a filly by Tapit (Hip 81) for US$1.2 million (AU$1.85 million).

Charlatan colt brings seven figures in Book 2 opener

While the tempo slowed slightly compared to earlier sessions, Book 2 opened with plenty of activity, led by yearlings by in-demand freshman sire Charlatan (USA).

The first seven-figure sale of the day came when Hip 509 brought US$1 million (AU$1.55 million) from Jim and Dana Bernhard’s Pin Oak Stud, bidding via the internet.

Consigned by Hill ‘n’ Dale at Xalapa, the chestnut colt is out of Midnight Lucky (USA) (Midnight Lute {USA}), winner of the G1 Acorn S. and G1 Humana Distaff S. The colt was bred by Mike Pegram, Karl Watson, Paul Weitman, and Hill ‘n’ Dale.

The colt’s dam, who earned US$565,022 (AU$846,200) on the track under Bob Baffert’s care, was purchased by Pegram for US$220,000 (AU$329,500) at Fasig-Tipton Saratoga in 2011.

This represents Midnight Lucky’s second seven-figure yearling, following a colt by Curlin (USA), who brought US$1.2 million (AU$1.8 million) at Keeneland September in 2020. A timely update to the page came when the colt’s half-brother Into Midnight (USA) (Into Mischief {USA}) finished second at Del Mar on Sept. 7.

“Bob is high on Into Midnight. Charlatan is flying at the moment. He looked the part, and the stars aligned,” said Hill ‘n’ Dale’s Jared Burdine. “He was our most popular horse for Book 2.”

Hill ‘n’ Dale’s General Manager added, “You never know until you get up here. Things have to line up. A couple of people lock horns, and it’s a little bit of magic. It exceeded our expectations. He was a nice colt, so seven figures in Book 2 is impressive.”

Speaking about the success of Charlatan, John Sikura noted, “I want to thank Mike Pegram, Karl Watson, and Paul Weitman for their support. They committed a Grade I winner to a freshman sire. It all goes back to the beginning when we committed top mares to the horse. Charlatan was a superstar and provided the ammunition.”

Later that day, Pin Oak paid US$625,000 (AU$965,600) for Hip 538, a colt by Not This Time out of New York Groove (USA) (Verrazano {USA}). The dark bay was consigned by Denali Stud, acting as agent.

Mike Ryan parts With US$800,000 (AU$1,245,328) for Uncle Mo colt

In Wednesday's opening session of Book 2, agent Mike Ryan signed the ticket for Hip 468, a colt by Uncle Mo (USA). Consigned by Lane’s End, acting on behalf of breeder Jane Lyon's Summer Wind Equine, the bay colt is out of Irish Listed winner Key To My Heart (Ire) (Galileo {Ire}), a daughter of G1 Frizette S. scorer and 'TDN Rising Star' A Z Warrior (USA) (Bernardini {USA}).

This is the family of stakes winner Jojo Warrior (USA) (PioneerOfTheNile {USA}). “The first time I saw him was at Summer Wind Farm about three weeks ago, and he immediately reminded me of Nyquist,” said Ryan, referring to the G1 Kentucky Derby-winning son of Uncle Mo. “He has an aura about him that only a handful of horses have. He's got size, depth, quality, and an unbelievable pedigree.”

Key to My Heart, a 525,000gns (AU$1 million) purchase at Tattersalls in February 2018, was later purchased by Lyon for US$1.75 million (AU$2.72 million) at Keeneland that November while in foal to War Front (USA).

Despite the female family leaning toward early precocity and speed, Ryan anticipates the colt will show versatility as well.

Gallery: Images courtesy of Keeneland

“He looks like a horse that will get a mile-and-an-eighth or a mile-and-a-quarter,” he said. “And he looks like he will run at two as well.”

According to Ryan, the colt, who has been purchased by a new undisclosed client, will be trained by Chad Brown.

“I thought he was very special,” Ryan added. “He would have stood out on any day. We were thrilled to get him.”