Cover image courtesy of Keeneland
Led by a US$3.3 million (AU$5 million) son of Gun Runner, the Keeneland September Yearling Sale powered through a record-setting opening session on Monday in Lexington. When the dust had settled after the first of two elite Book 1 sessions, 106 yearlings had sold for US$69,240,000 (AU$105 million).
The average was US$653,208 (AU$990,000) – the highest ever at a single September session – and the median was US$537,500 (AU$815,000). With just 28 horses reported not sold, the buy-back rate was 20.9%. Those figures are ahead of last year's opening session, when 98 lots grossed US$54,795,000 (AU$83.1 million) for an average of US$559,133 (AU$848,000) and a median of US$450,000 (AUAU$682,000). They are also ahead of the 2024 total Book 1 average of US$586,103 (AU$889,000) and median of US$475,000 (AU$720,000).
A packed gallery portends a prosperous sale
“It was a fantastic day,” said Keeneland President Shannon Arvin. “It's fun to talk to the auctioneers after and ask how it felt, because it looks different to them up there than it does to us watching from behind. And they said it was just so exciting, so electric, and there were so many new faces. It was really fun to see the pavilion so packed, the back ring so packed. Everywhere people were watching and enjoying and having a really great time. It was an incredible horse sale.”
“(The auctioneers) said it was just so exciting, so electric, and there were so many new faces.” - Shannon Arvin
A total of 15 yearlings sold for seven figures during Monday's session, the highest to reach that threshold during a single session since 2006.
Shannon Arvin | Image courtesy of Keeneland
Over the last several years, Keeneland has worked hard to make its boutique Book 1 sessions an event and, beyond the raw figures, the packed pavilion proved the success of concept.
“For the last three or four days, the place has been packed,” said Coolmore's MV Magnier, who signed for two of the session's million-dollar yearlings, including the day's top lot. “It's been very busy here. Keeneland does a great job. They have all the right people here and there are good horses here. The sale has only started, but it seems to be going pretty good.”
John Sikura, whose Hill 'n' Dale consigned the session topper, agreed; “There was a buzz in the ring and there were more people than I've seen here in a decade or more. You could just see that everybody was here, they were excited.”
Headley VanMeter's VanMeter Sales consigned the auction's first seven-figure yearling in the very first horse the horseman sent through the ring at a Keeneland September sale.
“It feels really strong in here right now,” VanMeter said. “Even just walking through here to talk to (buyer) John Stewart and the Resolute team, I had to bump people out of the way. Someone told me the parking lot is packed to the brim. The atmosphere is great, the energy is great. Hopefully it carries on for the rest of the sale.”
New tax code making buying at the top level sustainable
Keeneland's Vice President of Sales Tony Lacy said that while the market was competitive, he still sees it as sustainable.
Tony Lacy | Image courtesy of Keeneland
“There are not strong peaks and valleys,” Lacy said of Monday's action. “You can see the logic in the prices horses are bringing. Even if they are bringing a lot of money, it's logical. I think that's where, as we get into strong markets, we always ask, 'is this overheated?'
“This doesn't feel overheated. It feels like we are getting a strong, diverse group of buyers that are all looking to buy quality stock. And the breeders are bringing high-quality product to the market. So we are seeing a very high level of horse coming to us and the buyers are excited about what they are seeing.”
“This doesn't feel overheated. It feels like we are getting a strong, diverse group of buyers that are all looking to buy quality stock.” - Tony Lacy
Sikura echoed several people around the sales grounds to credit some of the strength of the market on the new tax code.
“Not to talk politics, because it's not about one side or the other, but the bonus depreciation, the tax advantage, it can't be overstated what kind of stimulus that is for the horse business,” Sikura said.
“Wealthy people who are taxed at source (are) looking to write off 100% of their expenses–all of your expenses, all of your insurance, and then in the breeding business, all our stud fees. It is permanent, so we can plan for the future. It's a great stimulus on a high-risk speculative venture like this. Essentially half of your losses can be covered legitimately in an active tax code. It's a great incentive.”
“(The new tax code) is a great stimulus on a high-risk speculative venture like this.” - John Sikura
The Keeneland September sale continues with a second Book 1 session beginning Tuesday at 1pm local time, with Book 2 sessions Wednesday and Thursday beginning at 11am. Following a dark day on Friday, the auction continues through September 20 with sessions beginning daily from 10am local time.
'He's by the right horse': Brant, Coolmore team for session-topping Gun Runner colt
Peter Brant, standing out back alongside MV Magnier and the team from Coolmore, signed the ticket at a session-topping US$3.3 million (AU$5 million) to acquire a colt by Gun Runner (USA) (Hip 177) late in Monday's first session of the Keeneland September sale, then sauntered off to leave Magnier to talk to the press.
“He's by Gun Runner and the lads all really liked him,” Magnier said, while adding there will be additional partners on the colt. “We bought his brother last year, the Curlin, and (trainer) Chad (Brown) actually likes him quite a bit. Hopefully, he will run soon enough.”
Magnier and Brant's White Birch Farm paid US$1.3 million ($1.97 million) for the son of Curlin (USA) at last year's September sale.
The partners have already enjoyed success with Three Chimneys' Gun Runner, who is the sire of their champion and 'TDN Rising Star' Sierra Leone (USA). Coolmore also stands the stallion's young son Gunite (USA).
“We have Gunite at home at Ashford and he covered a big book of mares and he's very popular,” Magnier said. “And Gun Runner is just flying at the moment. He's by the right horse and everybody liked him.”
Of the colt's session-topping price, Magnier admitted, “It went higher than we expected, but Peter and our partners were all pretty keen on the horse. Let's hope we didn't make a mistake.”
The US$3.3 million (AU$5 million) yearling is out of Thoughtfully (USA) (Tapit {USA}), who won the 2020 G2 Adirdonack Stakes for Heider Family Stables. He was bred by Hill n' Dale Equine Holdings and Matt Dorman's Determined Stud and was consigned by Hill 'n' Dale at Xalapa.
“He was a very smooth, very good horse, by a great sire who had a timely Grade 1 winner (G1 Del Mar Futurity winner Bran) yesterday,” said Hill 'n' Dale's John Sikura. “It's a prolific female family. And you hope for the best. All the major players assess and value these kind of horses and he made the list of important people.”
Thoughtfully is a full sister to stakes winner Signator (USA) and a half to Graded winner Annual Report (USA) (Harlan's Holiday {USA}). Her granddam is Grade 1 winner Furlough (USA) (Easy Goer {USA}), a half-sister to Dancing Spree (USA).
Of the session-topping price tag, Sikura added, “After a million dollars, you're just watching and hoping. We never know where they are going to wind up. The good thing is I knew we were strong going in. I knew that there was multiple interest from strong people. After that, you're just a spectator in the process. You hope they all get brave and stay brave. It was a great result.”
US$2 million Not This Time filly to Heider
A filly by Not This Time (USA) (Hip 144), a third generation from Hinkle Farm, provided the operation a second seven-figure yearling out of multiple-stakes placed Stave (USA) (Ghostzapper {USA}) when selling for US$2 million (AU$3 million) to Scott Heider on Monday at Keeneland.
“I really like the Hinkle family,” Heider said after doing his bidding alongside trainer Brendan Walsh and bloodstock agent David Lanigan. “They are good people and they raise very good horses. We looked at a lot of nice fillies in Book 1 and I told Brendan and Ted Durcan and David Lanigan, this is the one we want. I had no idea we would have to wrestle that hard to get it done.
“I told Brendan and Ted Durcan and David Lanigan, this (Hip 144) is the one we want. I had no idea we would have to wrestle that hard to get it done.” - Scott Heider
“But it's a testament to the Hinkle family and what they raise on that farm. We had two stakes fillies we already raced off that page. So I thought that was as good a karma as we could get.”
One of the filly’s close relations raced by the Heider family was multiple stakes winner Surf N Sand (USA) (Boston Harbor {USA}), a daughter of the yearling's third dam Affordable Price (USA) (Drouilly {Fr}), and from her the Heiders bred stakes winner Coco As In Chanel (USA) (Awesome Again {USA}), whose 3-year-old colt Pimlico (Extreme Choice) is well-fancied by trainers John O’Shea and Tom Charlton when he resumes on Wednesday.
“She's been a favourite on the farm for a while,” Anne Archer Hinkle said of the yearling. “We knew coming up here that she would be our top filly in the sale. She checked all of the boxes. She's a beautiful mover, really great physical. She comes from a great family and Not This Time couldn't be any hotter. We felt good coming into the sale, especially when we got the final set of clean X-rays. She came up here and was incredibly professional the whole time.”
Hinkle said the filly was shown over 300 times at the consignment's barn 18.
“Knowing that we had her out over 300 times, I thought there was a chance she could break out and she definitely exceeded our wildest dreams.” - Anne Archer Hinkle
“We use a software, TB Sales and we can go back to data from 2019, so for yearlings going back to 2019, we've never had a yearling viewed that many times,” she said. “And we've been fortunate to have some really great sales the past couple of years. Knowing that we had her out over 300 times, I thought there was a chance she could break out and she definitely exceeded our wildest dreams. We are thrilled she has a good home and hopefully she will continue to be a star for her new owners.”
'Icing on the cake': Warrendale's only Flightline yearling headed to Japan
A quarter of the way through Monday's first session of Book 1, the top two colts on the leaderboard were both by Lane's End's first-crop yearling sire Flightline (USA). Hip 45, a colt out of the multiple Graded stakes producer Mira Alta (USA) (Curlin {USA}), sold for US$1.7 million (AU$2.58 million) to Naohiro Sakaguchi and will be shipped to Japan, according to officials at Keeneland. The flaxen-maned chestnut was bred by Rock Ridge Thoroughbreds, LLC in Kentucky.
“That was fantastic. We were very happy,” said Warrendale's Hunter Simms, who initially wasn't sure who had signed the ticket and shook the hands of several bidders to thank them for their efforts. “There were something like seven different interests on him, all from Japan.”
Simms said the chestnut half-brother to Graded stakes winner Promise Keeper (USA) (Constitution {USA}) and stakes-winning, Graded-placed Wicked Awesome (USA) (Awesome Again {USA}) represented the only Flightline offering in Warrendale's consignment. Simms was impressed by the February foal's demeanor.
“This is the only one that we're selling at this sale. He was just so relaxed back there the whole time we were showing him. We showed him over 220 times over the last three days and he handled everything with class. He was just such a great individual to be around.”
“We showed him (Hip 45) over 220 times over the last three days and he handled everything with class.” - Hunter Simms
Rock Ridge purchased the colt's unraced dam at the 2015 Keeneland November sale for US$200,000 (AU$303,000). Their property is located on the former ClassicStar property near Versailles, said Simms, who added: “The horse was raised by Codee Guffey at Rock Ridge and his uncle Kerry (Smith). They do a great job. They raise a really good horse.
“We've had good sales for them in the past. This is just icing on the cake for everything they put into it over the last few years. They've invested into a lot of mares and stud fees and everything else. I'm glad it paid off for them.”
Flightline colt gets VanMeter Sales off to a flyer
Headley VanMeter, the youngest son of longtime consignor Tom VanMeter, started his inaugural Keeneland September sale consignment off with a bang when his VanMeter Sales sold a colt by Flightline (Hip 10) for US$1.5 million (AU$2.27 million) to John Stewart's Resolute Bloodstock on Monday at Keeneland.
Hip 10 - Flightline (USA) x Lady Shipman (USA) (colt) | Image courtesy of Keeneland
The result also marked a remarkable first for breeder Randall Lowe, who was selling his first yearling after the colt's half-brothers, future Grade 1 winner Golden Pal (USA)(Uncle Mo {USA}) and Lieutenant General (USA) (Omaha Beach {USA}), failed to make their reserves at respective yearling sales.
“This is the first yearling I've ever sold,” Lowe confirmed. “I was zero-for-four in the batter's box, including Golden Pal. To do this is a dream come true.”
The yearling is out of Lowe's lone broodmare, the speedy Lady Shipman (USA)(Midshipman {USA}).
“I wanted to see what was going on in the marketplace because the Flightlines have been so strong,” Lowe said of the decision to offer the colt at Keeneland. “I still have three other racehorses, one getting ready to start at Santa Anita, a half-sister to this horse. I thought for an individual person who doesn't take on partners, two or three horses is more than enough.”
Bidding on the colt had inched over the million-dollar mark and was standing at US$1.15 million (AU$1.74 million) when Stewart, in the reserved seating area at the back of the pavilion, jumped his bid up to US$1.5 million (AU$2.27 million).
“When John Stewart went to US$1.5 million, I started to cry,” Lowe admitted.
“When John Stewart went to US$1.5 million, I started to cry.” - Randall Lowe
“I still own the mother and she is in foal to Not This time,” Lowe continued. Lady Shipman did not achieve her US$1.6 million (AU$2.43 million) reserve with her Flightline colt in utero at the 2023 Fasig-Tipton November sale. “I still own the sister (Essential Lady). But it's nice to be recognised, especially by someone like John Stewart. He told me this was his number one colt in the auction.”
Of his first Keeneland September offering, VanMeter said, “It's incredible, storybook. We had high expectations coming in here, but we didn't think he was going to do that. The colt was an absolute pro up here for the last four or five days. We are elated to get the sale started off this way.”
“We had high expectations coming in here, but we didn't think he (Hip 10) was going to do that.” - Headley VanMeter
The yearling was born and raised on the VanMeter family's Stockplace Farm.
“Lady Shipman is on the farm and he was born and raised there and prepped there, so that makes this all the more special,” VanMeter said.
Mulberry swoop on first day of selling
Mike Gregg's Mulberry Racing, whose Australian horses are trained by Brad Widdup, purchased Hip 8 within minutes of the auction coming into play; consigned by Indian Creek on behalf of Stonestreet Bred For Brilliance, the Quality Road (USA) colt is out of G1 King’s Stand Stakes winner Lady Aurelia (USA) (Scat Daddy {USA}), already the dam of stakes winner American Rascal (USA) (Curlin {USA}). Mulberry signed the docket to the tune of US$550,000 (AU$834,000). Quality Road's 12 crops of racing age have produced 90 black-type winners at a rate of 10.5% stakes winners to runners, including champions National Treasure (USA) and Abel Tasman (USA).
Mulberry Racing have taken a three-year deal for the G1 The Everest slot vacated by Star Entertainment and are yet to lock in a runner, with their own horse, G2 Challenge Stakes winner Jedibeel (NZ) (Savabeel), in contention if his spring performances are up to scratch.
