American buyers dominate on first day of Keeneland Breeding Stock Sale

Cover image courtesy of Keeneland

The Keeneland November Breeding Stock Sale blitzed through its opening session Tuesday with 17 offerings–including a pair of weanlings – selling for US$1 million (AU$1.53 million) or more and figures up dramatically from the auction's Book 1 session in 2024.

“It was a really strong day,” said Keeneland President Shannon Arvin.

“The broodmare market was very, very strong. We had 15 who brought $1 million or more, seven of those brought $2 million or more. The weanling market was incredibly strong. We sold a $2.2 million weanling - it's the highest price since a decade ago. I think it showed an overall confidence and continuation of excitement about our sport and about our industry.”

Average and median rise by 36% and 20%

In all, 122 horses sold during Tuesday's single Book 1 session for a gross of US$72,737,000 (AU$110 million). The average of US$596,205 (AU$916,000) was up 36.70% from a year ago, while the median rose 20.71% to US$422,500 (AU$650,000). A year ago, 143 sold for US$62,370,000 (AU$96 million) for an average of US$436,154 (AU$671,000) and a median of US$350,000 (AU$539,000).

“The amount of enthusiasm we saw from the buyers, both domestic and international, was very, very broad.” said Keeneland Vice President of Sales Tony Lacy. “I think a lot of people were a little frustrated trying to buy horses. Over 50% of the horses that sold today sold for 50% or more above their reserve. So it shows the market was strong. People set their reserves, but the market brought them well beyond that. That's really encouraging. It's a great balance in the market.”

Grade 1 winner Lush Lips tops the sale

Bill Shively's Dixiana Farm made the highest purchase of the day, going to US$3.7 million (AU$5.7 million) to acquire the 3-year-old racing/broodmare prospect Lush Lips (GB) (Ten Sovereigns {Ire}) from the Taylor Made Sales Agency consignment. The Grade I-winning filly was one of three on the day to sell for US$3 million (AU$4.6 million) or over and one of eight to sell for US$2 million (AU$3 million) or more.

The Book 1 section also featured a very competitive weanling market. For the session, 54 weanlings sold for an average of US$364,019 (AU$560,000) and a median of US$275,000 (AU$423,000). During last year's Book 1 section, 46 weanlings sold for an average of US$281,087 (AU$433,000) and a median of US$250,000 (AU$385,000).

$2.2 million weanling tops session

The strength of the weanling market was a carry-on effect from the record-setting yearling sales of the summer and fall, according to Lacy.

“A lot of people who sold yearlings, whether pinhookers or breeders, they are looking to restock for next year's sales,” Lacy said. “So, they have a level of return that was probably a little unexpected. Now they have an issue that they've got to spend it. It has a multiplier effect that you've got to invest, or that becomes a tax liability. So there is a lot of reinvestment in the industry.”

Bloodstock agent Donato Lanni, bidding on behalf of Amr Zedan, went to US$2.2 million(AU$3.4 million) to acquire a colt by Gun Runner. It was the fourth highest priced weanling to ever sell at the November sale and the highest-priced weanling to sell in North America in a decade. That kind of result highlighted the juxtaposition between supply and demand in the market.

The $2.2-million weanling was consigned by Denali Stud, which sold three of the day's seven-figure offerings.

“The trade is very strong,” said Denali's Conrad Bandoroff. “The weanling market is scalding hot. The demand is voracious, and I think that has carried over from the yearling market.

“A lot of weanling buyers are being very aggressive trying to buy horses. You are also seeing some coming into the weanling market that maybe didn't get enough yearlings bought and they are going to buy some weanlings to race.”

Vahva sells for $3.1 million

Vahva….Vah….Voom. About 24 hours after going to $2.5 million to acquire Grade 1 winner Seismic Beauty (Uncle Mo) during Monday's Fasig-Tipton November Sale, Killora Stud's Hannah Jennings and bloodstock agent Brittany Linton, bidding on behalf of Jenny and Randy Boyd's Boyd Racing, went to US$3.1 million (AU$4.8 million) to purchase Grade I winner Vahva (Gun Runner) (hip 187) during Book 1 at Keeneland November.

The 5-year-old, who ran home strongly to finish runner-up in the GI Breeders' Cup Filly and Mare Sprint at Del Mar last weekend, was consigned by Lane's End, agent.

“She was everything we could have wanted in a broodmare prospect,” said Jennings. “Jenny and Randy Boyd are getting into the game and they want to have a broodmare band at the top level, and she fit the bill.”

Jennings indicated that Vahva would head to Killora Stud in nearby Paris, Kentucky, and that a decision on whether the mare stays in training in 2026 would be forthcoming. “We will leave the option open,” Jennings said. “She vets well, and she's sound, so we will leave that option open. But she's done enough. She's won her Grade I. We are just really excited to have her.”

Should she be retired, Jennings said there would be a variety of stallions that could suit the mare, but was focused on a certain white-hot sire.

“We will bring a few up to him. Not This Time comes up first thing to me,” she said. “I think physically she would suit him really well being so strong. We will see what he says.”

Jennings paid tribute to the way DeVaux developed Vahva over the last three seasons. “Incredible. To campaign a horse for that long at the top of the game from ages two to five,” she said, “She ran some really fast numbers her whole career. She did a great job with the filly. And I know she's really special to her being one of her first really big horses. Hopefully she will come visit.”

Kilwin makes $3 million

Despite the activity in the pavilion starting to abate late in Tuesday's session, Rick Howard was prepared to go the distance to secure Grade I-winning Kilwin (Twirling Candy), who brought US$3 million (AU$4.6 million) as hip 223.

Consigned by Taylor Made Sales, the 3-year-old filly entered the arena armed with the right credentials, including a top-shelf victory in last summer's GI Test Stakes in Saratoga. The filly was campaigned BBN Racing and trained by Rusty Arnold.

“The Test was really an impressive performance,” said Howard, who recently sold his Manitou Farm in Lexington. According to Howard, Kilwin will remain with Arnold and becampaigned in partnership with BBN Racing in 2026.

“I'm excited to go in together and keep her,” he said. Explaining the decision to put the filly through the ring, Braxton Lynch, BBN Founding Partner and Racing Manager, explained, “The market was so hot in September that we thought this was the right time to sell, and it all worked out.”

She continued, “Keeneland has always been so good to us. Our horses train right here (from the Rice Road training center), so it was a natural fit.”