Cover image courtesy of Keeneland
At A Glance
Across the shortened two-day sale, 699 horses sold for US$53.56 million (AU$80 million) compared to 724 horses who sold in 2025 for US$35.2 million (AU$52.6 million).
The average in 2026 was US$76,625 (AU$114,000), compared to US$48,655 (AU$73,000) in 2025. In 2026, the median was US$30,000 (AU$44,800), up from 2025’s median of US$22,000 (AU$32,900).
Mandy Pope's Whisper Hill Farm bought Tiffany Case (Uncle Mo) in foal to Not This Time for US$3.2 million (AU$4.77 million) on day 1 to top the sale. The top price in 2025 was US$700,000 (AU$1 million).
Day 2’s sale topper was a Nyquist short yearling colt who sold for US$525,000 (AU$784,000), while the top-priced mare on day 2 made US$500,000 (AU$747,000) in foal to Not This Time.
The 2026 Keeneland January Horses of All Ages Sale concluded its compressed two-day run on Tuesday.
“Another really good day,” said Keeneland Vice President of Sales Tony Lacy. “Overall, it was a great, solid day of trading. Everyone felt like it was a very honest and strong market overall.”
"Everyone felt like it was a very honest and strong market overall." - Tony Lacy
That market strength and diversity was on display with as the top 25 horses came from 18 different consignors and sold to 24 individual buyers. The top 13 yearlings were also each by different stallions.
The average and median were up across the shortened format, and the gross also went up from US$35.2 million (AU$52.6 million) to US$53.6 million (AU$80 million) in 2026.
Lots of positivity at Keeneland
After a three-day sale in 2025, Keeneland opted to make the 2026 January Sale into two longer, more action-packed sessions versus stretching the sale into three days. Lacy acknowledged that the decision was a difficult one to make but said, at the end of the day, buyers and sellers were happy.
“It maintained the energy,” Lacy said. “The back ring was packed for a lot of the day. That's all you can ask for in a good marketplace is when you've got energy from the beginning to the end of the day. We never felt like we hit a lull. Even the auctioneer said the sale had a great bounce to it. It really comes down to the entry count. You have a choice between two full, longer days or three shorter days.
"We never felt like we hit a lull. Even the auctioneer said the sale had a great bounce to it." - Tony Lacy
“And we felt like the fuller days, where you put horses up against each other and you have a real energy, are going to be better rather than split it into three days. It was a big ask from everybody because we've never catalogued that many before and we didn't get the scratch rate we expected either. So normally you have 30% scratches and it was more like 20% out of this sale which, again, is a sign of a strong market and something we're happy with.”
Tony Lacy | Image courtesy of Keeneland
Keeneland Senior Director of Sales Operations Cormac Breathnach also emphasised that the switch to longer sessions in this particular sale was not an indicator that the same method would be employed in future, larger sales.
“It's not something we're going to make a habit of,” said Breathnach. “This is not a new strategy and it's something you can't do in a bigger sale because you can't stable the horses. When you're re-using the same barns, you can't have 500 horses in a session. We have to really keep it at 400 or something close to that. So this is not going to be like we're going to have extra long sessions in big sales. It just became a two or three day decision (for this specific sale), and the decision was made to make it a two-day sale and we'll stand behind it as the right move.”
"It just became a two or three day decision (for this specific sale), and the decision was made to make it a two-day sale and we'll stand behind it as the right move." - Cormac Breathnach
Many consignors returned to Keeneland for a new try at short yearlings off a strong November Sale with money still to spend when they weren't able to purchase enough weanlings.
Cormac Breathnach | Image courtesy of Keeneland
“We were pleased to see the quality of the short yearlings,” Lacy continued. “The consignors felt like this was a good representation. People brought some really nice stuff here and the sellers got rewarded for that. The buyers were here and willing to support (the diversity) in the market. That's indicative of the quality of stock that was here.”
Nyquist yearling colt tops day 2
Gainesway's Brian Graves waited late into Tuesday's closing session to pick up a colt (hip 966) by top sire Nyquist, outlasting several other interested parties on a final bid of US$525,000 (AU$784,000). Out of the stakes-placed mare Sorrentina Lemon, the colt counts Canadian Champion 2-year-old filly and GI Darley Alcibiades winner Negligee (Northern Afleet) as an extended family member. Graves signed the ticket as part of En Fuego Stables, a group that was also active buying weanlings during the Keeneland November Sale.
Hip 966 - Nyquist x Sorrentina Lemon colt | Image courtesy of Keeneland
“I bought him for a pinhooking group and we'll bring him back as one of our stars next year at one of the select yearling sales,” Graves said. “He was just a specimen of a horse. He had everything you'd want–sire power, physical, walk, athleticism. I thought he was the best yearling here. (The market) has been hard. I bought eight foals yesterday, but it hasn't been easy. I think you just have to find your flow with the market and trust your gut.”
"He (Hip 966) had everything you'd want–sire power, physical, walk, athleticism." - Brian Graves
The son of Nyquist was the sole offering consigned in the Keeneland January Sale by Carolyn Conley's Conley Bloodstock. First dam Sorrentina Lemon is a Justice Stables homebred.
“His reserve was a bit lower than the final price but we like to see the market take it,” Conley said. “So we set a conservative reserve. Bill Justice (of Justice Real Estate) is my other half and he bred this colt. We believed in this colt from the beginning. I knew he was the nicest foal out of this mare so far. We are excited for his future.”
Brian Graves | Image courtesy of Keeneland
Sorrentina Lemon's first foal is the now 4-year-old Mendelssohn gelding Lemon Sohn and she has a 3-year-old Medaglia d'Oro filly and a 2-year-old Justify filly still in the pipeline. That Justify filly failed to reach her reserve at Keeneland September last year on a final bid of US$325,000 (AU$485,000).
“I wanted to wait for the September sale but Bill is an expert at businessman and he said Nyquist is as hot as a firecracker so we are going to January,” Conley continued. “The colt improved while he was here at Keeneland. I swear he grew and gained weight. He has a beautiful disposition. And his walk–wow.”
"I wanted to wait for the September sale but Bill is an expert at businessman and he said Nyquist is as hot as a firecracker so we are going to January." - Carolyn Conley
The result marked the highest-priced sale for Conley since she began consigning in 2021.
“I have been actively consigning going on five years,” Conley said. “It was a natural flow from working in California where I was a jockey's agent for two years. I was asked to sell or buy horses so this was a natural progression. Cassie Lee is my right hand. She has been with me since I started consigning. She runs the shedrow at the sale and shows the horses and brings them to the ring. I couldn't do it without her.”
Orinoco River is the top mare for day 2
The day's top mare belonged to St. George Stable LCC who acquired Orinoco River (War Front) (hip 863) in foal to Not This Time for US$500,000 (AU$747,000) in a post-sale transaction after she failed to meet her reserve in the ring. The made the mare Coin Broker (Ire) responsible for two of the top four prices of the day as her Uncle Mo yearling (hip 637) sold to Rock Ridge Racing for US$420,000 (AU$627,000).
Hip 863 - Orinoco River | Image courtesy of Keeneland
“Obviously her page is what, you know, caught our eye, but then you go look at her and physically,” said Rock Ridge Racing's Codee Guffey. “She just stood out to us. We'll ultimately keep her and hopefully add her to our racing stable and then bring her home, make a broodmare after racing.”
"Obviously her (Hip 863) page is what, you know, caught our eye, but then you go look at her." - Codee Guffey
A winning daughter of Uncle Mo campaigned by Hall of Famer Todd Pletcher earned plenty of attention Tuesday early in the session, hammering down on a final bid of US$425,000 (AU$635,000) to L C Racing. Black Magic Woman (hip 596), a half-sister to GI Arkansas Derby winner Magnum Moon, sold in foal to champion first-crop sire Vekoma from the consignment of Claiborne Farm.
Hip 596 - Black Magic Woman | Image courtesy of Keeneland
"She's (Hip 596) a big, strong mare, very attractive." - Mark Reid
“She's a big, strong mare, very attractive,” said Mark Reid who signed the ticket on behalf of L C Racing's Glenn Bennett. “I love Vekoma. And she's a half to an Arkansas Derby-winning millionaire. There was a lot to like about her. Todd had her as a race mare and she ran a couple of good numbers on the rags and sheets, which I pay a lot of attention to. I actually thought we'd have to pay a little bit more for her then we did. So we're very happy with the price.”
