Royal Slipper tops Keeneland’s third day

Cover image courtesy of Keeneland

The Keeneland November Breeding Stock Sale concluded its Book 2 section with a day of brisk trade Thursday. Fewer horses (411) sold during Book 2 in 2026 compared to 474 in 2025, but with the average dipping 1.5% to US$189,825 (AU$274,000) and the median dropping 6.25% to US$150,000 (AU$217,000), the gross was well down from US$91 million (AU$131.7 million) in 2025 to US$78 million (AU$112.5 million) in 2026.

“I think it was interesting talking to the buyers,” said Keeneland Vice President of Sales Tony Lacy. “They found very strong competition. On the flip side, the sellers said when you had something that hit the mark, it was great. And if you didn't, it was tougher. So I think that's been indicative of a little bit of what we saw [Wednesday], but it just felt like a more energized day [on Thursday], whether it was the weather or whatever, but it certainly had a little more consistency to it and it just had a better energy.”

Nine horses sold for US$500,000 (AU$722,000) or over during Thursday's session, compared to seven at the corresponding session a year ago. Leading the way was the 5-year-old broodmare Royal Slipper (Uncle Mo), who sold for US$900,000 (AU$1.3 million) to Repole Stable. In foal to Fierceness, the mare was consigned by Denali Stud.

A correction to the boom market

“There was a little selectivity in the market,” said Keeneland Senior Director of Sales Cormac Breathnach. “I think when we compare it to last year, the mare market is very steady and very good. Last year's sale was great, but in the weanling market, some of them are hitting the mark and some of them aren't. And so between scratches and the RNA rate, I think that's reflected in the weanling market as much as anything.”

After a 2025 weanling market that sometimes felt frenetic, the 2026 results may be course-correcting slightly, but are still stronger then 2024 levels, according to Breathnach.

“I looked back to 2024 and our weanling market is better than it was then,” Breathnach said. “It's just not quite as good as it was last year at this point in sales. There was good energy and there were a lot of really good bidding wars that happened through the day. And again, that just indicates people are in some cases landing on the same horse. And so there's some really big wins and there's some people that say, 'Let's fight another day.'”

Breathnach added, “I feel like the buying side has a ton of energy and a ton of depth and base to it. But again, when there's a little bit more selection and on the same horses, it's not maybe spreading into lower reaches quite like it did last year at times. But I think we have plenty of people here that are going to be here till the end and landing on the right horses with the quality that's going to be through the next week.”

Consignor Adrian Regan of Hunter Valley Farm called the November market “fair.”

“I would say it's a fair market,” he said. “That's the way I would put it. Are we getting spoiled? Probably not. But for the last three years we were getting spoiled here and I think it's a fair market.”

Repole lands Uncle Mo's Royal Slipper for $900,000

Repole Stable was back at Keeneland on Thursday garnering Royal Slipper, a daughter of the late Uncle Mo, for US$900,000 (AU$1.3 million). With agent Alex Solis II conducting the bidding, Hip 1021 is in foal to Grade 1 winner Fierceness. She was consigned by Denali Stud, agent.

Returning to a family that has served it so well, Mike Repole also campaigned first season sire Fierceness, who stands at Ashford Stud, in addition to Coolmore's late sire, Uncle Mo. Further supporting the young sire, Repole also secured Crown Queen (Smart Strike), in foal to the 5-year-old, for US$95,000 (AU$137,000) on Wednesday.

“It isn't a coincidence that we're buying mares in full to Fierceness. Obviously, we want to support him being a home bred and going into his first year,” explained Repole's Danielle Bricker. “This mare is also by Uncle Mo and he holds such a sentimental value to the stable. He also a proven broodmare sire. So why not just add more to the collection? We would love to focus on Fierceness and just help support our stallions every way we can.”

Out of stakes palced Laffina (Arch), Royal Slipper is a full-sister to multiple Grade I winner Bast. Second dam St Lucinda (St. Jovite) is responsible for graded winner Mananan McLir (Royal Academy) and Charming n Lovable (Horse Chestnut {SAf}), dam of Grade 1 winner Fault (Blame).

“She was just really beautiful physically,” said Bricker. “Obviously, she's produced (a Grade I stakes) winner and we just think it can be a good reinvestment and good for either commercial or racing, depending on which way we go with her. The Uncle Mo side of her really shows and we're excited to add her to our broodmare band.”

Repole paid US$650,000 (AU$938,000) for Wednesday's second co-topping Shandy (Arrogate) (Hip 601). On Thursday, Repole Stable also secured Hedonism (Curlin) (Hip 877)–in foal to Girvin–for US$360,000 (AU$519,600).

Ashview's Lyster extends to $710,000 for Constitution's Madame Secretary

Proving unrelenting, Ashview Farm's Gray Lyster bid to US$710,000 (AU$1.02 million) for Madame Secretary (Constitution) (Hip 932). Consigned by Eaton Sales, the 4-year-old filly is believed in foal to first season sire Sierra Leone.

“It exceeded our expectations, but we thought she'd bring plenty of money,” said Eaton's Pam Deegan.

Out of stakes placed Nina Fever (Borrego), the dark bay mare is a half-sister to Grade 1 winner Nickname (Scat Daddy), the dam of Group 3 scorer Ides of March (Ire) (Wootton Bassett {GB}).

“My great buddy Gatewood Bell had (dam) Nina Fever a long time ago, and I've been watching the family for a long time,” said Lyster. “This is a beautiful, beautiful daughter (of Nina Fever), and we like Constitution. We also love Sierra Leone.”

He added, “She's for a client. She'll come back to Ashview Farm.”

Madame Secretary, who was bred by Newstead Corp., was a US$900,000 (AU$1.3 million) purchase at the 2023 Fasig-Tipton Saratoga Select Sale.

“She was a beautiful filly with great depth of pedigree in foal to a freshman sire, Sierra Leone,” said Deegan. “She had a full package and she was really popular.”

A yearling half-sister by Justify sold for US$700,000 (AU$1 million) at this venue in September.

“For the really, really pretty ones, you have to stretch,” added Lyster when asked about the current market. “Everybody knows that, and she's probably no different. If they're big and pretty, they cost a lot of money. It's no different if they're a foal, if they're a yearling in September, if they're on a digital sale, or if they're right here in the November sale at the beginning or the end. If they're big and pretty, they're going to bring a little bit more than the page suggests.”

Green Lantern Adds $700,000 Lithe Spirit

The Masson family's Green Lantern Stables made its fourth–and most expensive–purchase of the Keeneland November sale Thursday, going to US$700,000 (AU$1 million) to acquire the 5-year-old broodmare prospect Lithe Spirit (Speightstown) (hip 921) from the Gainesway consignment.

“We own her half-sister, Spooky Road,” Patrick Masson said of the 5-year-old's appeal. “We've had a number of foals out of her and they are very nice foals. It's a dirt page underneath her, Arabian Knight underneath. It fits with what we want to do and we're very happy we got her.”

Lithe Spirit, a US$485,000 (AU$700,000) OBS April juvenile purchase, was a three-time stakes winner and runner-up in this year's G3 Jacques Cartier Stakes and GIII Whimsical Stakes.

Green Lantern purchased the mare's half-sister Spooky Road (Quality Road), in foal to Munnings, for US$225,000 (AU$325,000) at the 2023 Keeneland November sale. Her Munnings colt sold for US$300,000 (AU$433,000) at the 2025 Fasig-Tipton Saratoga sale.

Vekoma's Calmate brings $650,000 at Keeneland on Thursday

Early in Thursday Book 2 session, Calmate (Vekoma), offered as Hip 771, realized a US$650,000 (AU$938,000) final bid from Jody Huckabay, agent. In foal to hot sire Nyquist, the chestnut was consigned by Hunter Valley Farm, acting on behalf of a pinhook partnership.

“She was a beautiful quality mare,” said Hunter Valley's Adrian Regan. “The price was more than we thought she'd bring, but we're just glad it worked out for all the partners.”

Sold by Machmer Hall for US$100,000 (AU$143,000) at Keeneland September in 2023, the 4-year-old was subsequently re-sold by Grassroots for US$120,000 (AU$173,000) at OBS Spring the following year. Offered by Elite at Keeneland November in 2025, she was picked up by Natalma for US$190,000 (AU$274,000).

Calmate is out of Study Hard (Malibu Moon), a full-sister to graded winner Sweet August Moon.

Having already received a boost to her page, Calmate is a half-sister to Litmus Test (Nyquist), winner of the GII Los Alamitos Futurity and third in the GI Claiborne Breeders' Futurity. Litmus Test brought US$875,000 (AU$1.26 million) at the Fasig-Tipton Saratoga Sale in 2024.

“We bought her here last year with the intention of bringing her back,” explained Regan. “She is a half to Litmus Test. And of course, straight after the sale, we looked like geniuses. When Litmus test went on and won [a stakes race] after the (purchase), it all looked fantastic. And we decided to take a punt and go with Nyquist, who obviously is one of the best stallions in America, if not the world at the moment.”

Hunter Valley also sold Long Neck Paula (Uncle Mo) (Hip 128), in foal to Practical Joke, to Claiborne Farm for US$700,000 (AU$1 million) in Book 1.

“Up at the top end, if you tick all the proverbial boxes, it's limitless. Underneath, it's not as good as it was last year, but we're coming off record years,” explained Regan. “It just can't keep going up and up and up. I still think the market is pretty good…I just think maybe it's coming back a little bit, but again, we're coming off a number of record years. So I think there may be a little bit of a stabilizing. If you go in there and try and buy a foal or a mare that you like, there's always plenty of competition.”