Cover image courtesy of Keeneland
At A Glance
Spangled Banner, the dam of G1 Champagne Stakes winner U S S Valor (War Of Will) topped the day at US$1 million (AU$1.46 million).
Spangled Banner is the 25th horse to sell for $1 million or more at this year's November Breeding Stock Sale. In 2025, 18 horses brought seven figures.
On Saturday, Keeneland sold 246 horses through the ring for US$21,397,000 (AU$31 million) (down 15% on 2025), for an average of US$86,980 (AU$126,600) and a median of US$70,000 (AU$102,000).
Through the end of Book 3, with five sessions complete, 1038 horses have sold, generating gross sales of US$217,742,700 (AU$316.8 million), up 1.34% on 2025.
The average for the whole sale sits at US$209,772 (AU$305,100), up 9.8% on 2025, and a median of US$115,000 (AU$167,000) dipped 11.54% from 2025.
Spangled Banner (Tiz Wonderful) (Hip 1912), the dam of G1 Champagne Stakes winner and 'TDN Rising Star, presented by Hagyard' U S S Valor (War Of Will), was a late-night firework Saturday at Keeneland, bringing an even US$1,000,000 (AU$1.46 million) from Bertie Butler on behalf of Al Ruwais Stables at the November Sale to close out Book 3.
Trade continued on Saturday as the gross exceeded 2025's figures even as the day's single-session numbers dipped. On Saturday, Keeneland sold 246 horses through the ring for US$21,397,000 (AU$31 million) (down 15% on 2025), for an average of US$86,980 (AU$126,600) and a median of US$70,000 (AU$102,000). The gross was down 15.52% from US$25,328,500 (AU$36.8 million) in 2025, while the median was 17.65% lower than US$85,000 (AU$123,700).
Through the end of Book 3, with five sessions complete, 1038 horses have sold, generating gross sales of US$217,742,700 (AU$316.8 million), an average of US$209,772 (AU$305,100) and a median of US$115,000 (AU$167,000). That total was 1.34% above US$214,871,000 (AU$31.3 million) from the same period last year, when 1125 horses sold. The average was 9.83% above 2025's figure of US$190,996 (AU$278,000), while the median dipped 11.54% from US$130,000 (AU$189,000).
Mixture of mares and weanlings in top lots
At US$375,000 (AU$546,000), Saturday's highest-priced weanling was a colt (Hip 1945) by Tiz the Law purchased by Tioga Bloodstock. Out of the Will Take Charge mare Teasin' Tesla, the colt was consigned by Blandford Stud and is from the family of Grade 1 winners Cotton Blossom and Ceiling Crusher; Grade 2 winner Moana; and Grade 3 winner Vicarage.
The day's second-highest priced mare was Wellston (Hip 1981), whose half-sister Sister Troienne (Munnings) won Keeneland's G2 Bank of America Valley View on October 23, sold in foal to Sierra Leone to Springland Farm for US$335,000 (AU$488,000). Consigned by Taylor Made Sales Agency, as agent, the 4-year-old daughter of Speightstown is from the family of Grade 1 winners Sadler's Joy and Sabin and Grade 3 winners Wolfie's Dynaghost, Binya (Ger) and Fatah Flare. Her dam is Dyna Passer, a winning stakes-placed daughter of Lemon Drop Kid.
Hip 1945 - Tiz The Law x Teasin' Tesla colt | Image courtesy of Keeneland
A weanling filly by Golden Pal (Hip 1634) consigned by Paramount Sales, as agent, sold to Caitlin Dunne, signing on behalf of her father-in-law Wesley Ward, for US$285,000 (AU$415,000). Out of Dawn Chorus, a winning daughter of Unbridled's Song, she is from the family of champion Countess Diana and stakes winners Hillerito, Dawn Princess, Fighting Countess and Lotsa Mischief.
Shared Value (Hip 1891), a 3-year-old daughter of Gun Runner in foal to Mindframe, sold to Four Star Sales, agent, for US$280,000 (AU$407,500). Out of Grade 2 winner Salamera, by Successful Appeal, she is from the family of stakes winners and Grade 1-placed runners Outadore and Piedi Bianchi.
Two horses brought US$260,000 each (AU$378,000). Cavalier Bloodstock paid the amount for a Vekoma weanling colt (Hip 1730) consigned by Bluewater Sales. From the family of champions Housebuster and Straight No Chaser, he is out of stakes-placed Jill's A Hot Mess, a winning daughter of Laoban.
Hip 1730 - Vekoma x Jill's A Hot Mess colt | Image courtesy of Keeneland
Machmer Hall purchased the 5-year-old winning, stakes-placed American Pharoah filly Tahini (hip 1938) also for US$260,000 (AU$378,000). Out of the winning Arch mare More Fun Again, a Grade 3-placed runner, Tahini is from the family of Grade 1 winner Antiquarian; Grade 2 winner Speaktomeofsummer; and Grade 3 winners Silver Reunion and Fondly.
The day's leading buyer was Al Ruwais Stables, who bought two horses for US$1,110,000 (AU$1.6 million), including the topper. At US$110,000 (AU$160,000), Al Ruwais' other purchase was Wild Mint (Hip 1985), a 12-year-old daughter of Medaglia d'Oro in foal to Mindframe. Wild Mint, a full sister to leading sire Violence, was consigned by KatieRich Farms.
Gainesway led consignors by selling 39 horses for US$3,364,000 (AU$4.9 million).
Spangled Banner continues spending spree
Continuing a purchasing spree that began Monday at the Fasig-Tipton November Sale, Saleh Al Obitah's Al Ruwais Stable made a splash early Tuesday in Keeneland's Book 1, going to US$2.4 million (AU$3.5 million) to secure Eve of War (Declaration of War) (Hip 65), the dam of last Saturday's G1 Breeders' Cup Classic runner up The Puma (Essential Quality). Saturday's purchase of Spangled Banner was the operation's third seven-figure mare bought this week, also joining Zee Drop (Lemon Drop Kid) (Hip 717) who topped the Book 2 opener on Wednesday.
Consigned Saturday by Bluewater Sales, the 15-year-old Spangled Banner sold in foal to Tiz the Law. Barry and Kathleen Irwin, of Team Valor, purchased the mare as an 11-year-old for US$225,000 (AU$327,000) out of the Fasig-Tipton August Digital Sale in 2022.
Spangled Banner | Image courtesy of Keeneland
“We had Spangled Banner (on our old farm) for Team Valor,” said Bluewater's Meg Levy. “So we were speaking with Barry (Irwin) and Team Valor about U S S Valor, who is just unbelievable. Barry's been in the business so long, and he's been so successful with racing and everything, and we're just excited to follow along. He decided to put the mare in (the sale) and then see if (U S S Valor) was as good as everybody thought he was. It's just amazing when everything falls into place.”
Spangled Banner is the 25th horse to sell for US$1 million (AU$1.6 million) or more at this year's November Breeding Stock Sale. In 2025, 18 horses brought seven figures.
“We just let her be placed where she would fit (in Book 3),” Levy said. “Once the updates happened, there was some chatter about maybe moving her to a different book, but I'm sure glad we didn't. I think it worked out great. There were some really wonderful people and some really good outfits that were on her and bidding. We're so thrilled for Barry and Kathleen (Irwin). They've been so kind to us over the years. They are people that have spent their whole lives in this thing. It's great for them to have something like this happen.”
Spangled Banner was the only seven-figure offering to be sold in the sale's fifth session.
Meg Levy with Spangled Banner | Image courtesy of Keeneland
“A horse is only worth what somebody is willing to pay for it on any given day,” Levy said. “I think throughout the sales, from Fasig-Tipton through to Keeneland, there's only so many really good (mares), or perceived good (mares). And that ends up driving the prices up. I think she brought what she was worth. She's carrying a colt, so if she gets a good Tiz the Law colt, and U S S Valor goes on, it's all blue sky.”
Through five sessions, Bluewater Sales has consigned 12 horses, with Levy noting that not a single offering they've led up has gone out with its reserve not attained.
“I (think) the market's just been fantastic,” Levy said. “We don't sell very many horses anymore. We don't sell yearlings. We've just been selling broodmares, weanlings and racing prospects. But believe it or not, we have not had one single RNA. So that says a lot. It just goes to show you that if you bring good horses, the market will reward you.”
