by Jessica Martini & Christina Bossinakis
LEXINGTON, Ky – With a pair of seven-figure colts by Nyquist leading the way, trade remained strong straight through the conclusion of Book 2 during the fourth session of the Keeneland September Yearling Sale Thursday in Lexington.
“It was a great day,” said Keeneland Vice President of Sales Tony Lacy at the close of business Thursday evening. “We are very pleased. The median is up 25% for the session over last year, which is a metric that we always use. That shows that it was really difficult to buy a nice horse. Everyone was fighting over the ones they wanted. There was a real was vibrant trade on the ones they wanted.”
For the session, 216 horses sold for $63,046,000. The average of $291,880 rose 13.25% from last year's corresponding session and the median was up 25.0% to $250,000.
Through the two Book 2 sessions, Keeneland sold 436 yearlings through the ring for a gross of $132,963,000. The average was up 8.1% to $304,961 and the median rose 15.6% to $260,000.
During last year's two-session Book 2, 416 yearlings sold through the ring for a total of $117,375,000 for an average of $282,151 and a median of $225,000.
Through four sessions, the buy-back rate is 29.59%. It was 28.67% at the same point a year ago, but there have been plenty of post-sale transactions. As of Thursday evening, there were 40 horses listed as post-sales through the two books for a gross of $8,925,000.
“The RNA rate was a little higher than last year, but there is a vibrant RNA-to-sale trade,” Lacy said. “We have over $9 million worth of horses registered already as sales that are going to be published. It's very much on track with last year. Even the second to last horse [Thursday] RNA'd and came in and was done straight afterwards.”
Keeneland Director of Sales Operations Cormac Breathnach added, “Over the week, the RNA rate is about the same, it's maybe 1% higher than it was through week one last year, which means that some people are not getting their horses sold through the ring. That's something we will always be monitoring, talking to people and getting feedback to make sure that the buyers are here at every level for week one as well. Last year, we did a lot of RNA-to-sales and this year we are well on track to match or even exceed that, which is important for the sellers and breeders.”
Elliott Walden, bidding on behalf of Maverick Racing, CHC, Inc., and Siena Farm, made the highest bid of Thursday's session, going to $1.3 million to acquire a colt by Nyquist from the Blake-Albina Thoroughbred Services consignment. Late in the day, John Stewart of Resolute Bloodstock bid $1.2 million to acquire a son of the Kentucky Derby winner from the Indian Creek consignment.
The two seven-figure yearlings brought the total to reach that threshold over the first four days of the auction to 36.
“For us, the sale has been wonderful,” said Indian Creek's Sarah Sutherland. “I think if you are in the right spot, things line up well and you are rewarded handsomely. The market is strong for those top horses. I think it will continue to trickle down. There are going to be quality horses all the way through. You just have to stick around and keep working and shaking the bushes.”
The domestic buying bench remained dominant during Book 2, but there also continued to be broad international participation.
“We have a lot of the players–especially the trainers–that were active in the first three days and were still here today and they are still looking,” said Lacy. “That is really encouraging for the next group of horses. There are a lot of people who haven't gotten their hand up and some people are just starting to get traction now.
“The domestic buyers were strong, but we also saw Michael Costa from Jebel Ali Stable from Dubai buying four, the Japanese are very much in play still, and there are a lot of Irish that are here looking to buy for pinhooking. Coolmore bought today. It's a very vibrant and broad marketplace still. And it gives you the feel that a lot of these people are not going anywhere. They are going to be around next week.”
Following a dark day Friday, the Keeneland September sale resumes Saturday and continues through Sept. 21. Sessions begin daily at 10 a.m.
“A Man Among Boys”: $1.3M Nyquist Tops Book 2 Finale
Midway through Thursday's second Book 2 session, a colt by Kentucky Derby hero Nyquist (Hip 984) lit up the tote board with a $1.3 million final bid from WinStar's Elliott Walden, who was bidding on behalf of China Horse Club, Maverick Racing and Siena Farm.
“Everybody seems to want a Nyquist, Gun Runner, Justify or Constitution…there are a lot of them in here,” said Walden. “You have to sort through them. This was the one we landed on.”
Out of Spa Treatment (Bernardini), the bay was consigned by agent Blake-Albina Thoroughbred Services.
All eyes on hip 984 as the Nyquist colt out of Spa Treatment sells for $1.3 million! Consigned by Blake-Albina Thoroughbred Services and purchased by @Chinahorseclub, Maverick Racing & Siena Farm. #KeeSept pic.twitter.com/wE3WOTL4dS
— Keeneland Sales (@keenelandsales) September 12, 2024
“He was always was a beautiful colt and we felt like Book 2 would suit him better; he would stand out,” said Ron Blake. “He had such presence in the way he carries himself in everything he does. He is first class and the buyers could see that. It's always hard to get those kinds of numbers. We knew we had a lot of people on him, but we just didn't know if it would go that far. He deserved it.”
Selling on behalf of an undisclosed client, the Feb. 10 foal previously brought $385,000 at Keeneland last November.
“He was a 385,000 pinhook, but I don't think it's ever reasonable that you are going to get seven figures,” Hanzly Albina admitted. “There is a lot that has to go right. There was definitely a point [Wednesday] that I felt pretty confident that we were going to get pretty close. [Thursday], I felt super confident that we were going to get there. But you still have to do it. ”
The colt was bred by Hunter Valley Farm and Springhouse Farm. The latter purchased Spa Treatment, a daughter of SW and GISP Silver Knockers (Silver Deputy), for $140,000 at the Fasig-Tipton Mixed sale in 2019.
“I went to the farm in the spring to look at some of the horses we were looking at selling and this is definitely one of the yearlings that caught everyone's eye,” recalled Albina. “He's just a beautiful horse all around. He really stood out…a man among boys. He was always a very nice individual but he developed properly.”
The yearling represents the same cross as four Grade I winners, including recent GI Spinaway Stakes winner Immersive. Trained by Brad Cox for Godolphin, that daughter of Bernardini's Gap Year also won her career debut at the Spa July 21.
“Obviously, Nyquist over Bernardini is a great cross,” explained Walden. “[Hip 984] was one of our favorite horses in the sale–very strong.”
“That cross works very well, it's a high-statistical cross and he's a beautiful horse, one of our favorites of the sale. Book 1, Book 2–it didn't matter. We were very bullish on him.”
Asked about some of the changes that have been made throughout the Keeneland pavilion of late, Walden opined, “I love the tables that they set up and the fact that Keeneland, Tony Lacy and Shannon Arvin are changing the culture here. It's a lot more consumer friendly and they're trying to do some different things. You see a building going up around the grandstand and it's exciting to see what's next for the next generation.”—@CBossTDN
Blake-Albina Riding High After Session-Topping Score
Highlighted by Thursday's session-leading colt by Nyquist, Blake-Albina Thoroughbred Services enjoyed solid action through the first four days of selling at the Keeneland September Sale.
Asked about the pre-sale action leading up to the sale of Thursday's top yearling, Hanzly Albina explained, “The activity at the barn was crazy. That horse had 218 shows. The average horse in my consignment got 126. And we were happy with those and they sold well. They were well-sold horses. People came to see [Hip 984] three, four times, people were taking videos for international clients. There was definitely buzz.”
Through the sale's initial four sessions, three yearlings by Darley's champion juvenile and Classic winner Nyquist realized seven-figure prices.
“He definitely is the best example of his father,” said Albina of the sale's co-seventh leading priced yearling. “He had leg, size and more than enough hip for his body. He was a very tight package all around. All the parts matched. With that huge push that the stallion is getting, it took it over. When you get a physical like this, it gives people a lot of confidence in the stallion. It's not a question anymore. He's here to stay and they're ready to pay money for them.”
Through four days, the Blake-Albina consignment offered nine head, with five finding buyers through the ring, in addition to one selling post sale (Hip 933].
From four horses offered in Book 1, the operation sold half–a colt by Tapit (Hip 42) going to Chad Summers for $400,000 and a colt by Candy Ride (Arg) (Hip 287) for $550,000 to BC Stables.
“Book 1 is an interesting beast because Book 1 horses were expensive to breed,” explained Albina. “They are usually bred by people with means, and they don't have to sell. They can choose to test the market and choose to bring the horse to market. They are often sellers at a price. So it's a bit unfair to judge the entire market on the RNA rate of those sessions. If the horse doesn't sell, it can be kept to go into training. So for us, that was Book 1. We bought a few back and sold others really well, but we're happy overall.”
Offering five head in Book 2, the operation sold four of five, including a pair of $300,000 purchases (Hip 892, Medaglia d'Oro filly and Hip 921, Tapit colt).
“In Book 2, we sold most of our horses. On most of those we got what we expected,” he said. “We were realistic but on the high end of realistic. So it was very good. If you had told me we would have gotten 20% less on all the horses we sold, I still would have been very happy.”—@CBossTDN
Stewart Still Swinging in Book 2 Conclusion
Things appeared to be gearing down toward the end of Thursday's fourth day of selling at Keeneland. That is until Resolute Bloodstock's John Stewart reappeared in the main pavilion. On a day that proved prolific for Nyquist, a colt by the Darley sire brought $1.2 million from Stewart, making it the second-highest price of the fourth session.
“I like the way that [Nyquist] horses have run. I really think that there is nothing but upside there,” said Stewart. “Then the physical of the horse–it was our top colt for the day. I was joking around that I was waiting for that horse for four hours, and there was no way I wasn't buying it. Whoever I was bidding against on the phone I was just watching, thinking, 'I'm going to keep going. Let's go.'”
Offered as Hip 1114, the Apr. 10 foal, who was bred by County Line Farm, was consigned by Indian Creek.
“This is a horse that we loved for a really long time,” said Indian Creek's Sarah Sutherland. “He seemed like he was very well received, but you just don't know. It takes people that are going to be spirited bidding and they have to fight for a horse like this, and if they do, you can have amazing results. It definitely exceeded out expectations, but I'll never complain about that.”
Resolute Bloodstock goes to $1.2 million for a Nyquist colt out of Candy Swap, consigned by Indian Creek! #KeeSept pic.twitter.com/Qfu5bTfN5S
— Keeneland Sales (@keenelandsales) September 13, 2024
The bay is out of the Candy Ride (Arg) mare GSW Candy Swap, herself a full sister to Grade I winner and sire Sidney's Candy. Candy Swap is already responsible for stakes-winning Bluegrass Parkway (Quality Road). Candy Swap, in foal to Quality Road, was purchased in 2015 for $200,000 at Keeneland November.
“He is one of those horses that shows that he wants to do it,” said Sutherland. “He's going to want to train and be forward in everything that he does. He never got tired. He's a feel-good type of colt and it translated well with what we asked him. He didn't let us down.”
Earlier in Thursday's session, another colt by Nyquist (hip 984) brought a session-topping $1.3 million.
“Honestly, I thought that was very strong and good for [those connections] because he was a very nice horse. But to have two of them right there together at $1.2 and $1.3 million says there wasn't much to separate them. The stallion can do no wrong right now.”
“[Hip 1114]'s got a nice pedigree and he's a Classic distance type of horse. I think he's one that is not even close to his best right now. He's a beautiful mover but there is a lot of improvement in this colt.”
At the conclusion of Thursday's session, Stewart had purchased an additional three yearlings. In addition to the second-highest priced colt of the day, he secured Hip 829 by Authentic for $750,000 and Hip 885 by Vekoma for $600,000.
Through four sessions, Resolute purchased nine head–including two seven-figure yearlings–for $6.325 million.
According to Stewart, he also bought into the $2.2-million Gun Runner colt (Hip 169) purchased by Mandy Pope in Book 1.
“I think the top of the market is doing well,” said Stewart. “That is really good for everybody.”
According to Stewart, Resolute has secured 47 yearlings in 2024, to add to the weanlings purchased last fall.
“I've got too many yearlings now so I've got to figure out what to do,” he said. “We still have some sales to go through and we're active overseas now with [Goffs and Tattersalls]. I don't want more than 50 going into racing next year, so I'm going to have to cull some of the ones we've bought, but I think the market is pretty good.”
Giving a nod to what lies ahead at the upcoming breeding stocks sales, he explained, “We've got some exciting things planned for the foal sales coming up. Something that could really boost the market and benefit the people that make a living of buying foals and selling yearlings–the pinhooking market. It's something the industry is really not seeing which is some widespread financing.
“I've been working for a year to put together a program to offer some financing on weanlings. So hopefully, we will have it ready for the weanling sale and inject about $20 million to support the market. I think that is part of solving this problem of the declining foal population. It's about making it more profitable to breed good horses. I think that will be interesting and there will be more details coming out about it in the next few months.”—@CBossTDN
Team Dornoch Restocks
As retirement looms for GI Belmont Stakes and GI Haskell Stakes winner Dornoch (Good Magic), the team of partners on the sophomore is restocking with more yearlings by Good Magic and his sire Curlin. Bloodstock agent Megan Jones, bidding alongside trainer Danny Gargan, purchased a colt by Curlin (hip 875) for $850,000. Out of Grade I-placed Lady Kate (Bernardini), the yearling was consigned by Indian Creek on behalf of Barbara Banke's Stonestreet.
“He was just a beautiful specimen,” Jones said after signing the ticket on the yearling. “He did everything right. Bred by Barbara, obviously, we loved that. We loved the pedigree. I thought he did everything right in the back ring.”
Leading the session 4 action thus far is hip 875, a Curlin colt out of SW/G1-placed Lady Kate consigned by @IndianCreekKy for @StonestreetFarm. Jones/Everett/Reeves, Vekoma, Belmar, Pine, Legendary paid $850,000 for the colt. pic.twitter.com/xvonGFgOd5
— Keeneland Sales (@keenelandsales) September 12, 2024
Of the colt's new owners, Jones said, “It's most of the same guys who own Dornoch–it will be Belmar Racing, Randy Hill, Dean Reeves and Mark Pine.”
Earlier in the auction, Jones signed on behalf of the group for a colt by Good Magic (hip 540) for $550,000 and the partners came back later in the day Thursday to acquire a colt by Good Magic (hip 955) for $600,000.
They also acquired a colt by Good Magic (hip 224) for $850,000 at the Fasig-Tipton Saratoga sale last month.
“We love Curlin and Good Magic,” Jones said. “Danny has had three Good Magics and three graded stakes winners. We love Curlin and Good Magic, we just feel safe and happy there.”
In addition to Dornoch, Gargan also trains graded winners Society Man and Dubyuhnell, both by Good Magic.
As Dornoch battles to the end of the year for an Eclipse championship, Jones admitted the partners were eager to find their next star.
“They would love to come back and do that again in two years,” she said.
Of the competitive market at Keeneland, Jones said, “It's amazing. It's incredibly strong. If you love a horse that does everything right, they are very hard to take home. I think that's exciting for racing. It's been very hard up here, but that's good for the breeders.” @JessMartiniTDN
Into Mischief Colt Brings $825K Thursday
A colt by Into Mischief realized $825,000 during Thursday's action at Keeneland. Offered as Hip 898 by agent Mill Ridge Sales, the bay was purchased by Windancer Farm.
The colt is the first foal out of Mighty Road, who made a single career start, finishing ninth at Gulfstream in 2020, before being retired due to injury.
The daughter of Quality Road, who brought $1 million at the 2019 OBS Spring Sale after selling for $220,000 at KEESEP, is a half sister to Grade II winner Decelerator (Dehere), the dam of GSWs Nafaayes (Exceed And Excel {Aus}) and Stoltz (More Than Ready). This represents the extended family of Grade I/Group 1 scorers Fabulous Notion and Cacoethes.
“He was really special colt,” said Price Bell of Mill Ridge Sales. “Mighty Road was a very good 2-year-old who sold for $1 million and had an injury. She had a lot of ability. The colt has a ton of class.”
He continued, “Margaux Farm raised the horse and we had the privilege to consign him. He was a star from the beginning and had a lot of interest from a lot of good judges.”
In regard to the Spendthrift sire, Bell added, “What a sire Into Mischief has been. He throws all shapes and sizes and the beauty is they all like to run.”—@CBossTDN
Dooleys Cap Big Day with Not This Time Colt
Sarah and Leo Dooley's Norevale Farm had already had a series of pinhooking scores when they sent their homebred colt by Not This Time (hip 1067) through the ring Thursday evening to sell for $825,000 to the bid of Belladonna Racing. The yearling, bred in partnership with Sarah's father Tony Holmes and brother Michael Holmes, is a half-brother to this year's GII Rebel Stakes runner-up Common Defense (Karakontie {Jpn}). The team purchased Allusion (Street Cry {Ire}), with Common Defense in utero, for $25,000 at the 2021 Keeneland January sale.
“We bought the mare a few years ago kind of cheap and everything has come together,” said Sarah. “This has always been an awesome foal. We bought him back as a foal and he has just done super as a yearling. He is a tremendous physical, a super cool horse.”
The yearling RNA'd for $260,000 at last year's Keeneland November sale.
“The page came together a lot with Common Defense being on the Derby trail,” Leo said of the difference between the results last November and Thursday. “He would have been in the Derby if not for a minor injury beforehand. And the yearling, physically, just got better and better. And Not This Time is on fire.”
The couple are consigning under the Norevale for just the second time and Thursday's $825,000 result marked a high-water mark for the farm.
“It's our second sale. Our first was in July and this is our first September,” Sarah said with a broad smile. “Records fell today.”
Before its homebred success Thursday, Norevale had a pair of pinhook successes. A colt by Charlatan (hip 881) purchased for $150,000 at Keeneland last November sold for $450,000 to Pedro Lanz; while a colt by Good Magic (hip 1012) purchased for $175,000 last November sold for $475,000 to Reeves Thoroughbred Racing.
Also Thursday, Norevale consigned a filly by Good Magic (hip 1001), bred by Tony and Michael Holmes, Timothy Thornton, and Norevale Farm, for $330,000 to Tracy Farmer. Thornton had purchased Sumptuous (Hennessy) with the filly in utero for $85,000 at the 2022 Keeneland November sale.
Completing the farm's day, a filly by Charlatan (hip 891) bred by Tony Holmes, sold for $300,000 to First Row Partners.
“We are delighted for the whole team,” Leo said. “It's a testament to all the hard work that the staff does. We are very thankful for a great staff at home. We've had a good sale. We knew we had good horses coming in here. It's nice to see that come together.”
Sarah added, “We are going to head back to the barn now and there are going to be a lot of hugs, high fives and maybe some tears. We've had a great day. It's great when the puzzle pieces come together. We are going to enjoy it, it's hard work and in a couple of months, it will be on to the next batch. It was a great day overall. It takes a village and we have a great village. We couldn't be more thrilled.” @JessMartiniTDN
Mike Ryan Landing a Gun Runner at KEESEP
Agent Mike Ryan has been busy filling orders this week, securing a bevy of babies from several of the best stallions in the country. One of the most sought-after sires that had eluded Ryan through the initial three sessions was Gun Runner. However, that changed Thursday when the agent extended to $750,000 for Hip 818.
#KeeSept Book 2, Thursday: Hip 818, a Gun Runner colt out of Giant Mover, sells for $750,000 to @MRyanBloodstock from the consignment of St George Sales, agent for Dell Ridge Farm – Phase II Dispersal.
A half-brother to FAMILY TREE, LIORA. pic.twitter.com/Fq6VMKFPZO
— TDN (@theTDN) September 12, 2024
Consigned by St George Sales, agent for Phase II of the Dell Ridge Farm dispersal, the Dell Ridge-bred colt is out of stakes-winning Giant Mover. The daughter Giant's Causeway produced GII Indiana Oaks scorer and GI Alabama third Family Tree (Smart Strike), who in turn foaled Grade II Heroic Move (Quality Road). The colt's dam is also responsible for GII Golden Rod winner and GI Kentucky Oaks runner-up Liora (Candy Ride {Arg}). In foal to Army Mule, Giant Mover most recently sold for $90,000 at Keeneland November last fall.
“It was pretty spirited bidding for that horse. It was really nice,” said Archie St George moments after the sale. “He had a lot of action and a lot of big players [on him]. He's a very nice horse.”
St George continued, “Gun Runner is a brilliant stallion. Arguably a top stallion in North America and out of a good mare. He was raised by a very good farm and I would like to thank Dell Ridge Farm. Des [Ryan] and Dell Ridge do a wonderful job.
“Thanks to Chad Brown and his team. We wish them the best of luck. We couldn't do this without the buyers and hopefully Chad has got a runner and he's got a nice horse. Fingers crossed.”—@CBossTDN
Book 2 Pinhooks Average a Profit of Over $136,000 Each
We took a deep dive into how Book 2's pinhooks fared and attempted to analyze how the prospects as a whole performed over the two days. We've subtracted a loose estimated cost of $25,000 for each yearling's board, veterinary expenses, farrier work, sales prep, and sales entry fees. Obviously, this amount has the potential to vary substantially per offering.
A total of 86 yearlings were consigned over the two days of Book 2 as pinhooks. Fourteen of the 86 were outs and 18 were RNAs, leaving 54 to represent the pinhook sector. The 54 sold for a total of $18.2 million from a combined output of $9,498,577 at original purchase. Less $1.35 million for the 54 in combined estimated costs, that leaves a profit of $7,351,423 for the group or an average of $136,137.46 and a median of $275,000. Forty-four were profitable at an average profit of $176,736.90 and 10 lost money at an average loss of $42,500. The obvious pinhooking standout was Nyquist's colt out of Spa Treatment, who was purchased for $385,000 by Goodwill Bloodstock at Keeneland November and resold Thursday for $1.3 million. @JillWilliamsTDN
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