Keeneland September Yearling Sale concludes on a par with last year's figures

The final session of the September Yearling Sale at Keeneland concluded on Saturday with a Silent Name colt realising $185,000 from X-Men Racing/Madaket Stable/SF Racing. Grovendale Sales consigned the dark bay out of Holy Cargo as hip 4037, which set a session record price.

"He was a lovely quality two-turn horse," James Keogh of Grovendale said. "He was raised at Castleton Lyons; Pat [Hayes, manager] and the men there did a great job prepping him. It was just a great way to end the sale."

Bred in Ontario by BHMFR, the colt is sibling to four runners, including the winning son of Street Boss, Nantasket Beach. The Holy Bull dam is half sibling to Preakness Stakes winner Red Bullet and Canadian stakes winner Millennium Allstar. Their dam Cargo, by Caro, was a multiple Graded-placed runner on the West Coast in the Silver Belles Handicap, Santa Anita Budweiser Breeders' Cup Handicap, and A Gleam Handicap.

"Coming into this year, we had a bit of caution because of the economic climate and some negativity in the sport, and we have been extremely happy with how the sale has gone," said Keeneland vice president of sales Tony Lacy. "This year, we had a broader base of buyers in all market sectors than we have seen. It was great to see the pavilion packed on the first day, and the only issue being a lack of seating. 

"The sellers felt encouraged by the traffic in the barns and the amount of vetting. Overall, the table was set, and we have come out of the sale with numbers very similar to last year, which was a record year."

Cormac Breathnach (right) and Tony Lacy from Keeneland were happy with how the sale had progressedCredit: Keeneland photo

The 12th session ended with 180 yearlings sold of the 194 to head through the ring for gross receipts of $2,533,100, suitable for an average price of $14,073 and a median of $9,250. The 14 yearlings who failed to sell represent an RNA (reserve not attained) rate of 7.2 per cent.

During last year's final session,184 horses were traded of the 202 on offer for sales of $2,518,000, recording an average price of $13,685 and an $8,000 median. An RNA rate of 8.9 per cent represents 18 horses who failed to sell.

Vinery Sales sold 27 yearlings from their final draft for a gross of $349,500, at an average of $12,944, to be the session 12 leading consignor. X-Men Racing/Madaket Stable/SF Racing closed out Saturday's session with their single purchase to be the session-leading buyer.

"Forward physicals are something we have stressed as much as we can for the past three September Sales," said Cormac Breathnach, director of sales operations at Keeneland. 

"We worked hard last year to do the same and saw significant results not just in the first books but throughout the sale. It helps get people on to the grounds early and keep them here. It pushes the buyers who might have been outbid early and helps through the entire sale. We went into the sale this year and will continue to do so with that same focus."

Over the past 12 selling days 2,884 horses have changed hands of the 3,448 to go under the hammer for final figures of $408,054,900, setting an average price of $141,489 and a median of $67,000. An RNA rate of 16.4 per cent represents the 564 yearlings who failed to attain their reserve.

During last year's record-setting sale, 2,963 horses were sold of the 3,482 through the ring, recording a gross of $418,271,200. An average of $141,165 and a median of $70,000 was recorded. There were 519 yearlings who did not sell, representing an RNA rate of 14.9 per cent.

"It's a very healthy market with a lot of participation from many countries and domestic buyers," Breathnach commented. "We feel like we have a good formula with the consistent format and the focus on getting good physicals in the early books."

The sale saw 30 yearlings sell for $1 million or more, the same as the previous year, and 171 horses sell for $500,000 or more this sale. Gainesway sold 137 yearlings for a gross of $43,573,000 to be the sale's leading consignor, while Donato Lanni, purchasing for SF/Starlight/Madaket, picked up 20 yearlings for receipts of $12,590,000 to lead the way.

The format seen the past three years of each book selling over two days, with the first book slimmed down to 400 horses, has been a positive change. Keeping the sale on par with last year's record-setting year is not just luck; it resulted from consistency.

"When you break the $400 million mark two years in a row, it illustrates the stability; the one thing our buyers and clients want is consistency," said Lacy. "We put our necks on the line, but it was something that needed to happen, and I believe the consignors and breeders are starting to understand what we are trying to do and achieving. We can see some stability and maintain these good numbers even in these challenging economic times."

Lacy added: "We need to focus on the positivity because there are a lot of good things going on in the industry right now, and the things that we need to fix, I believe we are in a position to tackle those in a meaningful way. Breeders feel encouraged; people are looking to upgrade their mares to invest in November; pinhookers are looking to invest in foals. There are a lot of good things coming out of this sale."

Keeneland will now set its sights on the Breeding Stock Sale, November 8-16, followed by the Horses of Racing Age Sale, November 17.

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