Keeneland’s September Yearling Sale concluded its record-breaking run on Saturday with total sales through the ring of $411,749,500 to be the highest-grossing Thoroughbred auction in the world. The average of $150,548 is a September Sale record, while the median of $70,000 equals the record for a September Sale.
Fueling the dynamic results was competitive trade among the world’s most prominent buyers, driving the sale of 36 seven-figure horses (including one sold privately) for the most since 2005 and the purchase of a son of Curlin for $5 million – the highest price for a colt at the auction since 2006 and the most expensive horse sold at public auction this year in North America.
The record gross for the 12-day auction, held Sept. 9-21, bested the previous record of $405,495,700 set during the 2022 September Sale.
This year’s gross represents a 4.47% increase over $394,127,900 when 2,754 horses sold through the ring at last year’s 12-day sale. A total of 2,735 horses were sold this year.
Average price of $150,548 rose 5.20% over last year’s record $143,111. On Day 2 of the 2024 sale, the average of $611,038 established a September Sale session record, besting the previous mark of $589,814 from the same session in 2006.
Median price for the entire sale of $70,000 increased 4.48% from last year’s $67,000 and equaled the record of $70,000 set in 2022.
Additionally, as of Sept. 21, 153 horses that did not meet their reserve price in the ring were sold privately for a total of $16,050,000 to push gross sales to $427,800,000. Total sales including yearlings sold privately exceeded the record of $418,353,700 set in 2022.
“The September Sale truly is the world’s marketplace,” Keeneland President and CEO Shannon Arvin said. “We thank everyone who participated, especially the breeders and sellers who presented an exceptional group of yearlings and the buyers who responded enthusiastically to the quality.
“Keeneland shares their confidence in the sport, and that’s why we adhere so strongly to our mission to reinvest in racing and sales, which go hand in hand.
“The construction of the Paddock Building and the improvements to the Sales Pavilion, along with the enhanced hospitality and amenities, are all done with the goal to provide our customers, both now and in future generations, with the best environment possible for success.”
“The energy here was at times reminiscent of another era,” Keeneland Vice President of Sales Tony Lacy said. “When we were on inspections earlier this year, we saw quality and consistency among the crop, and it gave us a lot of excitement. And when the horses showed up at the sale it verified our expectations. The market was very broad based. We saw new faces and welcomed back people we haven’t seen in years from all over the world who returned because of their confidence in the U.S. industry and Keeneland being a global marketplace.”
Among the contributing factors cited for the renewed confidence in the U.S. industry are rich purse levels across the country driving demand for racehorses; the success of American-bred horses racing around the world; and stronger medication regulations at race tracks and auctions.
In addition to the record results, key metrics evidenced the unprecedented strength of the September Sale market and the depth of diversity among consignors and buyers:
• 36 horses sold for $1 million or more, second only to the 40 sold in 2005
• The 36 seven-figure horses were purchased by a record 24 different buyers
• 185 horses sold for $500,000 or more versus 168 in 2023
• 48 different consignors sold a horse for $500,000 or more
• 96 different buyers spent $1 million or more during the sale, compared to 82 last year
• Buyers representing 31 countries purchased horses.
For the fourth consecutive year, the format of the first four days of Week 1 – Books 1 and 2 – remained consistent with more than 1,000 yearlings judged to be the sale’s finest individuals based on conformation and pedigree. This structure enabled major domestic and international buyers to inspect the largest number of exceptional horses possible before the “dark day” on Friday, Sept. 13.
Demand at the top of the market during Week 1 sparked gross sales of $253 million, up 7.78% from last year’s $234 million for the corresponding period. Average price of $394,575 rose 7.27%, while the median remained unchanged at $300,000.
Mandy Pope’s Whisper Hill Farm bought the session toppers on each day of the premier Book 1 catalog. On Sept. 9, she paid $2.2 million for a colt by Gun Runner out of stakes winner Princesa Carolina who was consigned by Four Stars Sales, agent, and went to $5 million the following day for the Curlin colt, who is a full brother to multiple Grade 1 winner Clairiere. He was consigned by Indian Creek, agent for Stonestreet Bred & Raised.
The $5 million for the Curlin colt is the highest paid for a colt at the September Sale since Meydan City sold for $11.7 million in 2006.
“The whole process of putting the September Sale together is a team effort,” Breathnach said. “We rely first and foremost on the support of the breeders and consignors, who bring the horses here. Then it’s incumbent on us to reinforce the strength of the sale each year and attract more and more buyers from around the world and domestically. And our international outreach is paying dividends. This past year, sales staff traveled all over the world: the Middle East, Japan, Eastern Europe, Ireland, England, South America, Australia and at race meets across the U.S. We’re really putting our best foot forward to engage the international community as well as the domestic buyer base.”
Leading buyers featured a mix of the world’s most prominent entities, with domestic buyers flexing their spending muscle to take the top five spots: Donato Lanni, agent for SF/Starlight/Madaket; Belladonna Racing, Cherie DeVaux, agent; West Bloodstock, agent for Mike Repole Stable; Mandy Pope’s Whisper Hill Farm; and John Stewart’s Resolute Bloodstock.
Belladonna Racing, Cherie DeVaux, agent, bought 20 yearlings for a total of $9,845,000, led by a colt by Not This Time for $1.3 million, to be the sale’s second-highest buyer.
Consignors reaped the rewards of the action-packed market. Through Lane’s End, agent, Blue Heaven Farm sold a Curlin colt for $1.4 million and a Gun Runner filly for $975,000 during Book 1.
“We are a small family operation,” Blue Heaven Co-Owner, President and General Manager Adam Corndorf said. “We have had a few good ones over the years, but this was the first year we had two high-end horses that got up in the stratosphere. It was a dream come true.”
The bullish market continued through Week 2 of the sale, as major Week 1 buyers actively competed alongside new waves of international clientele.
Taylor Made Sales Agency, agent, was the leading consignor at the September Sale for the 25th year since 1988, selling 333 yearlings for $53,133,200 (including private sales). The gross is the highest for a September Sale consignor since Taylor Made grossed $57 million in 2007. Taylor Made’s consignment was headlined by a filly by Gun Runner purchased by Douglas Scharbauer for $1.05 million.
Other leading consignors included Gainesway, Paramount Sales, Hill ‘n’ Dale at Xalapa and Lane’s End Farm.
The leading sire by gross sales was Gun Runner, whose 62 yearlings sold for $32,665,000 (includes private sales). They included seven horses sold for $1 million or more, led by the aforementioned colt acquired for $2.2 million by Whisper Hill Farm.
Charlatan, winner of the RUNHAPPY Malibu (G1) and Arkansas Derby (G1), was the leading first-crop sire. He was represented by 79 yearlings who sold for $20,120,000 (includes private sales to date). Hill ‘n’ Dale at Xalapa consigned the two most expensive, both colts, who sold to M.V. Magnier and White Birch Farm for $1.4 million and Pin Oak Stud for $1 million.
Racing and more at Keeneland
Racing resumes at Keeneland for the 17-day Fall Meet from Oct. 4-26. The season, which will award a record $9.85 million in stakes purses, opens with the prestigious Fall Stars Weekend that features 11 stakes worth $5.8 million. Eight Fall Meet stakes are Breeders’ Cup Challenge “Win and You’re In” races, which award each winner an automatic and free entry into the World Championships at Del Mar on Nov. 1-2.
The inaugural Keeneland Championship Sale will be conducted the evening of Wednesday, Oct. 30 in the Paddock at Del Mar.
Keeneland’s 81st November Breeding Stock Sale will begin Tuesday, Nov. 5 and run through Wednesday, Nov. 13, followed by the November Horses of Racing Age Sale on Thursday, Nov. 14.
The 12th Sporting Art Auction will be held here Friday, Nov. 15.