Keeneland closes 14.8% down

Filed on 24 Sep 2008 @ 09:03

Keeneland, 24 September 2008

The Keeneland September Yearling Sale closed on Tuesday with with sales totaling nearly $328 million.

Cumulatively, the 15-day sale totaled $327,999,100, down 14.8 percent from last year’s $385,018,600. Average price of $90,984 dipped 10.2 percent from $101,347 reported in 2007. The median of $37,000 was down 11.9 percent from last year’s $42,000. A total of 3,605 yearlings were sold compared to 3,799 a year ago.

Eighteen yearlings sold for $1 million or more, including the sale-topping A.P. Indy filly out of Chimichurri, which brought a final bid of $3.1 million from John Ferguson, on behalf of Sheikh Mohammed bin Rashid al Maktoum. The filly was consigned by Gainesway, agent for Jess Jackson’s Stonestreet Thoroughbred Holdings LLC.

“To have the fourth-largest gross in September Sale history is a testament to the drawing power of this sale,? said Geoffrey Russell, Keeneland’s director of sales. “There was a diverse group of buyers, both foreign and domestic, in attendance throughout the two weeks. We saw especially strong representation from countries whose economies are doing well and whose business we have actively cultivated, such as the Russian republics, Latin America and Scandinavia.

“We are very pleased that the sale was steady and solid; a reflection of our consignors’ ability to adapt to this market.?

Russell noted several factors – a weak economy, the cyclical nature of our business, the negative publicity our industry has received lately, and an oversupply of horses – which contributed to the downtown.

“The Thoroughbred industry tends to run in cycles, and if you look at the statistics, 2003 was a rebound year,? he explained. “The downturn was expected to occur last year, but sales were buoyed by the favorable exchange rate that spurred foreign spending.

“On the positive side, a reduction in prices should encourage those on the sidelines to become involved in the industry,? he said. “Right now it’s a challenge to woo new domestic investors in light of the negative publicity racing has experienced these past few months. And the Welfare and Safety Committee should be commended for its work to improve racing’s image. But all of us associated with breeding and sales must take responsibility to encourage newcomers to participate in the sport.?

Russell continued to cite the oversupply of horses as a critical issue for the industry.

“It’s a question of profitability for breeders, some of whom suffered a painful reality check during this sale,? he added.

“There are still too many non-commercial horses being offered. This market adjustment will have a positive effect in the reduction of production costs.?

Fillies accounted for the September Sale’s top three prices, led by the aforementioned A.P. Indy filly, purchased by John Ferguson for $3.1 million. Ferguson, also on behalf of Sheikh Mohammed, paid $1.7 million for a half-sister by Unbridled’s Song to champion sprinter and freshman sire Speightstown, consigned by Taylor Made Sales Agency, agent for Aaron and Marie Jones.

Ferguson was the sale’s leading buyer, purchasing 27 yearlings for $18,185,000. For the fifth consecutive year, Taylor Made Sales Agency ranked as the leading sale consignor, selling 374 yearlings for $48,929,900.

On Tuesday, Keeneland sold 149 horses for $1,135,600, down 26.8 percent from a year ago when 172 horses brought $1,551,500. The day’s average of $7,621 was down 15.5 percent from $9,020 in 2007, while the median dipped 13 percent to $5,000 from $5,750 last year.

A colt by Chapel Royal brought the highest price on Tuesday, selling for $50,000 to Diamond G Ranch Inc. Consigned by Eaton Sales, agent for Overbrook Farm, the colt is out of the Deputy Minister mare McConnell Springs and a half-sister to stakes-placed Talullah Lula.

Top lots, session fifteen

lotSexSireDamVendorPurchaserPrice, $
5538CChapel RoyalMcConnell SpringsEaton Sales Agent for Overbrook FarmDiamond G Ranch Inc.50000
5412CEddingtonCatchyEaton Sales Agent for Overbrook FarmDiamond G Ranch Inc.35000
5541CStormin FeverMinistraGlenmalure Farm LLC (Peter and Gina Kirwan) AgentEddie Kenneally Agent35000
5335FForest WildcatT. C. LuBluegrass Thor. Services Inc. (J. Stuart) Agent for MuellerRobert Brewer Agent for Paul Daniel32000
5392FDehereBelieve in MissyGainesway Agent LIIIDan Kenny Agent for James Redekop32000
5417FMineshaftChocolate FudgeThree Chimneys Sales AgentJonathan Dean28000
5510FSky ClassicJust Like FrancesLegacy Bloodstock Agent CXVIHeiligbrodt Racing Stable28000
5374FFive Star DayAndNardelli Sales Agent IIIGarry Simms Agent for Burr Travis27000
5340FEl CorredorTerre HauteEaton Sales Agent for Overbrook FarmAudley End/Kim Hale25000
5536FFlatterMaskShawhan Place LLC AgentHeiligbrodt Racing Stable25000
5282FYonaguskaRight About NowMarion Bloodstock Agent IVHalvorson Bloodstock22000
5279FAptitudeReigning DynastyCastle Park Farm LLC (Noel Murphy) Agent IIDunraven Racing20000
5375FAction This DayAngel in the WindKatalpa Farm (Lonnie R. Owens/Lee McMillin) Agent for FaulknerEpona LLC20000
5454CMonarchosEven AgainGainesway Agent LVIIIDiamond G Ranch Inc.18500
5324FStephen Got EvenString of PearlsGainesway Agent LVIIIFred Bradley18000
5338FVicarTemperallesBluegrass Thor. Services Inc. (J. Stuart) Agent for MuellerGus Headley17000
5250CTeton ForestPalace IntrigueEaton Sales AgentMichelle Mullins Agent16000
5516FHennessyKristiEaton Sales Agent for Overbrook FarmJanet McCardy (Campbell Farms)16000
5259CSky MesaPost HasteThree Chimneys Sales AgentHerman Wilensky15000
5323CBuddhaStriking MoveThree Chimneys Sales AgentWilfredo Alvarez15000
5471FStorm BootFlirty McGuertyCrosswind FarmWilliam Napier15000
5496FOut of PlaceHistorical DriveThree Chimneys Sales AgentLars Kelp Agent15000
5514FCactus RidgeKirsten DollThree Chimneys Sales AgentFGF Stables15000
5291CVindicationSavannah BayouThree Chimneys Sales Agent for Padua StablesMark Glatt13000
5418FPowerscourt (GB)Classic GarboRockwell Sales Agency (Claire Reece) AgentRace Brook12500
5520CChapel RoyalLake BaratariaHighclere Sales Agent XVConnie Ingle Agent for Viking Stud Inc.12500
5449FHoly BullDynakittenRichland Hills (Nathan Fox)Merrill Scherer12000
5353CPollard's VisionUncharted WatersGainesway Agent LIJohn H. Smith11000
5358FEavesdropperWellPope McLean (Crestwood Farm) Agent IIIMerrill Scherer11000
5450FThunder GulchDynamisticGainesway Agent LVIIIDouglas Arnold Agent for Steve Belford11000
5359CEcton ParkWhat a BoutHill 'n' Dale Sales Agency AgentWilfredo Alvarez10500
5438CRichter ScaleDarling DeputyCastle Park Farm LLC (Noel Murphy) Agent IIIBlake Heap10500
5478CDehereGlamorous OneTaylor Made Sales Agency Agent CVIIThe Twins10500
5288FBernsteinSanta CristinaBrandywine Farm LLC (Jim and Pam Robinson) Agent for LiberationKlesko Farm10000
5327CGrindstoneSummer QueenGainesway Agent for Marylou Whitney StablesRaut LLC Bloodstock Agency10000
5364CCape TownWild CountryEaton Sales Agent for Overbrook FarmErnest Colvin10000
5409FCandy Ride (ARG)Carlee's CupidHopewell Farm LLC Agent for Liberation Farm and OratisCarlos S.E. Moore Agent10000

Filed on 24 Sep 2008 @ 09:03