Forward of the not too long ago accomplished Keeneland September Yearling Sale, vp of gross sales Tony Lacy mentioned the Keeneland inspection group noticed a excessive stage of consistency and high quality all through the three,539 horses supplied Sept. 9-21.
The standard shone by way of because the Lexington gross sales firm celebrated a file gross of $427.8 million and a file $148,130 common (each statistics together with non-public gross sales). The median of $70,000 equaled the sale’s file.
An evaluation of the sale’s outcomes by decile exhibits the place the consistency contributed to the record-setting outcomes.
Positive, a $5 million sale topper is a giant contributor to the gross, however a 4.3% improve within the common for the highest decile—the highest 10% of horses bought—is a extra substantial affect. The highest decile common was $651,972 in comparison with $624,913 final 12 months and $605,320 in 2022, when the September sale set its earlier file by gross ($418,271,200).
Photograph: KeenelandThe Curlon colt consigned as Hip 347 within the gross sales ring on the Keeneland September SaleSign up for BloodHorse Each day
The highest 5 deciles for this 12 months’s sale all reported vital development in common worth, whereas final 12 months solely the highest two among the many prime six deciles reported positive factors in contrast with the 2022 sale. The most important positive factors this 12 months had been seen within the fourth decile, representing yearlings that bought within the $100,000-$150,000 vary. This decile averaged $127,211, which was 8.8% larger than the identical decile of 2023, which was represented by the identical worth vary. Extra horses, nevertheless, bought throughout the decile this 12 months slid towards the upper finish, as proven by the fourth decile median, which was $130,000 for this 12 months in contrast with $120,000 a 12 months in the past.
Solely two deciles this 12 months confirmed vital decline—the eighth and ninth deciles that embrace horses bought within the $9,000-$30,000 vary. The most important drop occurred within the ninth decile (horses promoting for $9,000-$17,000), which confirmed a 6.3% drop in common to $13,076 from $13,960 a 12 months in the past.
Curiously, the underside decile—horses bought for $1,000-$9,000—reported a 1.9% improve in common, regardless that the excessive finish of the worth vary a 12 months in the past was $10,000. The rise in common is minor however as a comparability, the underside decile of 2023 confirmed a 14% lower within the common.
“The vitality right here was at occasions paying homage to one other period,” mentioned Lacy. “When the horses confirmed up on the sale, it verified our expectations. The market was very broad-based. We noticed new faces and welcomed again individuals we’ve not seen in years from everywhere in the world who returned due to their confidence within the U.S. trade and Keeneland being a world market.”
Among the many contributing components cited for the renewed confidence within the U.S. trade are wealthy purse ranges throughout the nation driving demand for racehorses; the success of American-bred horses racing world wide; and stronger remedy laws at racetracks and auctions.
Cormac Breathnach, senior director of gross sales operations, mentioned the top quality supplied through the September sale attracted an particularly deep bench of patrons.
“Probably the most gratifying factor for us is to see patrons from 31 international locations who’ve purchased from the September Sale catalog,” he mentioned. “Twenty-four completely different patrons purchased the 36 seven-figure horses, which is a file by way of the variety of particular person individuals who have participated at that stage, each worldwide and home. That is the market we attempt to present the individuals who assist us. There’s loads of effort by our group to pay again the individuals who ship us these fantastically prepped and well-bred and well-raised athletes.”
