Electrically Charged Keeneland Session Soars

In an electrically charged atmosphere, a half sister to champion Beholder and leading sire Into Mischief  was sold for $8.2 million to lead a parade of seven-figure transactions as prices soared during the Sept. 11 session of the Keeneland September Yearling Sale.

Boosted by international players such as Sheikh Mohammed's Godolphin operation and M.V. Magnier of Coolmore Stud going toe-to-toe with major domestic stables like Mandy Pope's Whisper Hill Farm, the Edwards family's e Five Racing, and Robert and Lawana Low, the session that closed Book 1 of the auction was one of the strongest in recent memory.

Keeneland reported 124 horses sold during the session for $65,082,000, an average price of $524,855 and a $375,000 median price. With 29 yearlings going unsold, the RNA rate was 19%.

Session-to-session comparisons with 2018 are not accurate because the format for the sale was revamped, with fewer horses offered and sold each day during Book 1.

From 569 cataloged in Book 1, Keeneland reported 340 yearlings grossed $160,463,000, with an average price of $471,950 and a $355,000 median. After three longer sessions a year ago, 457 horses had averaged $366,166 with a $280,000 median on gross receipts of $167,338,000. The cumulative RNA rate is 26.1% this year, compared with 27.5% in 2018.

There were eight yearlings sold for $1 million or more Wednesday and 28 that fetched final bids of $700,000 or more. A total of 20 yearlings sold for seven figures in Book 1, including seven that brought final bids of $2 million or more.

"I don't know that I've been through a session like we had today," said an awestruck Bob Elliston, Keeneland vice president of racing and sales, of the session that saw the second horse through the ring bring $1.3 million. "That was memorable. I would describe today's session as the cherry on top of the sundae that is the three days that is Book 1. That's the way you close out a Book 1."

The sale topper was a beautiful daughter of Triple Crown winner American Pharoah  bred and consigned by Fred and Nancy Mitchell's Clarkland Farm. The filly is a half sister to 11-time grade 1 winner and four-time champion Beholder, grade 1 winner and sire Into Mischief, and Breeders' Cup Juvenile Turf (G1T) winner and freshman sire Mendelssohn . 

The price was the highest paid in history for a filly at the September sale and matched the fourth-highest overall at the annual auction.

Keen to add the American Pharoah filly to her roster of blueblood Thoroughbreds that includes champion broodmares Havre de Grace, Songbird, and Groupie Doll, Pope outlasted Godolphin and Coolmore in a protracted bidding war.

"She has a lot more pedigree than some of (my broodmares), but she doesn't have the race record yet," Pope said. "You can't fault her. She's perfectly balanced, she's gorgeous—not too big, not too small. Obviously, we're hoping Beholder hits it as a broodmare. She certainly has tremendous value should she not make it to the races for whatever reason. Like everything else, it's a big gamble. Fingers crossed, lots of prayers, and please wish us well." 

As the sale moves into Book 2 Sept. 13 after a dark day with no sale Thursday, consignors should be realistic about reserves and not be influenced by the large numbers generated in Book 1, said Mark Taylor, whose family's Taylor Made Sales Agency was leading consignor over the first three days with 61 horses selling for $23,745,000.

"I think sellers in Book 2 have to stay realistic," the horseman said. "You know that horses are bringing huge money that check all the boxes—they've got conformation, pedigree, and they vet good—but when we get into more working horses, it's (buyers) with investment money. I think as we move (into Book 2, the market is) going to become more realistic, and you've got to be cognizant of that and keep your reserves reasonable."

Christine Oser and Meredith Daugherty contributed to this story