Tapit Colt Brings $2 Million to Top Keeneland Book 1

They saved the best for last at the Keeneland September Yearling Sale's second session Sept. 14, with a frenzied pace in the final half-hour in which four yearlings were sold for seven figures, highlighted by a $2 million sale-topping son of Gainesway's Tapit .

Offered as Hip 435 by Eaton Sales, agent for breeder Barbara Banke's Stonestreet Bred & Raised, the foal was purchased by a partnership consisting of Eclipse Thoroughbreds, Robert LaPenta, Gainesway Farm, and Winchell Thoroughbreds with Stonestreet retaining a small equity interest as well.

The colt's dam, Tara's Tango, a daughter of Unbridled's Song whose three graded stakes wins included the Santa Margarita Stakes (G1), is out of the stakes-placed French Deputy mare Scarlet Tango. Among the three other graded stakes winners to represent Scarlet Tango was Visionaire, the NetJets King's Bishop (G1) winner.

"He was just a phenomenal physical; he was a man amongst boys to our eye, in the sale," said Eclipse Thoroughbred's Aron Wellman. "We waited two days to pull the trigger on him. We just couldn't find any chinks in his armor; physically, mentally, and pedigree wise. He handled it all and we're just thrilled to be associated with a horse like him. We hope he makes us look smart and not silly when it really matters."

Wellman said he has a relationship with the colt's family, since he was involved with Visionaire while working at Team Valor International.

"Visionaire was the first grade 1 winner that I was associated with during my tenure at Team Valor when he won the King's Bishop," Wellman said. "The family speaks for itself; Tapit speaks for himself. The reality is, all I care about is that you're interviewing our partnership after he wins a grade 1. Right now, it's a big gamble, and the only thing we proved today is that we were the only people who were willing to pay $2 million for him."

That such a powerful group of owners who band together in a partnership illustrates the maturity of the concept, said Wellman, whose Eclipse Thoroughbreds is a partnership entity.

"The power of the partnership is so prevalent in today's market. It's wild to think how far the partnership has come," he said, recalling partnership pioneer Cot Campbell of Dogwood Stable. "To think of how the partnership model has evolved, now we, a partnership company, are partnering with moguls—titans of the industry like Bob LaPenta, like Antony Beck, like Ron Winchell. It speaks volumes for the model … Hopefully, between all of us, we have plenty of good mojo."

"It was exciting," said Banke, adding she would not have sold the yearling had it been a filly. "I love the colt, I love his mother, I love his granddam. His family is terrific. If he does it on the track, which I think he shows every indication of doing, he will be a great sire. His breeding is impeccable."

While there was an electric atmosphere on the sale grounds Monday, the sale did experience a reduced number of buyers, particularly those from England and Ireland, due to the effects of COVID-19 restrictions.

Keeneland had worked diligently to assist those who could not be present, with enhanced digital tools that would assist the decision-making and bidding processes, and also had established protocols related to the pandemic that included social distancing and masking by participants. 

From 448 head cataloged in Book 1, Keeneland reported 216 horses sold for $86,445,000 at an average price of $400,208 and a $330,000 median. There were 14 horses sold for seven figures. The 130 horses that went unsold represented an RNA rate of 37.6%. In 2019, when Book 1 consisted of three days, 240 yearlings were sold through the first two sessions for an aggregate of $101,183,500.

Geoffrey Russell, Keeneland's director of sales operations, said consignors should be pleased with the outcome considering so many uncertainties within the pandemic-driven environment.

"Prices are a little bit less than last year, but given the current circumstances everybody should be very pleased," Russell said. "We're back to that great intensity of bidding again, dancing back and forth. The atmosphere and electricity returned, and it's wonderful."

"There was 30 minutes that didn't feel like COVID and that was nice," said Shannon Arvin, Keeneland president-elect and interim head of sales.

Russell said it was not surprising that the Book 1 market was driven by steep demand at the top.

"People who come to Book 1 are looking for … horses that tick all boxes, so they seem to forget about the next level," he said. "We have seen in the past they are also the ones that go out and perform at the highest level. That's the name of the game and we're very appreciative of the people here buying. It's a difficult year and we appreciate their support."

Consignor Arthur Hancock of Stone Farm said the buyer base was unforgiving for horses that had any soft spots, especially with veterinary issues.

"There are too many horses; they want the perfectly vetted horse it seems to me," Hancock said. "We've had a couple of disappointments that a few things that our vet said they wouldn't amount to anything. But they've got to tell their clients. Overall, we've had a good sale. But I think the pandemic is taking its toll. But it is what it is and you have to do the best you can."

There is no sale Tuesday, Sept. 15, with the auction resuming Sept. 16 and continuing daily through Sept. 25, with sessions beginning at 10 a.m. ET.