Competitive Market Continues at Keeneland

As the Keeneland November Breeding Stock Sale moved into Book 3 Nov. 12, there continued to be fervent demand for the better mares and foals on offer.

"It's blown me out of the water; it's absolutely amazing," said Becky Thomas of New York-based Sequel Bloodstock and Sequel Stallions, noting she would be in Lexington longer than initially planned. "I've already changed my travel reservations from Friday to Sunday. I was thinking I only needed to go through Book 3, but now I'm going through Book 4 and I'm planning to come back in January."

During the fourth session, Keeneland reported 227 horses sold for gross receipts of $13,153,000, an average price of $57,943, and a $42,000 median. The RNA rate was 24.3%. On Day 4 in 2019, Keeneland reported 272 head averaged $54,968 on aggregate sales of $14,951,200, with the median unchanged at $42,000.

The numbers so far show the resiliency of the Keeneland sale that is being conducted with strict COVID-19 protocols.

Cumulatively, 777 horses have grossed $120,262,000 for an average price of $154,777, a $90,000 median, and an RNA rate of 24.5%. Through four sessions a year ago, Keeneland had sold 908 horses for $154,833,200, averaging $170,521 with a median price of $100,000.

The session was topped by three individuals sold for $300,000 each: Hip 1149, Quality Heat, a 3-year-old Quality Road  filly purchased by Springbord Farm from Bluewater Sales, agent; Hip 1183, Sex Symbol, an Uncle Mo  mare bought by Green Lantern Stables, Patrick Masson, agent, from Bluewater Sales; and Hip 1269, a Mendelssohn  weanling colt acquired by OXO Equine from Four Star Sales.

Thomas, in search of mares who would fit the New York incentive program that recently amended its requirements on which in-foal mares would automatically qualify, said the market was more competitive than she and her clients thought it would be.

"It's been tough," Thomas said. "I thought we had enough money to buy what we wanted, but we don't. It's very competitive for what we're trying to buy. We've bought four mares from $90,000 to $425,000. I'm trying to get something with upside. Young mares in foal to first-year stallions are what's very sought after."

Another buyer who found the going tough Thursday was Kevin McKathan, buying weanlings to be resold.

"I've bought three and been outbid a lot," McKathan said. "The real nice physicals, you have to pay up for them. Your middle and lower-end horses are hard to move."