Auction Season Ends With Market Stability

The marathon Keeneland November mixed sale that concluded Nov. 20 brought down the curtain on the 2016 public auction season with slight across-the-board declines in significant categories, signaling an overall stable market.

According to BloodHorse MarketWatch data, there were 47 auctions in 2016 in which Thoroughbreds were sold for gross receipts of $909.9 million, down 3.4% from the $942.3 million aggregate at 49 sales in 2015.

By the numbers, this is how 2016 compared with 2015:

—The 18,679 offered this year was one-tenth of 1% below the 18,871 head from which buyers had to choose last year,

—The 5,077 horses that failed to find new homes represented a 27.2% buyback rate, compared with 25.5% in 2015 when 4,819 went unsold.

—There was only a $165 decline in the cumulative average of $66,895 in 2016 from the 2015 average price of $67,060.

—The median for all horses sold was $20,000 this year, down $2,000 from the $22,000 figure a year ago

With $523.6 million in receipts from its three auctions, Keeneland had 57.5% market share in 2016, followed by Fasig-Tipton’s $221.2 million gross for 24.5% share. Only Fasig-Tipton had an increase in total revenues over last year, from $221.2 million to $222.9 million. Among the other major sales companies, Barretts saw its total fall 19.4%, Ocala Breeders' Sales Company was off 11.6%, and Keeneland’s aggregate declined 2.3%.

OBS’ figures were impacted by consolidation of its annual October mixed sale this year with next January’s mixed auction, as a result of a major facility renovation underway at the Florida venue. OBS announced Nov. 23 that it would only conduct one mixed sale in 2017 and was moving its annual yearling sale from August to October.

MITCHELL: OBS Moves Yearling Sale to October

With gross sales of $95.1 million—790 head sold from 1,088 offered—Taylor Made Sales Agency was leading North American consignor in 2016, followed by Lane’s End, with 560 sold from 686 offered for a gross of $56.1 million.

The top price of $3.8 million for a broodmare sold this year was paid by Mandy Pope’s Whisper Hill Farm for Unrivaled Belle, the 2010 Breeders' Cup Ladies Classic (gr. I) winner in foal to leading sire Tapit  . The 10-year-old daughter of Unbridled’s Song was bought out of the Eaton Sales consignment to the Keeneland November breeding stock sale.

WINCZE-HUGHES: Unrivaled Belle to Pope for $3.8 Million

The year’s leading broodmare or racing prospect sold at public auction was three-time grade I winner Curalina, purchased for $3 million by Japan’s Shadai Farm from the Bluewater Sales consignment of Meg and Mike Levy at the Fasig-Tipton November sale.

BLOODHORSE STAFF: Shadai Lands Curalina for $3 Million

The top price of $3 million for a yearling sold in North America this year was for a Scat Daddy colt who is a half brother to multiple champion Beholder, along with grade I winner and sire Into Mischief  . The colt was bought by M. V. Magnier on behalf of Coolmore Stud interests from Clarkland Farm at the Keeneland September yearling sale.

MITCHELL: Beholder's Half Brother Brings $3 Million

Two high-powered racing entities joined forces to buy the year’s top-priced juvenile when Woodford Racing and Robert LaPenta went to $1.8 million for a son of Tapit-Bethan, by Giant's Causeway  , consigned by Old South Farm at the Fasig-Tipton March sale of 2-year-olds in training.

BLOODHORSE STAFF: Tapit Colt Tops F-T Sale at $1.8 Million

Magnier also paid $1.45 million for the year’s top-priced weanling, a son of War Front   consigned by Hill ‘n’ Dale Sales Agency to the Keeneland November sale. The colt is out of Drifting Cube, a sister to group II winner and Coolmore Australia stallion Rubick and from the family of Australian group I winner and leading sire Redoute's Choice.