Recent Trends Expected to Continue at Keeneland

With snow blanketing the ground and an arctic blast dropping temperatures to below freezing, Central Kentucky offered an apt setting for Keeneland's January horses of all ages sale that ushers in the 2017 sale season.

The sale, which has 1,893 horses cataloged, begins Jan. 9 and runs through Jan. 13, with daily sessions beginning at 10 a.m. ET. The offerings consist of 726 broodmares, 147 broodmare prospects, 732 yearlings, 281 horses of racing age, and seven stallions and stallion prospects.

Situated on the calendar during a month in which the skies are usually gray, the air cold, and frozen ground, the January sale can test the resiliency of consignors and buyers as they go about the necessary tasks of showing and looking at the bloodstock.

On Jan. 7, when most consignors will begin showing horses to prospective buyers, a morning low of 6 degrees and highs in the low 20s were forecast by the National Weather Service. Overnight lows are 10 and 13 for Saturday and Sunday before yielding to highs in the upper 30s for the Monday opener.

But most are conditioned and prepared for the elements and the inclement weather is expected to have minimal impact, according to Tom Thornbury, Keeneland's associate director of sales.

"It is frigid, but horse people are hardy folks," Thornbury said. "Folks will have to bundle up. Horses like the cold. January is always more relaxed, as there are fewer numbers (cataloged) and the (inspection) process is more easily accomplished."

To help the comfort level of sale participants, Keeneland will have enclosed shuttles and buses roaming the barn area, and the sales company will provide free coffee during the mornings. Also, the Limestone Café in the sales pavilion and track kitchen will be open for breakfast and lunch.

"The show goes on," Thornbury said.

Consignor Martha Jane Mulholland of Mulholland Springs Farm said adverse weather conditions can actually prove to be a positive at a horse sale in the form or reverse psychology by buyers.

"Some people may be concerned about the weather but I'm not," Mulholland said. "In my experience everybody shows up thinking they will find a bargain (during inclement weather) and it makes for a wonderful sale."

With more than 100 additional horses cataloged this year compared with 2016, Keeneland director of sales operations Geoffrey Russell said expectations are for a continuation of the trend toward greater demand at the upper end of the market and less buyer interest in horses that don't fit all the criteria.

"It will be a continuation of the November sale, with the horses that meet the market selling very well," Russell said.

Russell said the addition of some 40 "short yearlings"—foals of 2016 that turned 1 Jan. 1—and more than 100 broodmares to this year's catalog are a reflection of breeders and consignors "taking advantage of the current market."

This year's sale is coming off a 2016 edition, in which 1,040 horses grossed $35,463,000, up less than 1% from the 2015 aggregate for 948 horses, with the $34,099 average down 8.4% from the $37,242 figure the previous year, marking the fourth consecutive decline in average. The 2016 median price of $11,000 represented a decline of 31.6% from the $16,000 median in 2015.

There are no dispersals this year, unlike 2016 when three of the top four prices were paid for horses from the dispersal of the late Sarah Jane Leigh's stock, consigned by Holly and Craig Bandoroff's Denali Stud agency.

The sale-topper was grade I-placed Summer Solo, with Virginia Kraft Payson going to $700,000 for the Arch mare, who was carrying a Ghostzapper   foal. Payson also bought Summer Solo's juvenile half sister, the More Than Ready filly Summer Sweet, for the 2016 auction's second-highest price of $550,000.

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"It's a typical January sale, since we have no dispersals that usually give it a little flavor," Russell said.

In addition to being one of the last opportunities for breeders to purchase breeding stock prior to the beginning of the breeding season, the smaller size of the January sale is appealing to consignors, Mulholland said.

"Because the January sale is smaller than November, it's an opportunity for a good horse to stand out," the consignor said.

As of Jan. 6, there were 364 head withdrawn from the January sale.

Broodmares in the catalog are in foal to 172 stallions, including American Pharoah  , Awesome Again  , Bernardini  , Bodemeister  , Candy Ride  , City Zip  , Declaration of War  , Distorted Humor  , Gemologist  , Ghostzapper, Honor Code  , Into Mischief  , Kitten's Joy  , Liam's Map  , Malibu Moon  , Medaglia d'Oro  , More Than Ready  , Orb  , Pioneerof the Nile  , Shanghai Bobby  , Speightstown  , Tapit  , Tapizar  , Tonalist  , Twirling Candy  , Uncle Mo  , Union Rags  , Verrazano  , and Violence  .

Among the 165 sires of "short yearlings" are Arch, Awesome Again, Bodemeister, Cairo Prince  , Candy Ride, City Zip, Declaration of War, Dialed In  , Distorted Humor, Exceed And Excel, Ghostzapper, Giant's Causeway  , Into Mischief, Kitten's Joy, Lemon Drop Kid  , Malibu Moon, Medaglia d'Oro, More Than Ready, Orb, Pioneerof the Nile, Scat Daddy, Shanghai Bobby, Tapit, Tapizar, The Factor  , Uncle Mo, Union Rags, Verrazano, and Violence.