Keeneland January Sale Ends on Record Note

Keeneland brought down the curtain on its January Horses of All Ages Sale with a strong session Jan. 10 as the four-day auction ended with a record average, a record-tying median, and the highest total since 2008.

Keeneland reported 916 horses grossed $46,759,600, up 33.6% over the $34,996,000 paid for 909 horses in 2018. The cumulative average price of $51,048 exceeded the previous record of $50,182 set in 1988 and rose 32.6% over $38,499 in 2018, and the $20,000 median equaled the record established in 2014 and was up 66.7% from $12,000 in 2018. The 265 horses that did not sell represented an RNA rate of 22.4%, compared with 25.9% a year ago.

The sale-topper was champion Abel Tasman, purchased for $5 million by Coolmore's M.V. Magnier, a sale record for a broodmare prospect and co-highest price in sale history.

"This sale exceeded our expectations," said Keeneland president and CEO Bill Thomason. "The desire of buyers to compete at the highest levels and their commitment to invest in breeding and racing stock continue to create the momentum that flows through these sales. It's exciting for the entire industry."

The auction was fueled by stiff competition for successful fillies off the track, mares in foal to successful or fashionable unproven stallions, and short yearlings.

There were 47 horses sold for $200,000 or more, up from 28 last year.

"It's a very good market at the moment, and the depth of quality in this January sale catalog generated brisk trade well into the final day of the sale," said Keeneland vice president of racing and sales Bob Elliston. "In particular, we saw an exceptional group of yearlings and fillies off the track, led by Abel Tasman, whose sale created early energy. Credit goes to our consignors for bringing these outstanding individuals to market and for setting realistic reserves on their offerings."

Mark Taylor, whose family's Taylor Made Sales Agency was leading consignor with 116 horses sold for $10,832,400, said the sale reflected the current state of the market in which buyers are willing to pay a premium for quality.

"We continue to see a trend where the very top of the market is healthy, and anything with quality—if there's blue sky on the horizon that a mare or the foal she's carrying can even have the possibility of being a six-figure horse—people really embrace that," Taylor said. "When you get down to the ones in the bottom quarter to third of the market, you have to be very conservative with your reserves and you've got to know your product. We're being realistic."

"Everyone is looking for a 'Saturday horse,' which spurred the strong demand for yearlings," said Geoffrey Russell, Keeneland's director of sales operations. "Pinhookers were especially active during the January sale, having been outbid on weanlings at the (Keeneland) November (Breeding Stock) Sale."

Trade remained vibrant until the end, with Keeneland reporting 213 horses sold for $3,828,000 during the final session, for an average of $17,972 and a median of $8,000. During the comparable session in 2018, 258 horses grossed $3,251,300, for an average of $12,602 and a median of $6,000.

Top price Thursday of $230,000 was paid by Douglas Scharbauer for Classy Tune, a winning, 5-year-old daughter of Maclean's Music  consigned by Eaton Sales, agent. Out of Southern Swing, by Dixieland Band, she is a half sister to stakes winner Mr. Pee Vee and grade 1-placed Erinsouthernman.