Gross receipts for the 11-day sale rose 41.4 percent as 2,554 lots sold for $208,511,200 compared to last year’s 13-day sale when 2,929 horses brought $147,392,900. Keeneland surpassed 2010 November Sale totals on the fourth day of selling, Thursday, November 10. Cumulatively, average price of $81,641 increased 62.2 percent from $50,322 in 2010, while the median of $24,000 was up 41.1 percent from last year’s $17,000.
North American buyers, led by Benjamin Leon’s Besilu Stables and Frank Stronach’s Adena Springs, dominated the top tier of the market, accounting for 18 of the million-dollar sales. The strong participation among domestic buyers demonstrates a show of confidence in long-term investing and signals a rebounding of the American market.
Sales officials also acknowledged the significant role of the Breeders’ Cup Ladies’ Classic (G1) in this sale, which featured two previous winners (Royal Delta, 2011 and Unrivaled Belle, 2010 [sold for $2.8 million]) and three other Grade 1 stakes-winning participants (champion Blind Luck [sold for $2.5 million]; Malibu Prayer [sold for $2 million]; and Life At Ten [sold for $1.95 million]).
The November Sale was enhanced by two premier dispersals – Edward P. Evans’ Spring Hill Farm and Prince Saud bin Khaled’s Palides Investments N.V., Inc. Royal Delta was consigned as part of the Palides dispersal, while 2007 Ashland Stakes (G1) winner Christmas Kid, who commanded the sale’s second-highest price of $4.2 million, as well as the record-priced weanling filly, were offered by the Evans dispersal.
“The great success of the dispersal sales reinforces Keeneland as the best platform for showcasing top-class bloodstock,” said Keeneland Vice President of Sales Walt Robertson. “The dispersals created global excitement and infused the sale with an energy and momentum that carried throughout the remaining sessions. Our focus has centered on the recruitment of quality race mares, and that strategy has really reaped rewards. And the strong market gives sellers the confidence to offer those types of mares at Keeneland.”
The Evans and Palides dispersals afforded horsemen the unique opportunity to buy race mares and fillies with pedigrees not generally available in the commercial market. Demand for these highly-prized individuals fueled record results.
With Lane’s End serving as agent, the Evans dispersal sold 170 lots for $55,820,000 to become the highest-grossing Thoroughbred dispersal sold at public auction in North America. When combined with the 50 yearlings sold by the Evans estate for $6,527,000 at the September Yearling Sale, the dispersal has sold a total of 220 lots for $62,347,000. Those totals shatter the former North American dispersal record held by Newstead Farm, which sold 62 lots for $46,988,000 in November 1985. The previous Keeneland record was set by the Nelson Bunker Hunt dispersal, which sold 580 horses for $46,912,800 at the 1988 January Horses of All Ages Sale.
Lane’s End, agent for the Evans dispersal, among others, was the sale’s leading consignor, selling 371 horses for $66,220,500, a Keeneland sale record for gross sales by a consignor.
Palides Investments N.V., Inc. sold 30 horses for $16,939,000. The sale-topping Royal Delta, purchased for $8.5 million by Miami businessman Benjamin Leon, established a Keeneland sales record for a horse in training, surpassing the $6.1 million paid by Aaron Jones for graded stakes-winner Half Ours at the 2006 November Sale.
“Mr. Evans and Prince Saud represent what is best in the Thoroughbred industry,” said Keeneland Director of Sales Geoffrey Russell. “Racing and breeding was their lifelong passion. They both loved their horses and built successful family lines. For that reason, their fillies and mares are considered ‘collector’s items’ that have worldwide appeal. It is a fitting tribute to both gentlemen that their horses were so highly sought after by the Thoroughbred community.”
The breadth and depth of pedigrees and types offered at the November Sale appealed to a globally diverse contingent of buyers. Active trade from domestic buyers combined with strong foreign participation from buyers representing Argentina, Brazil, Chile, Venezuela, Mexico, Saudi Arabia, Qatar, Turkey, Japan, Australia, South Korea, Azerbaijan, India, the Philippines and Canada, among others, to fuel competitive bidding.
“Our marketing efforts are key building blocks in achieving success,” Russell said. “The sales staff travels extensively during the off season to establish and nurture long-term, sustainable relationships with horsemen in both traditional and emerging Thoroughbred racing markets.”
Leon, a relative newcomer to the Thoroughbred industry who reported that he is working to build a top-class breeding program, acquired nine horses – seven of them for $1 million or more – for a total of $22,400,000 to rank as the sale’s leading buyer. In addition to his purchase of Royal Delta, Leon also paid a record $2.6 million for the weanling half-sister to Horse of the Year Saint Liam. The previous North American record for a weanling filly of $2.5 million was held by Magic of Life, sold as part of the Newstead Farm dispersal in 1985. Isla Canela, a weanling filly by Gone West out of Islington (IRE), sold for $2.4 million at Keeneland’s 2006 November Sale.
Leon also bought the filly’s two half-sisters, paying $3 million for Quiet Giant, and $2 million for Dance Quietly, both stakes winners sold as racing or broodmare prospects. He also went to $2 million to acquire Grade 1 winner Malibu Prayer, in foal to Smart Strike. All were consigned as part of the Evans dispersal.
Stronach made five $1 million purchases during the sale, highlighted by multiple graded stakes winner Delta Princess, dam of Royal Delta, in foal to Distorted Humor, for $2.6 million, from the Palides dispersal, and Grade 1 winner Cat Moves, in foal to Malibu Moon, for $2.4 million, from the Evans consignment. Additionally, Stronach paid $1.5 million for a weanling half-sister by Henrythenavigator to Horse of the Year Zenyatta and Grade 1 stakes winner Balance. She was consigned by Select Sales, agent.
Irish-based Coolmore Stud purchased Christmas Kid, in foal to Bernardini, for $4.2 million from the Evans dispersal.
“We’ve seen some very encouraging, positive results from sales this year,” said Robertson. “We appreciate the loyalty and hard work on the part of our consignors and that of our buyers and their staffs. We look forward to this momentum carrying forward into next year, beginning with the January Horses of All Ages Sale on January 9.”
During Thursday’s final session, Keeneland sold 157 horses for $803,800, for an average of $5,120 and a median of $3,500
Baccari Bloodstock paid the day’s highest price of $27,000 for a weanling colt by City Zip out of the stakes-winning Yes It’s True mare Peisinoe. The colt was consigned by Royal Pegasus.
