The final yearling sale in North America for 2023 concluded Oct. 26 with solid results, with a Bolt d’Oro colt highlighting the last session after realizing $330,000 from Karl Keegan of Lucan Bloodstock. Results of the Fasig-Tipton Kentucky October Yearling Sale remained in line with market trends throughout the year, finishing with a $51,120,000 gross for the past four days of selling.
“We are going to pinhook the horse; he is for a group of partners,” Karl Keegan said. “We are trying to stay in the upper echelon. It seems like the direction all the sales, especially the 2-year-old sales, are moving towards. We are trying to buy good physicals by good stallions, and hopefully, it works out come springtime.”
Knockgriffin Farm consigned the colt to the fourth session as Hip 1575, a pinhook for his consignor; he was initially purchased for $145,000 at the Keeneland November Breeding Stock Sale last year. His connections offered him at the Saratoga Sale in August, where he failed to sell at $240,000.
“This colt has an outstanding physical; he was in Saratoga and looked like maybe he went through a bad patch,” Keegan recalled. “Knockgriffin brought him back to Kentucky, gave him some time, and he really blossomed and showed himself well this week. He’s an exciting prospect for Lucan Bloodstock, and I’m privileged to have some guys who stepped up to spend some money to support us.”
Karl Keegan at the sale
The bay colt was bred in Kentucky by Sun Valley Farm out of the Curlin mare Whirl, a half sister to multiple grade 2 winner Strike a Deal , a millionaire earner, and full sibling to Spinster Stakes (G1) second Pacific Wind , a winner in the Ruffian Stakes (G2).
Keegan also purchased a Tom’s d’Etat Thursday for $80,000 for the same partnership, commenting, “The Tom’s d’Etat has a beautiful physical too. I don’t know about the stallion, but he stands at WinStar, and they are no slouches at picking stallions. He’s a horse with an outstanding physical, so hopefully, when we get him home, he’s everything we think he is.”
The market for the upper crust proved challenging, as Keegan was in the running for a few of the earlier pricey individuals but was relentless in his bidding to acquire the Bolt d’Oro colt, the single horse he didn’t want to leave the sale without.
“The market was extremely strong for the horses I was on,” Keegan said. “I came up to Kentucky trying to buy these physicals to be in the upper echelon come 2-year-old sales season, and those horses have been hard—the upper end of the market.”
An Into Mischief colt realizing $310,000 from astute bloodstock agent Mike Ryan ended up the second-highest-priced offering Thursday.
The Denali Stud consigned Hip 1482 made his first appearance in the sales ring Thursday, seeing multiple parties bid until Ryan landed the final blow to add the colt to his collection. My Meadowview bred the bay in Kentucky out of the grade 3 winning Tin Type Gal , who heralds from the deep family of grade 1 winning millionaire Miss Shop and her dam Shopping, dam of grade 2 winning sire Trappe Shot .
Ryan made two purchases on the fourth day for a gross of $560,000 to be the session’s leading buyer. Gainesway sold 10 of their 13-horse draft for a gross of $867,500, at an average of $86,750, to be the day’s leading seller.
The Into Mischief colt consigned as Hip 1482 in the ring at the sale
“We are having a good sale and are fortunate we had some good horses in here, and they are selling well,” Conrad Bandoroff, vice president of Denali Stud, said.
Bandoroff also sold the third-highest-priced offering on Day 4, a Curlin filly from the family of grade 1 winner Drill , for $275,000, to West Bloodstock, agent for Repole Stable. The filly out of Tapping Pearl was making her first appearance in the sales ring for breeder Stonestreet Thoroughbred Holdings.
“I am happy to report a very successful 2023 sale; the results were very similar to last year and 2021,” Fasig-Tipton’s president and CEO Boyd Browning said. “It’s pretty remarkable, considering everything that has happened in our world, from the economy to some of the challenges our industry has faced. To have 1,600 horses on offer over the last four days, be standing in the back walking ring with five or 10 horses left to go, and the place is still full of people bidding. It demonstrates the resilience of our industry and the quest to try and find another good horse.”
Thursday’s fourth and final session closed with 259 horses selling of the 327 to go through the ring for an $11,356,000 gross, down 17.4% over 2022, and resulting in a $43,846 average, down 6.9%, while the median rose 20% to $24,000. There were 68 horses who failed to attain their reserve to represent an RNA rate of 20.8%.
“The market is incredibly harsh right now; if you don’t have the pedigree, physical, or vetting, you get crucified,” Lexington agent and consignor Jacob West said. “I feel bad for the breeders; I know how much work it takes to get these horses up to the ring, but it’s the unfortunate side of our business right now. It’s incredibly polarizing, and I don’t see it changing for the foreseeable future.”
The final session of the 2022 sale saw 292 yearlings traded of the 336 on offer for gross receipts of $13,751,500, recording an average price of $47,094 and a $20,000 median. An RNA rate of 13.1% represents the 44 horses that did not sell.
Thursday saw 11 yearlings bring $200,000 or more, with the top 10 horses selling to nine distinct buyers, by sires: Bolt d’Oro (Hip 1575—$330,000), Into Mischief (Hip 1482—$310,000), Curlin (Hip 1441—$275,000), Medaglia d’Oro (Hip 1360—$270,000), Volatile (Hip 1222—$250,000), Justify (Hip 1352—$230,000), Gun Runner (Hip 1289—$230,000), Malibu Moon (Hip 1348—$225,000), Army Mule (Hip 1260—$215,000), and Tapit (Hip 1582—$200,000).
Total sales for the past four days include 1,064 yearlings sold of the 1,355 through the ring for a gross of $51,120,000, down 7.8%. An average price of $48,045 declined 4.6% over the previous year, and the median dropped 4% to $24,000. A total of 291 yearlings failed to meet their reserve price, representing a 21.5% RNA rate.
Boyd Browning at the Fasig-Tipton Kentucky October Yearling Sale
“We are pleased overall; there was a slight decline in the average and gross, but considering the evolution and growth of this sale over the last five or 10 years, it’s remarkable,” Browning commented. “The good news for all consignors is, if you have a late maturing horse or one with a little bit of an issue, you can bring that horse regardless of the pedigree or the perceived value, and the sale will support that 100%. There was a deep buying population this year, similar to what we have seen recently, and a continued acceptance of this sale from the buyers.”
Last year’s sale concluded with 1,100 yearlings traded of the 1,353 to go under the hammer for a $55,426,500 gross, recording a $50,387 average and a median of $25,000. An RNA rate of 18.7% represents the 253 yearlings who failed to change hands.
“The first day of the sale, we bought a Quality Road filly for $3,000 and a Gun Runner colt for $42,000; they were horses the market didn’t perceive to be what they wanted and slipped through the cracks,” West said. “We had done our homework and due diligence and were there to pick them up. I’d say there will probably be some good runners coming out of this sale; there is every year, and it doesn’t have to be the sales topper.”
Session 4 leading consignor
A Justify colt, consigned by Hunter Valley Farm as Hip 1023, topped the entire sale after agent Jessie Longoria, agent for Kiehne and Brunson, paid $725,000 for the chestnut. Andre Lynch and Pat Durtschi bred the colt in Kentucky, who comes from the family of Horse of the Year Azeri.
Read More: Longoria Strikes Again for $725K Justify Colt on Day 3
Agent Mike Ryan closed out the October sale with 10 purchases for receipts of $2,195,000 to be the leading buyer for the past four days. Perennial leading consignor Taylor Made Sales sold 80 of their 107 horse draft for final receipts of $5,414,500, at an average of $67,681 to be the leading consignor.
Browning added: “This sale has established itself as a very legitimate sale that you have to attend and participate in whether you are a buyer or seller, and we look forward to the continued graduates coming from this sale.”
Fasig-Tipton will next conduct “The Night of the Stars” Nov. 7 after Breeders’ Cup weekend. The premier breeding stock sale has cataloged 269 high-quality pedigrees for the single-session sale, which begins at 2 p.m. ET at the Newtown Paddocks in Lexington.
