Keeneland January sale: Average rises, but median and gross decline

LEXINGTON, Ky. – The Keeneland January horses of all ages sale concluded its four-day run Thursday evening with an improved average and small decline in the median in what sale officials described throughout the week as a healthy marketplace.

With $650,000 Ancient Peace, sold earlier in the week in Book 1, leading the way, Keeneland reported 962 horses sold – comprising in-foal broodmares and broodmare prospects, yearlings, horses of racing age, and stallions – for total gross receipts of $45,408,300. In last year's four-session sale, also arranged into two two-session books, 1,013 horses sold for $46,341,100.

This week's average price was $47,202, rising 3 percent from $45,746 last year. The median was $19,000, dropping 5 percent from last year’s record-equaling $20,000.

Five horses brought $500,000 or more – all in Book 1 – matching last year's number to meet that threshold. However, last year the top two horses sold for $750,000 and $700,000. The rise in cumulative average price thus shows good activity in a cross-section of the marketplace at this sale. The median is considered an important figure in analyzing overall market health, as it also provides insight into various segments of the marketplace rather than being influenced by outlying prices at the top of the market.

The cumulative buyback rate was 23 percent, compared to 19 percent.

“The metrics are comparable to last year’s record sale, and to be on par with a record sale is incredibly healthy,” said Tony Lacy, Keeneland’s vice president of sales.

“Demand for quality – young and proven mares and short yearlings – was as strong as ever,” Lacy continued. “There was a little adjustment in the market with minor corrections in the middle and lower ends that are normal and acceptable. When you look at the global economic head winds, there is every reason why we should be in a more challenging environment, but we’re not. Everyone is coming out of this week with a lot of confidence going into breeding season.”

Ancient Peace, a War Front filly who won her maiden less than two weeks ago, was one of the final horses entered in the catalog, as part of a group of supplemental entries announced Jan. 5. Her entry proved a savvy move, as she pushed the bidding to $650,000 as the penultimate horse through the ring Tuesday night. Hunter Rankin signed the ticket on behalf of Travis Boersma's Boardshorts Stables

"We're building the stable, we're trying to get something going," Rankin said. "We think she's a really good foundation horse."

Rankin added that immediate plans had not been determined for the filly, and he did not name a trainer to which she might go.

Ancient Peace, out of the Grade 2-winning A.P. Indy mare Deceptive Vision, was bred by the iconic Sam-Son Farm, which is winding down the long process of dispersing its stock. Ancient Peace was purchased for $180,000 by bloodstock agent Mike Ryan at the 2021 Fasig-Tipton Saratoga selected yearling sale. The filly made her career debut Dec. 3 on the Del Mar turf, finishing sixth. She stepped forward to win her next outing Dec. 30 at Santa Anita, rolling by 4 1/4 lengths on turf for trainer Graham Motion.

The January sale provided an opportunity for Ryan to showcase the filly, with Indian Creek handling her consignment. Her potential versatility, both for racing and breeding purposes, caught Rankin's eye.

"I talked to Graham before the sale, and he said she trains just as good on dirt," Rankin said. "With War Front out of an A.P. Indy mare, you could have either one."

Deceptive Vision is out of graded stakes winner and Canadian champion Eye of the Sphynx, whose runners include Queen's Plate winner and Canadian champion Eye of the Leopard and stakes winner Hotep, both full siblings to Deceptive Vision.

Eye of the Sphynx also produced stakes winner Desert Isle and the winner Fun in the Desert, dam of Woodbine Oaks winner and Canadian champion Desert Ride. It is the extended family of Grade 1 winner and Canadian Horse of the Year Quiet Resolve.

Although there were appearances by some international outfits, including European and Japanese interests, the top of the buying bench was generally dominated by diverse domestic interests seeking young broodmares or broodmare prospects.

The second-highest price of the sale was $600,000 England's Rose, a Grade 1-placed stakes winner purchased by bloodstock agent James Schenck on behalf of Gigi Lazenby. The new owner indicated that the English Channel mare, who was offered as a racing or broodmare prospect by consignor Lane's End, would be retired and bred as part of launching a commercial operation.

"We’d like to have four or five mares," Lazenby said. "We’re really interested in selling [the resulting offspring]. I’m happy with this mare, and we’ve got a lot of stallions to talk about. I’m just glad I’m in a position at this time to invest back into this community. I love it.”

Rounding out the top prices of Keeneland January, the young broodmare Evocative sold for $550,000, with agent Kerri Radcliffe purchasing her on behalf of Coolmore, which intends to keep her in America; graded stakes-winning turf sprinter In Good Spirits sold for $550,000 on Tuesday to West Bloodstock, as agent for Repole Stable; and stakes-placed Ack Naughty, dam of last month's Grade 2 Los Alamitos Futurity winner Practical Move, sold for $500,000 on Monday to Chester and Mary Broman.

Ack Naughty, like Ancient Peace, was a supplemental entry, giving connections the opportunity to capitalize on recent racing activity.

“The supplementary aspect allows us to be flexible and responsive to our clients while accommodating those who want to capitalize on current updates,” said Cormac Breathnach, Keeneland’s director of sales operations. “The results speak to the quality of the main catalog. The supplements provide a bit of sizzle and momentum going into the next day of selling.”

The aforementioned Evocative's first foal, a filly by Quality Road, led all of the yearlings in Book 1, selling for $450,000 to West Bloodstock, as agent for Robert and Lawana Low. Bedouin Bloodstock consigned the mother and daughter, as agent, and that operation's Neal Clarke said the filly's presence in the barn helped to advertise her dam, who is a half-sister to graded stakes winner and prominent producer Justwhistledixie, among others.

"We always felt that foal was special," Clarke said. "For her first foal to be so special, we knew the market would recognize that and it would clearly help the mare. The mare was gorgeous, but the filly pushed her up there in everyone’s esteem."

Evocative's filly immediately followed her pricey dam through the ring, giving agent Jacob West insight into what the price might be as he waited to bid on behalf of the Lows.

“That is right about what we thought she would bring," West said. "I thought [this filly] was outstanding. Physically, she is unbelievable. I was blown away by the [dam]. Whoever bought her is going to breed her to a top stallion, so there is [residual value] coming in the pipeline."

The next-highest prices for short yearlings, following Evocative's filly, were a $400,000 colt by Horse of the Year and white-hot young sire Gun Runner, purchased by Sycamore Hall Thoroughbreds; and a pair of colts by classic sire Uncle Mo, purchased for $340,000 by Castleton Way and $335,000 by Jackpot Farm and Corrine and Bill Heligbrodt, respectively.

For hip-by-hip results from the Keeneland January sale, the penultimate auction in the North American mixed sale season, click here.

This portion of the calendar wraps up with the Fasig-Tipton Kentucky winter mixed sale on Feb. 6-7, the final opportunity to secure a broodmare prior to the start of breeding season the following week, or the final opportunity to secure a short yearling to pinhook later in the year.