Keeneland sale slows more but maintains rise over 2010

LEXINGTON, Ky. - As Keeneland's November breeding stock sale neared its end, prices on its 10th day dropped off more steeply compared with last year's equivalent session, even though the auction overall was well up over 2010's cumulative figures.

Wednesday's session-topper was the $105,000 broodmare Five Gold Rings, a Touch Gold mare who is a three-quarter-sister to graded winner Yarrow Brae. Cataloged in foal to Indygo Shiner, she sold to Southern Equine Stables from the Lane's End consignment. Five Gold Rings, a 6-year-old, is out of the Miswaki mare Bally Five.

For the session, 233 horses sold for a combined $2,122,800. That was 15 percent lower than last year's total for 251 horses. The average price fell 8 percent, from $9,909 to $9,111, and the median dropped 25 percent, from $6,000 to $4,500. But buy-backs also fell significantly, falling from last year's 21 percent to just 13 percent on Wednesday.

Still, the lengthy sale continued to pad its overall advantage over last year's market. Through the 10th session, the auction had sold 2,397 horses for $207,707,400, a 44-percent gain on last year's gross at the same point. The average price was running 45 percent ahead of last year at $86,653, and the median also continued to maintain a 14-percent lead over last year's figure at $25,000.

Buy-backs were nearly level, but dipped slightly, from 20 percent in 2010 to 19 percent.

The Keeneland November sale was to continue through Thursday with sessions starting daily at 10 a.m.