Keeneland September: $1.6 million Quality Road colt tops Book 1

LEXINGTON, Ky. – A $1.6 million Quality Road colt led energetic trade as the Keeneland September yearling sale’s marquee Book 1 portion finished with gains on Tuesday.

Quality Road, Into Mischief, and War Front each sired a pair of seven-figure yearlings, and American Pharoah, City of Light, Curlin, Tapit, and Uncle Mo each had one seven-figure yearling. A total of 208 yearlings sold for a gross of $90,622,000 over two days.

Last year’s Book 1 in a pandemic-hampered marketplace finished with 209 horses sold for $85,215,000 before any private sales were factored in.

“It was a great couple of days,” said Keeneland president Shannon Bishop Arvin, who is leading a new sales staff less than a year into her tenure.

Tony Lacy took over as Keeneland’s vice president of sales this year, and Cormac Breathnach as director of sales operations, after former director of sales operations Geoffrey Russell retired from his full-time position after 25 years with Keeneland.

“We’re really excited about the results, about the feeling, about the excitement on the grounds,” Arvin said.

Keeneland reported Book 1’s average to be $435,683, rising 7 percent from $407,727 in 2020. The median was $350,000, up 4 percent from $335,000.

The cumulative buyback rate was 34 percent, compared to 40 percent last year.

W.S. Farish Jr. of Lane’s End Farm and affiliated Woodford Racing signed the ticket for the sale-leading Quality Road colt on behalf of a partnership with West Point Thoroughbreds. Barbara Banke of Stonestreet Stables, who bred the colt and consigned him via Eaton Sales, said she will join the partners for a share, as is her common practice when selling colts.

“I am excited about that,” Banke said. “He was on my list of favorites.”

Farish said that “a few others” may eventually join the partnership, and that Shug McGaughey will train the new acquisition.

The colt is out of the remarkable broodmare Catch the Moon, an unraced Malibu Moon mare who has produced four graded stakes winners by four different sires. That quartet includes Grade 1 winner Girvin (by Tale of Ekati) and Grade 3 winner Midnight Bourbon (Tiznow), who has continued to enhance the family’s reputation this year with runner-up efforts in the Preakness and Travers. He was beaten just a neck by champion Essential Quality in the Travers.

The sale-topper keyed big days for sire Quality Road and for breeder Stonestreet. Quality Road, who stands at Lane’s End, was also represented by a $1.15 million colt sold to Mayberry Stables on Tuesday. Later, his son City of Light was represented by a first-crop colt sold for $1.05 million to bloodstock agent Jacob West for Repole Stable and St. Elias.

This marks the third consecutive year that Stonestreet has bred and raised the highest-priced colt in Book 1. It was also represented by a $1.3 million Tapit colt sold to Coolmore on Tuesday, this one coming from the consignment of Gainesway.

Gainesway also had an outstanding Tuesday, with Stonestreet’s yearling joining a pair of seven-figure Gainesway homebreds – a $1.3 million Tapit colt purchased by Whisper Hill Farm, and a $1.2 million War Front filly purchased by Seahorse Stables. Powered by that trio, Gainesway finished as Book 1’s leading consignor overall.

Two-time reigning leading sire Into Mischief finished as Book 1’s leading sire by gross, led by a $1.35 million colt sold to Winchell Thoroughbreds on Monday, and a $1.25 million filly purchased by Spendthrift Farm, which stands the stallion, on Tuesday.

The $1.4 million American Pharoah filly who led Monday’s opening session is also headed to McGaughey’s barn for buyer Joe Allen. Rounding out the seven-figure lots were a $1.1 million Uncle Mo filly purchased by Courtlandt Farm on Monday, and a $1 million War Front colt sold to Lynnhaven Racing on Tuesday.

Sale picks things up on Day 2

Yearling sale catalogs are arranged alphabetically by dam name, beginning on a randomly drawn letter. While one session is, theoretically, not designed to be any stronger than another, there is a common perception that the first day of an auction may be the softest, with momentum taking time to build as bidders feel the market ceiling out. Breeder and owner Mandy Pope felt this year’s Keeneland September Book 1 held up to that perception, finding herself selling low on Monday and buying high on Tuesday.

“I would say the market is much, much stronger [Tuesday] than yesterday,” Pope said. “My two were selling yesterday – I wish they were today!”

Keeneland debuted the RNA Reoffer program at the September sale. Yearlings who failed to meet their reserve during the opening session could be entered for a second opportunity in the ring following the second session.

By the deadline to announce intent to participate on Monday evening, seven yearlings were entered for the RNA Reoffer, with Keeneland vice president of sales Tony Lacy saying others had expressed interest but had made private deals on Monday. Notably not among the entries was a Quality Road half-brother to four graded stakes winners, who was a buyback with a high bid of $1.9 million. He is expected to be raced by breeder Clearsky Farm.

“When you’ve got some higher RNAs, that’s okay, because these are people that want to race, and they like their horses,” Lacy said. “And that’s not a sign of weakness – that’s actually a sign of strength.”

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By Tuesday evening, three of the RNA Reoffer entries had also been privately sold, leaving four to take a second trip through the ring. Of those, one sold, as agent Jesse Hoppel went to $150,000 for a More Than Ready colt who had been a $145,000 buyback on Monday.

City of Light colt goes for $1M

City of Light emerged with the breakout horse for a first-crop yearling sire in Book 1 of the Keeneland September sale, as he was represented by a colt sold for $1 million to Jacob West, as agent for Repole Stables and St. Elias.

“City of Light was one of the most brilliant horses we have seen on the track arguably in the last 10 years, and it looks like he is passing on that athleticism,” West said. “This horse was unbelievable. From the second we saw him, the team fell in love with him.”

City of Light, who stands at Lane’s End, won five graded stakes, with Grade 1 triumphs in the 2017 Malibu, 2018 Triple Bend, 2018 Breeders’ Cup Dirt Mile, and 2019 Pegasus World Cup.

Triple Crown winner Justify, who stands at Coolmore’s Ashford Stud, was led by a $950,000 colt purchased by Hideyuki Mori. He led the first-crop class by both gross and average in Book 1. Justify (25 yearlings for $12,522,000) narrowly missed catching leading sire Into Mischief (20 yearlings for $12.8 million) by gross.