Keeneland September: Polarized market emerges heading into final book
The polarization of the marketplace became more apparent as the Keeneland September yearling sale moved into Book 6 on Saturday, with comparable figures at the top of the marketplace but declines in overall returns and a much higher buyback rate.
Saturday’s session saw 168 yearlings sold for revenues of $1,490,300. That marked a 2 percent decline from last year’s 12th session, the last of the 2015 sale, when 170 horses bought $1,518,800.
The average sale price fell less than 1 percent to $8,871 from $8,934, while the median declined 46 percent to $3,759 from $7,000. The buyback rate finished at 29 percent after landing at 17 percent during last year’s comparable session.
Four horses sold for $50,000 or more, doubling the number to reach that mark during last year’s 12th session. Ken and Sarah Ramsey bought the session-topper from that group, a $90,000 First Defence colt.
The dark bay or brown colt is the first foal out of the stakes-placed After Market mare Listen Boy. Bred in Maryland by Sagamore Farm, the colt is from the family of Grade 3 winner Keys to the Heart, and Grade 1-placed runners Avie’s Shadow and Rahy Doll.
Upson Downs Farm consigned the colt, as agent.
Trappe Shot led Saturday’s sires by gross and average sale price among those with three or more sold, with five sold for $108,000 and an average of $21,600. The Claiborne Farm resident accounted for the day’s second-highest price, a filly who sold to McMahon and Hill Bloodstock, as agent, for $87,000.
Taylor Made Sales Agency was the day’s leading consignor, with 14 horses sold for $135,500. McMahon and Hill topped the session’s buyers, with two purchases totaling $111,000.
After 12 days of trade, a total of 2,645 yearlings have changed hands for $271,853,900, trailing last year’s 12-session gross by 3 percent. Last year’s comparable session was the final day of the 2015 renewal, which saw 2,745 horses sold for overall revenues $281,496,100.
The cumulative average sale price tracks 0.23 percent ahead of the final figure of 2015, at $102,780 from $102,549, while the median is unchanged from last year’s record-tying $50,000. The buyback rate sits at 27 percent, up from 24 percent after 12 sessions in 2015.
The Keeneland September sale concludes Sunday with a session beginning at 10 a.m. Eastern.
For hip-by-hip results, click here.