Median rises 33 percent to $20,000 at Keeneland January sale

LEXINGTON, Ky. – In the continuation of a competitive marketplace that began last fall, the Keeneland January horses of all ages sale closed its four-day run Friday night with solid figures.

Keeneland January began one day later than planned, due to a record snowfall in Lexington late last week and the resulting logistical challenges in transporting and inspecting horses. The wait didn't dampen the enthusiasm, as Keeneland reported that 1,013 horses sold through the ring before any private sales are factored in for gross receipts of $46,341,100, led by the $750,000 filly Princesse Lele. Last year's four-day sale finished with 963 horses sold through the ring for receipts of $45,522,100.

This year's January sale came in hard-pressed to keep up with returns from the 2021 auction, which was supercharged by the high-profile dispersals of the legendary Sam-Son Farm and the prominent racing stable of the late Paul Pompa Jr. Those dispersals accounted for more than $13.9 million in gross. Sam-Son's Danceforthecause and Pompa's Regal Glory each sold for $925,000, leading five horses who sold for prices in excess of this year's $750,000 top price. As a result, the 2022 cumulative average price, $45,746, did see a moderate dip of 3 percent from $47,271 last year, thanks to that strength at the top of the marketplace.

However, Keeneland January's median spiked 33 percent, to $20,000 from $15,000 last year. The median is considered the crucial figure for the health of the market across the board, since it is not influenced by outlying prices as much as the average is.

In a similar vein, the overall buyback rate also improved slightly, to 19 percent compared to 21 percent last year.

"I think the trends . . . show a very healthy progression in the market," said Tony Lacy, Keeneland’s vice president of sales. "Having a healthy median is really, really important. We've been very consistent on that."

The market is "believable, and more sustainable over the longer term," Lacy said. "It gives me confidence as we move forward. There's value for a nice horse – [breeders] can get a return."

Princesse Lele was purchased by Three Chimneys Farm in a partnership buyout. The 2-year-old Quality Road filly was co-bred by Three Chimneys and Hill 'n' Dale Farm, which announced last fall that they would be dispersing their shared holdings. Hill 'n' Dale is handling the consignment.

The filly is the second foal out of the Grade 1-winning Malibu Moon mare Carina Mia, who was campaigned by Three Chimneys. Carina Mia is out of Miss Simpatia, a full sister to Argentinian champion and U.S. Grade 1 winner Miss Linda. That makes Carina Mia a half-sister to Argentine Oaks winner Miss Match, also a Grade 1 winner in the United States.

The second-highest price of the sale also came from a young horse, as Carl and Yurie Pascarella went to $700,000 to acquire the 3-year-old colt Belgrade, supplemented to the original catalog off an impressive debut victory last month for owner Randy Bradshaw.

“The quality of the catalog was very strong when it initially came together, but the ability to add a small number of supplements, such as Belgrade, who sold so successfully for [Bradshaw], was very rewarding,” said Cormac Breathnach, Keeneland’s director of sales operations.

Belgrade posted a six-length debut victory going six furlongs Dec. 18 at Fair Grounds for trainer Brendan Walsh that earned a Beyer Speed Figure of 79. The Hard Spun colt, who was consigned by Four Star Sales, as agent, will join the barn of trainer Graham Motion.

Behind the youngsters at the top of the leaderboard, stakes producers Co Cola and Susie's Baby were Keeneland January's highest-priced broodmares, each selling for $600,000.

Co Cola, carrying a full sibling to her Grade 1 winner Search Results, was purchased by Peter Blum. The 11-year-old Candy Ride mare was consigned by James B. Keogh's Grovendale, as agent.

Co Cola, second in the Grade 3 Old Hat Stakes, is a half-sister to Peruvian Group 1-placed Kingdom Road, who also was a champion in Ecuador. Their dam, the winning Yonaguska mare Yong Musician, is a half-sister to Canadian champion Kimchi; this also is the family of multiple Grade/Group 1 winner Mind Your Biscuits.

Co Cola has continued her family's solid production record. Her first foal, the 6-year-old Will Take Charge gelding Blue Steel, is a seven-time winner, including the Claiming Crown Iron Horse Kent Stirling Memorial Starter Stakes last December. Her next starter was the Flatter filly Search Results, who, last season as a 3-year-old, won the Grade 1 Acorn Stakes, Grade 3 Gazelle Stakes, and Busher Invitational. She also was a hard-fought second in the Kentucky Oaks and third in the Grade 1 Test Stakes.

Susie's Baby emerged from the supplemental catalog to sell for $600,000 when purchased by Cypress Creek LLC from the consignment of Gainesway, as agent. The 10-year-old Giant's Causeway mare was sold in foal to young classic sire Constitution.

Susie's Baby, a winner on the racetrack, is the dam of two winners from three starters. Those are led by Family Way, a daughter of Uncle Mo, who won the Kentucky Downs Ladies Marathon last September.

Susie's Baby is out of the stakes-winning Holy Bull mare Mekko Hokte, dam of Caravaggio, twice a winner at the renowned Royal Ascot meeting and one of the leading freshman sires of 2021. The mare also is the dam of Grade 2 winner My Jen, dam of a Group 3-placed runner in Japan.

The top price among the yearlings at the sale was a $375,000 colt by Gun Runner, purchased by Narvick International for an undisclosed client from the consignment of Hunter Valley Farm, as agent. This is the third crop for Horse of the Year Gun Runner, who set a record for earnings by a North American freshman sire in 2021, and who also led the overall 2-year-old sire list.

“A lot of people are trying to get the good Gun Runners," said Narvick's Emmanuel de Seroux, who said that the colt would race in the United States for the client. “He is a very good mover. I liked him very much; he walked very well. He had very good presence about him and is a very classy horse.”

The colt is out of the winning Empire Maker mare Take a Memo, whose only starter is a winner. She is out of Grade 2 winner Memorette; graded stakes winner Gervinho and stakes winners Broad Hopes, Fondre, Lakerville, Paradise Found, and Parkway Drive also appear on the catalog page.

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