Trapezium sells for $327,000 to lead Keeneland digital sale

Keeneland, one of North America's major auction companies, moved into a new era Tuesday with its inaugural June select horses of racing age sale, the first stand-alone online auction held via its new Digital Sales Ring platform. Although the market showed some restraint, leading to a high buyback rate, the sale posted solid average figures, with $327,000 Trapezium leading the way.

Bidding on the entire catalog for the auction opened Tuesday morning, and bidding closed on lots in sequential order, in increments of several moments, later in the afternoon. A total of 31 horses were offered; 12 sold for a gross of $829,500. The average, with two horses sold for six-figure price tags, was a solid $69,125. The median price finished at $32,750.

While 19 horses failed to meet their reserves, four of those fetched high bids in excess of six figures, led by the juvenile filly Queen Arella at $475,000. Grade 2-placed Tempers Rising also was a buyback, at $150,000. This suggests that while there was restraint on the part of buyers – perhaps due to the economic uncertainty caused by the global coronavirus pandemic, and perhaps due to the new format – sellers also had set strong reserves on quality stock.

Keeneland is the latest to join the ranks of auction houses worldwide seeking to expand online and other remote-bidding options in order to address restrictions on gathering to prevent the spread of the COVID-19 virus. Keeneland said in a press release this spring that it had been working on its digital platform prior to the pandemic, but that its efforts were “expedited” beginning in March when it became clear that the pandemic would have long-lasting impacts. Keeneland’s platform, developed with the Kentucky technology company Horseco, is similar to one used by Magic Millions in Australia earlier this year.

“The successful launch of the Digital Sales Ring marks a milestone in Keeneland’s storied auction history because it enables us to deliver another high-quality sales option to our clients,” Bob Elliston, Keeneland’s vice president of racing and sales, said following Tuesday's auction. “This sale met the needs of the market by providing buyers, as tracks reopen around the country, the opportunity to purchase proven, ready-made racehorses from top-flight consignors.”

Trapezium, a 3-year-old Hard Spun filly, was offered as a racing or broodmare prospect by her breeder, Juddmonte Farms, and was purchased by St. Elias Stable to continue her career with Todd Pletcher. Trapezium has started twice in the care of Bill Mott, and most recently finished second in a maiden race Feb. 2 at Gulfstream.

Trapezium is out of the unraced A.P. Indy mare Mesmeric, making her a half-sister to multiple graded stakes winner Honorable Duty. Mesmeric is out of Juddmonte's Grade 1 winner and Broodmare of the Year Toussaud, dam of Belmont Stakes winner and influential sire Empire Maker, Grade 1 winners Chester House, Chiselling, and Honest Lady, and Grade 2 winner Decarchy. Honest Lady was a multiple stakes producer in her own right, with her foals led by Grade 1 winner First Defence.

“Trapezium comes from one of [Juddmonte’s] elite families,” Juddmonte general manager Garrett O’Rourke said. “I wasn’t sure in this format buyers would recognize her value. I was wrong. Our phone began ringing very early on; people were paying attention, doing their homework, and she sold accordingly.

“The online sale format was well received and embraced by buyers,” O’Rourke continued. “There were some growing pains with registering to bid, etc., but buyers adapted quickly. It was productive and went very smoothly – to be able to pull together buyers and players and turn the sale around in such a short time. We needed to move some horses, and it was a big help to us.”

For complete sale results, click here.