Competitive trade fuels solid market at Keeneland
Karakontie colt takes top honours on Tuesday
Going into this year’s yearling sales season, trainer Mark Casse changed his approach to his buying pattern. Rather than buying the elite, pricey horses with the best sire power, best female families, and flawless veterinary reports, he and primary client John Oxley decided to take it back a level.
“Now we have syndicates and partnerships at the top that makes it tough on a guy who wants to do it on his own,” said Casse. “We have kind of stepped back and started doing things a little bit differently this year. .”
That approach found Casse among the large group of other trainers, pinhookers, and agents aggressively shopping the Keeneland September Yearling Sale during Tuesday’s ninth session, day 1 of Book 5 of the auction that continues through to Friday.
While the key numbers were predictably lower than previous sessions, the activity level on the sale grounds was vibrant as buyers and sellers enjoyed splendid weather on the Autumn equinox.
A total of 253 yearlings were sold for $6,484,100 (approx AUD$9.1million) during the session, for an average of $25,629 (approx AUD$36,000) and a $15,000 median (approx AUD$21,000). The RNA rate was 18 per cent, the lowest of any session during the 2020 sale, perhaps reflecting breeders’ lowered expectations.
Session-to-session comparisons to 2019 are not possible due to a format change in the sale this year, with Book 1 consisting of two days instead of three.
With three days remaining in the 12-day sale, Keeneland has sold a total of 1,880 horses for $242,340,300 (approx AUD$400 million), for an average of $127,841 (approx AUD$179,350), and a median of $62,000 (approx AUD$87,000). The cumulative RNA rate is 28 per cent.
All seven yearlings offered in the $100,000-plus price range were sold, and 169 of 199 offered at a price point below $24,999 changed hands for an RNA rate of 15 per cent. The weakest category on the day was in the $25,000-$49,999 price point, with 55 sold and 24 buy-backs.
With 195 yearlings sold from 324 offered, Taylor Made Sales Agency is leading consignor through nine sessions with total receipts of $28,865,500 (approx AUD$40 million).
Agent Donato Lanni is the sale’s leading buyer, with 30 horses bought for $12,570,000 (approx AUD$17,634,000), an average price of $419,000 (approx AUD$588,000).
Topping the Tuesday session was a colt by Karakontie (Bernstein) purchased for $500,000 (approx AUD$700,000) by Californian Marsha Naify, bidding by phone, from the consignment of Gainesway, agent. Naify also acquired two fillies, one by Jimmy Creed for $35,000 (approx AUD$49,000), and the other from the first crop of Gormley for $30,000 (approx AUD$42,000). She was the session’s leading buyer with a total of three purchases for $565,000 (approx AUD$792,500).
Two yearlings fetched the session’s second-highest price of $240,000 (approx AUD$336,500).
Solis/Litt went to that level for a filly by Jimmy Creed (Distorted Humor) out of On Reflection (Malibu Moon). Consigned by Woods Edge Farm, agent, she is from the family of Grade 1 winner Rutherienne (Pulpit) and Grade 3 winners Adorable Micol (Riverman), Adcat (Storm Cat), Ruthenia (Pulpit), and Oiseau de Feu (Stravinsky).
D.J. Stables purchased a colt by Speightster (Speightstown) that is a half brother to Grade 2 winner Hotshot Anna (Trappe Shot). Consigned by Beau Lane Bloodstock, agent for Paul Tackett, the colt is out of the winning, stakes-placed mare Avalos (Holy Bull).
“I have gone back to ‘old school,'” Casse said. “It’s kind of how I got here. I’ve been doing this for 40-some years and some things on vet reports that scare other people don’t scare me. And vice versa. Maybe there are things people look past that I’m not willing to accept.
“I enjoy this part of it,” Casse continued. “Everyone asks, ‘Why are you still around?’ This is what I enjoy doing. I have found a lot of good horses for not a lot of money.”
Trainer Ken McPeek echoed Casse’s sentiment about the ability to buy quality horses in the middle of the Keeneland market.
“There are always good horses in this book,” McPeek said. “It’s a smaller percentage but they are here. You just have to fish them out. We try not to push the market.”
McPeek said it was a buyers’ market, which could motivate him to continue into the final days of the sale.
“The market is down and there are assorted different people we buy for, so I might even buy into Book 6,” he said.