Keeneland Day Six: Market Softens
by Claire Novak
Date Posted: 11/10/2007 8:55:14 PM
Last Updated: 11/11/2007 8:24:22 PM

The Nov. 10 session of the Keeneland November breeding stock sale saw declines in gross, average, and median.
Photo: Anne M. Eberhardt

The Nov. 10 session of the Keeneland November breeding stock sale saw declines in gross, average, and median as a changeover of buyers from around the world created a softer market.

“It was weaker than I thought it would be today, but I still think that anything that ‘ticks all the boxes,’ to quote John Ferguson, still sells well,” said Geoffrey Russell, Keeneland’s director of sales. “I’ve talked about it before; the breeding stock sales are difficult to compare from year to year because you’re dealing with factory over product. So, we’ll just have to see. Day seven tomorrow.”

The 9-year-old Pulpit mare Sly Butterfly, consigned by Hidden Brook, agent for Adena Springs, topped the sale at $410,000 when John Adger  purchased her on behalf of Janice and Robert McNair’s Stonerside Stable. Bred in Kentucky by Adena Springs, Sly Butterfly is a stakes-winning producer of three foals. Her 2-year-old Sligo Bayfilly, trained by Reade Baker, wonf the Oct. 11 JPMorgan Chase Jessamine Stakes over the turf at Keeneland for owner Craig Singer. The mare also has a yearling filly by Congaree   and a weanling colt by El Prado. She is believed to be in foal to Macho Uno  .

“We sold some mares recently and were just looking for a nice producing mare to replace some of those,” Adger said. “She fits in with what we’re trying to do; out of a stakes winner, a stakes winner herself, and Pulpit is an outstanding stallion. Mares that look like they’re on the verge of being good producers are going to bring money whether they sell on a Saturday or sell during the first few days of the sale. She was right about where I thought she’d fit (price wise), so now we’ll see if we got it right.”

There were 251 horses sold for a session total of $17,038,200, as the gross dropped 16.9% compared to last year’s $20,496,000 for 271 horses. The average fell 10.2% to $$67,881 versus $75,631 in 2006 while the median of $53,000 was down 11.7% from last year’s $60,000.

The buy-back rate was 25.5% (86 head) compared to last year’s 21.4%.

The second-highest purchase of the session was the 4-year-old A.P. Indy mare Votsi, consigned by Brookdale Sales, Agent, who sold for $310,000 to bloodstock agent David Ingordo for Kenneth T. Jones’ Domino Stud. Bred in Kentucky by Gainsborough Farm out of the Mr. Prospector mare Set in Motion, she is believed to be carrying her first foal after a service to Cherokee Run.

“She’s a lovely, big, scopey mare with plenty of pedigree,” Ingordo said. “She’s a good-walking mare with plenty of hip and a fine shoulder, and a good foal by Cherokee Run will be fine for Domino. She seems very athletic and will do the job Domino wants her to do.”

Ingordo also arranged for Domino’s private purchase of the Comic Strip mare Comic Queen, who was consigned to the Nov. 9 session by Bluewater Sales Agency but did not attain her reserve at $105,000.

Taylor Made Sales Agency was the session’s leading consignor with 34 head sold for $2,498,000.

The top weanling was a $270,000 Street Cry colt bred in Kentucky by Larry W. Baker Jr. out of the Best of Luckmare Cannons Crown. Walnut Hill Stables purchased the colt from consignor Bluegrass Thoroughbred Services. The top weanling filly was a $170,000 daughter of Roman Ruler bred in Kentucky by Brian Burns’ Mount Joy Stables out of the Boundary mare Ceiling. Welcome Gate Farm purchased the filly, consigned by Taylor Made Sales Agency, agent.

Also worth noting was the $100,000 sale of grade III winner Point Determined, a 4-year-old son of Point Given  consigned by Denali Stud on behalf of the Robert and Beverly Lewis Trust. The stallion or racing prospect was purchased by Dr. Oscar Benavides, agent.

Cumulative results for the first five days of the Keeneland November sale are as follows:

Thus far this year 1,372 horses have been sold for a gross of $288,484,700, an average price of $210,266, and a median of $100,000. Last year 1,407 horses had sold at this point for a gross of $269,049,500, an average of $191,222, and a median price of $110,000. 

The cumulative buy-back rate thus far is 23% (410 head), even with last year’s rate.

The sale continues Nov. 11 beginning at 10 a.m. (EST) with hip 2188.



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