Forward of the just lately accomplished Keeneland September Yearling Sale, vp of gross sales Tony Lacy stated the Keeneland inspection staff noticed a excessive degree of consistency and high quality all through the three,539 horses supplied Sept. 9-21.
The standard shone by means of because the Lexington gross sales firm celebrated a report gross of $427.8 million and a report $148,130 common (each statistics together with non-public gross sales). The median of $70,000 equaled the sale’s report.
An evaluation of the sale’s outcomes by decile exhibits the place the consistency contributed to the record-setting outcomes.
Certain, a $5 million sale topper is an enormous contributor to the gross, however a 4.3% enhance within the common for the highest decile—the highest 10% of horses bought—is a extra substantial affect. The highest decile common was $651,972 in comparison with $624,913 final 12 months and $605,320 in 2022, when the September sale set its earlier report by gross ($418,271,200).
The Curlon colt consigned as Hip 347 within the gross sales ring on the Keeneland September Sale
The highest 5 deciles for this 12 months’s sale all reported vital development in common worth, whereas final 12 months solely the highest two among the many prime six deciles reported beneficial properties in contrast with the 2022 sale. The largest beneficial properties this 12 months had been seen within the fourth decile, representing yearlings that bought within the $100,000-$150,000 vary. This decile averaged $127,211, which was 8.8% larger than the identical decile of 2023, which was represented by the identical worth vary. Extra horses, nevertheless, bought throughout the decile this 12 months slid towards the upper finish, as proven by the fourth decile median, which was $130,000 for this 12 months in contrast with $120,000 a 12 months in the past.
Solely two deciles this 12 months confirmed vital decline—the eighth and ninth deciles that embody horses bought within the $9,000-$30,000 vary. The largest drop occurred within the ninth decile (horses promoting for $9,000-$17,000), which confirmed a 6.3% drop in common to $13,076 from $13,960 a 12 months in the past.
Curiously, the underside decile—horses bought for $1,000-$9,000—reported a 1.9% enhance in common, regardless that the excessive finish of the worth vary a 12 months in the past was $10,000. The rise in common is minor however as a comparability, the underside decile of 2023 confirmed a 14% lower within the common.
“The vitality right here was at occasions harking back to one other period,” stated Lacy. “When the horses confirmed up on the sale, it verified our expectations. The market was very broad-based. We noticed new faces and welcomed again folks we’ve not seen in years from all around the world who returned due to their confidence within the U.S. trade and Keeneland being a worldwide market.”
Among the many contributing elements cited for the renewed confidence within the U.S. trade are wealthy purse ranges throughout the nation driving demand for racehorses; the success of American-bred horses racing world wide; and stronger treatment laws at racetracks and auctions.
Cormac Breathnach, senior director of gross sales operations, stated the top quality supplied through the September sale attracted an particularly deep bench of patrons.
“Essentially the most gratifying factor for us is to see patrons from 31 nations who’ve purchased from the September Sale catalog,” he stated. “Twenty-four totally different patrons purchased the 36 seven-figure horses, which is a report by way of the variety of particular person individuals who have participated at that degree, each worldwide and home. That is the market we attempt to present the individuals who assist us. There may be a variety of effort by our staff to pay again the individuals who ship us these superbly prepped and well-bred and well-raised athletes.”
