The first of eight sessions of the Keeneland November Breeding Stock Sale took off Nov. 8 with the dam of Kentucky Derby (G1) winner Mage headlining Wednesday's offerings after selling privately to John Stewart for $2.9 million. Case Clay Thoroughbred Management consigned Puca as Hip 191, carrying a full sibling to her grade 1-winning son of Good Magic .
"It was a really good day," Keeneland president and CEO Shannon Arvin said. "We were delighted with the session overall. The century's theme is that quality sells, and there was a high demand for quality today. The foal market was robust. Today, we had double the number of foals this year sell for $400,000 or more than last year.
"There was great international participation but plenty of domestic participation. There was a real diversity among the buyers. It was interesting, probably the nature of the breeding stock, but there weren't as many partnerships and buyers as we see in some years."
While under the hammer, bidding for the mare shot up to $2.8 million, but Puca failed to change hands. Shortly after the last horse was through the ring, Gavin O'Connor, agent for John Stewart, signed the sales slip to add the Big Brown mare to his blossoming stable.
This year, Mage blasted onto the racing radar after finishing second in the Florida Derby (G1) in April, following up with a winning performance in The Run for the Roses. The Gustavo Delgado trainee traveled to Pimlico Race Course to contest the second jewel of the Triple Crown, where he finished third behind National Treasure . He ran second to Geaux Rocket Ride in the Haskell Stakes (G1) at Monmouth Park in July.
"It was still a solid market, and we were delighted at the end of the day to learn that Puca got sold for $2.9 million to John Stewart. We're excited for the sellers, the breeders, Case (Clay), and John Stewart and look forward to hearing a lot more and seeing more from Puca in the coming years."
The first selling day saw 11 mares bring $1 million or more, with the top 10 horses selling to nine distinct buyers.
"When you look at the seven-figure-plus horses we had we're up to 11, which is one more than last year," Tony Lacy, vice president of sales for Keeneland, commented. "Last year was an extremely strong session. We started off with Flightline, which was an exception in many ways. Today, we saw a competitive environment for horses that were perceived to have elevated desirability, and I think that was very evident and competitive. Buyers found it tough to buy the stock they wanted to buy."
The top weanling offering, Hip 154, sold to Shadwell Racing for $750,000. Taylor Made Sales Agency consigned the son of Gun Runner , a half sibling to 2021 Central Park Stakes runner-up Ohtwoohthreefive, by Union Rags . Fred Hertrich bred the colt out of the winning Galileo mare Urban Hill in Kentucky.
"There were many people here from many sectors of the world, and there is a lot of confidence in the breeding industry right now," Lacy commented. "When you see the median jumping, at a tick over 30%, that's a significant increase in the core group. I noticed some protection in the market; many people were setting reserves that were not letting horses go. They were not going to sell them short."
Keeneland reported 131 horses changed hands of the 185 on offer Wednesday for a $60,945,000 gross, down 4.7% over the first session in 2022 (last year's figures exclude the $4.6 million sale of a fractional interest in Flightline ). A $465,229 average was up 2.6% and the median rose 36% to $375,000. The 54 horses who failed to attain their reserve represent an RNA rate of 29%.
Last year, during the first day, 141 horses sold of the 184 on offer for a gross of $63,930,000, recording an average price of $453,404 and a $275,000 median. An RNA rate of 23% represents the 43 individuals who failed to sell.
West Bloodstock, agent for Repole Stable, made five purchases Wednesday for gross receipts of $4,400,000, at an average of $880,000, to be the Day 1 leading buyer. Gainesway sold 15 of their 20-horse draft for a gross of $6,940,000, at an average of $462,667, to be the leading consignor.
Lacy added: "We look forward to moving into (Thursday) with a lot of the same, and I think there's probably more depth as more people come into the more affordable range. Many breeders are looking to reinvest from the September sales and the yearling sales overall, but I think we're looking good looking, and it's encouraging."
Selling from Book 2, Hips 261-668, begins Thursday at 10 a.m. ET; as of Wednesday evening, 77 horses have been withdrawn from session 2.
