by Pete Denk
Mike Moreno’s Southern Equine Stable purchased Irish Cherry for $2.7-milllion to top the opening session of the Keeneland January horses of all ages sale in Lexington.
The 14-year-old Irish Open mare, believed to be carrying a colt by Ghostzapper, has five foals of racing age, including multiple Grade 1 winner Spun Sugar and 2007 Hill ‘n’ Dale Cigar Mile Handicap (G1) winner Daaher.
It was the highest price at the Keeneland January sale since Desert Stormer, winner of the 1995 Breeders’ Cup Sprint (G1), sold for $3.6-million in 2002.
Despite selling 7.6% fewer horses then during the opening session last year, total sales increased 12.4% to $21,325,900. Average price jumped 21.6% to $109,364, compared with last year’s corresponding session, while median remained stable at $55,000.
The buy-back rate of 33% increased from 27.5% last year and, despite the other gains, was a troubling sign for many consignors and commercial breeders.
“I think it’s a very discerning market,” said Keeneland’s Director of Sales Geoffrey Russell. “Perceived quality is selling very, very well, but there’s a little bit of polarization there. The top end is strong, and then there’s a weakness throughout the rest.
“It comes back to the comments we’ve made over the past year about overproduction. That was clear again today.”
Bred in Kentucky by the Spears-Olsson Breeding Syndicate, Irish Cherry is out of the winning Ancestral (Ire) mare Eston. On the track, she won six of 14 starts, including two stakes races at Woodbine, and earned $147,280.
Irish Cherry was consigned by Hill ‘n’ Dale Sales Agency, agent, on behalf of the partnership of Mike Abraham and Pierre and Leslie Amestoy. The Amestoys own Lobo Farm in Paris, Kentucky.
“These are the kinds of mares Southern Equine has been after the last couple, three years,” said Southern Equine’s trainer Eric Guillot, who signed the ticket. “When you look at what her produce record is, I don’t think many broodmares who have produced multiple Grade 1 winners have been offered at public auction lately.”
The January sale was the first auction conducted under the Kentucky sale industry’s steroid ban, which allows buyers to request a steroid test at the time of purchase. Keeneland reported no requests.
Robert Courtney Sr.’s Crestfield Farm sold the day’s three highest-priced yearlings, including a filly out of Ministrada from the first and only crop of deceased 2005 Horse of the Year Saint Liam for $475,000.
The 86-year-old Courtney, who bought his first horse in 1941, is retiring after the January sale, and his longtime client Jaime Carrion is getting out of the industry. Each of the three top-priced yearlings was part of the Carrion dispersal.
Tom VanMeter purchased the Saint Liam filly and plans to race her.
“I was there to look at a mare and she walked out,” VanMeter said. “Some you can’t afford. Some you can’t afford not to have."
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Pete Denk is a Thoroughbred Times staff writer