NEWS

Sales News

Industry News

Most Popular Stories

Most E-mailed Stories

Overbrook dispersal leads Keeneland rebound

Posted: Wednesday, November 11, 2009 8:18 PM

SESSION TOPPER: HONEST PURSUIT

PhotosByZ.com/Keeneland

by John P. Sparkman and Jeff Lowe

The dispersal of the W. T. Young family's Overbrook Farm led the way to a substantial rebound on Wednesday’s second day of the Keeneland November breeding stock sale.
.
Overbrook's 38 horses sold for $20,957,000, accounting for 22.5% of the day's 169 horses sold and 46.2% of the day's total proceeds of $45,360,000. Overbrook's horses averaged $551,500.

The day's overall average price, $268,402, was 28.6% higher than the average for the first session on Tuesday, but still 4.2% below the average for the second session in 2008.

After two days of the 2009 sale, 295 horses have sold, down 1.3% compared with the 2008 sale, for $71,651,500, down 20.4%. Overall average has declined 19.3% to $242,886, but the buy-back rate was down sharply on Wednesday as sellers adjusted to the realities of the marketplace, reducing the overall buy-back rate to 22.4% compared with 36.4% after the first two sessions in 2008.

“We knew Overbrook Farm would be a major attraction to the November sale,” said Geoffrey Russell, Keeneland's director of sales, “and the market has given a fitting response to the 30 years the Young family has given to the Thoroughbred industry. Quality sells. There's still plenty of money for the right horse.”

“The best news is that the buy-back rate is down. As the sale went on today, reserves were being well met and passed. The Americans must have woken up last night because we have four Americans among the top prices. The domestic money came out today. Overbrook's pedigrees are very much American pedigrees.”

Alain Wertheimer outbid Greg Goodman and several other buyers who lodged bids of more than $2-million for the session and sale topper, paying $3.1-million for Honest Pursuit, a four-year-old Storm Cat filly from the consignment of Eaton Sales, agent, for the complete dispersal of Overbrook Farm.

Honest Pursuit, who won two races and earned $96,985, is half sister to Grade 1 winner First Defence and two other stakes winners out of Grade 1 winner Honest Lady, by Seattle Slew, a half sister to Empire Maker and Chester House.
 
"We thought she would be about $2.5-million," said Wertheimer, who races and breeds in partnership with his brother Gerard. "If you could get that family every day you wouldn't pay that much."

"We take no credit for that," said Chris Young, grandson of Overbrook's founder, W. T. Young. Honest Pursuit was bred on a foal share with Juddmonte Farm. "You could tell [Wertheimer] really wanted her. We're just happy she went to one of the great breeders of the world and will have the opportunity to be bred to the best stallions."

Honest Pursuit was the fourth Overbrook mare to sell for $1-million or more, following Cotton Blossom for $2.3-million, Summer Raven for $1.7-million, and Dark Sky for $1.3-million.

Overbrook also provided the highest-priced weanling of the day, a Bernardini filly out of Overbrook's 1994 champion two-year-old filly Flanders, by Seeking the Gold. California-based, French-born agent Hubert Guy purchased the filly for $440,000 on behalf of an unidentified client.

"She's a lovely, top filly, and she's one of the best-looking fillies out there," Guy said. "She's by a stallion that looks like he's producing extremely well and it's an outstanding family. It's for a foreign breeder. We were able to overcome some of her faults that she has because we're looking in the long-term. We're not going to turn her over and sell her as a yearling."

The price matched the top price for a weanling during the opening session.

The sale continues at 10 a.m. EST on Thursday.

John P. Sparkman is bloodstock editor of Thoroughbred Times

Jeff Lowe is a Thoroughbred Times staff writer