NEWS
Total sales down, buy-back rate improves on Saturday at Keeneland
Posted: Saturday, November 14, 2009 7:46 PM
by Mike Curry
After three straight sessions of increases in total sales sparked by the Overbrook Farm dispersal, the Keeneland November breeding stock sale finished day five on Saturday with declines across the board.
Keeneland reported 258 horses from 317 offered as sold for total receipts of $10,837,000, down 15.2% from the corresponding session last year. Average price declined 24.4% to $42,004, and median decreased 28.9% to $32,000.
A significant bright spot of the session was the buy-back rate, which improved from 31.1% on day five last year to 18.6% on Saturday.
“Trading went very well today; the clearance rate was especially impressive,” said Geoffrey Russell, Keeneland’s director of sales. “By selling their horses without reserve, Overbrook Farm helped establish the market. They deserve much credit for putting confidence back in the market.”
A dark bay or brown weanling colt by Tiznow topped Saturday’s session. A Delaware Corp. purchased the session topper for $265,000 from the consignment of Bluewater Sales, agent.
The Tiznow colt is out of the unraced A.P. Indy mare Storm Front, a full sister to stakes-placed winner Indy Trouble.
The highest price for a broodmare or broodmare prospect of the session was $210,000 for six-year-old Wagtail (GB). British Bloodstock Agency (Ireland) secured the stakes winner by Cape Cross (Ire) from the consignment of Three Chimneys Sales, agent.
Out of the winning Suave Dancer mare Dancing Feather, a half sister to French Group 3 winner Spring Oak (GB), who was multiple Grade1-placed, and stakes winner and multiple Group 1 stakes producer Fragrant Hill, Wagtail is in foal to Sky Mesa.
BBA (Ireland) led all buyers on Saturday, purchasing two horses for $410,000. Adena Springs was the leading consignor by total sales with 36 horses sold for $1,402,000.
Through five sessions, total sales are down 10% to $129,721,200, compared with $144,067,000 after five days last year. Average price is down 18.1% to $123,662, and median is down 10.8% to $70,000.
The Keeneland November sale continues through November 22, with sessions beginning daily at 10 a.m. EST.
For hip-by-hip results, click here.
Mike Curry is a Thoroughbred Times TODAY editor
