NEWS
Keeneland tweaks opening sessions of September sale
Posted: Friday, March 05, 2010 10:59 AM
by Steve Bailey
In an attempt to serve its consignors and buyers more effectively, the Keeneland Association has revamped the world’s largest yearling sale.
Keeneland officials laid out their plans on Friday for a change in the format of its September yearling sale, which now is scheduled to take place from September 12 through September 26.
The new format will move the sale’s annual “dark” day from Friday to Saturday and allow Keeneland to offer 1,500 yearlings during the first week while offering fewer yearlings on average each day.
“I’m not sure that `relaxed’ is the right word, but we want to make the effort to provide a more social and welcoming atmosphere,” Keeneland President Nick Nicholson said.
“The old July sale got to be such a social event that, at times, not enough business got done. The September sale has kind of gone in the opposite direction, where it has become all business and people many times do not have time to enjoy the wonderful things Central Kentucky has to offer. We’re confident the new format will provide a better balance in both areas.”
Highlights of the format change include:
• A more focused Book 1, including a selected sale of only 200 yearlings spread over Sunday and Monday night sessions, with about 100 yearlings offered each night;
• A larger and more dynamic Book 2, which will run Tuesday through Friday with 1,300 yearlings offered at an average of about 325 per day, down from an average of about 400 per day the past few years.
“This new format reflects the changing Thoroughbred industry,” Nicholson said. “We’ve been working in collaboration with our customers—particularly consignors—over the last few years to develop a format that fits the current dynamic and needs of our buyers and sellers.”
Officials hope the new format will create more stability, continuity, and excitement within the Thoroughbred marketplace as economic conditions continue to rebound domestically and internationally.
Russell said the September yearling sale is an important barometer of the Thoroughbred industry as a whole and that a sale that is more open to the needs of buyers and consignors can help fortify the market in tough economic times.
Russell also said the reduction in the number of selected yearlings offered during the first two evening sessions should create more of a buzz and an electric atmosphere that could help kick start a strong first week of sales.
“The new format will give the sale some pizazz the first couple of nights,” said Reiley McDonald of Eaton Sales. “It will take some pressure off buyers the first week when there is more selection done in the barn area, and it will level off the playing field in Book 2 for both sellers and buyers.”
Nicholson and Russell both noted that the changes have been in the works for several years and that many consignors and buyers, from both the United States and abroad, were consulted to ensure the new format would be useful and well received.
“Lane’s End could not be more supportive of Keeneland’s proposed changes to the September yearling sale,” Lane’s End’s Bill Farish said. “Keeneland has worked closely with many consignors in the past few months to alter and improve the format of the sale.
“The quality and value that are hallmarks of the September sale will be strengthened even further with the implementation of this exciting new approach.”
Steve Bailey is deputy news editor of Thoroughbred Times
