Vibrant Trade Continues at Keeneland

LEXINGTON, Ky – The Keeneland November Breeding Stock Sale produced another day of brisk bidding Tuesday in Lexington as the two-day Book 4 section concluded with a sparkling 17.7% buy-back rate. Tuesday's session included a selection of horses of racing age and the day's top-priced offering was the 3-year-old racing prospect You're to Blame (Distorted Humor), who sold to bloodstock agent Steve Young for $440,000. Consigned by Lane's End, the colt was one of two to top $200,000 during the session.

A filly by Tiznow out of graded stakes winner Mini Sermon (Pulpit) (hip 2665) was the day's top-priced weanling, selling for $105,000 to Global Thoroughbreds from the Denali Stud consignment.

During the two-day Book 4, 562 horses sold for $19,486,400. The average was $34,673 and the median was $25,000. Thirty-four horses sold for six figures.

Last year's Book 4, which produced a seven-figure transaction and was dominated by the power-packed Conquest Stables dispersal, saw 541 horses sell for $24,054,800. The average was $44,464 and the median was $25,000.

“The bottom line is the market is deep and strong,” Gainesway's Michael Hernon said as Tuesday's session was wrapping up. “We saw an incredible 16.5% RNA level yesterday. Today it's slightly above that at 19%. I am seeing a lot of new faces and a lot of names on the results sheet that I don't recognize. So it's a broad, deep market. The weanlings are bringing a premium. Sometimes I think people forget it's the pregnant mares who actually produce these weanlings and that's where the value is.”

Mark Taylor of Taylor Made Sales Agency agreed that, while the weanlings and top-tier mares are demanding a premium, there was value to be found in the broodmare market.

“Up through today, I think the market, particularly on foals, has been really, really strong,” Taylor said. “I think on the top-end mares it was really good. On the middle-range mares, let's say mares that are in the $50,000 to $30,000 range, I think there is some value in there for people who can control their costs, have their own farm and can drop these babies out. I saw mares that are selling in the $25,000 to $50,000 range that I think the baby they are carrying could bring north of $100,000 next year if it vets well and jumps through a couple hoops. I think that's the soft spot in the market.”

The Keeneland November sale continues through Saturday with sessions beginning daily at 10 a.m.

Young Takes the Blame

The 3-year-old racing or stallion prospect You're To Blame (Distorted Humor) will be joining the barn of trainer Todd Pletcher after selling for $440,000 to bloodstock agent Steve Young, bidding on behalf of an undisclosed client.

“I think he is probably the best horse selling today,” Young said. “He is a horse who is in very good shape for a horse three turning four, he's got a lot of blue sky to him. I'm taken aback a little bit at how well he vetted for a horse that's three turning four. I think he's a horse who has a chance to build on what he's done.”

Young, who purchased multiple Grade I winner Slumber (GB) (Cacique {Ire}) as a horse of racing age at the 2014 Keeneland November sale, returned later in Tuesday's session to acquire D'Ambrosio (Tapit) (hip 2834) for $150,000. The 3-year-old colt, consigned by WinStar Racing as agent for Stonestreet Stables, missed by just a head when second in an Aqueduct maiden special weight Nov. 8 for trainer Kiaran McLaughlin.

“We've done well with the horses of racing age out of this sale at Keeneland,” Young said.

You're To Blame (hip 2812) was a $400,000 Keeneland September Yearling purchase in 2015 for Woodford Racing. In the colors of the Bill Farish-founded partnership, the bay colt was third in this year's GIII Bay Shore S. and second in the Curlin S. for trainer Chad Brown. He is a son of Grade I placed Bon Jovi Girl (Malibu Moon).

“I think it goes to show you that, what has current form, has a lot of appeal here,” said Allaire Ryan of Lane's End, which consigned the bay. “He is pretty turnkey and a special opportunity. You see some second-tier horses change hands here who might be in claiming company, but he was a step above that. He was pretty popular at the barn. He's a very good-looking horse and he ticked all the boxes.”

Lane's End sold 15 horses during Tuesday's session for a total of $1,173,000 and an average of $78,200.

“For horses with good physicals and with current form, there is plenty of demand here,” Ryan said. “We've been really pleased with today.”

Fubini Splurges for That's a Lady

Sandy Fubini went to $240,000 to secure That's a Lady (City Zip–Competition, by Dixie Union), a 4-year-old racing or broodmare prospect, from the Lane's End consignment during Tuesday's session of the Keeneland November sale. The dark bay filly has hit the board in 10 of 19 starts, with one win, and earnings of $132,910 for owner Michael Talla and trainer John Sadler. She was third in the Southern Truce S. at Santa Anita in June.

That's a Lady may race again before joining the broodmare band at the Machmer Hall of her daughter Carrie Brogden and husband Craig.

“We were just going to have her as a broodmare, and I just paid probably $100,000 more than they wanted me to pay,” Fubini said after signing the ticket on the filly. “We waited all day for this one. She is beautiful.”

Out of Competition, That's a Lady (hip 2787) is a half-sister to graded stakes placed Desert Dynamo (Desert Party) and Ambusher (Stephen Got Even), as well as stakes placed Bartolome (Toccet) and Afleet Accompli (Afleet Alex). Her half-brother by Uncle Mo sold for $500,000 at this year's Fasig-Tipton Saratoga sale.

Asked for plans for the filly, Fubini said, “Carrie talked about running her next year, so all bets are off. She was beautiful and I knew she'd top the sale, so we got a little crazy. This one is on me, but when Craig saw her yesterday, he said, 'Buy that mare.'”

Fubini added with a laugh, “It's only money, that's all it is.”

Clark Keeps His Eye on the Fillies

Tom Clark was shopping the Keeneland November sale for fillies on behalf of an undisclosed client building up his broodmare band and the bloodstock agent made his fifth purchase of the auction when he signed the ticket at $145,000 to secure the 4-year-old racing or broodmare prospect Bonita Cat (Tale of the Cat–Dean Henry, by Empire Maker) (hip 2499). Earlier in the sale, Clark also purchased Puca (Big Brown) (hip 309), a 5-year-old racing or broodmare prospect, for $275,000.

“We are just starting out and trying to acquire some black-type and it's hard to do,” Clark said.

The stakes-placed Bonita Cat may race again, but will more likely have a date with Nyquist next spring. The bay filly is out of stakes winner Dean Henry, a half-sister to multiple graded stakes winner Read the Footnotes.

The market for fillies with black-type has only gotten stronger since last year, according to Clark.

“For what we were buying, which were commercially strong mares, not the strongest, but the Grade III mares, they sort of went off into a different zone,” Clark said. “They went up about 40%. And the listed winners were really strong. Any of them with pedigree were up 30% to 40% over 2016. So you just had to decide how far you'd go. There are some pesky people who don't have to make a profit and they keep everybody else honest. But if there is any rise in the market, that is where it is. It's in quality. You have to pay. If you could just pay 20% more, you were doing well.”

Clark was also tangentially related to another six-figure transaction Tuesday at Keeneland. He purchased the mare Mini Sermon (Pulpit), in foal to Tiznow, for $77,000 at last year's Keeneland November sale. That Tiznow weanling (hip 2665) was the top-priced foal during Tuesday's session, selling for $105,000 to Global Thoroughbred from the Denali Stud consignment.

“The foal was really out of my hands as soon as I bought the mare,” Clark admitted. “I bought the mare for a client of Denali's. He picked her out. He wasn't here and I had bought mares for him before. He selected her on paper and I thought she was ok physically. But it was his deal and I just carried out his intentions. When you get a nice foal it works out.”