The mixed sale concludes wednesday with strong figures and a wide array of domestic and international buyers
LEXINGTON, Kentucky (Special to Turf Diario) – Keeneland’s January Horses of All Ages Sale concluded this Wednesday after three days of steady trade that delivered solid results, underscoring continued demand for quality offerings and confidence in the yearling market. The sale was headlined by three horses achieving the top price of $700,000: broodmares Delahaye (Medaglia d’Oro) and Pretty Birdie (Bird Song)—the latter in foal to Argentine star Candy Ride (Ride the Rails)—as well as Love to Shop (Violence), offered as a racing or broodmare prospect. This year’s auction spanned three days, down from four in 2024.
Gross sales reached $33,444,900 for 685 horses, reflecting a 13% decrease from last year’s $38,330,300 gross for 831 horses. However, the average rose 6% to $48,825 from $46,126, while the median jumped 47%, from $15,000 to $22,000. The RNA rate increased slightly to 24%, compared to 20% last year.
Additionally, by the close of the final session, 38 horses that initially failed to meet their reserve prices sold privately for a combined $1,681,000, bringing the gross total to $35,125,900.
"Overall, it was a good sale," said Cormac Breathnach, Keeneland’s Senior Director of Sales Operations. "We must look at this in the context of different formats. Comparing last year’s four-day sale to this year’s three days, we see a much higher median—a 47% increase from $15,000 to $22,000—showing more substance in the lower end of the market. The RNA rate climbed to 24% from 20%, and all this activity happened through the ring. We already have 38 horses sold post-sale for $1.6 million, with more deals likely to come. The average dipped slightly with fewer horses offered, and gross sales declined 13%, keeping results largely in line with last year."
Tony Lacy, Keeneland’s Vice President of Sales, highlighted the market’s stability: "It’s encouraging that nothing is overheated; the market is very stable and consistent. Sellers were mostly satisfied. It was a fair market, and that fairness has been appreciated across the board. Consistency is key."
The strength of the January Sale was evident in its deep and diverse pool of buyers, featuring a healthy mix of domestic and international participants. The 16 highest-priced horses sold to 16 different buyers, representing 12 distinct consignors. Notable U.S. buyers included Three Chimneys Farm, Pin Oak Stud, Dixiana, Cherry Knoll Farm, D.J. Stables, Catherine Parke, Calumet Farm, Mike Repole, and Foundation Bloodstock. The sale also drew strong global interest, reflecting Keeneland’s year-round international outreach, with buyers from Europe, the Middle East, Asia, South America, and Australia actively participating.
"There was significant international activity," added Lacy. "We saw more buyers from Europe than expected, alongside strong representation from the Middle East, Australia, and Japan. The winter weather didn’t deter anyone, which was encouraging."
Breathnach pointed to optimism in the yearling market based on the trends observed: "We’re hearing from international players looking to diversify their activities in the U.S. because of the solid and consistent market, strong racing product, and attractive purses. There’s positive momentum here. Buyers are finding value, whether they’re looking to race or breed."
Nathan McCauley, operating under the newly established Foundation Bloodstock, emerged as one of the sale’s top buyers, acquiring 15 mares for a total of $670,500.
"There’s a concentration of quality here," McCauley noted. "This sale offers an ideal opportunity to purchase mares. I came in hoping to buy 10 to 12 and ended up with more, thanks to the catalog’s depth and quality. If you work hard, you can uncover value."
McCauley emphasized the importance of critical mass when building a breeding operation: "You need a certain number of horses in your program to make it viable. For us, the sweet spot is 40 to 60 horses. We were halfway there after November, and now we’ll have a full roster after this sale."
The mix of domestic and international buyers was reflected in the three well-bred mares that topped the sale at $700,000 each.
Three Chimneys Farm purchased Delahaye, a 5-year-old daughter of Medaglia d’Oro who captured the 2024 Old Forester Mint Julep (G3) at Churchill Downs. "It was a very fair January market," noted Kerry Cauthen of Four Star Sales, who consigned Delahaye. "January doesn’t always have the sizzle of November, but overall, the market was very fair."
On behalf of David Nagle’s Barronstown Stud in Ireland, Avenue Bloodstock acquired Pretty Birdie, a 6-year-old Grade 3-winning daughter of Bird Song from the family of champion Bird Town (Cape Town) and Belmont Stakes winner Birdstone (Grindstone). She was consigned by Gainesway, agent for John Hendrickson.
Pin Oak Stud, owned by Jim and Dana Bernhard, paid $700,000 for Love to Shop, a 5-year-old graded stakes winner and Grade 2-placed daughter of Violence. Claiborne Farm consigned the mare.
Pin Oak was the sale’s leading buyer, also purchasing Café Night (Gunite) for $30,000, bringing their total spend to $730,000.
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