The Keeneland November Breeding Stock Sale forged onward with a strong third session Nov. 7 in Lexington, topped by the $900,000 sale of a half sister to multiple grade 1 winner and recent Breeders' Cup Filly & Mare Sprint (G1) runner-up Society.
The biggest news of the day was the market's continued positive reception to this year's first-crop weanling sires and a steady rise in median price for all hip types, which at $120,000 registered a 9.1% increase from $110,000 at the corresponding session last year.
Keeneland reported 236 horses sold from 286 offered, for total sales of $35,538,500 Thursday. There were 21 fewer horses offered than last year, but total sales were still able to avoid a drop. Average price increased 0.9% to $150,587.
Thursday's session ended Book 2 of the five-book sale. Through three days, Keeneland has produced a 1.5% decrease in total sales, a 1.3% decrease in average price, and a flat median. The small drop in total receipts is more than accounted for by 51 fewer offerings (-6.3%). (BloodHorse sale statistics include private sales.)
"It was really solid today. I know we use that word quite a bit, but it was very competitive," said Keeneland vice president of sales Tony Lacy. "I was speaking to a lot of buyers out there that were finding it very difficult to buy the foals that they liked, and the young mares were very competitive in the market.
"I followed up a few myself, just out of interest, and they were bringing probably 30%-40% more than I would have expected them to bring, which was great. It just shows the demand for that quality through the market. It's really encouraging. When the right ones come up, they're all over it."
Thursday's buyback rate of 17.5% was an improvement from 22.5% at last year's session. Through three days the RNA rate of 20.5% is almost five points lower than 25.4% at this time a year ago.
Cormac Breathnach, Keeneland's senior director of sales operations, liked what he saw particularly in the median and RNA rate.
"That's what we look for more than anything—significant improvement in the median—and the RNA rate though the ring is four points lower than last year through two books," Breathnach said. "Those are the best indicators of a healthy marketplace."
The top-priced weanling Thursday was Hip 1050, a Life Is Good colt that sold to Flying Dutchmen for $400,000. He was consigned by Taylor Made Sales Agency, agent for the colt's breeder China Horse Club, who also campaigned the ultra-talented multiple grade 1 winner with WinStar Farm, where he now stands.
First-crop weanling sires dominated the market Thursday, accounting for six of the top seven prices for weanlings. Based on market response thus far, this could be an above-average group of new stallions.
"I think the demand for first-crop sires is always high, but it's true, by entry stud fee level and some of the glitz and glamour that came with this class, it looks deep," Breathnach said. "There are several really, really well-credentialed first-crop weanling sires this year, and they're obviously throwing very good physicals, because people are responding."
Session Topper
William Shively signed the ticket at $900,000 for Hip 983, Finesse, on behalf of his Dixiana Farm. The unraced 3-year-old Street Sense filly out of the winning Tapit mare Etiquette was offered in foal to Nyquist .
Her half sister, Society, by Gun Runner , was one of the best female sprinters of 2024. She counts the 2022 Cotillion Stakes (G1) and the 2024 Ballerina Handicap (G1) among her four graded wins. Warrendale Sales, agent, consigned Finesse, herself a $725,000 Keeneland September Yearling Sale purchase for Windancer Farm.
Shively was attracted by Finesse's conformation, her female family, and the year her covering sire Nyquist has had, which included four grade 1 winners, led by undefeated Breeders' Cup Juvenile Fillies (G1) winner Immersive. Nyquist's stud fee, which was $85,000 this year at Darley near Lexington when Finesse was covered, will increase to $175,000 for 2025.
"It's very hard to buy a good horse, right? I would have gone a little more, but don't tell anybody," Shively said. "It's what we're for at Dixiana, just real quality. I think she'll be great for a long time.
"I've shopped a lot, and not bought much. Part of it is, how many good horses are there? And the good ones bring a lot of money. Now it's to the point where you have to spend a little more money to get a few good ones. It's just the way the world is right now."
Shively said he has about 50 broodmares at his Lexington farm that he describes primarily as a commercial breeding operation. He said 2025 mating plans for Finesse would be finalized after he sees the Nyquist baby.
"If (Finesse) has a nice Nyquist filly, she'll probably be racing for Dixiana," Shively said.
The Keeneland November sale continues at 10 a.m. ET Nov. 8 with the start of Book 3.
