The market for ready-made racehorses demonstrated considerable strength Nov. 14 at the Keeneland November Horses of Racing Age Sale, where average and median each rose more than 50% year-on-year. Despite 56 fewer horses sold, gross stayed very similar to last year at $8,620,500 for the 106 horses that changed hands, including post-ring sales.
"That was very vibrant from the very get go," said Keeneland's vice president of sales Tony Lacy. "Every year has a little bit different dynamic, but there was very little weakness in that market, with almost a 90% clearance rate. The median jumps 66%, the average jumps 60%, that's seriously strong."
With 117 outs, that left 119 head to go through the ring generating $8,620,500 from the 106 horses sold. The average was $81,325, up 56% from 2023, with a median of $47,500, an increase of 58%. An 11% RNA rate represented the 13 horses who failed to meet their reserve.
The sale was highlighted by the sale of horses from the estate of the late John Hendrickson. Gainesway handled the consignment of the estate's eight horses who sold for a total of $1,807,000.
Alyeska, a 2-year-old daughter of Vekoma , topped the sale at $675,000, selling to Steve Young, agent for an undisclosed client. Young purchased two other horses from the dispersal offering, including Hip 4086, Captain Cook, a juvenile colt by Practical Joke for $410,000, and Hip 4131, Girdwood, an unraced son of McKinzie for $200,000.
KING: Hendrickson Estate Juveniles Bring High Dollar
Young was the leading buyer of the day with five purchases totaling $1,342,000.
"I think there's a value in legacy pedigrees," said Keeneland's director of sales Cormac Breathnach. "They were sought-after, not just because there's no reserves in dispersals but because you're getting a piece of someone else's legacy. And, who better than Marylou Whitney and John Hendrickson's program?"
"When you have the horses of racing age sale, each year is different. Some years are stronger than others. There are a lot of scratches but the ones that are left are very nice horses," said Young.
ELiTE was the leading consignor with 32 horses sold for $2,450,000. Vekoma led sires by gross totals with two 2-year-old fillies sold for a combined $815,000.
Last year's sale saw 162 horses change hands for a total of $8,454,000, including post-ring sales. The average was $52,185, with a median of $30,000. Twenty-three horses failed to meet their reserve, resulting in an RNA rate of 12% in 2023.
"It shows the demand for quality stock, and really appreciate the people that supported us with this," said Lacy. "It goes to prove, when you get the right environment, this is the right place to do it. I think the sellers were extremely happy, and the buyers were delighted to get the horses they got."
Breathnach echoed: "A lot of international buyers still here. They stayed all the way through the Breeding Stock Sale. They're still here buying, and you've got people like Mike Trombetta, was very active for Larry Johnson. You've got Steve Young who was very active. A lot of domestic, powerhouse players as well. A really, really fun sale. And, kind of one of those sales you wish could've gone on a couple more hours."
