Average, median fall for Keeneland January

The depth and breadth of Keeneland's buying bench produced

22 seven-figure horses at the 2015 November Sale, led by the most expensive

Thoroughbred sold at public auction in the world last year: champion TAKE CHARGE

BRANDI, who brought a final bid of $6 million. Additionally, a filly by War

Front from the family of Take Charge Brandi commanded a North American weanling

record price of $3.2 million. Eleven yearlings sold for $1 million or more at

the 2015 September Sale, topped by the $2.1 million paid for a colt by leading

sire Tapit.

"There is plenty of money for quality," said Mike Ryan, who

as agent spent more than $1 million during the January Sale for various clients.

"People are very shrewd. They know what they want and they're prepared to step

up and buy them."

While the market remains stable, the increasing level of

selectivity among buyers coupled with increasing foal crops in North America and

Europe raise notes of caution from sales officials. 

"Demand remains strong for premium horses, but it's a different story for the

less commercial end of the market," Keeneland Director

of Sales Geoffrey Russell said. "By their selectively, buyers are sending a

clear message that they want quality, commercially viable horses.

"This year, we cataloged an extra day each for our November

and January sales, which translates to more than 600 additional horses," Russell

said. "Keeneland is here to serve the market, and we work throughout the year,

around the world, to provide a marketplace that represents both established and

emerging racing markets. But even the emerging markets have developed to the

point where buyers seek quality rather than quantity. We as an industry don't

want to lose sight of the hard lessons we learned just a few short years ago."

Domestic buyers dominated the 2016 January Sale, a noted

market for young broodmares and broodmare prospects and an increasingly popular

venue for quality short yearlings. Prominent breeder and owner Virginia Kraft

Payson acquired the two highest-priced horses, the half-sisters SUMMER SOLO, in

foal to Ghostzapper, for $700,000, and SUMMER SWEET, by More Than Ready, for

$550,000, both consigned by the Part Dispersal of the Estate of Sarah J. Leigh,

for which Denali Stud was agent. Two yearlings each fetched $450,000: a filly by

Arch, also purchased by Payson from the Leigh dispersal, and a colt by leading

sire War Front, bought by Cromwell Bloodstock from the consignment of Greenfield

Farm, agent.

Payson's three purchases, two made in the name of her

Payson Stud, totaled $1.7 million to make her the sale's top buyer.

During Friday's final session, Keeneland sold 197 horses

for $1,790,100, for an average of $9,087 and a median of $5,000. There was no

comparable session in 2015.

A two-year-old colt by Uncle Mo out of the winning Cashel

Castle mare Amor de Palacio brought the day's highest price, selling for $80,000

to Eico Ventures. The colt was consigned by Brandywine Farm, agent for the

Dispersal of the Estate of Eric A. Delvalle.

For the third consecutive year, and 14th time since 2001,

Taylor Made Sales Agency ranked as the January Sale's leading consignor, selling

92 horses for a total of $4,359,500.

"Keeneland thanks all the consignors and buyers who support

our sales," Russell said. "The breeding season begins soon, and we wish everyone

the best of luck." 

Keeneland's next auction is the September Yearling Sale, to be held September

12-24.