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Will the new legislation mean that they can't lay off with overseas providers? Or will they be exempted from that? -
By Wandering Eyes · Posted
by Jessica Martini & Stefanie Grimm Lexington, Ky – The Keeneland January Horses of All Ages Sale concluded its three-day run Wednesday in Lexington with figures largely in line with its four-day 2024 edition. Through three days, 685 head grossed $33,444,900 for an average of $48,825 and a median of $22,000. The average increased 6% and the median rose 47% from last year's four-day sale when 831 horses grossed $38,330,300 for an average of $46,126 and a median of $15,000. The buy-back rate was 26.34% this year compared to 22.84% a year ago. “I think it was a good sale,” said Keeneland's Senior Director of Sales Operations Cormac Breathnach. “I think we have to look at it in the context of the different format. So if you look at the through-the-ring numbers from last year's four days to this year's three days, we had a much higher median. It was just $22,000 from $15,000, but significant, showing the lower end of the market had some substance to it. The RNA rate was a tick up. The average was up a tick. We offered about 14% fewer horses and we are down 14% on gross. So really things were in step with last year.” Post-sale transactions saw 38 horses sell for an additional gross of $1,681,000, bringing the total auction gross to $35,125,900 for an average of $48,584. In 2024, 33 post-sale transactions sold for $2,289,000 for a total gross of $40,619,300 and an average of $47,013. That steadiness of the market is a positive for the industry, according to Keeneland Vice President of Sales Tony Lacy. “What is encouraging is that there is nothing overheating or depressed,” Lacy said “It's very steady and consistent. The sellers, for the most part, have been very happy with the way the market has been. It's fair. It's very fair. And you can't ask for more than that. Consistency is the key. Increases are great, but consistency is very important.” Hip 1301, Lil Drummer Girl | Keeneland Lil Drummer Girl (Street Sense), a 3-year-old unraced broodmare or racing prospect (hip 1301), brought the top price of Wednesday's session when selling for $200,000 to Iapetus Racing. Consigned by Denali Stud on behalf of River Bend Farm, the filly is out of Beat the Drums (Smart Strike) and is a half-sister to graded winner Dynamic One (Union Rags). “[The market] was solid for the catalogue that was here,” said Mark Taylor of Taylor Made Sales Agency. “Quality maiden mares are very difficult to buy. We had a lot of clients that were shopping for those. There was a mare that just brought $200,000 and we followed her up. We thought maybe she was going to bring half of that. Then we thought maybe she was going to be 75% of that. And then she ended up bringing $200,000.” Taylor continued, “As far as the mares are, you see the shrinking foal crop. And one of the reasons you're seeing the shrinking foal crop is the carrying costs and the upkeep of these mares that are under $75,000, it's not making sense [financially] for a lot of people. So there's this flight to quality. And even in our own customer base, we're having customers that used to buy those kind of mares. Now, instead of buying a mare for $100,000, they'd rather partner with some people and buy a leg of a mare for $100,000 and buy a $400,000 mare. I think the carrying costs are really what's keeping the market a little depressed at those lower levels.” Hip 951 in the ring | Keeneland Short yearlings by Tiz the Law topped the third session of the January sale, with a colt by the Coolmore stallion (hip 912) consigned by Hunter Valley Farm bringing a final bid of $160,000 from Najd Stud and a filly by the GI Belmont Stakes winner (hip 951) consigned by Mulholland Springs selling for $110,000 to Dixiana Farm. Najd Stud, the breeding and racing operation of Prince Faisal Bin Khaled Bin Abdulaziz, purchased 17 head at the three-day sale for a gross of $696,000 and an average of $40,941. The Saudi operation, fourth leading buyer at the auction, led a deep bench of international buyers who worked through snow, ice and frigid temperatures to participate in the sale. “There were a lot of international buyers,” Lacy said. “More so from Europe than we've seen or expected, and great participation from the Middle East, and Australia. There was activity from Japan. There was great, broad-based support, which is great. The weather didn't stop anybody. It obviously adds a little extra challenge, but it didn't stop anyone from being here. I want to thank our crew and consignors and agents who went out there and worked the sale because it was a little challenging leading up to it just to get the place ready. We are just really proud of the crew that got the grounds ready and the consignors and agents that got here.” Through three days, 360 short yearlings sold at this year's January sale for an average of $44,055 and a median of $25,000. A colt by Tapit was the auction's top-priced yearling when selling for $400,000. During the 2024 January sale, 382 short yearlings sold through the ring for an average of $38,866 and a median of $12,000. An additional 22 were post-sale transactions, bringing the average to $37,774. Three yearlings sold for $400,000. There were 48 six-figure yearlings in this year's sale, compared to 42 in 2024. Keeneland's Cormac Breathnach and Tony Lacy Wednesday | Keeneland “I think the single biggest positive was the yearling market was really tough to buy in,” Breathnach said. “There are a lot of reasons to feel good about the yearling market for next year based on what we saw here. That plays into the international participation because we hear from people from other countries who are interested in diversifying into pinhooking and different opportunities in the U.S. because the market has been solid and the racing product and purses are good. It all feels like it has positive momentum. And there are always ways to find value in the market. It's a very large market here and they like that.” Both consignors and buyers continued to remark on familiar themes in the January market. “It's the same trend as usual,” said Gabriel Duignan of Paramount Sales. “The ones they are on are selling good, but the bottom end is sticky. It's a January sale and it's probably what I expected. It's not easy to buy and it's not easy to sell. If you follow one up that you really like, there is a lot of competition. If you are trying to sell one that isn't hitting, it's tough going and you better be realistic. I think that's where we are.” Asked for his impression of the market at Keeneland this week, bloodstock agent David Ingordo said, “We weren't shopping that hard, but we always look. I thought anything that was perceived to be quality brought a good price, so I don't think it's a lack of interest. Short yearlings were tough to buy. There was a lot of interest in those. The mares, it wasn't the deepest catalogue we've ever had in January, so what was good brought prime plus and broodmare prospects that you could breed to what you wanted, or if she was in foal to a nice horse, it brought good money. I just think this was a good sale to move some horses along.” The post ‘Consistency Is Key:’ Keeneland January Sale Produces Steady Results appeared first on TDN | Thoroughbred Daily News | Horse Racing News, Results and Video | Thoroughbred Breeding and Auctions. View the full article -
They need the tote pools to be high enough to make it viable and as they have successfully cannibalised the tote it probably is a Saturday event and even then only on the bigger days. An example would be where they are up to lose 60K on one horse in fixed odds but the tote pool is only 40K. Bottom line is the tote punter is the one most at risk That I do not have an answer to other than; UNLESS it is inhouse arbitrage -
By Wandering Eyes · Posted
Vlad Duric. (Photo by Ross Holburt/Racing Photos) Vlad Duric is set to have his first ride in the Magic Millions 2YO Classic (1200m) on Friday, partnering with the Donna Stanbridge-trained Secret Sort in the prestigious $3 million event. The Victorian-born jockey, who spent nearly 15 years in Singapore, returned to Brisbane last year. After dealing with a persistent knee injury, he has recently resumed riding. “I took three months off with my knee problems,” Duric explained. “It took a little while to get up to fitness again, to be honest, being that little bit older, and I don’t really want to be having that long off again. “But in the last couple of weeks, I’ve really tightened up and I’m starting to feel really bouncing and good, which is great.” Secret Sort broke his maiden at his second start in November, followed by a third-place finish in the Listed Phelan Ready Plate (1110m) and a fourth in the Group 3 BJ McLachlan Stakes (1200m) on December 21, where Duric was in the saddle. Reflecting on the latter performance, Duric said, “He’s very fast out of the machine. He showed a lot of speed at his first few starts, but they wanted me to ride him from behind the other day. “He got into that position nicely but then got stuck back on the inside and didn’t get a lot of room in the straight.” Describing the young colt, Duric added, “He’s a very well-educated, bombproof two-year-old, but he’s just a little on the small side, so that’s the only thing with him. “But he’s going to make his own luck and be there, and you know he could definitely pick up a fat end of the cheque.” Horse racing news View the full article -
By Wandering Eyes · Posted
Stud TNT's dominating maiden winner Running Away tackles black-type company for the first time in the $125,000 Busanda Stakes at Aqueduct Racetrack.View the full article
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