Keeneland’s September Yearling Sale concluded its record-breaking run on Saturday with total sales through the ring of $411,749,500 to be the highest-grossing Thoroughbred auction in the world.
The average of $150,548 is a September Sale record, while the median of $70,000 equals the record for a September Sale. Fueling the dynamic results was competitive trade among the world’s most prominent buyers, driving the sale of 36 seven-figure horses (including one sold privately) for the most since 2005 and the purchase of a son of Curlin for $5 million – the highest price for a colt at the auction since 2006 and the most expensive horse sold at public auction this year in North America.
The record gross for the 12-day auction, held Sept. 9-21, bested the previous record of $405,495,700 set during the 2022 September Sale.
This year’s gross represents a 4.47% increase over $394,127,900 when 2,754 horses sold through the ring at last year’s 12-day sale. A total of 2,735 horses were sold this year.
Average price of $150,548 rose 5.20% over last year’s record $143,111. On Day 2 of the 2024 sale, the average of $611,038 established a September Sale session record, besting the previous mark of $589,814 from the same session in 2006.
Median price for the entire sale of $70,000 increased 4.48% from last year’s $67,000 and equaled the record of $70,000 set in 2022.
Additionally, as of Sept. 21, 153 horses that did not meet their reserve price in the ring were sold privately for a total of $16,050,000 to push gross sales to $427,800,000. Total sales including yearlings sold privately exceeded the record of $418,353,700 set in 2022.
“The September Sale truly is the world’s marketplace,” Keeneland President and CEO Shannon Arvin said. “We thank everyone who participated, especially the breeders and sellers who presented an exceptional group of yearlings and the buyers who responded enthusiastically to the quality. “Keeneland shares their confidence in the sport, and that’s why we adhere so strongly to our mission to reinvest in racing and sales, which go hand in hand,” Arvin said. “The construction of the Paddock Building and the improvements to the Sales Pavilion, along with the enhanced hospitality and amenities, are all done with the goal to provide our customers, both now and in future generations, with the best environment possible for success.”
“The energy here was at times reminiscent of another era,” Keeneland Vice President of Sales Tony Lacy said. “When we were on inspections earlier this year, we saw quality and consistency among the crop, and it gave us a lot of excitement. And when the horses showed up at the sale it verified our expectations. The market was very broad based. We saw new faces and welcomed back people we haven’t seen in years from all over the world who returned because of their confidence in the U.S. industry and Keeneland being a global marketplace.”
Among the contributing factors cited for the renewed confidence in the U.S. industry are rich purse levels across the country driving demand for racehorses; the success of American-bred horses racing around the world; and stronger medication regulations at race tracks and auctions.
“Seeing new people coming into the sport and investing significant amounts of money these past two weeks is a great sign of an upward swing in the sport,” Lacy said. “We feel people also see where our vision is going forward for Keeneland. We made improvements in the Sales Pavilion to make our customers feel more welcome, to create a better environment and to make us feel more approachable. When horsemen see our massive investment in the construction of new buildings, in the facility and in the industry in general, they see we are ambitious about the future, not just for one sale or one decade, but from a generational perspective. We are very optimistic.”
In addition to the record results, key metrics evidenced the unprecedented strength of the September Sale market and the depth of diversity among consignors and buyers:
- 36 horses sold for $1 million or more, second only to the 40 sold in 2005
- The 36 seven-figure horses were purchased by a record 24 different buyers
- 185 horses sold for $500,000 or more versus 168 in 2023
- 48 different consignors sold a horse for $500,000 or more
- 96 different buyers spent $1 million or more during the sale, compared to 82 last year
- Buyers representing 31 countries purchased horses
“We are very pleased with the sale; hats off to the breeders,” Keeneland Senior Director of Sales Operations Cormac Breathnach said. “The most gratifying thing for us is to see buyers from 31 countries who have bought from the September Sale catalog. Twenty-four different buyers bought the 36 seven-figure horses, which is a record in terms of the number of individual people who have participated at that level, both international and domestic. That’s the market we try to provide the people who support us. There is a lot of effort by our team to pay back the people who send us these beautifully prepped and well-bred and well-raised athletes.”
