The November 2007 Breeding Stock Sale raised $340,877,220 over 15 sessions, including horses in training. The November Horses of Racing Age Sale became a standalone auction in 2022.
Records were set at both the mean and median, with the average up 37% from last year’s sales of $91,011 to $124,444, and the median up 50% from $40,000 to $60,000. Four hundred horses did not meet their reserve, resulting in an RNA percentage of 16.8%
“This year marked a turning point for Keeneland Sales,” said Shannon Arvin, president and CEO of Keeneland. “From a record-breaking yearling sale in September with gross sales in excess of $500 million to the continued momentum towards an excellent brood sale in November, confidence in this market has never been stronger.”
Eighteen horses sold for $1 million or more, the most since 2017, including one horse for seven figures on Day 2 – a feat not achieved since 2022.
“It was remarkable,” said Tony Lacy, Keeneland’s vice president of sales. “To be quite honest, we were hoping this would be a good, solid sale. We felt the quality was there and we had a good group of horses that would suit a large group of people. We were very pleased with the number of buyers who turned up – especially the international contingent – and we saw a lot of people here who we haven’t seen for a number of years. It was very encouraging to see people getting energized to come back.”
“But what was really encouraging was to see that the domestic market was so strong when it came to retaining many of these more expensive mares and preserving the gene pool,” Lacy added. “The weanling market was also exceptional, and I think that made breeders feel motivated and positive about their plans to breed mares for next season and into the foreseeable future.”
The highest priced horse at the auction was a Grade 1 winner Luscious lips which raised $3.7 million on the first day of the Dixiana Farms sale. She was consigned by Taylor Made Sales Agency, the main consignor of the sale, and sold 258 of their change for gross proceeds of $42,172,400.
“It doesn’t seem realistic to have a horse that won the QE II at Keeneland sold here and fetch $3.7 million,” said Phillip Shelton, race manager of Medallion Racing, which raced with Lush Lips. “All the stars aligned, and credit to the team at Keeneland. Every major buyer in the world was looking at her. There were a lot of major buyers lining up and not being able to bid because she raised so much money. Just an incredible feeling.”
The most expensive example of the auction also came on Day 1 when Donato Lanni, agent for Zedan Racing, went for $2.2 million for a son of Rifle runner . The foal, consigned by Denali Stud, agent, as Hip 146, was the most expensive weanling foal sold at the November Sale since 2015. He was bred in Kentucky by Three Chimneys Farm and Brookdale Racing, and is out of the Grade 1-winning Scat Daddy mare Nickname.
Wesley Ward purchased the most expensive weanling filly of the sale for $1.25 million. The daughter of Curl described as Hip 82 by Hill ‘n’ Dale in Xalapa, is an agent of the multi-level producer Galloping Ami. She was bred in Kentucky by Tall Oaks Farm and The Curlin Syndicate.
The Curlin filly was consigned to the ring as Hip 82 at the Keeneland November Sale
Fifty-eight youngsters sold for $300,000 or more, compared to 28 last year. Jaap was the leading sire of weanlings gross with $7,449,000, including post-ring sales.
The November sale included numerous spreads and discounts, including the DJ Stable Curated Reduction, which resulted in a sale of $6.4 million for 31 horses, including after-ring sales. Sputnik, a 4-year-old mare pregnant with a top sire Curl was the highest seller of the group with $800,000, sold to Raging Torrent Syndicate. She was sent by Hill ‘n’ Dale to Xalapa, agent. Taylor Made Sales Agency took care of the stable’s other offerings.
Raging Torrent Syndicate was the largest buyer of the sale with five purchases totaling $5,225,000.
“I would be lying to you if I expected that we would sell all 100% of the horses we put up for sale and sell for about 33% more than what our estimates were,” said co-owner Jon Green.
“The horses we put in, they went to very different programs,” Green continued. “Each of our horses had a unique buyer, ranging from domestic farms to international farms. We have mares that literally go all over the world. We have two mares that go to Japan and one mare that goes to Australia. That speaks volumes to me, not only from the regional breeders, breeders from central Kentucky, but from breeders from all over the world who came to Keeneland hoping to buy horses and ended up on mares in our shipment.”
During the final two sessions of the auction, which took place on November 11, a total of 240 horses were registered, grossing $3,203,400, including post-ring sales. The average was $13,348, with a median of $9,000. Judicial Ethics topped the day with $180,000 and was sold to Sylvie Racing. The 3 year old Constitution filly was offered as a broodmare by agent Lane’s End.
“The September market was remarkable with a jump of about 25% from last year, which was also a record,” said Cormac Breathnach, Keeneland’s senior director of sales operations. “That has led to reinvestment. Pinhookers have been aggressive in replenishing stock for next year’s yearling market, and breeders see a lot of value in mares with attractive commercial matings. The September Sale drove much of the gain over the November Sale, which is encouraging because this is how you want the industry to work: people continue the cycle and make money along the way. Fortunately, 2025 has been a good year in that regard.”
Keeneland’s Horses of Racing Age Sale begins on November 12 at noon ET. As of Tuesday evening, Keeneland had reported 87 zeros.
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