INDUSTRY heavyweights set a strong pace when the Keeneland September Sale opened on Monday and maintained momentum over the next three days to set a record number of seven-figure sales at 65.

Following the completion of Book 1 and 2, sales totalled $307,639,000, which represented a 3% increase from the corresponding stage 12 months ago.

The average price rose by 9.61% to $502,551 and the median grew by 2.86% to $360,000, all positive indicators that the 2026 sale could better the records set in 2025, which was the highest-grossing thoroughbred sale of all time.

The steeper rise in average compared to the median price suggests that growth was higher for the most elite horses, and the market’s selectivity also showed in the clearance rate, which dropped marginally.

These contrasts were evident in Keeneland’s debriefs over the first four days, with Keeneland Vice President of Sales, Tony Lacey saying: “The appetite for quality horses is extremely high. We saw the number of seven-figure horses reach 10 to bring us up to 65 for the sale, which blew past our old record from last year of 56. It’s a significant benchmark. It just shows that there is a strong focus towards those top horses.”

Keeneland Senior Director of Sales Operations, Cormac Breathnach commented: “There certainly have been several highlights for some people, and a little selectivity in the market too. Our RNA rate blended over Week 1 was 30% - up three points from last year. That’s something we want to see improve and we’re trying to figure out ways for that to come down a little bit.”

There are another eight days of trade to go, but the $3,700,000 paid by M.V. Magnier and Peter Brant’s White Birch Farm for an Into Mischief half-brother to Hollywood Derby hero Mo Town is unlikely to be topped.

The result continued a fantastic sale so far for John and Tanya Gunther’s Glennwood Farm, having sold a half-brother to Justify for $1,900,000 the previous day. The father-and-daughter team bred the current top lot out of their home-bred Bernardini mare Grazie Mille, making him a half-brother to dual stakes winner and multiple Grade 3-placed mare Justique, who sold to Whisper Hill Farm for $2 million last year.

Family affair

Following the mare’s most successful sale to date, John Gunther reflected: “He was just a big, strong colt, tremendous walk and a great presence on him. Everybody loved this one. I wanted to stay in, of course, but that’s not going to happen on this one.

“He’s in good hands now and they mentioned that he’s going to stay in the U.S., so that makes me feel really good, as well.”

Tanya Gunther had mixed emotions after selling a half-brother to Justify for $1,900,000 the previous day. The Gun Runner colt, who is a half-brother to three stakes winners overall, was knocked down to Ron Winchell, who raced Gun Runner himself with Three Chimneys.

“He’s such a nice-looking colt, so well bred and I didn’t want to sell him,” Tanya Gunther explained. “I’m proud of him, but also wish we could keep a horse like that. He did well; he’s such a champion. It’s a mixture of pride and regret having to sell a horse like that, but I’m proud of him.”

Another relation to Justify provided Glennwood with their third seven-figure sale of the week, when knocked down to Chad Summers for $2,000,000 on Thursday. The chesnut is out of a half-sister to Justify (Scat Daddy) and is bred on similar lines, being by Not This Time, himself a son of Giant’s Causeway.

Blown away

Summers reported his purchase was bought on behalf of Al Gold’s Gold Square and explained that the consignor was part of the colt’s appeal. “We felt like we got a good value from Glennwood last year, so we tried to buy from them this year,” the agent said.

“He’s a really special horse; they know how to raise a really nice family. John and Tanya do a great job. We felt like obviously they know what they’re doing. They’ve had Justify, they’ve had Vino Rosso - the list goes on and on of horses that they’ve raised.”

Despite the Gunthers’ previous success, John was lost for words following their third seven-figure sale of the week. “I don’t know what to say,” he told the press.

“He was a lovely colt. He’s got that hip like Not This Time. I didn’t expect (the sale price); the reserve was much, much lower, but I know a lot of people really liked this colt. It’s hard to believe - $2 million - but it’s wonderful.

“I’m short of breath thinking about it. I might have to sit down. It’s so wonderful for my daughter. Tanya works so hard, and the staff is just fantastic. Every part of the Glennwood team is unbelievable.”

The Gunthers are a familiar name on these shores, not just for their graduates’ success, but having also raced St James’s Palace victor Without Parole, now a Group 1 stallion at Newsells Park Stud.

They enjoyed less success in the UK with their Siyouni mare Love And Thunder, but gained a Grade 3 win after moving her to the Chad Brown stable and on Tuesday, her second foal - a Gun Runner filly - brought $625,000 from Eurowest Bloodstock. Her first foal, a Justify filly, sold to Hugo Lascelles for $925,000 12 months ago, but has yet to run.

AMO Racing’s first purchase of the week, a $125,000 filly bought outside the ring, went under the radar, but Kia Joorabchian was firmly in the spotlight when securing a Gun Runner colt for $3,100,000. The full-brother to dual Grade 1-scorer Locked, who began his stallion career at Gainesway this spring, was the most expensive of four purchases made by Amo for a total of $5,060,000.

“We loved him from the get-go,” Ben McElroy said after signing the docket. “Obviously by a sensational sire. His full-brother is at stud, so we are hoping for the same result. This horse made a ton of sense.”

Reiley McDonald, whose Eaton Sales consigned the colt, added: “He is an absolute specimen of a horse. I don’t know if I have ever seen a better Gun Runner. He has a fluid, strong, easy stride and a great mind.”

Eaton Sales sold three of their four offerings at Book 1 and, reflecting on trade, McDonald commented: “This is an incredible market on the high end. It has been unbelievable at the top. When you have this many horses going for seven figures, it creates a lot of atmosphere. Everybody is looking and everyone is saying, ‘who’s that?’ That creates a lot of excitement. It has been a fun couple of days.”

Sharp start

Gun Runner colts commanded the two highest prices at Monday’s opening session and accounted for five of the top 10 lots, led by Four Star Sales’ full-brother to Grade 3 performer French Blue.

Mahmud Mouni gave $2,800,000 for the Three Chimneys Farm-bred bay on behalf of Tagermeen Racing, a group of five Libyan-based owners, who plan to send the session topper to Chad Brown, trainer of his well-regarded two-year-old full-brother Bletchley, who is due to debut on Friday.

“We are so excited,” said Mouni, after signing as RTM Racing. “We love it because we put this colt in our plans two days ago. Honestly, we were not expecting (to spend) that much, but that’s what the horse deserves. Our dream is the Kentucky Derby.”

On the market, Mouni commented: “It is very hot. The market has been increasing for two years. Honestly, we were shocked. All the prices, we did not expect. If you (bid on) one for a million, you get it for $2 million. All the horses in Book 1 deserve what they go for. High-quality pedigrees and conformation are everything.”

Bletchley cost $1,550,000 12 months ago and Four Star Sales had high expectations that Monday’s offering would follow suit, according to Kerry Cauthen. “The reserve was a million, so it was quite fair,” he said. “We all thought we would possibly get two (million).”

Bullseye

Gun Runner was a clear winner of the Book 1 sire standings, after 28 yearlings sold for a combined $29,080,000. The same number of yearlings by his nearest rival Not This Time totalled $22,085,000, though the gap narrowed significantly over the course of Book 2, by which stage Not This Time’s 52 sales grossed $37,492,500 and Gun Runner’s 46 totalled $39,795,000.

Coolmore have done well - to put it lightly - with the Three Chimney Farm sire, thanks to the likes of Sierra Leone, and made a strong bid to continue their luck when purchasing three colts with White Birch Farm on Monday for a total of $5,200,000.

At $2,300,000, the most expensive of the trio was Darby Dan Farm’s half-brother to multiple Grade 1 winner Colonel Liam. Training plans have yet to be decided for the late April foal, except that he will remain in the U.S., MV Magnier revealed.

“He was a very nice horse,” he added. “All the lads liked him. Peter Brant liked him. It’s a great pedigree from a very good farm. We haven’t decided where he is going to go, but he will stay in the U.S.”

Magnier and Brant stated their intentions at an early stage, giving $1,400,000 for Hip 17. The Gun Runner colt became Seeking Gabrielle’s fourth seven-figure yearling since Hinkle Farms bought her for $100,000, months after she foaled a colt that would become the top-class Nyquist.

The same buyers later gave $1,500,000 for a Gun Runner half-brother to dual Grade 1-scorer Paradise Woods, and to the dam of another top-level winner. He always had star quality, according to Allaire Ryan of consignor Lane’s End.

“He’s been a really special colt,” she reported. “He’s been an impressive individual from day one - one of those horses that carries himself with so much class and composure. He showed himself so consistently up here. He was really well received by the market, and everybody’s really pleased with the results.”

M.V. Magnier and Peter Brant’s White Birch Farm ended Book 1 as leading buyers, after spending $10,150,000 on a quintet of seven-figure colts. Travis Boersma’s Flying Dutchmen, fresh from splashing $21,625,000 at the Fasig-Tipton Saratoga Sale, sat second with a spend of $8,725,000, which reached $10,135,000 by the end of Book 2.

Two of their purchases were by Into Mischief, sire of their first Grade 1 winner, but their highest bid of $2,600,000 was for a colt by Flightline. Lane’s End Farm’s top-class recruit began his stallion career at $200,000, dropped to $150,000 and commanded $125,000 this past season.

The son of Tapit currently sits fifth in the first season sire championship, but given that the unbeaten bay didn’t run at two, it’s widely expected that the best is yet to come. His runners include debut second Powerline, who is a full-sister to the Flying Dutchmen’s most expensive purchase, consigned by Lane’s End on behalf of Summer Wind Equine.

Bought for export

Japan’s J.S. Company came away with three pricy purchases on Monday - their only purchases of the week so far - led by a Not This Time colt costing $2,100,000. Gainesway consigned the half-brother to Blue Grass Stakes victor Tapit Trice, who is out of a stakes-winning half-sister to champion two-year-old filly Jaywalk.

Yoshito Yahagi will train the colt on behalf of Yosuke Imafuku, who purchased a Not This Time filly from Taylor Made Sales Agency for $850,000 earlier in trade. The granddaughter of champion racemare Ashado is the third foal out of Allende, who was bought by Albaugh Family Stables for $52,000 in January 2023.

At $1,700,000, J.S. Company also signed for the most expensive offering of the day by Flightline. The Paramount Sales colt is the first foal out of Chasing Summer, a half-sister to Breeders’ Cup Classic hero Accelerate.