EVEN the most optimistic of folk couldn’t have been confident that this year’s Keeneland September Yearling Sale could better the 2025 renewal, which produced the highest turnover of any thoroughbred sale in history.
Plenty has happened in the US and further afield since then, but the bloodstock bubble appears to be largely unaffected, as a new record was set after just nine of the 12 sessions had taken place. Last year’s blockbuster sale ended with an aggregate of $510,539,900 and by close of business on Wednesday, sales had reached $511,680,500.
Fevered demand at the very top of the market has been the main driving force, with the number of millionaire yearlings growing from 56 to 70. The number of yearlings to sell for $2,000,000 or more leapt from five to 11.
On Wednesday evening, Keeneland Vice President of Sales Tony Lacy said: “To already surpass last year’s entire through-the-ring gross with three sessions still to go speaks volumes about the strength of this market and the quality of the horses here.
“None of this happens without the breeders and consignors who bring these horses to Keeneland and the buyers who support the sale from start to finish. We’re grateful for everyone who continues to believe in this marketplace and make it what it is. We’ve still got three days to go, so we’re looking forward to seeing where we finish.”
The highlights of Book 1 and 2 were covered in last week’s edition and since then, another five horses reached the million mark at Book 3, with the $1,500,000 session topper knocked down to Mahmud Mouni.
The Gainesway-consigned son of Not This Time is the first foal out of Ana’s Gun (Gun Runner), herself a half-sister to Breeders’ Cup Juvenile Turf victor Structor and to the blacktype dam of Kentucky Oaks heroine Always A Runner (Gun Runner).
Worth every cent
“It’s really tough to find the horses like him,” Mouni said after signing the docket as RTM Racing.
“He’s amazing, he’s gorgeous, amazing pedigree. I think the horse deserved what he got (price-wise). This horse could be in Book 1, Book 2.”
A filly by Not This Time came close to matching the top price when knocked down to Lauren Carlisle for $1,400,000. The bloodstock agent was Saturday’s leading buyer, spending $2,835,000 on five yearlings.
Her most expensive purchase also marked a sizeable increase in value for the mare’s progeny, but Not This Time has that affect, with his yearlings commanding an average price of $729,777 at this stage of the Keeneland September Sale.
Gun Runner is currently leading the sires’ table by average at $778,483, followed by Into Mischief at $752,625. After Not This Time, there’s a drop to Flightline averaging $594,231 and Curlin averaging $543,810.
Proven sires dominated, but Cody’s Wish made a bright start with 42 yearlings selling for an average price of $305,191, having been bred off a fee of $75,000.
Three-time Grade 1 winner Forte, who debuted at $50,000, has rewarded breeders with a current average price of $191,294, while the first crop by Gun Runner’s dual Grade 1 scorer Gunite have fetched an average of $178,649, from a fee of $35,000.
Sire power was key for Sunday’s top lot, a colt bred when Nyquist stood for $85,000, but has since jumped to $175,000. Donato Lanni gave $1,200,000 for the Four Star Sales offering, which was bought on behalf of FRC, Starlight and Madaket.
On the March-born bay, who hails from the family of Munnings, Tom Ryan of FRC said: “Obviously by a stallion everybody now respects in Nyquist. You’re giving yourself a chance at creating a potential Kentucky sire down the road if he lives up to our expectations.
“It doesn’t really matter what book they come out of if they’re fast enough, right? It’s a matter of having the patience and the team to identify them. I remember we bought a Kentucky Derby winner (Authentic) as Hip 2616 many years ago. We’re a long way away from that still.”
Ryan’s attitude was once again evident at Book 4, where the same partnership secured a Yaupon colt for $825,000. The Runnymede Farm-consigned grey had mixed appeal, being out of a twice Grade 1-placed mare, who has yet to produce a stakes horse from six runners.
Yaupon was the leading freshman sire by earnings in 2025, when he was responsible for 13 blacktype horses, earning him an increased fee of $60,000 this season. His latest yearlings were bred off a fee of $25,000, which is impressive for a young stallion who sired the top two lots at Book 4.
Spendthrift Farm promote their young sire as ‘the fastest son of Uncle Mo’ and Uncle Mo’s Hollywood Derby winner Mo Town appears on the page of the Book 4 top lot, also bought by Lanni, but this time on behalf of Frank Fletcher and Jackpot Farm.
Leading the way
The $850,000 sale continued a fantastic run for John and Tanya Gunther’s Glennwood Farm, who currently top the consignor standings by average with 16 yearlings averaging $691,250 and selling for a total of €11,060,000.
Taylor Made Sales have so far sold a whopping 296 yearlings totalling $67,574,000, followed by Gainesway’s 179 yearlings selling for a total of $57,182,000.
For 20 yearlings bought, the partnership of St. Elias, West Point, Lane’s End Racing and Belladonna have accumulated the largest spend of $16,200,000. Lanni, Donato Lanni, FRC, Starlight and Madaket bought the same number of lots for $11,690,000, while the Libyan owner group of RTM Racing have secured 25 yearlings for $14,660,000.
M.V. Magnier and White Birch Farm’s focus on elite offerings sees them top the buyers’ table by average at $2,030,000. Speedway Stable are next with their sole purchase costing a cool $2,000,000.
European breeze-up buyers have made few appearances on the scoreboard with two days to go, but a challenging season in 2026 means it’s unsurprising, and many opted to be at Tattersalls Ireland rather than Kentucky this week.
Flying Objective’s Flying Childers Stakes win may have spurred on Mick Murphy and Sarah O’Connell, whose Longways Stables sold the Group 2-winning juvenile, as the Co Waterford operation gave $225,000 for a Justify filly out of Matron Stakes winner Legatissimo and $200,000 for a Flightline half-brother to Hootenanny.