AND breathe ...

The global bloodstock market passed its most important health check this week when the opening four days of the Keeneland September Yearling Sale posted significant gains.

The first four days saw 53 horses sell for a million dollars or more. The previous record for the entire two-week sale was 40 in 2005. Total spending over the first three days was up more than 21%, as was the median price of a whopping $425,000.

Bloodstock agent Mike Ryan was one of several high-profile participants to compare the market to the Keeneland July Sales of the 1980s, a time when both Sheikh Mohammed and Robert Sangster went over the $10 million mark to buy a yearling.

What’s behind the surge this year? Well, plenty of people have credited Keeneland for attracting a diverse buying bench but even more important has been the effect of President Trump’s ‘One Big Beautiful Bill’ Act. Passed in July, this piece of legislation included major tax cuts for high earners. Specifically, a recently reinstated provision of the tax code allows property owners and real estate investors to claim a tax deduction equal to 100% of the cost of a qualified business property. Known as 100% bonus depreciation, this is understood to be a useful tool for lowering business tax obligations.

Tom Rooney, CEO of the National Thoroughbred Racing Association, said it “can’t be overstated how important permanent 100% bonus depreciation is to the sport.”

Returning to this week’s sale, a few stallions dominated the top lots - Gun Runner, Into Mischief, Not This Time and the new boy, Flightline.

Coolmore took away the highest-priced yearling from Book 1. Working with long-time partner and businessman Peter Brant and the Winchell family (who founded the Denny’s restaurant chain), Coolmore’s M.V. Magnier went to $3.3 million on Monday to buy a Gun Runner colt consigned by Hill ‘n’ Dale.

Out of Grade 2 winner Thoughtfully, by Tapit, he is from the family of Grade 1 winners Furlough, Dancing Spree and Fantastic Find.

Great sire

“We knew he was a very smooth, very good horse by a great sire who had another Grade 1 winner yesterday (Del Mar Futurity winner Brant) from a prolific female family,” John Sikura of Hill ‘n’ Dale said. “You hope for the best.

“After a million dollars, you’re just watching and hoping,” Sikura continued. “You never know where they’re gonna wind up, but the good thing is, I knew we were strong going in, multiple interests from strong people. After that, you’re just a spectator in the process, and hopefully they all get brave and stay brave (bidding).”

Gun Runner stands at Three Chimneys Farm in Kentucky and his fee is $250,000. Coolmore owns a controlling interest in one of his very best sons, Sierra Leone, and they gave further proof of their love for Gun Runner on Thursday when stretching to $1.55 million for another one of his colts. This one is out of the Grade 3 winner Twenty Carat, a mare by Into Mischief whose first foal has yet to run.

Tuesday’s top lot was also a Gun Runner colt, this one selling to trainer Wesley Ward for $2.2 million. The colt is a full-brother to Preakness winner Early Voting and from the family of Speightstown.

“His pedigree was outstanding, by the hottest sire going right now,” Ward said. “He’s a beautiful colt with a fantastic female family. We look forward to a partnership that we put together with Gonçalo Torrealba and the Three Chimneys team and with a client of mine, Roy Israel, who’s gotten into the business for about a year now. He’s a wonderful guy and it’s a really, really exciting colt to get in with.

“As I’m starting to get the white hair now, I’m looking to get horses that go a little further,” Ward added. “I’ve been centered on fast horses and speed horses, and I’ve decided it’s time now to get some horses into my barn that look like they can go at the classic level and this looks to be the one. I’m excited to get this colt and to get the opportunity to train a horse like this.”

Amo Racing

Amo Racing spent well over $7 million on just nine yearlings over the first three days, and two of them were colts by Gun Runner. Kia Joorabchian’s operation spent $1.6 million on a Gun Runner colt out of Grade 1 winner Dame Dorothy. Amo’s other Gun Runner colt cost $1.05 million and is a half-brother to Grade 1 turf winner Hunter O’Riley.

Leading US owner Mike Repole also grabbed some of the Gun Runner action during the first few days in which he spent well over $10 million on 30 horses.

Tony Lacy, Keeneland’s vice-president of sales, said: “I heard the analogy a couple of times today, but this feels like the July Sale of old, when things were just amazing. I would say the market is realistic with a 30% RNA (reserve not attained) rate, so it was not all easy going. You had to be realistic with your reserves.

“And I think that is a testament to the fact that people are not throwing money at stuff. People are doing their homework. They’re doing what they feel is due diligence, and they’re paying a premium for what they want. Good quality is getting rewarded heavily.”

Cormac Breathnach, Keeneland’s senior director of sales operations, added: “There’s still a great variety of activity here, great variety in the catalogue and pretty much everybody that was here over the weekend is still here and still hunting with money to spend to find fast horses.”

Friday was a ‘dark’ day and the sale resumes on Saturday, running through until next Saturday, September 20th.

AGENTS Ted Durcan and David Lanigan bought a filly for $2 million on behalf of owners Scott and Cindy Heider, who have horses in training with Joseph O’Brien.

The filly is by Not This Time, a stallion by Giant’s Causeway whose best horses to date include turf stars Up To The Mark and Sacred Wish, as well as top dirt sprinter Cogburn and Kentucky Derby runner-up Epicenter.

Consigned by Hinkle Farms, the filly is out of the winning stakes-placed Stave, by Ghostzapper.

“There are two fillies on the page (Surf N Sand and Coco as in Chanel) that we raced and were stakes winners for us,” revealed Scott Heider. “We knew the family, and we really like the Hinkle family. They raise very good horses. We looked at a lot of good fillies in Book 1 and I told (my team), ‘This is the one I want.’ I had no idea we would have to wrestle that hard to get it done.”

Not This Time had two other yearlings in the top 10 highest-priced sales this week, colts sold for $1.7 million and $1.6 million. Amo Racing also bought two Not This Time colts for $1 million and €775,000.

Into Mischief was another leading sire whose stock fetched premium prices this week.

M.V. Magnier and Peter Brant spent $1.5 million and $1.2 million on colts by Into Mischief, hailed as the world’s leading sire in terms of prize money won for the past six years. His progeny include Kentucky Derby winners Authentic and Sovereignty.

The $1.2 million yearling bought this week by Coolmore and White Birch is a half-brother to Belmont Stakes runner-up Gronkowski.