On Wednesday’s third session of the Keeneland September Yearling Sale, 13 horses sold for $1 million or more – led by a $1.9 million Gun Runner colt – to increase the total number of yearlings who have brought $1 million or more at the 2025 auction to a record 48. The number of seven-figure horses today broke the previous third-session record of eight from 2019, and the total topped the 40 yearlings sold during the entire September Sale in 2005. Nine sessions remain in this year’s September Sale.
Cumulative sales for 438 horses sold through the ring are $229,887,000 for a 21.32% increase from the corresponding period last year when 424 yearlings brought $189,482,000. In other cumulative figures, the average price of $524,856 rose 17.45% from last year’s $446,892, while the median of $425,000 was 21.43% above $350,000 in 2024.
On Wednesday, the first day of the Book 2 catalog, Keeneland sold 221 yearlings through the ring for $85,702,000, up 22.58% from the same session last year when 220 yearlings brought $69,917,000. The average of $387,792 was 22.02% above $317,805 in 2024. The median of $325,000 rose 18.18% from last year’s $275,000.
“The day was incredible,” Keeneland Vice President of Sales Tony Lacy said. “We knew it was a really, really good group of horses. A lot of these horses that were bringing big money were ones we were lobbying to get into the earlier sessions. We knew that the firepower was still here, and the money was obviously well represented. It was a pleasant surprise to have 13 horses bring seven figures or more. I’m a little bit speechless. We joked in the back ring that the market was so hot it set the fire alarms off. It was amazing.
“I have to thank the consignors and the breeders for bringing quality here and working with us to craft a sale that is representative of the breed here in Kentucky and around the country to excite buyers,” Lacy continued. “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 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.”
“The 13 seven-figure horses were bought by 11 different buyers, and they’re by 10 different stallions,” Keeneland Senior Director of Sales Operations Cormac Breathnach said. “There’s still a great variety of activity here, great variety in the catalog and pretty much everybody that was here over the weekend is still here and still hunting with money to spend to find fast horses. That’s really rewarding to all of us and to the whole team at Keeneland.”
Spendthrift Farm purchased Wednesday’s $1.9 million seller, a colt by Gun Runner from the family of Japanese champion Danon Decile. Consigned by Hill ‘n’ Dale at Xalapa, agent, he is out of the winning stakes-placed mare Ginja, by Quality Road.
“We had a number of people approach us wanting to partner on it,” Spendthrift General Manager Ned Toffey said. “We thought he was one of the best colts of the sale today. What’s not to like, right? Really, really happy to get him because it’s been a tough market. There’s not anybody stealing much here. Hopefully he can run.”
Racing Hall of Fame trainer Bob Baffert co-bred the colt on a foal share with Gonçalo Torrealba of Three Chimneys Farm, which stands Gun Runner, and he watched him sell.
“I’ve never been in this situation before,” Baffert said. “I’m taking it in right now. I bred Misremembered, who made a million dollars (racing), and now I can say I’ve sold one for a million dollars. Added to my resume. Thanks to Spendthrift and everybody that bid on him. I’m very humbled by this moment. I just thank everybody involved. I’m at a loss for words.”
Mike Ryan, agent, acquired a colt by Curlin for $1.4 million. Consigned by Gainesway, agent, he is out of stakes winner Cherry Lodge, by Bernardini, and from the family of Grade 1 winner and sire Stormello and Canadian champion Curlin’s Voyage.
“He was a duplicate of (Curlin’s champion son and sire) Good Magic,” Ryan said. “He had the same size, shape, color, movement and class. I saw him at Gainesway, and I loved him. He’ll be a 2-year-old (runner), but he won’t be limited to one turn. Good Magic was a very good 2-year-old, and he had the class to stretch on. And (this yearling) is the nicest Curlin I’ve seen in a while. Hopefully I’m proven right. He came from a great consignment that raises a lot of good horses.”
Ryan called the market at Keeneland “incredible. I don’t think we’ve seen anything like this since Keeneland July in the ‘80s with Sheikh Mohammed and Robert Sangster. A lot of good horses in Book 2. Tomorrow’s very strong. With the Dark Day (on Friday with no auction), Saturday’s horses get shopped very thoroughly.”
Gainesway led all consignors on Wednesday with sales of $17,165,000 for 30 yearlings sold through the ring. They included four of the session’s million-dollar horses.
“I thought we had some good horses; as it turned out, it looked like we had a group that was even more competitive than I thought,” Gainesway General Manager Brian Graves said. “So it’s probably a record for us in Book 2.
“It’s just one of those markets where it’s a feeding frenzy for perceived quality,” Graves continued. “The best horses, the ones that rank the highest, can exceed your expectations. And that’s what happened today. We work hard to place them, and it worked out really well this time. We got it right. We would like to thank all of our clients that trust us with their yearlings and make a day like this possible. I am grateful to each and every one of them.”
St. Elias, Albaugh Stable, West Point, Railbirds paid $1.35 million for a colt by Not This Time who is a half-brother to the multiple Grade 1-placed winner Reinvestment Risk. Consigned by Gainesway, agent, he is out of the winning Candy Ride (ARG) mare Ridingwiththedevil and from the family of Grade 3 winner My List.
“By Not This Time – we own the horse – and it means so much to us that we thought this (colt) was the best one, the best Not This Time of the sale,” Jason Loutsch of Albaugh Stable said. “It’s a great cross with Candy Ride (ARG), so we’re really excited for the opportunity to partner up with Vinnie (Viola of St. Elias) and West Point. Couldn’t be more happy to get the colt.”
Two colts sold for $1.3 million each, including a son of Tapit also consigned by Gainesway, agent, who is a half-brother to Grade 1 winner Drain the Clock purchased by Mayberry Farm on behalf of C R K Stable. The colt is out of the Arch mare Manki and from the family of Group 2 winner Communique.
“April Mayberry and her staff, they loved that horse,” Lee Searing of C R K Stable said. “They’ve been looking at him for a couple of days. When it (the price) stopped at $1 million - $1.05 million, we knew it was Spendthrift (bidding against us) so I was surprised they stopped, but it was about where I might have stopped. I just threw a few more bids in there and it worked.
“We bought one horse in Book 1,” Searing said. “Book 1 was more money than I think most people would imagine. Book 2 has always been really good, so we’re here to buy more horses – specifically colts.”
West Bloodstock, agent for Robert and Lawana Low, paid $1.3 million for a colt from the first crop of champion Jackie’s Warrior. A half-brother to Grade 3 winner Taking Candy, he is from the family of Breeders’ Cup Dirt Mile (G1) winner and sire Tapizar.
“We’ve had a lot of luck buying freshman sires, spending a lot of money on them,” agent Jacob West said. “(The Jackie’s Warrior colt) was an incredible individual. Physically, he was right up there with any of the other horses that were in Book 1. He fit the bill of what we’re hoping is a big fast horse that wins a lot of big races.”
“He was a very special horse,” said Peter O’Callaghan of Woods Edge who purchased the colt as a weanling for $385,000 at last year’s Keeneland November Breeding Stock Sale in the name of Bolter Bloodstock. “I overpaid for him at the time for a freshman sire, but I wasn’t leaving the sale without him. He’s just a special individual. The athleticism, the natural strength of him, the conformation were flawless. He had that beautiful head and good expression. If he takes one step, he’s halfway down the lane. Those kinds of horses are hard to come by.”
Two yearlings brought $1.2 million each.
Repole Stable and Delta Squad Racing paid the amount to acquire a son of Not This Time who is out of stakes winner Stageplay, by Curlin. Eaton Sales, agent, consigned the colt, who is from the family of Grade 3 winner She Digs Me.
M.V. Magnier and White Birch Farm spent $1.2 million for an Into Mischief colt who is a half-brother to Belmont (G1) runner-up Gronkowski and from the family of Grade 1 winner and sire Flashy Bull. Out of Four Sugars, by Lookin At Lucky, he was consigned by Hunter Valley Farm, agent.
Blue Diamond Stud paid $1,175,000 for a Ghostzapper filly who is a half-sister to 2025 Betfred 2000 Guineas (G1) winner Ruling Court. Nursery Place, agent, consigned the filly, who is out of Inchargeofme (GB), a winning daughter of High Chaparral (IRE).
With seven horses purchased for $4.6 million to lead buyers, Donato Lanni for SF Racing/
Starlight/Madaket acquired a colt by Nyquist for $1.05 million and a colt by Good Magic for $1 million. Out of the winning stakes-placed mare Velvet Sister, by Bernardini, the son of Nyquist was consigned by Summerfield (Francis and Barbara Vanlangendonck), agent for Stonestreet Bred for Brilliance. The son of Good Magic who was consigned by Eaton Sales, agent, is out of the Union Rags mare Tactical Range and from the family of Grade 3 winner Closing Range and stakes winner Kentucky Ghost.
The second yearling to bring $1.05 million was a filly by Not This Time purchased by New River Equine. Consigned by Elm Tree Farm (Mr. and Mrs. Jody Huckabay), agent for Stonestreet Bred for Brilliance, she is out of stakes winner Ari Oakley, by Gun Runner, and from the family of 2025 Belmont Oaks Invitational (G1) winner Fionn as well as Grade 2 winners Belle of Perintown and Coffee in Bed.
Another two yearlings also sold for $1 million each.
A colt by Not This Time who is a half-brother to Grade 3 winner Owen Almighty was purchased by AMO Racing for $1 million. Consigned by Taylor Made Sales Agency, agent, he is out of the winning Grade 2-placed mare Tempers Rising, by Bayern.
Spendthrift Farm purchased a colt by Constitution from the family of Kentucky Derby (G1) winner Super Saver and Grade 1 winner Callback for $1 million. Out of the Pioneerof the Nile mare Way Too Pretty, he was consigned by Gainesway, agent for Stonestreet Bred for Brilliance.
Keeneland Release
