'Looking at the raw numbers, these are figures we haven't seen in recent years'

The Keeneland September Yearling Sale kicked off on Monday with a running start and continued its bullish ways through to the end of the first session, as nine horses broke the seven-figure barrier.

A Quality Road colt consigned by breeder Stonehaven Steadings as hip 97 led the day, bringing $2.5 million from the partnership of Talla Racing, Woodford Racing and West Point Thoroughbreds, with David Ingordo signing the ticket.

The partnership ended day one as the leading buyer after spending $3,275,000 for two yearlings.

"It was a great day from beginning to end, and to see as many people in the sales pavilion as we did, the packed house, all the people in the seats, it was exhilarating," said Shannon Arvin, Keeneland's president and CEO. "It is a testament to the excitement about racing and in Kentucky in particular."

Session one produced impressive results, seeing 118 of the 144 horses through the ring selling for gross receipts of $57,995,000, a 44.3 per cent increase over the 2021 opening session. An average price of $491,144 was a 28.3 per cent increase, and a median of $442,500 represented a 42.7 per cent increase year-on-year.

There were 26 horses who failed to meet their reserve to give an RNA rate of 18.1 per cent.

"Just looking at the raw numbers, these are figures we haven't seen in recent years, with nine million-dollar horses in the first session, which is the first time since 2007," said Keeneland vice-president of sales Tony Lacy.

"The first hip through the ring brought $850,000, and hip 8 brought $1.2 million. We can't find a horse that brought more than $850,000 as the first horse through the ring in the history of the sale."

During the 2021 opening session, 105 of the 156 horses on offer sold for gross figures of $40,177,000 at an average price of $382,638 and a median of $310,000. The 51 yearlings who failed to meet their reserve represented an RNA rate of 32.69 per cent.

Arvin said: "We had a lot of principals here. To have them back, enjoying this tremendous sport, and acquiring their next champions was wonderful.

"The atmosphere was fun, and the energy was high; it has been that way for the past three days. To see the culmination in the results and prices we had today is exciting."

Tony Lacy and Shannon Arvin of Keeneland were delighted with how the 2022 September Yearling Sale beganCredit: Keeneland photo

At the close of the first selling session, Taylor Made Sales Agency finished as leading consignor after selling 15 horses for a gross of $8,115,000 at an average of $541,000.

John Gunther of Glennwood echoed a similar feeling after selling four horses on Monday, two of which brought over $1m.

"If you have the right individual, there is money here for it," he said. "I think it's a strong sale. There seems to be a lot of money around. We never had a break [at the barn]."

Mark Taylor of Taylor Made Sales Agency said: "Overall, there was a lot of bidding beyond the reserves on 80 per cent of our horses. I have to give it to our breeders and sellers because we were preaching to them going into the sale, 'It has been a great market so far, but don't check your brain at the door.'

"You have to be realistic and put in realistic reserves, which paid off today. We've had a great clearance rate, and it gets me excited for the rest of the sale."

Lacy said: "We feel like the stats - 48 of the 118 sold brought $500,000 or more - are pretty tremendous. There are a lot of happy people here on the grounds today.

"There is always a lot of anxiety about being on the first day, the early hips, and I think that was set aside after things got going. We want to learn what we did here today and try to improve it for the next time.

"The enthusiasm for racing at the moment, I think we are in a little bit of a golden era and I think we have to learn how to not take anything for granted and find how we develop and work forward on this."

Arvin added: "We want to thank the consignors and breeders who worked with us on the format, and we are delighted that the numbers proved what we hoped they would be."

The sale continues on Tuesday with hips 191-371 beginning at 6pm BST.

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