There will always be individual New York-breds, both weanlings and older breeding stock, who stand out at the annual Keeneland November breeding stock sale, but this year’s cumulative results revealed a more meaningful overall trend: the value of New York-bred weanlings at this marathon sale is decidedly on an upward trajectory.
At the conclusion of eleven sessions of trading this year, 89 New York-breds in all changed hands of 121 offered (26.4 percent buyback) for an average price of $52,181 and a median of $30,000. For reference, these numbers are down somewhat from last year, when 93 New York-breds sold of 112 offered (17.0 percent buyback) for an average price of $54,948 and $37,000 median.
When considered by themselves, however, the weanlings posted stronger results than the group of New York-breds as a whole both this year and last, selling for an average price of $56,621 and median of $40,000. The weanling buyback rate was elevated this year, to be sure – 32.6 percent (29 weanlings sold of 43 offered) – but some high-priced RNAs suggest that sellers are confident that they have better options down the road. Six individuals who failed to sell who drew bids ranging from $50,000 to $120,000.
The New York-bred weanling average and median this year are also up over the weanling results in previous two renewals of the sale. In 2013 New York-bred weanlings averaged $50,591 with a $37,000 median; in 2012 the group averaged $38,544 with a $27,000 median. The increases year-to-year are shown in the chart below with percentages.
New York-bred weanlings at Keeneland November 2012-2014
| 2014 NY-bred weanlings (% change from previous year) | 2013 NY-bred weanlings (% change from previous year) | 2012 NY-bred weanlings | |
| Sold | 29 | 44 | 39 |
| Offered | 43 | 56 | 56 |
| Buyback % | 32.6% | 21.4% | 30.4% |
| Average | $56,621 (+4.8%) | $53,986 (+40%) | $38,544 |
| Median | $40,000 (+3.9) | $38,500 (+42.6%) | $27,000 |
Not only have New York-bred weanlings been selling better at Keeneland over the last few years, but the buyers’ “ceiling” appears to be on the rise. The past two years each saw a $200,000 New York-bred weanling at the top.
New York-bred weanling top achievers at Keeneland November 2012-2014
| 2014 | 2013 | 2012 | |
| Top seller | $200,000 (Hip 292, colt by Sidney’s Candy, o/o Evrobi) | $200,000 (Hip 665; colt by Harlan’s Holiday, o/o First Grade) | $175,000 (Hip 1139: colt by Super Saver, o/o Broadway Hennessey) |
| 6-figure horses | 5 | 8 | 4 |
The recent strength of the New York-bred yearling market, especially at the Fasig-Tipton preferred sale in Saratoga, has grabbed many headlines. Now the weanling market, both at Keeneland and the Fasig-Tipton Saratoga Fall sale, which continued to gain ground in its third year, appears to be gathering a momentum of its own.
