All Eyes on Book 1
For decades, Book 1 of the September Yearling Sale has been internationally renowned for showcasing the cream of the North American yearling crop. The Keeneland sales team worked hand in hand with consignors to intentionally construct a Book 1 designed to present the largest number of exceptional horses possible to major domestic and foreign buyers. And the results played out to perfection as buyers bid at a frenetic pace from Hip 1 on.
Book 1 by the Numbers
$117,295,000 Gross Sales
an increase of 23%
$450,000 Median
$499,128 Average
83% Clearance Rate
Keeneland did a remarkable job for the first two days. The individuals were there and the pedigrees were there and they got rewarded.
A Vibrant Start
Keeneland’s annual Book 1 Brunch attracts buyers and sellers alike to the pavilion, creating a lively atmosphere to kick off The World’s Yearling Sale.
Following the Book 1 Brunch, the fireworks in 2022 began with Hip 1, a striking son of Medaglia d’Oro that sold for $850,000. The price was the highest for a yearling assigned Hip 1 in the September Sale since at least 1999. The action continued quickly when Hip 8 became the first yearling to pass the seven-figure mark, selling for $1.2 million.
The energy was amazing. The atmosphere was incredible. This is a great sport, and it’s wonderful to see the principals coming back and enjoying it.
We had a phenomenal Book 1. It was a dynamic market that exceeded expectations at the higher end. It feels like the best sale in a decade.
Book 1 Exceeds Expectations
With a concerted focus to bring quality forward into Book 1, the 2022 September Sale closed with a record average of $499,128 and record median of $450,000. The makeup of Book 1 increased the median from $325,000 in 2021 to $450,000 a year later. Meanwhile both the Book 1 average and median represented the highest of any sale in North America in 2022.
None of this (the Book 1 format) was done in a vacuum. It was evident over the last couple of years that if you put the right horses in front of the right people the market takes care of itself.
We listened to feedback from buyers and tried to structure the sale in a way that would enable them to see the top horses in the first few days, and they responded. Buyers showed up in droves from all over the world.
‘They Went Above and Beyond’
Among consignors that benefited from having a presence in Book 1 was Stonehaven Steadings, which consigned the $2.5 million sale-topping son of Quality Road. A relative newcomer to the sales arena, Stonehaven Steadings sold three yearlings in Book 1 for aggregate receipts of $4.1 million.
Keeneland is the world’s biggest stage for yearling sales. It attracts an international audience and we thought this filly could appeal to buyers that want to win. Keeneland tries hard and is upping their game all the time.
Fireworks in Book 1
Taylor Made Sales Agency, which repeated as the September Sale’s leading consignor, has long targeted its best horses for Book 1, based on a business model that stresses presenting its best horses to buyers at the start of the sale.
The way to run a healthy market is to have the very best horses sell first, then have the next best horses sell second, then third, then fourth, and so on. You need some fireworks in Book 1.
Consignors Praise Book 1
If there were any doubts about putting a horse in Book 1, they were certainly quelled this year. It pays to have a Book 1 horse. If you have a proper Book 1 horse, they need to be in Book 1.
Book 1 at Keeneland is the premier sale in the world, I think. Certainly for the American buyer, there’s the most quality product anywhere in the world.
The energy at Keeneland Book 1 is unlike any other sale that you'll go to. These breeders, the farms have been working for 18 months to bring the very best- quality product that we possibly can and every horse that we're bringing over has something to offer in terms of appeal. So there's just nothing like it.
