Buy TicketsGross through-the-ring sales reach $536.7 million
Keeneland’s 2026 September Yearling Sale concluded Saturday after 12 sessions that produced a record-setting market, surpassing the auction’s previous worldwide record set just one year ago. The sale generated the highest through-the-ring gross ever recorded at a Thoroughbred auction worldwide — $536,737,900 — and set a record with 70 yearlings selling for $1 million or more. Leading the way was a $3.7 million Into Mischief colt purchased by M.V. Magnier and Peter Brant’s White Birch Farm.
For the sale held Sept. 14-26, total through-the-ring sales for 2,856 horses were 5.14% above last year’s $510,517,900 for 2,903 yearlings. Gross sales this year increased to $558,313,400 when the additional $21,575,500 in post sales reported to date are added.
The average of $187,933 increased 6.87% from $175,859 last year, while the median rose 6.25% from $80,000 in 2025 to $85,000 this year.
“It’s incredible to think that we set a world record for a Thoroughbred auction just one year ago, and now we’ve surpassed it,” Keeneland President and CEO Shannon Arvin said. “That speaks to the extraordinary quality of the horses, the strength of the global buying bench and, most importantly, the people who make the September Sale what it is. We are deeply grateful to the breeders, consignors, buyers, agents and everyone who comes together to create this remarkable marketplace. What happens here is truly unique, and the market created at Keeneland in September simply cannot be replicated anywhere else in the world.”
September Sale records in sales through the ring were set in the following categories:
- Number of yearlings sold for $1 million or more (70) bested the previous record 56 last year.
- Number of horses sold for $1 million or more during a single session (23 on Day 2).
- Record session average and median ($739,897/$625,000) from opening day.
- For the sixth year in a row, a record cumulative average of $187,933 was established.
- Cumulative median price of $85,000 rose 6.25% over last year’s $80,000 and set a record for the third consecutive year.
“The numbers can only be described as incredible,” Keeneland Vice President of Sales Tony Lacy said. “We saw consistency through the books. Premium prices were strong for horses that were popular with buyers. Overall, the consensus was that it was an incredibly successful sale. The market is holding very, very strong, while the industry is perceived in a positive light. This is really encouraging. It’s really positive to see all sectors of the industry — of the market — being rewarded for a good horse because they deserve it.”
Week 1 sets stage for success
For the sixth consecutive year, Books 1 and 2 during Week 1 of the September Sale comprised the first four days of the auction when more than 1,100 yearlings representing the sale’s highest concentration of sire power, pedigree and physical quality were cataloged. These enabled major domestic and international buyers to inspect the largest number of exceptional horses possible before the Dark Day on Friday, Sept. 18 when no sale was held.
“For the opening session, the sales ring was absolutely packed,” Arvin said. “Many consignors and buyers told us they had never seen more people on the grounds for the start of the sale. We have invested a lot in the hospitality and experience at Keeneland with the changes to the Sales Pavilion and the addition of the Paddock Building, and we’ve seen that return manifested in the feedback from clients and the size of the crowd.”
Opening day posted a record session average and median ($739,897/$625,000). By the end of Week 1, total sales had reached $318,115,000 with 65 horses bringing $1 million or more. The gross for that period increased 3.4% from 2025.
“When you get that strong momentum from the beginning, it keeps rolling,” said Conrad Bandoroff of Denali Stud, which sold three yearlings for $1 million or more in Book 1. “When the sale starts strong, it just keeps building. It’s like a tidal wave. Buyers’ orders don’t get filled and they have to keep moving through the books, and there is a cascading effect. There is carryover demand that continues to hold throughout the whole sale.”
Dynamic sessions fill Week 2
As the auction entered its second week, buyers continued to compete aggressively for quality and reward sellers.
“The second week was extremely strong and encouraging for the long term because the demand from buyers was particularly good from Book 4 on,” Keeneland Senior Director of Sales Operations Cormac Breathnach said. “The market has been extremely good. That is really heartening because we work hard to provide a catalog with horses that are something for everybody. And so, when the waves of buyers keep coming through here — and they’re here on the last day — that means we have traction and that hopefully are doing a good job on behalf of our sellers and our breeders.”
Highlights of Week 2 session included:
Session 5: Sales of four seven-figure horses.
Session 6: Sale of one seven-figure horse for the first time since 2000.
Sessions 7-11: Four consecutive days of across-the-board increases.
Session 9: Through-the-ring total of $511,680,500 exceeded the $510,539,900 in through-the-ring sales for the entire 12-day auction last year.
Leaders in all categories
Buyers: The partnership of St. Elias, West Point, Lane’s End Racing and Belladonna spent $16.2 million on 20 horses to lead buyers. Other leading buyers by total purchases were RTM Racing; Donato Lanni, agent for FRC/Starlight/Madaket; Mayberry Farm; M.V. Magnier/White Birch Farm; Flying Dutchmen; Douglas Scharbauer; Repole Stable; Lauren Carlisle, agent; and Klaravich Stable.
“Buyers are sophisticated and did their homework,” Lacy said. “They will spend a premium on quality, and there was plenty of action for that quality.”
“It just comes down to being disciplined,” said Monique Delk, Executive Director of Racing Operations for St. Elias. “You have to have a business plan. It doesn’t make sense to buy those $3 million and $4 million horses, even though we were right there on those. Our sweet spot is a little below that. This is a numbers game. We would rather cast a bigger net to have chances to succeed. When you have one that cost $4 million, that’s one egg in the basket when you could have two or three.”
“(The sale) was an amazing experience,” said Mahmud Mouni of RTM Racing, which bought 25 yearlings for $14,660,000. “Everything went smoothly. The vibe was unbelievable. The hospitality is good. All the clients loved it.
“All the people love the same horses and are trying to bid more,” Mouni continued. “The quality of the horses is so good. Any horse sold in September this year, it deserved what it got when you see the market.”
“Overall, we were pleased with what we got,” said Donny Denton, General Manager of Scharbauer’s Valor Farm in Texas. “For what we were looking to buy, we had to work a little harder than last year. It was a nice group of horses and we didn’t always get the one we wanted to buy at times, so we moved on and found something else that would work with our program.
“We normally buy fillies,” Denton added, “but this year we just wanted to buy a good individual and didn’t really matter if it was a colt or filly. We bought eight fillies and two colts (for a total of $9,500,000). At the end of the day for us, we ended up with some fillies with strong pedigrees that we hope will be successful on the race track and good additions to our broodmare band.”
“It’s obviously a very, very strong market, with lots of (returning) buyers and plenty of new buyers, (and) many bid very aggressively,” said Doug Cauthen, Vice Chairman of Three Chimneys, which stands leading sire Gun Runner. “Those new players just added a different, stronger dimension to the bidding. There were more groups forming — some before the sale and some in the back ring — and that just added to the bidding power. It only takes two of the right people on your horse and it’s going to be great sale.”
Buyers represented 30 countries.
Consignors: In its 50th year of operation, Taylor Made Sales Agency was the leading consignor at the September Sale by selling 338 yearlings for an all-time consignor record $68,602,000 (including post sales reported to date). Topping sales was a $2.25 million Nyquist colt purchased by Kimmel/Sallusto, agent for Alex and JoAnn Lieblong. Taylor Made, which sold nine horses for $1 million or more, has led September Sale consignors 27 times since 1988.
Other leading consignors by gross included Gainesway, Lane’s End Farm, Paramount Sales, Denali Stud, Hill ’n’ Dale Sales Agency, Four Star Sales and Warrendale Sales.
Glennwood Farm led all consignors by average, selling 16 yearlings for an average of $691,250. The consignment was led by the sale-topping $3.7 million Into Mischief colt, purchased by M.V. Magnier/White Birch Farm.
“We are hugely satisfied,” said Gerry Duffy, President of WinStar Farm, which sold 44 horses through the ring with a variety of consignors for $14,955,000. “In most cases, our expectations were either met or exceeded for the horses we brought up. I love what Keeneland has done. It is not just a marketplace for people within the industry to trade horses. It is an event, an experience. The marketing and hospitality teams have both gone above a beyond to create events and hospitality. They have done an incredible job to make it more than a sale and make it more of an experience for people. It all feeds into the results we are seeing.”
Sires: For the second time, Gun Runner was the September Sale’s leading sire by total sales and average. Fifty-seven yearlings by the stallion brought $43,672,000 for an average of $766,176. They included 15 horses sold for $1 million or more, led by a $3.1 million colt purchased by AMO Racing USA from consignor Eaton Sales, agent.
Gun Runner led sires during Book 1 with $27,600,000 in through-the-ring sales for 25 yearlings.
Rounding out the 10 leading sires by total through-the-ring sales were Not This Time, Nyquist, Flightline, Into Mischief, Life Is Good, Uncle Mo, Justify, Yaupon and Good Magic.
The leading freshman sire was Grade 1 winner Gunite, whose 72 yearlings sold for a total of $12,694,000. Horse of the Year Cody’s Wish led new stallions by average with $305,131 for 42 sons and daughters.
Results of today’s session
During Saturday’s final session, 261 yearlings sold through the ring for $4,751,900, a 31.99% increase from last year’s total of $3,600,200 for 230 yearlings. The average rose 6.87% from $15,653 to $18,207, while the median of $14,000 was 55.56% higher than $9,000 in 2025.
Gary Barber paid $180,000 for the session’s high seller, a filly by City of Light out of Grade 2 winner Spelling Again, by Awesome Again. She was consigned by Lisa and Tim Turney, agent.
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The September Sale launches Keeneland into October and November with these events:
Oct. 2-24 — 17-day Fall Meet from Oct. 2-24. Twenty-two stakes worth $10.7 million will be run.
Oct. 2-4 — 25th Fall Stars Weekend. Eight stakes are Breeders’ Cup Challenge “Win and You’re In” races, which award each winner an automatic and free entry into the World Championships.
Oct. 15 — Keeneland celebrates its 90th birthday. Keeneland opened Oct. 15, 1936.
Oct. 28 — Third Championship Sale at Historic Castleton (invitation only).
Oct. 30-31 — Keeneland hosts the Breeders’ Cup for the fourth time, following 2015, 2020 and 2022.
Nov. 3-11 — November Breeding Stock Sale.
Nov. 12 — November Horses of Racing Age Sale.
Nov. 13 — 14th Sporting Art Auction.