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Keeneland Nov Day-1: Average Down 35%

Thursday, 12th November 2009

Overall on Day-1 at Keeneland, 126 lots sold for US$26,291,500 (down 45.25% from last year’s 149 sold for US$48,021,000) at an average US$208,663 (down 35.26% from US$322,289 in 2008) & a median US$160,000 (down 13.51% from US$185,000). Keeneland director of sales Geoffrey Russell summed up: “The sale was as expected. It was a very cosmopolitan buyers list. We knew there would be strong overseas participation, especially with regard to broodmares, which was reflected in the top 5 prices – one American buyer (Jess Jackson’s Stonestreet Thoroughbred Holdings) & the rest were either Australian or Japanese. The economies in those particular countries have rebounded faster than the American market & their rate of exchange has never been better. Both countries as well have always admired the American thoroughbred & what it can do to improve their own breed.”

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