Keeneland starts

[tomcat]

Keeneland started yesterday...with the biggest and most expensive sale of thoroughbreds in the world. There was a huge crowd...perhaps one of the biggest we've seen on day one. We were there about 10 minutes and ther first million dollar horse was sold. Storm Cat and his sons are still bringing the big prices.
Most notable are the two very large private jets sitting (with Arabic lettering) across the street of the Keeneland entrance.
The sales are always very exciting. There are heavy hitters everywhere. Talk about millionaire row!! This is where the real gamblers are this week.

[km]

Tom, thanks, it is hard to imagine incredible monetary impact of this sale, isn't it?

So far 7 colts and 1 filly have sold for over $3million. And the top one (StormCat/Tranquility Lake) for nearly $10 million. All but one of the top 8 have been Storm Cat sired, the other was AP Indy.

Must be over three dozen now sold for over $1 million.

You mentioned the Arab presence. What is the point of buying a baby for millions? Very few Storm Cat progeny earn back their sales price on the track. They cannot be making a profit from the hundreds of millions they have spent. Only a handful of the horses they have bought at high prices will win major GrI stakes and go on to successful stud and replenish their excessive costs.

They appear to be gambling not on the Ky Derby, but the Triple Crown as an exceptionally rare jewel to acquire. We know that winning the Derby is usually takes the "perfect storm", not the best horse. But someday another dominant Secretariat or Seattle Slew will emerge to overcome the Derby rodeo and win the whole 'Crown; the Dubai group wants to make sure they have the horse when that happens. Costs have no meaning when you have your eye on the prize.

[tomcat]

With all this money money flying around, I guess it is easy to underestimate. I think its great for that oil money to come back to the U.S.
The two big money buyers are the arabs and the Irish. Together they have spent 98 million in two days. Next, come the Californians (Lukas, Baffert and the Lewis's)
The money for Storm Cat colts won't be made in the races, but in the breeding barns. Storm Cat as some of you saw, won't be around too much longer so his sons will be even more expensive.
I have compared this sale to an NFL draft of 8th graders! No one really knows, so it is really a breeding sale. Think what the price the son of Michael Jordan would bring.
It was pointed out that the money spent by the Arabs can be earned back in 3 days at todays oil prices.

[km]

Today's (Wed Sept 14) 7th at TP is a good example of where these expensive babies end up competing.

[km]

Sheik Mohammed bought the Storm Cat/ Tranquility Lake colt for nearly $10 million this week at the KEE sale. But this is not the highest price ever paid at auction, there have been two other colts that sold for more. Both came out of Lexington sales.

= A Nijinsky II colt (a half brother to Seattle Slew) was bought for $13.1 million in 1985 by Robert Sangster. The horse was named Seattle Dancer raced three times and won about $150,000. No record at stud was noted.

= Sheik Mohammed spent 10.2 million in 1983 for colt named Snaafi Dancer (out of Northern Dancer). The horse never raced and was not notable as a sire.

Both colts were obviously big busts and gigantic money losers. As Tomcat says, this is where the real gambling takes place. But that didn't slow down the Sheik this week, he spent $40 million, including three others out of Storm Cat.

Tranquility Lake (a successful distaffer out of sire Rahy, won multiple Graded stakes) has produced three other live foals out of Storm Cat, all males. She is currently pregnant with a 4th. Her oldest offspring, a 2yr colt is in the Bill Mott barn at Belmont but has yet to be named and raced.

[tomcat]

If I remember right, Ken, we have a picture with you and Rahy, and Stormcat. That's pretty fancy company.
No sale today, maybe the Sheik will go home and let the others bid tomorrow. This weekend is referred to as "moving day".