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Keeneland offers several positive signs - Russell

Keeneland November Sale overall figures ($)
 Year  Off  Sold  % sold  Total  Average  Median
 2010  3,780  2,929  77.5  147,393,800  50,322  17,000
 2009  3,544  2,779  78.4  159,727,800  57,477  20,000

THE Keeneland November Sale in Kentucky, which ended it's 13-day run on Saturday, offered 'several positive signs for the industry', according to Keeneland's director of sales, Geoffrey Russell.

Although declines were registered across-the-board, Russell was encouraged by the volume of international participation, in particular that by Japanese and Australian buyers at the top end of the market.

Demand for quality stock was strong, with eight horses selling for $1 million or more compared to five in 2009. But the middle to the lower ends of the market remained tough for vendors, something which contributed to the overall downturns.

All told, the 13 days trading saw 2,929 of 3,780 horses offered sell for a total of $147,393,900, a drop of eight per cent from 2009 when the Overbrook Farm dispersal accounted for $31.7 million (20 per cent) of the gross.

The average slipped 12 per cent to $50,322 while the median fell 15 per cent to $17,000. The clearance rate dropped marginally from 78.4 per cent to 77.5 per cent.

Fillies Mile third Dreamtheimpossible, sold by Eaton Sales in foal to Galileo, topped the sale when selling for $2.25 million to Frank Stronach's Adena Springs during the second day of trading.

Two colts, by Henrythenavigator and Street Sense, and a filly, by Dynaformer, shared top billing among the foals by selling for $450,000 apiece.

"The market is very resilient, and despite some continuing challenges, we saw several positive signs for the industry," said Russell.

"Quality individuals were highly prized by pinhookers and end-users alike."

The final day of trading on Saturday saw 134 horses - 65 per cent of those offered- sell for a total of $717,500. The average dropped 13 per cent to $5,354 while the median fell 15 per cent to $3,100.

Blackberry Road, a Grade 2-placed Gone West half-brother to champion Vindication, topped the session when selling to Jose Luis Miglietti for $46,000.

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