At the Keeneland sale

I thought I'd share my experience at the Keeneland auction this week, as I got to go behind the scenes.
Most of my experiences in racing so far have revolved around the track.  But these sales are where the race horses of tomorrow are bought and sold, and it definitely gave me a different perspective on the world of racing.

A lot of the big-name trainers were there, looking for that next Kentucky Derby horse.  Nick Zito, Bob Baffert.  I was standing near Baffert as he inspected hip # 1368, a yearling sired by Ghostzapper, a phenomenal runner in his day.  These one-year-olds haven't been named yet, so they're just a number at the sale.  In this case, a number with a pretty nice pedigree -- a Ghostzapper colt out of a Skip Trial mare.

A fellow student in the equine business program at the University of Louisville tapped me on the shoulder and asked, "How much you think that horse will go for?"  I had no idea, and in fact, I've learned that even the most astute observers sometimes have no idea.  But I figured if Baffert was looking at him, I probably couldn't mortgage every house I've ever owned and still be in the bidding.  We followed hip #1368 into the auction ring.  Baffert did not come with him.

A few minutes later, the announcer described hip #1368, and the strapping colt strode into the sales arena.  No one in the audience said anything, but I'm pretty sure there were internal "ooohs and aaahhs."

"Hey-diggity-digg-diggity-digg-diggity-digg-10-hey-diggity-digg-diggity-digg-20."

That's the only way I know how to describe the auctioneer's call.  For six hours a day, that's all you hear all over the Keeneland grounds.

"Hey-diggity-digg-diggity-digg-30-hey-diggity-digg-diggity-diggity-digg-40.  Or better yet, listen for yourself:






While the speaking in tongues continued, in the audience, everyone was stone-faced.  It was nearly impossible to know who was bidding and making the diggity-diggs become actual numbers.  After a few sales, I started to spot the bidders -- people wearing baseball caps who were giving signs like catchers to their pitchers.  A little swipe of the nose here, a two fingered-salute there, and yes, the price just went up!

A couple seats away from me was a man in a baseball cap on a cell phone.  I had seen him talking to Baffert earlier.  I listened intently as the guy repeated the bidding prices into the phone.  I assumed Baffert was on the other end, and he definitely seemed in the game for hip # 1368.

The bid spotter kept looking at the guy and giving him hand signals, asking without asking, "you in for $250,000?  $300,000?  The guy in the baseball cap ever-so-slightly nodded as the price went up and up and up.  And finally, after a couple minutes of this, the diggity-diggs ended with the words:  "SOLD, for $500,000!"

That's life at the world's premiere yearling auction.  Two minutes, $500,000. 

We spent some time in the repository, looking at x-rays.  They didn't let us stay very long.  They have very strict rules about everything, which are meant to protect buyers from getting taken.  It's still Caveat emptor, though.  Just like betting at the track.  The more information you have, the better your chances for success.

We went to the barns and looked at the conformation of various horses that were about to be sold.  As a racing fan, I'm sure I'm not alone as someone who doesn't really know what to look for.  Did you see that horse's overstride?   Watch where the front hoof lands and make sure that the back hoof hits that mark or exceeds it.  That's a good sign.  Are the limbs too close together?  Bad sign.  Is the pastern at the right angle so that it can cushion the impact of running?

Fascinating.

These are some of the components of finding a winning racehorse.  Those who've been around horses for many years know this stuff by heart, but for others, it's a whole new world.  I'm one of those people.  And that's why I'm here.

I have a fairly good sense of pedigrees, but when it comes to physical issues, that's where I'm still a novice, and just spending a day at Keeneland was a fantastic education.  A guy like Baffert, with his experience and keen eye, can spot a nice one, no matter the price.  Me and my buddy, we were about ready to split a $10,000 Theatrical colt.  I swear he had a great turf pedigree, but no one seemed to care.  The price didn't budge from $10,000, and that is nothing when it comes to buying Thoroughbreds.

The thing is, you just never know.  A couple years from now, I could see that colt striding home to victory in the Breeders' Cup turf sprint.  Baffert's horse may never even make it to the track. 

If he does, at $500,000, he better win a few races.