Active foreign trade, led by increased participation from Australian, Japanese and Indian buyers, and a dynamic market for foals and racing prospects, highlighted Keeneland’s November Breeding Stock Sale, which concluded Saturday.

Gross sales for the 13-day auction, held November 8-20, totalled $147,392,900 for 2,929 horses, for an average of $50,322 and a median of $17,000. The not-sold rate was 22.51 percent. Last year, 2,779 horses brought $159,727,800, for an average of $57,477 and a median of $20,000. That sale featured the dispersal of W.T. Young’s Overbrook Farm, during which 148 horses sold for more than $31 million.

Eight horses sold for $1 million or more this year versus five in 2009. Frank Stronach’s Adena Springs Farm purchased Irish stakes winner Dreamtheimpossible, in foal to leading European sire Galileo (IRE), for a sale-topping $2.55 million. She was consigned by Eaton Sales, agent.

“The market is very resilient, and despite some continuing challenges, we saw several positive signs for the industry,” said Keeneland Director of Sales Geoffrey Russell.

“As we anticipated, there has been a tremendous international presence here these past two weeks,” he continued, noting the positive impact of the Breeders’ Cup World Championships, which were held at Churchill Downs just prior to the sale. “Foreign buyers, particularly Australians, were bolstered in their spending by quickly recovering economies and thriving racing programs at home. Their buying power made it difficult for Americans to compete. And yet, despite a lack of available credit, Americans stepped up and bought. It was very encouraging that both the buyer and under bidder on the sale topper were North American-based breeders.”

Russell also cited the strong market for weanlings and racing prospects as another healthy aspect of the November Sale. Two weanling colts and one filly each sold for $450,000 – highest price for a weanling. Last November, a weanling colt and filly each topped the sale at $440,000.

“Quality individuals were highly prized by pinhookers and end-users alike,” Russell added. “Interest was also keen for racing prospects, which were featured during the second week of the sale. Those consignments created a unique energy and attracted several buyers who might not otherwise have attended a breeding stock sale.”

Buyers from 34 countries – strengthened by rebounding economies, favourable exchange rates and the desire to purchase American bloodlines to enhance their racing and breeding stock – dominated the market. Several Australian and South African buyers made their first trip to Keeneland in November. Indian buyers, represented by both Indian and European agents, increased their participation due to changes in India’s animal health regulations and the rapid rise of that country’s economy. Buyers from the Middle East, South America, Thailand, South Korea and the Philippines also provided support at all levels of the market.

Foreign purchases accounted for six of the eight horses sold for $1 million or more. Half of those eight were bought by Australian or Japanese interests.

Aisling Duignan, acting on behalf of Ireland’s Coolmore Stud, was the sale’s leading buyer, purchasing multiple Grade 1 stakes winner Society Selection, in foal to Medaglia d’Oro, for $1.85 million and Golden Ballet, dam of 2010 Belmont (G1) winner Drosselmeyer and in foal to Unbridled’s Song, for $1.4 million. Both mares were offered by Taylor Made Sales Agency, agent, which for the 16th time ranked as the November Sale’s leading consignor, selling 340 horses for $26,923,800.

Japan’s Shadai Farm acquired Lucky One, carrying a full sibling to 2010 Kentucky Oaks (G1) winner Blind Luck, for $1.85 million. Lucky One was consigned by Fairlawn Farm.

“The success of our fall sales are due in large part to the hard work and loyalty of our consignors and buyers,” Russell said. “We appreciate their efforts, and extend our wishes to them for a happy and healthy holiday season.”