Keeneland vs. Tattersalls Book 1: Three Years of Yearling Sales Data Examined
A three-year comparison of Keeneland September and Tattersalls October Book 1, from the price curves and medians to the buying benches and the RNAs.
I’ll admit, until last year my knowledge of Tattersalls was pretty limited. I knew it was one of England’s premier yearling sales, and that was about it. That changed when I helped a buying team acquire horses at Book 2, working remotely from Kentucky. This year I’m fortunate enough to be here in person, looking for a special horse to bring home.
I followed Book 1 closely, partly to get a sense of what might be coming in Book 2 and partly because it’s fun watching guys spend three or four million guineas on a yearling. Having just come off Keeneland September, I started wondering how the two sales really compare. And with a long flight across the pond ahead of me, I had plenty of time to find out. So, as I do, I dug into the data.
Here’s the first finding that grabbed my attention. Rank the completed 2026 Book 1 sales at each auction from highest to lowest price, and Tattersalls comes out ahead at the first 16 positions. From number 17 through 184, Keeneland takes over. That’s 168 consecutive positions favoring Lexington. Two years ago, Keeneland held the higher price at just 20 corresponding positions.
The biggest checks are still written in Newmarket
Tattersalls’ three most expensive yearlings this year brought 4.6 million, 4 million and 3.8 million guineas, approximately $6.4 million, $5.6 million and $5.3 million. A guinea is £1.05, worth about $1.39 at this year’s sale-week exchange rate. Godolphin bought the Night Of Thunder colt out of My Astra and the Wootton Bassett colt out of Loch Lein. M.V. Magnier and Peter Brant’s White Birch Farm paid 4 million guineas for the Frankel colt out of Shambolic, an own brother to Group 1 winner Ylang Ylang. The same Magnier and White Birch partnership purchased Keeneland’s sale topper, an Into Mischief colt, for $3.7 million.
Across the 2024, 2025 and 2026 Book 1 sales, 21 yearlings sold for at least $3 million between the two auctions. Seventeen sold at Tattersalls, including all six fillies to reach that threshold. Newmarket has consistently attracted the biggest individual bids.
For each year, we ranked completed transactions, including reported private sales, from highest to lowest. We then compared the corresponding positions at each auction.
| Year | Positions favoring Keeneland | Comparable positions | Keeneland share |
|---|---|---|---|
| 2024 | 20 | 222 | 9% |
| 2025 | 164 | 222 | 74% |
| 2026 | 176 | 228 | 77% |
Comparable positions are the number of completed Keeneland Book 1 sales, the shorter of the two lists, including post-ring sales. Tattersalls prices converted to US dollars at sale-week exchange rates.
In 2026, Keeneland was ahead at positions 17 through 184 and again at 192 through 199. Tattersalls led at the first 16 and the remaining positions.
Figure 1 · The crossover
Keeneland’s yearling cost more at every rank from 17th to 184th
Show the data
| Rank | Keeneland | Tattersalls, gns | Tattersalls, US$ | Dearer |
|---|---|---|---|---|
| 1 | $3,700,000 | 4,600,000 | $6,400,000 | Tattersalls |
| 2 | $3,100,000 | 4,000,000 | $5,565,000 | Tattersalls |
| 3 | $2,800,000 | 3,800,000 | $5,287,000 | Tattersalls |
| 4 | $2,600,000 | 2,600,000 | $3,617,000 | Tattersalls |
| 5 | $2,300,000 | 2,200,000 | $3,061,000 | Tattersalls |
| 6 | $2,100,000 | 2,000,000 | $2,782,000 | Tattersalls |
| 7 | $1,950,000 | 1,800,000 | $2,504,000 | Tattersalls |
| 8 | $1,950,000 | 1,600,000 | $2,226,000 | Tattersalls |
| 9 | $1,900,000 | 1,600,000 | $2,226,000 | Tattersalls |
| 10 | $1,700,000 | 1,500,000 | $2,087,000 | Tattersalls |
| 11 | $1,600,000 | 1,500,000 | $2,087,000 | Tattersalls |
| 12 | $1,600,000 | 1,400,000 | $1,948,000 | Tattersalls |
| 13 | $1,550,000 | 1,300,000 | $1,809,000 | Tattersalls |
| 14 | $1,500,000 | 1,300,000 | $1,809,000 | Tattersalls |
| 15 | $1,500,000 | 1,100,000 | $1,530,000 | Tattersalls |
| 16 | $1,500,000 | 1,100,000 | $1,530,000 | Tattersalls |
| 17 | $1,500,000 | 1,000,000 | $1,391,000 | Keeneland |
| 18 | $1,500,000 | 950,000 | $1,322,000 | Keeneland |
| 19 | $1,450,000 | 925,000 | $1,287,000 | Keeneland |
| 20 | $1,400,000 | 900,000 | $1,252,000 | Keeneland |
| 21 | $1,400,000 | 900,000 | $1,252,000 | Keeneland |
| 22 | $1,400,000 | 825,000 | $1,148,000 | Keeneland |
| 23 | $1,400,000 | 825,000 | $1,148,000 | Keeneland |
| 24 | $1,300,000 | 800,000 | $1,113,000 | Keeneland |
| 25 | $1,250,000 | 800,000 | $1,113,000 | Keeneland |
| 26 | $1,250,000 | 800,000 | $1,113,000 | Keeneland |
| 27 | $1,200,000 | 750,000 | $1,043,000 | Keeneland |
| 28 | $1,200,000 | 750,000 | $1,043,000 | Keeneland |
| 29 | $1,200,000 | 750,000 | $1,043,000 | Keeneland |
| 30 | $1,200,000 | 700,000 | $974,000 | Keeneland |
| 31 | $1,200,000 | 700,000 | $974,000 | Keeneland |
| 32 | $1,200,000 | 700,000 | $974,000 | Keeneland |
| 33 | $1,100,000 | 700,000 | $974,000 | Keeneland |
| 34 | $1,100,000 | 700,000 | $974,000 | Keeneland |
| 35 | $1,050,000 | 700,000 | $974,000 | Keeneland |
| 36 | $1,050,000 | 650,000 | $904,000 | Keeneland |
| 37 | $1,000,000 | 650,000 | $904,000 | Keeneland |
| 38 | $1,000,000 | 650,000 | $904,000 | Keeneland |
| 39 | $1,000,000 | 625,000 | $870,000 | Keeneland |
| 40 | $1,000,000 | 625,000 | $870,000 | Keeneland |
| 41 | $1,000,000 | 625,000 | $870,000 | Keeneland |
| 42 | $950,000 | 600,000 | $835,000 | Keeneland |
| 43 | $925,000 | 600,000 | $835,000 | Keeneland |
| 44 | $925,000 | 600,000 | $835,000 | Keeneland |
| 45 | $900,000 | 580,000 | $807,000 | Keeneland |
| 46 | $900,000 | 575,000 | $800,000 | Keeneland |
| 47 | $900,000 | 550,000 | $765,000 | Keeneland |
| 48 | $900,000 | 550,000 | $765,000 | Keeneland |
| 49 | $900,000 | 550,000 | $765,000 | Keeneland |
| 50 | $900,000 | 550,000 | $765,000 | Keeneland |
| 51 | $900,000 | 550,000 | $765,000 | Keeneland |
| 52 | $900,000 | 550,000 | $765,000 | Keeneland |
| 53 | $900,000 | 525,000 | $730,000 | Keeneland |
| 54 | $900,000 | 525,000 | $730,000 | Keeneland |
| 55 | $875,000 | 525,000 | $730,000 | Keeneland |
| 56 | $850,000 | 525,000 | $730,000 | Keeneland |
| 57 | $850,000 | 500,000 | $696,000 | Keeneland |
| 58 | $850,000 | 500,000 | $696,000 | Keeneland |
| 59 | $850,000 | 500,000 | $696,000 | Keeneland |
| 60 | $850,000 | 500,000 | $696,000 | Keeneland |
| 61 | $850,000 | 500,000 | $696,000 | Keeneland |
| 62 | $850,000 | 500,000 | $696,000 | Keeneland |
| 63 | $825,000 | 500,000 | $696,000 | Keeneland |
| 64 | $825,000 | 475,000 | $661,000 | Keeneland |
| 65 | $825,000 | 475,000 | $661,000 | Keeneland |
| 66 | $825,000 | 460,000 | $640,000 | Keeneland |
| 67 | $825,000 | 460,000 | $640,000 | Keeneland |
| 68 | $800,000 | 450,000 | $626,000 | Keeneland |
| 69 | $800,000 | 450,000 | $626,000 | Keeneland |
| 70 | $800,000 | 450,000 | $626,000 | Keeneland |
| 71 | $800,000 | 450,000 | $626,000 | Keeneland |
| 72 | $800,000 | 450,000 | $626,000 | Keeneland |
| 73 | $800,000 | 425,000 | $591,000 | Keeneland |
| 74 | $800,000 | 425,000 | $591,000 | Keeneland |
| 75 | $750,000 | 425,000 | $591,000 | Keeneland |
| 76 | $750,000 | 425,000 | $591,000 | Keeneland |
| 77 | $750,000 | 425,000 | $591,000 | Keeneland |
| 78 | $750,000 | 425,000 | $591,000 | Keeneland |
| 79 | $750,000 | 425,000 | $591,000 | Keeneland |
| 80 | $725,000 | 425,000 | $591,000 | Keeneland |
| 81 | $725,000 | 420,000 | $584,000 | Keeneland |
| 82 | $725,000 | 420,000 | $584,000 | Keeneland |
| 83 | $700,000 | 420,000 | $584,000 | Keeneland |
| 84 | $700,000 | 400,000 | $556,000 | Keeneland |
| 85 | $700,000 | 400,000 | $556,000 | Keeneland |
| 86 | $700,000 | 400,000 | $556,000 | Keeneland |
| 87 | $700,000 | 400,000 | $556,000 | Keeneland |
| 88 | $700,000 | 400,000 | $556,000 | Keeneland |
| 89 | $700,000 | 400,000 | $556,000 | Keeneland |
| 90 | $675,000 | 400,000 | $556,000 | Keeneland |
| 91 | $675,000 | 400,000 | $556,000 | Keeneland |
| 92 | $650,000 | 400,000 | $556,000 | Keeneland |
| 93 | $650,000 | 400,000 | $556,000 | Keeneland |
| 94 | $650,000 | 400,000 | $556,000 | Keeneland |
| 95 | $650,000 | 400,000 | $556,000 | Keeneland |
| 96 | $650,000 | 400,000 | $556,000 | Keeneland |
| 97 | $625,000 | 400,000 | $556,000 | Keeneland |
| 98 | $625,000 | 400,000 | $556,000 | Keeneland |
| 99 | $625,000 | 400,000 | $556,000 | Keeneland |
| 100 | $625,000 | 400,000 | $556,000 | Keeneland |
| 101 | $625,000 | 390,000 | $543,000 | Keeneland |
| 102 | $600,000 | 385,000 | $536,000 | Keeneland |
| 103 | $600,000 | 380,000 | $529,000 | Keeneland |
| 104 | $600,000 | 380,000 | $529,000 | Keeneland |
| 105 | $600,000 | 380,000 | $529,000 | Keeneland |
| 106 | $600,000 | 380,000 | $529,000 | Keeneland |
| 107 | $600,000 | 380,000 | $529,000 | Keeneland |
| 108 | $575,000 | 375,000 | $522,000 | Keeneland |
| 109 | $550,000 | 375,000 | $522,000 | Keeneland |
| 110 | $550,000 | 375,000 | $522,000 | Keeneland |
| 111 | $550,000 | 375,000 | $522,000 | Keeneland |
| 112 | $550,000 | 360,000 | $501,000 | Keeneland |
| 113 | $550,000 | 360,000 | $501,000 | Keeneland |
| 114 | $550,000 | 360,000 | $501,000 | Keeneland |
| 115 | $550,000 | 350,000 | $487,000 | Keeneland |
| 116 | $550,000 | 350,000 | $487,000 | Keeneland |
| 117 | $525,000 | 350,000 | $487,000 | Keeneland |
| 118 | $525,000 | 350,000 | $487,000 | Keeneland |
| 119 | $525,000 | 330,000 | $459,000 | Keeneland |
| 120 | $525,000 | 330,000 | $459,000 | Keeneland |
| 121 | $500,000 | 330,000 | $459,000 | Keeneland |
| 122 | $500,000 | 330,000 | $459,000 | Keeneland |
| 123 | $500,000 | 325,000 | $452,000 | Keeneland |
| 124 | $500,000 | 325,000 | $452,000 | Keeneland |
| 125 | $500,000 | 325,000 | $452,000 | Keeneland |
| 126 | $500,000 | 325,000 | $452,000 | Keeneland |
| 127 | $500,000 | 310,000 | $431,000 | Keeneland |
| 128 | $500,000 | 300,000 | $417,000 | Keeneland |
| 129 | $500,000 | 300,000 | $417,000 | Keeneland |
| 130 | $500,000 | 300,000 | $417,000 | Keeneland |
| 131 | $500,000 | 300,000 | $417,000 | Keeneland |
| 132 | $500,000 | 300,000 | $417,000 | Keeneland |
| 133 | $500,000 | 300,000 | $417,000 | Keeneland |
| 134 | $500,000 | 300,000 | $417,000 | Keeneland |
| 135 | $460,000 | 300,000 | $417,000 | Keeneland |
| 136 | $450,000 | 300,000 | $417,000 | Keeneland |
| 137 | $450,000 | 300,000 | $417,000 | Keeneland |
| 138 | $450,000 | 300,000 | $417,000 | Keeneland |
| 139 | $450,000 | 300,000 | $417,000 | Keeneland |
| 140 | $450,000 | 300,000 | $417,000 | Keeneland |
| 141 | $450,000 | 290,000 | $403,000 | Keeneland |
| 142 | $450,000 | 290,000 | $403,000 | Keeneland |
| 143 | $435,000 | 280,000 | $390,000 | Keeneland |
| 144 | $425,000 | 280,000 | $390,000 | Keeneland |
| 145 | $425,000 | 280,000 | $390,000 | Keeneland |
| 146 | $425,000 | 280,000 | $390,000 | Keeneland |
| 147 | $425,000 | 280,000 | $390,000 | Keeneland |
| 148 | $425,000 | 280,000 | $390,000 | Keeneland |
| 149 | $425,000 | 280,000 | $390,000 | Keeneland |
| 150 | $425,000 | 270,000 | $376,000 | Keeneland |
| 151 | $410,000 | 270,000 | $376,000 | Keeneland |
| 152 | $400,000 | 270,000 | $376,000 | Keeneland |
| 153 | $400,000 | 270,000 | $376,000 | Keeneland |
| 154 | $400,000 | 270,000 | $376,000 | Keeneland |
| 155 | $400,000 | 260,000 | $362,000 | Keeneland |
| 156 | $400,000 | 260,000 | $362,000 | Keeneland |
| 157 | $400,000 | 260,000 | $362,000 | Keeneland |
| 158 | $400,000 | 260,000 | $362,000 | Keeneland |
| 159 | $400,000 | 260,000 | $362,000 | Keeneland |
| 160 | $400,000 | 260,000 | $362,000 | Keeneland |
| 161 | $400,000 | 260,000 | $362,000 | Keeneland |
| 162 | $400,000 | 260,000 | $362,000 | Keeneland |
| 163 | $400,000 | 260,000 | $362,000 | Keeneland |
| 164 | $385,000 | 255,000 | $355,000 | Keeneland |
| 165 | $375,000 | 250,000 | $348,000 | Keeneland |
| 166 | $375,000 | 250,000 | $348,000 | Keeneland |
| 167 | $375,000 | 250,000 | $348,000 | Keeneland |
| 168 | $375,000 | 250,000 | $348,000 | Keeneland |
| 169 | $360,000 | 250,000 | $348,000 | Keeneland |
| 170 | $350,000 | 250,000 | $348,000 | Keeneland |
| 171 | $350,000 | 250,000 | $348,000 | Keeneland |
| 172 | $350,000 | 250,000 | $348,000 | Keeneland |
| 173 | $350,000 | 250,000 | $348,000 | Keeneland |
| 174 | $350,000 | 250,000 | $348,000 | Keeneland |
| 175 | $350,000 | 240,000 | $334,000 | Keeneland |
| 176 | $350,000 | 240,000 | $334,000 | Keeneland |
| 177 | $350,000 | 240,000 | $334,000 | Keeneland |
| 178 | $350,000 | 230,000 | $320,000 | Keeneland |
| 179 | $350,000 | 230,000 | $320,000 | Keeneland |
| 180 | $335,000 | 230,000 | $320,000 | Keeneland |
| 181 | $325,000 | 230,000 | $320,000 | Keeneland |
| 182 | $325,000 | 230,000 | $320,000 | Keeneland |
| 183 | $310,000 | 220,000 | $306,000 | Keeneland |
| 184 | $310,000 | 220,000 | $306,000 | Keeneland |
| 185 | $300,000 | 220,000 | $306,000 | Tattersalls |
| 186 | $300,000 | 220,000 | $306,000 | Tattersalls |
| 187 | $300,000 | 220,000 | $306,000 | Tattersalls |
| 188 | $300,000 | 220,000 | $306,000 | Tattersalls |
| 189 | $300,000 | 220,000 | $306,000 | Tattersalls |
| 190 | $300,000 | 220,000 | $306,000 | Tattersalls |
| 191 | $300,000 | 220,000 | $306,000 | Tattersalls |
| 192 | $300,000 | 210,000 | $292,000 | Keeneland |
| 193 | $300,000 | 210,000 | $292,000 | Keeneland |
| 194 | $300,000 | 210,000 | $292,000 | Keeneland |
| 195 | $300,000 | 210,000 | $292,000 | Keeneland |
| 196 | $300,000 | 210,000 | $292,000 | Keeneland |
| 197 | $300,000 | 200,000 | $278,000 | Keeneland |
| 198 | $285,000 | 200,000 | $278,000 | Keeneland |
| 199 | $280,000 | 200,000 | $278,000 | Keeneland |
| 200 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 201 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 202 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 203 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 204 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 205 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 206 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 207 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 208 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 209 | $250,000 | 200,000 | $278,000 | Tattersalls |
| 210 | $235,000 | 200,000 | $278,000 | Tattersalls |
| 211 | $225,000 | 200,000 | $278,000 | Tattersalls |
| 212 | $225,000 | 200,000 | $278,000 | Tattersalls |
| 213 | $220,000 | 200,000 | $278,000 | Tattersalls |
| 214 | $210,000 | 200,000 | $278,000 | Tattersalls |
| 215 | $200,000 | 200,000 | $278,000 | Tattersalls |
| 216 | $200,000 | 200,000 | $278,000 | Tattersalls |
| 217 | $200,000 | 190,000 | $264,000 | Tattersalls |
| 218 | $200,000 | 190,000 | $264,000 | Tattersalls |
| 219 | $200,000 | 190,000 | $264,000 | Tattersalls |
| 220 | $200,000 | 185,000 | $257,000 | Tattersalls |
| 221 | $200,000 | 180,000 | $250,000 | Tattersalls |
| 222 | $175,000 | 180,000 | $250,000 | Tattersalls |
| 223 | $150,000 | 180,000 | $250,000 | Tattersalls |
| 224 | $150,000 | 180,000 | $250,000 | Tattersalls |
| 225 | $125,000 | 180,000 | $250,000 | Tattersalls |
| 226 | $80,000 | 180,000 | $250,000 | Tattersalls |
| 227 | $80,000 | 180,000 | $250,000 | Tattersalls |
| 228 | $75,000 | 180,000 | $250,000 | Tattersalls |
| 229 | – | 175,000 | $243,000 | |
| 230 | – | 175,000 | $243,000 | |
| 231 | – | 170,000 | $237,000 | |
| 232 | – | 170,000 | $237,000 | |
| 233 | – | 170,000 | $237,000 | |
| 234 | – | 170,000 | $237,000 | |
| 235 | – | 170,000 | $237,000 | |
| 236 | – | 170,000 | $237,000 | |
| 237 | – | 170,000 | $237,000 | |
| 238 | – | 170,000 | $237,000 | |
| 239 | – | 170,000 | $237,000 | |
| 240 | – | 170,000 | $237,000 | |
| 241 | – | 170,000 | $237,000 | |
| 242 | – | 165,000 | $230,000 | |
| 243 | – | 160,000 | $223,000 | |
| 244 | – | 160,000 | $223,000 | |
| 245 | – | 160,000 | $223,000 | |
| 246 | – | 160,000 | $223,000 | |
| 247 | – | 160,000 | $223,000 | |
| 248 | – | 160,000 | $223,000 | |
| 249 | – | 160,000 | $223,000 | |
| 250 | – | 160,000 | $223,000 | |
| 251 | – | 160,000 | $223,000 | |
| 252 | – | 150,000 | $209,000 | |
| 253 | – | 150,000 | $209,000 | |
| 254 | – | 150,000 | $209,000 | |
| 255 | – | 150,000 | $209,000 | |
| 256 | – | 150,000 | $209,000 | |
| 257 | – | 150,000 | $209,000 | |
| 258 | – | 150,000 | $209,000 | |
| 259 | – | 150,000 | $209,000 | |
| 260 | – | 150,000 | $209,000 | |
| 261 | – | 150,000 | $209,000 | |
| 262 | – | 150,000 | $209,000 | |
| 263 | – | 150,000 | $209,000 | |
| 264 | – | 140,000 | $195,000 | |
| 265 | – | 140,000 | $195,000 | |
| 266 | – | 140,000 | $195,000 | |
| 267 | – | 140,000 | $195,000 | |
| 268 | – | 140,000 | $195,000 | |
| 269 | – | 140,000 | $195,000 | |
| 270 | – | 140,000 | $195,000 | |
| 271 | – | 140,000 | $195,000 | |
| 272 | – | 135,000 | $188,000 | |
| 273 | – | 135,000 | $188,000 | |
| 274 | – | 135,000 | $188,000 | |
| 275 | – | 130,000 | $181,000 | |
| 276 | – | 130,000 | $181,000 | |
| 277 | – | 130,000 | $181,000 | |
| 278 | – | 130,000 | $181,000 | |
| 279 | – | 130,000 | $181,000 | |
| 280 | – | 130,000 | $181,000 | |
| 281 | – | 130,000 | $181,000 | |
| 282 | – | 130,000 | $181,000 | |
| 283 | – | 130,000 | $181,000 | |
| 284 | – | 130,000 | $181,000 | |
| 285 | – | 125,000 | $174,000 | |
| 286 | – | 125,000 | $174,000 | |
| 287 | – | 125,000 | $174,000 | |
| 288 | – | 125,000 | $174,000 | |
| 289 | – | 120,000 | $167,000 | |
| 290 | – | 120,000 | $167,000 | |
| 291 | – | 120,000 | $167,000 | |
| 292 | – | 120,000 | $167,000 | |
| 293 | – | 120,000 | $167,000 | |
| 294 | – | 120,000 | $167,000 | |
| 295 | – | 120,000 | $167,000 | |
| 296 | – | 120,000 | $167,000 | |
| 297 | – | 120,000 | $167,000 | |
| 298 | – | 110,000 | $153,000 | |
| 299 | – | 110,000 | $153,000 | |
| 300 | – | 110,000 | $153,000 | |
| 301 | – | 110,000 | $153,000 | |
| 302 | – | 110,000 | $153,000 | |
| 303 | – | 105,000 | $146,000 | |
| 304 | – | 105,000 | $146,000 | |
| 305 | – | 105,000 | $146,000 | |
| 306 | – | 100,000 | $139,000 | |
| 307 | – | 100,000 | $139,000 | |
| 308 | – | 100,000 | $139,000 | |
| 309 | – | 100,000 | $139,000 | |
| 310 | – | 100,000 | $139,000 | |
| 311 | – | 100,000 | $139,000 | |
| 312 | – | 100,000 | $139,000 | |
| 313 | – | 100,000 | $139,000 | |
| 314 | – | 98,000 | $136,000 | |
| 315 | – | 95,000 | $132,000 | |
| 316 | – | 95,000 | $132,000 | |
| 317 | – | 95,000 | $132,000 | |
| 318 | – | 92,000 | $128,000 | |
| 319 | – | 90,000 | $125,000 | |
| 320 | – | 90,000 | $125,000 | |
| 321 | – | 90,000 | $125,000 | |
| 322 | – | 90,000 | $125,000 | |
| 323 | – | 90,000 | $125,000 | |
| 324 | – | 90,000 | $125,000 | |
| 325 | – | 90,000 | $125,000 | |
| 326 | – | 88,000 | $122,000 | |
| 327 | – | 85,000 | $118,000 | |
| 328 | – | 85,000 | $118,000 | |
| 329 | – | 85,000 | $118,000 | |
| 330 | – | 85,000 | $118,000 | |
| 331 | – | 82,000 | $114,000 | |
| 332 | – | 80,000 | $111,000 | |
| 333 | – | 80,000 | $111,000 | |
| 334 | – | 80,000 | $111,000 | |
| 335 | – | 80,000 | $111,000 | |
| 336 | – | 80,000 | $111,000 | |
| 337 | – | 80,000 | $111,000 | |
| 338 | – | 75,000 | $104,000 | |
| 339 | – | 75,000 | $104,000 | |
| 340 | – | 72,000 | $100,000 | |
| 341 | – | 70,000 | $97,000 | |
| 342 | – | 70,000 | $97,000 | |
| 343 | – | 70,000 | $97,000 | |
| 344 | – | 70,000 | $97,000 | |
| 345 | – | 70,000 | $97,000 | |
| 346 | – | 62,000 | $86,000 | |
| 347 | – | 60,000 | $83,000 | |
| 348 | – | 60,000 | $83,000 | |
| 349 | – | 60,000 | $83,000 | |
| 350 | – | 60,000 | $83,000 | |
| 351 | – | 55,000 | $77,000 | |
| 352 | – | 50,000 | $70,000 | |
| 353 | – | 50,000 | $70,000 | |
| 354 | – | 50,000 | $70,000 | |
| 355 | – | 50,000 | $70,000 | |
| 356 | – | 50,000 | $70,000 | |
| 357 | – | 50,000 | $70,000 | |
| 358 | – | 40,000 | $56,000 | |
| 359 | – | 40,000 | $56,000 | |
| 360 | – | 32,000 | $45,000 |
The difference in volume favors Tattersalls in this type of comparison. Our original 2026 dataset contained 360 completed Tattersalls sales against 228 at Keeneland. At any given rank, Tattersalls’ horse represents a higher position within its own, larger pool. Keeneland still recorded the higher price at 176 of the 228 corresponding positions.
These are price rankings rather than comparisons of equivalent horses. The two auctions assemble different catalogs, and their yearlings serve different racing markets. But the results show how dramatically the relative price distributions have changed in three years.
Keeneland’s median premium has nearly doubled
The medians support the same general finding. To make the financial comparisons consistent, we separated horses sold through the ring from private transactions and converted Tattersalls prices into dollars.
| Year | Keeneland gross | Tattersalls gross | Keeneland median | Tattersalls median |
|---|---|---|---|---|
| 2024 | $119.6M | ~$174.9M | $475,000 | ~$343,000 |
| 2025 | $144.2M | ~$174.4M | $550,000 | ~$338,000 |
| 2026 | $151.4M | ~$170.1M | $600,000 | ~$348,000 |
Book 1 through-the-ring sales only. Tattersalls figures converted from guineas to U.S. dollars. Tattersalls medians were 250,000, 240,000 and 250,000 guineas.
In 2024, Keeneland’s median was 38% higher than Tattersalls’. That premium grew to 63% in 2025 and approximately 73% this year. Keeneland’s median increased from $475,000 to $600,000 over the period, while Tattersalls finished 2026 with the same 250,000-guinea ring median it recorded in 2024.
There’s a reporting difference worth addressing here. Tattersalls includes private sales completed during the auction in its published figures, producing an official 2026 median of 230,000 guineas. Keeneland’s published Book 1 median reflects through-the-ring sales. We’ve used the same ring-only definition for both.
Keeneland’s Book 1 gross increased nearly 27% over those three years. Tattersalls’ dollar-denominated gross remained relatively flat, narrowing the gap between the auctions from approximately $55 million to $19 million.
Tattersalls still handles considerably more horses. This year, 322 yearlings sold through the ring at Tattersalls compared with 208 at Keeneland, a difference of 55%. That additional volume generated approximately 12% more gross.
Keeneland has managed to raise the middle of its premium market while Tattersalls has continued attracting enormous money for a relatively small group of individuals. The top of Newmarket remains exceptionally strong, but its typical Book 1 ring sale has made little progress in guineas over this period.
A few big buyers in Newmarket, a broader buying bench in Lexington
From 2024 through 2026, the five largest buyers accounted for approximately 41% to 50% of Tattersalls Book 1 spending each year. At Keeneland, the corresponding range was 22% to 25%. Godolphin alone bought 25 yearlings at Tattersalls this year for 26.91 million guineas (about $37.4 million), representing 21.3% of Book 1’s published turnover. Across the three-year period, Godolphin and Amo Racing, including partnerships, purchased 14 of the 17 Tattersalls yearlings that sold for at least $3 million.
Godolphin’s spending also had a substantial influence on the year-over-year result. Remove its purchases from both years, and Tattersalls’ remaining published Book 1 turnover declined 7.4% in 2026. The nearly flat overall gross conceals a softer market among the other buyers, measured by their aggregate spending.
Keeneland draws on a broader collection of high-value buyers. Gun Runner has led Keeneland Book 1 by gross for three consecutive years. His 29 completed sales in 2026 brought $29.6 million and went to 23 different buyers, in a market where the five largest buyers accounted for 22.4% of total spending.
There was plenty of competition for Tattersalls’ most expensive horses. Coolmore was the underbidder on the Night Of Thunder sale topper before Godolphin secured him at 4.6 million guineas, and again on the 3.8-million-guinea Wootton Bassett colt. These were expensive, desirable yearlings with serious buyers competing for them.
For a seller, buyer concentration raises an obvious question: how many people are realistically prepared to pay your price? Godolphin alone can transform the top of a Tattersalls sale, as Amo did in 2024. Keeneland’s spending is spread across more buyers. That gives sellers a different competitive landscape, particularly once you move below the seven-figure horses.
Americans in Newmarket
American buyers were out in force at Park Paddocks this year. Tattersalls described the level of North American participation as unprecedented, reporting more than 50 Book 1 purchases. Our analysis identified at least 46 transactions totaling approximately 15 million guineas (about $20.9 million), compared with 36 purchases worth 10.7 million guineas (about $15.0 million) in 2025.
Mike Ryan, buying for Klaravich Stables, signed for 13 yearlings totaling 3.61 million guineas. Repole Stable bought six for 1.745 million, while David Ingordo, representing Determined Stud, appeared on five purchases totaling 1.69 million. Bobby Flay spent 1.625 million on two fillies, including the Frankel daughter of Alcohol Free acquired privately for 800,000 guineas. Both are headed to Andrew Balding.
Chad Brown and Justin Casse were among the familiar faces from the American market in attendance. Miguel Clement signed for a Lope De Vega filly out of She’s Not Here for 450,000 guineas. American interests also participated through partnerships, including White Birch Farm’s 4-million-guinea Frankel colt purchased with Magnier.
Across the three years, the median for identifiable North American buyers at Tattersalls stayed between 290,000 and 295,000 guineas, with fillies accounting for 59% to 69% of their purchases. Their typical buying activity sits well below the spectacular prices generated by Godolphin and Coolmore, in the part of the ranked market where Keeneland’s prices still run higher.
What happens when we account for the RNAs?
Keeneland’s higher prices came with a lower through-the-ring clearance rate in 2026. Approximately 71% of the yearlings offered at Keeneland Book 1 sold in the ring, compared with 78% at Tattersalls. After including private sales completed during the auction, Tattersalls reported an 85% clearance rate.
That relationship has varied over the past three years. Tattersalls held a substantial clearance advantage in 2024, at 86.3% against Keeneland’s 71.3%. Keeneland cleared a higher proportion in 2025, 78.9% against 76.6%, before Tattersalls regained the advantage this year.
The auctions also differ in how much of their catalogs ultimately reaches the ring. Keeneland withdrew roughly 21% to 25% of its Book 1 entries before bidding during the period, compared with approximately 12% at Tattersalls. Those differences in selection and selling decisions complicate any simple comparison of the two markets.
One way to account for the RNAs is to divide total through-the-ring gross by the number of yearlings offered, including those that failed to sell. That measures the auction revenue generated per offering, rather than the average price of successful transactions.
In 2026, Keeneland generated approximately $518,500 per yearling offered, compared with $411,800 at Tattersalls, a premium of about 26%.
That measure combines price and clearance, and it’s a useful check on the much larger median gap. It also has limits. An unsold yearling remains an asset, subsequent private sales produce additional revenue, and individual consignors face different costs and reserve decisions.
Revenue per offering is built on averages, which lets Tattersalls’ top end back into the comparison. Keeneland’s ring average was 38% higher than Tattersalls’ this year, well short of the 73% median premium, and the difference between those two figures is Newmarket’s multimillion-guinea yearlings. Counting the RNAs reduces Keeneland’s advantage from 38% to 26%. Even with more horses failing to meet reserve, Lexington generated considerably more revenue per yearling offered.
Methodology. Keeneland September Book 1 (Sessions 1 and 2) and Tattersalls October Book 1 (all three days), 2024 through 2026. Gross, average, median, clearance and revenue per yearling offered use through-the-ring sales; yearlings offered include RNAs (292 at Keeneland and 413 at Tattersalls in 2026, counting one Tattersalls lot withdrawn and then sold privately as withdrawn). Price rankings and the $3 million count include recorded private sales; the 2026 rankings use our October 8 data cut of 228 Keeneland and 360 Tattersalls sales, and the three later Tattersalls private sales, 140,000 guineas in total, all fall below position 184. Guineas convert at £1.05 and the Bank of England 4 p.m. spot rate averaged over the sale days: $1.3725 per guinea in 2024 and $1.4065 in 2025. Every 2026 conversion, rankings included, uses $1.3912, the average for October 6 and 7, because October 8’s rate had not been published when the data were cut; the rankings are identical at the full three-day average. Buyer groups merge identifiable signatures and partnerships, and the North American count is a floor, since some agency and partnership purchases cannot be assigned from public records. Sources: Keeneland (2024, 2026), Tattersalls, Racing Post, Bank of England.