By the time the final gavel fell at last fall’s Keeneland Yearling September Sale, wealthy buyers had smashed through records at the world’s largest thoroughbred auction, spending $532 million on racehorses, driving up the average price of a yearling to nearly $650,000, the most ever and 23% more than 2024. A major reason for such largesse: among the tax breaks in President Trump’s sweeping One Big Beautiful Bill Act was a provision cementing the ability to write off 100% of a racehorse purchase in the first year of ownership. “[The bill] has been a big thing for a lot of people, to know that they can turn around and write off a substantial amount of what they’re spending, depending upon what the rest of their tax situation looks like,” says bloodstock editor at equestrian publication BloodHorse Eric Mitchell. “Over and over again, we heard that from people who were buying at the auction.”

Source: The North Africa Journal January 12, 2026 04:25 UTC