The strength of the 2026 JRHA Select Sale carried seamlessly from Monday's yearling session into Tuesday's foal session, with demand remaining resilient at the top end of the market. While several key sale metrics eased slightly from last year, the two-day auction still established a new gross sales record, underlining continued confidence among domestic and international investors.

The leading foal of the session was Hip 401, a colt by Kitasan Black out of Australian Champion Two-Year-Old and Three-Year-Old Yankee Rose, purchased by M's Racing for 410,000,000 yen (US$2,530,865). The Northern Racing-consigned colt is the eighth foal from the mare, whose second foal is Liberty Island, the JRA Champion Two-Year-Old and Three-Year-Old.

Equinox also featured prominently among the day's headline lots. Hip 372, a colt out of 2020 Japanese Triple Crown heroine Daring Tact, realised 330,000,000 yen (US$2,037,038) when secured by ANIMA Racing.

For breeder Makio Okada, the result represented a landmark achievement.

"My farm has never sold a horse we bred for more than 100,000,000 yen, and I am excited about this price," Okada said. He added that the colt had consistently impressed him physically, describing him as "a very nice horse" and expressing confidence in his talent. Significantly, Okada confirmed the colt will remain at his farm after weaning to continue his early development.

Another son of Equinox attracted strong competition when Hip 329 sold to Danox Co Ltd, owned by Masahiro Noda, for 310,000,000 yen (US$1,913,581). The colt is the third foal out of Flight Stakes winner Funstar, whose family also includes Queensland Oaks winner Youngstar.

Kitasan Black continued his dominance throughout the session. Hip 342, a colt out of Breeders' Cup Filly & Mare Sprint winner Wavell Avenue, realised 300,000,000 yen (US$1,851,852) when purchased by Susumu Fujita. The pedigree already boasts proven elite performance, with Wavell Avenue's first foal, Grenadier Guards, capturing the Asahi Hai Futurity.

Earlier in the session, TO Racing LLC paid 160,000,000 yen (US$987,655) for Hip 320, a Kitasan Black filly from Irish Oaks placegetter Nicest.

Hideaki Masaoka explained the purchase reflected a deliberate search for a Classic prospect.

"My trainer, Hiroyuki Uemura, and I looked for a Classic prospect who could stay a mile and a half, and we agreed this is the filly to buy," Masaoka said. He noted they had been impressed during an earlier inspection at Northern Farm and that the filly confirmed that impression in Tuesday's parade. He acknowledged the significant investment but said acquiring a genuine Classic prospect justified the price.

Do Deuce's First Crop Draws Strong Demand

The first foals by Do Deuce also generated considerable interest. Hip 341, a colt out of Grade 3 winner Coppa, was purchased by Mikuni Co Ltd for 250,000,000 yen (US$1,543,210). Coppa has already produced Grade 3 Sekiya Kinen winner Tudo de Bom.

Takumi Nishioka, racing manager for Mikuni Co Ltd, revealed the purchase reflected the owner's long-standing support of the young stallion.

"My owner is a great supporter of Do Deuce and we looked for a nice foal by Do Deuce," Nishioka said. He explained the colt had made a lasting impression during a farm inspection and that seeing him again on sale day only reinforced their determination to secure him.

Bellagio Racing also entered the market seeking a Do Deuce colt before ultimately purchasing Hip 377, a Kizuna colt from Group 3 winner Miramar, for 200,000,000 yen (US$1,234,568).

Bellagio Corporation president Kouhei Morikawa said escalating competition prompted a change of plans.

"Though I looked for a nice foal by Do Deuce, it was more expensive than I thought and I changed the target," Morikawa said. Backing trainer Hiroyuki Uemura's recommendation, he highlighted the colt's European pedigree and physical presence before expressing hope the youngster could develop into a Japanese Derby winner.

Another notable Kitasan Black colt, Hip 468, sold to ST Racing for 115,000,000 yen (US$709,877). Out of Argentine Horse of the Year Belleza de Arteaga, the colt appealed to buyer Shin Watanabe, who said the price matched expectations. He added that while the colt may require time to mature, he believed he had the potential to become a future Group 1 performer.

Healthy Market Despite Softer Foal Figures

A total of 247 foals entered the ring, with 228 selling for 15,824,000,000 yen. That represented a 7.6% decline in gross compared with 2025, while the average price fell 7.7% to 69,403,509 yen. The median remained unchanged at 50,000,000 yen and the clearance rate finished at 92.3%, down from 95.0% last year.

Across both sessions, 509 lots were offered and 478 sold for a record 33,484,000,000 yen, a 2.4% increase on 2025. The average price eased 3.0% to 70,050,209 yen, but the median climbed 8.5% to 51,000,000 yen. The overall clearance rate was 93.9%, compared with 97.0% a year earlier.

Broad Buyer Base Encourages JRHA

Active JRHA Chairman and Shadai Farm owner Teruya Yoshida viewed the overall results as evidence of a fundamentally healthy marketplace rather than one driven solely by elite prices.

"It was a very strong and healthy market," Yoshida said. He identified the higher median price as particularly significant, saying it reflected the overall quality of horses presented for sale rather than strength confined to the very top end of the market.

Yoshida also pointed to the quality of Monday's yearling catalogue and the emergence of new participants.

He said ownership had become an increasingly attractive pursuit for younger successful businesspeople in Japan, adding that many were prepared to invest more than 100,000,000 yen to secure their preferred horses. He also welcomed the participation of international buyers, noting that 11 horses were purchased by overseas interests during the two-day sale. Yoshida said that trend demonstrated the JRHA Select Sale's growing appeal within the global bloodstock market.

The record-breaking aggregate, stronger median and expanding international participation suggest the JRHA Select Sale continues to strengthen its position as one of the world's premier thoroughbred auctions, even as buyers become increasingly selective across the broader market.