The market for racehorses took a big spill during the recession and didn't look ready for a comeback anytime soon. But suddenly, Thoroughbred prices are charging ahead.
The Keeneland September Yearling Sale—the nation's premiere Thoroughbred auction—is just winding down, and the numbers resemble those from precrisis boom times.
Keeneland said 18 yearlings sold for $1 million or more. That's the highest total since 2008 and more than twice last year's total. The most expensive sale was $2.5 million. Though that's below the top-horse price in 2006, which topped $11 million, it's more than double last year's.
(Read more: Moving million-dollar racehorses)
Sales this year total over $264 million, up 23 percent from last year and the highest since 2008. The average price of $130,780 is up 31 percent from 2012.