COMMENT

UP to this week it had been a decidedly mixed European yearling sales season but things took a notable turn for the better at Goffs on Tuesday and Wednesday as the Orby Sale produced a strong set of figures.

Oversupply has been one of the hot topics lately but a smaller than usual Orby catalogue represented a departure from the current trends and this unquestionably played a central role in the success of this year’s sale. A smaller offering of horses always had the potential to boost key figures such as the average, clearance rate and median but, even so, the gains made in all key areas were quite impressive.

“We took the conscious decision to tighten the catalogue numbers to really focus on quality this year and it is clear that our huge array of buyers from home and abroad agreed with that move,” remarked Goffs chief executive Henry Beeby in part of his statement at the conclusion of the sale. “Our vendors sent us a stellar selection and we were delighted to welcome so many major buyers to Kildare Paddocks over the last few days.”

POSITIVES

By any measure, there were a lot of positives to take from this week and once again the Orby witnessed strong demand beyond €100,000. The number of six-figure lots grew from 120 to 124 this year which represents a fine achievement from 64 fewer horses being offered for sale.

There was also a slight increase in activity beyond €200,000 with the number of lots in this range coming in at 52 (as against 50) and it was quite notable that the number of yearlings to fetch at least €400,000 grew from 10 to 16. Furthermore, the number of buyers to spend at least €1 million grew from six to eight. All this would point to a sale where there was no shortage of quality on offer and that there was a buying base to match it.

The extensive efforts of Goffs and Irish Thoroughbred Marketing drew together an impressive assortment of buyers from all over the world. Their considerable and varied participation at different levels within the market alongside the activities of key industry players all played their part in the success of the sale.

PINHOOKERS

For pinhookers this was a week that offered considerable cause for encourgement. Of the 104 pinhooks in the sale, 62 provided their connections with a profit after expenses are taken into account. Mention of pinhookers can’t pass without reference to the performance of No Nay Never’s first crop of runners whose exploits resulted in some stunning pinhooking home runs over the course of the week.

As we reach the halfway stage in a pivotal four-week swing in the yearling calendar, the results at Kildare Paddocks have done their bit to bolster both belief and confidence in the yearling market. It will now be fascinating to see what transpires in Newmarket over the next fortnight.