FOALS AND BREEDING STOCK

FOLLOWING a yearling sales season that yielded decidedly mixed fortunes for pinhookers, the foal sales of 2015 had their work cut out to match the returns from 12 months previously.

At Goffs the November Foal Sale had witnessed an almost frenzied approach to buying in 2014 which led to a huge surge in figures. Trade could be described as being of a more sensible variety this time as buyers were acutely aware of the market that they will have to sell back into next year.

As it stretched out to five days for the first time since 2008, the sale posted an aggregate of almost €26m which was down 6%. The €31,950 average was down by 14 points while the median dropped from €22,000 to €18,000. The clearance rate also pointed to a more measured approach from buyers as it fell by eight points to 77%.

However, it should be pointed out that trade was still quite strong throughout the week and the sale posted yet another milestone in the shape of a €1.1m top lot. A son of Dubawi and the Marguerite Weld-owned Irish 1000 Guineas winner Nightime, the colt was bought by John Ferguson and he has the distinction of being the most expensive colt foal to come under the hammer in Ireland.

The second highest price was achieved by a €475,000 Galileo half-brother to the high class juvenile Lilbourne Lad who looks set to be reoffered as a yearling next year.

The week at Goffs concluded with the Breeding Stock Sale which posted an altogether better set of results than 2014. There were no major fireworks over the course of the two days but trade was just altogether better this time around as evidenced by a turnover which grew by 26 points to just under €10m. The average rose by 20% to €31,294 while the €15,000 median represented a progression of 11%.

At a sale where the number of six-figure transactions almost doubled to 17, the ever popular draft of mares from the Aga Khan were again central to proceedings. The €460,000 top lot was the stakes-placed Oasis Dream mare Ebeyina who was sold in foal to the red hot sire Kodiac. From one of her owner’s outstanding dynasties, the mare was bought by Ballylinch Stud who have picked up a number of choicely bred mares and fillies at various sales over the last few weeks.

The 10-day Tattersalls December Sale then took centre stage where its five-day foal sale posted a mixed set of returns. A turnover of just over 33.5m gns was a record and the average of 41,800gns improved fractionally on last year but the 20,000gns median dropped by 20%. This was the third largest foal sale on record and a 74% clearance rate pointed to a market that was quite selective at times.

Easily the highlight of the week was the penultimate day of the sale were a trio of Dubawi fillies became the third, fourth and fifth most expensive foals to come under the hammer at this sale. The most expensive of these was an 800,000gns daughter of the classy High Heeled and she was knocked down to John Ferguson.

The following week the Tattersalls December Mares Sale produced the top priced lot of the year in Europe when Hanky Panky, who was offered in foal to Dubawi, fetched 2.7m gns. Formerly a Group 3-placed runner for Aidan O’Brien, the half-sister to Giant’s Causeway was bought by John Ferguson who also forked out 1.6m gns to secure Qualify. She was the first Oaks winner to be offered for sale in the same year as winning that classic.

The other high profile transactions included M.V. Magnier giving 2.1m gns for the 2014 Cheveley Park Stakes winner Tiggy Wiggy. The auction did also witness a series of expensive buybacks and the figures couldn’t match those of 2014 while remaining some way off 2013 which remains the high water mark for breeding stock sales.