YEARLINGS

IF 2015 signaled a leveling off in the growth of the European yearling market, 2016 was one in which selectivity and supply to the market place were two recurring themes throughout the autumn.

As ever the yearling trade was led by Book 1 of the Tattersalls October Yearling Sale where the top of the market was as strong as ever. A record nine yearlings fetched seven-figure sums while just three sires – Dubawi, Galileo and emerging star Frankel – accounted for the top 10 lots.

John Ferguson, acting for Godolphin, and Sheikh Hamdan Al Maktoum’s Shadwell Estates signed for the joint sale toppers which came in the shape of a pair of 2.6mgns Dubawi colts. As ever the Maktoum family and their associates had a profound impact on Book 1 as they were responsible for 28% of the sale’s 88mgns turnover.

Also very active was the partnership of M.V. Magier and the South African Mayfair Speculators who signed for three of the top 10 lots which included a 2.1mgns Galileo own-sister to Alice Springs. Overall the sale’s average of 228,527gns represented a progression of three points but the median fell by 13% to 130,000gns. It was certainly a landmark week’s trade at the top end although the market did seem a polarised one at times.

ORBY SALE

The previous week the Goffs Orby Sale saw its number of seven-figure transactions fall from four to one but the average of €109,986 was up 5% and the €67,000 median was an eight point progression.

Trade at the Orby was bolstered by a tremendous international input and demand in the six-figure bracket was notably strong. The number of six-figure transactions for the two days came in at 120 but strikingly the number of horses to make at least €400,000 jumped from seven to 16.

The first installment of the Wildenstein Dispersal supplied the sale topper which was a €1.4m son of Dubawi and the French 1000 Guineas heroine Beauty Parlour. John Ferguson bought the colt after outlasting Peter Brant’s White Birch Farm whose pursuit of Wildenstein horses through the autumn was relentless.

The Orby was followed by an expanded Sportsman’s Sale where 478 horses were catalogued this year as opposed to 244 in 2015.

This major increase in numbers impacted on the sale’s figures and the first day fell some way off last year’s returns. Throughout the autumn the dangers of increased supply were starkly illustrated and the Sportsman’s was one of those auctions were a substantially increased level of supply allowed buyers to be at their most selective.

Back to Newmarket and a slimmed down Book 2 of the October Yearling Sale made gains in all key areas. An average of 65,359gns and a 50,000gns median both finished ahead of last year and the clearance rate progressed from 82 to 84%.

A 380,000gns son of Kodiac held sway when knocked down to John Ferguson while Shadwell Estates made a huge contribution, spending over 5mgns on 42 lots over the three days.

Several months previously the 2016 renewal of the Goffs UK Premier Yearling Sale was a keenly awaited one. This was Britain’s first yearling sale following the decision to leave the European Union in June and the two days yielded a solid set of returns.

An 87% clearance rate made for good reading as did an improved average of £44,078 and a £34,000 median which was up by 13%.

Yeomanstown Stud sire Dark Angel supplied one leading light after another at this sale, headed by £280,000 top lot.

Meanwhile, the Tattersalls Ireland September Yearling Sale was able to post improved returns for Part I of its four-day run. An average of €24,963 and a €19,000 median were both records and the top lot was a €150,000 colt from the first crop of the Australian Group 1 winner Epaulette.

This year’s enlarged sale meant that the exceptional 93% clearance rate for Part I in 2015 was going to be impossible to match and that dropped to 82%. Part II of the sale was a far more sombre affair.

It stretched into two days for the first time and this in turn saw the number of horses changing hands dropping from 86 to 71%.