EVEN though the number of seven-figure transactions doubled from two to four and trade at the upper end of the market was broadly similar to last year, the record-breaking returns of 2018 were out of reach for this week’s Goffs Orby Sale.

Twelve months ago a condensed catalogue for this premier yearling sale played a pivotal role in a tremendous edition of this sale.

A larger offering of horses this year was always going to make the figures of 2018 a hard act to follow and this was borne out in the results.

At its conclusion, the Orby turned over just shy of €43 million which represented a very minor decrease on 12 months ago. The average of €117,899 was down by 11% while the median fell from €80,000 to €65,000 which was a drop of 23%. Also down was the clearance rate which went from 89% to 85%.

Comparison

However, a look beyond a straight comparison with last year would show that this was comfortably one of the better Orby Sales of recent times and Goffs chief executive Henry Beeby expressed his satisfaction with how the company’s flagship sale performed.

“A superb top price of €3 million heading a quartet of millionaires clearly shows that the Orby Sale sits at the top table of the international yearling market and is the measure of any sale anywhere for the best,” said Beeby.

The filly by Galileo out of Green Room selling for €3,000,000 \ Sarah Farnsworth

“We remain eternally grateful that the breeders/vendors of such blue bloods are prepared to place their trust in the Goffs service and delighted when those decisions are vindicated with such good results.

“Orby ‘18 was a record breaker and ultimately proved to be the best performing European yearling sale of the year from a statistical viewpoint. From a smaller catalogue demand grew and vendors were very happy.”

“That success drove an increased application for places this year and the 2019 catalogue returned to previous year’s numbers which has probably resulted in a small drop in clearance rate although we would submit that 85% is still a figure that reads well.

“Our average and median have not quite kept pace with last year but the average is still 8% ahead of the 2017 level (the median is the same) so we are quite satisfied our trade has proved in line with the year to date whether we are looking at results from Kentucky, France or the UK in that the market became stronger the higher the prices climbed. It will be interesting to see whether these trends continue and how the market finishes up later in the autumn.

“One of the real stories of Orby ‘19 has been the huge international interest and we have welcomed buyers from across the globe following our increased investment in buyer recruitment and the hard work of the Goffs team working in tandem with Irish Thoroughbred Marketing.

“It was wonderful to welcome HH Sheikh Mohammed back to Goffs along with his brother HH Sheikh Hamdan as well as several new faces of note whilst we remain indebted to M.V. Magnier and the Coolmore Partners for their tremendous support year in, year out.

“Those big names naturally garner headlines but we are extremely grateful to every buyer at every level of the market and to each vendor for allowing us to handle their yearlings. As ever we are nothing without the horses and appreciate every one along with each bid they attract.”

Sheikh Hamdan Al Maktoum and entourage arriving at the sale \ carolinenorris.ie