YEARLING consignors and purchasers have taken some encouragement from last weekend’s Deauville sales returns ahead of next week’s Goffs Premier Yearling Sale in Doncaster, where over half of the 445 catalogued lots are from Irish vendors.
The Arqana August Sale saw an 80% clearance rate and a record average price of €277,682. But 10 seven-figure yearlings - including a sale record €4.6 million price - skewed the results. While turnover was up 10%, the median price dropped by over 3%.
David Cox of Baroda Stud said: “We took 15 yearlings to France and sold them all. The clearance rate at Deauville was very good at all levels and hopefully it will continue from there.
“I’d be optimistic for the high-end stuff and it will be interesting to see how the lower level sales do.”
Eddie O’Leary of Lynn Lodge Stud was not involved at Arqana, but has a draft of 10 heading to Doncaster. “Arqana was good for the good,” he said. “Every sale will be like that, but it will be hard to trade in the bottom half.
“There seems to be more and more people who want to play at the top level. Below the top the cracks appear, but we’ll stay positive and hope to do the best we can.”
Strong at the top
Ballylinch Stud sold all seven yearlings it sent to Arqana. The stud’s John O’Connor said: “We were very happy with the number of views and the sale prices. It looks as if the top end of the yearling market will be strong, but what happens at the elite level is not necessarily reflected elsewhere.
“We’re lucky that Lope De Vega is a very international stallion whose progeny have been particularly successful in the USA and at the Breeders’ Cup. It also looks as if New Bay now has a nice two-year-old filly [Correlation Trade] with Chad Brown. The US market is niche and it’s mainly towards the upper end, but it has to be encouraging that US turf racing is making some progress.”
Consignor Jamie Railton sold three at Arqana and has 11 yearlings going to Doncaster.
Asked to comment on market conditions, he said: “At the end of the day, it’s very important to be positive. At Deauville, the average price went up and the median went down, which tells a story in itself.
“But I think at this stage we have to be positive. There’s a good appetite for a nice horse. Doncaster is our first domestic sale, so direct comparisons with Arqana and Saratoga, with its tax advantages, are difficult.
“But there definitely seems to be a good appetite for our product, which hopefully will continue through the autumn.”
Italian market
Italian bloodstock agent Marco Bozzi made some high-value purchases at Deauville, but he is also active at lower levels of the market.
He said: “I think the market is very sound. Everybody was a bit worried that the strength of the American sales would not carry over to Europe, but Arqana demonstrated that quality pays all the time. Two years ago they sold Diamond Necklace and Constitution River, so that helped a lot.
“I have some American clients who like to buy French-breds for the premiums that are available if you race them in France, but this year a client of mine paid €185,000 for a Zarak colt who is not qualified for the premiums. They had nice horses there and the market was strong overall.”
Asked if he expected Italian owners and trainers to be active in the yearling market this autumn, Bozzi said: “Italian racing is getting past its problems. The Italians remain as passionate as ever about racing and you will see them again at Goffs and Fairyhouse.
“I will also be at Doncaster. That’s where I bought Grand Son Of Dark for €52,000. He won the Italian 2000 Guineas, finished second in the Italian Derby and was a close second to Godolphin’s Distant Storm in a Deauville Group 2 race recently.”
Goffs CEO Henry Beeby said: “We’re hopeful. Obviously Arqana and Saratoga have been extraordinary at the very top. Doncaster deals at a more commercial level, but we’ve had huge interest and we’ve had great winners on the track.
“Everyone who comes to Doncaster knows what they’re going to find, which is good-looking and good-walking colts and fillies. We have put together a good bunch and hotel bookings are off the charts, so we’d be hopeful of a strong trade.
“Bloodstock is an extraordinarily resilient business and it does seem positive at the moment. France and America would give you great heart. The world is a volatile place at the moment and you never know what bumps in the road are going to come, but you’d be hopeful the autumn is going to be at least steady and hopefully strong.”
Preview & pinhookers >>43-44