CURRENT market challenges were very much apparent at Tattersalls on Thursday, as figures fell at both the Guineas Horse In Training Sale and Guineas Breeze Up Sale.

Expectations wouldn’t generally be sky-high at this particular horse in training sale, but even so, the average and median prices, of 13,480gns and 8,500gns respectively, were the lowest since 2021, during the covid pandemic.

Thursday’s sale isn’t the most high profile of the breeze-up sector either, but still consists of horses bought to resell, so the widespread lack of profits will have hit vendors hard, particularly alongside the challenges of earlier sales.

The 33% fall in the median price to 20,000gns was the most startling of declines. It was also the lowest median price since the covid pandemic, as was the average price of 32,991gns; down 16%.

The clearance rate didn’t drop quite as drastically, dropping four points to 75%, but like with earlier breeze-up sales, was helped by a large number of withdrawals - 22% of catalogued lots didn’t make it to the sales ring.

The number of six-figure sales dropped from eight to three, but it wasn’t all doom and gloom, as the two top prices were higher than last year’s peak. They both also provided their consignors with impressive returns on their yearling prices - no easy feat this year, given the strength of the 2025 yearling sales.

Eddie Linehan also took a gamble when investing in first crop sire Minzaal, but it paid off in spades, as he resold his £30,000 buy for 240,000gns. Richard Brown made a strong play for the colt, but eventually conceded to Georgia King, who was taking instructions over the phone from trainer Richard Spencer.

“It’s for a new partnership within Rebel Racing, Phil Cunningham and Tim Gredley, to be trained by Richard Spencer,” King explained. “We’re delighted to get him, and the aim is to hopefully have him run at Royal Ascot.

“This is the first horse I’ve ever bought; it was quite nerve-wracking, but Richard and Phil were on the other end of the phone.”

The Minzaal colt hasn’t tested Eddie Linehan’s nerves, thankfully, with the Co Cork man reporting: “I’ve been very strong on this horse for a while and always felt he could do something like that here.

“In the last six weeks since we started stepping him up, he’s been very impressive and we’ve just been trying to mind him. He did a piece of work at the Curragh and I saw all I needed to know.

“He was owned between myself and Mick and Sarah Murphy of Longways - we both landed on him at the yearling sale and bought him privately together for £30,000.”

Good neighbours

The second highest-priced horse of the sale transformed from a €12,000 yearling to a 200,000gns breezer. Anthony Stroud was the latest buyer of the Ten Sovereigns colt, who was consigned by Drummona House Stud and was bought by Kevin Blake as a yearling for €12,000.

After outbidding the likes of Stuart Boman, Ted Durcan and Richard Brown, Stroud commented: “This is an extremely nice horse. He did a very good breeze in difficult, windy conditions. He is for a client and plans are to be confirmed.”

Colin Bargary and his wife Aušra know all about the importance of clients, as their Drummona House Stud is predominantly a breaking and pre-training operation, with clients including Joseph O’Brien.

“It is an absolutely fantastic result for the whole team,” Bargary said. “It’s not often that this happens and the stars aligned. He breezed well, came back sound and jumped through all of the hoops.

“We were delighted to get the opportunity to breeze him. He was super easy to break, he has a super temperament, a beautiful walk, and just kept strengthening the whole way through the prep, taking everything in his stride.

“When you are riding out in the rain and the wind during the winter, you are dreaming of this, but never think it will be you, it is magic.”

Kevin Blake added: “I thought he was a beautiful colt as a yearling and was fortunate to buy him at the money we did, but sometimes your numbers come up.

“I normally put them in training, but I breezed a couple last year and liked the experience. So, sent this fella down to Colin - I have known him and wife Aušra for a long time and they are nearly neighbours, great horse people, professionals and have a great temperament for the job.”

Boman busy

Richard Brown endured a frustrating afternoon, underbidding the two top lots, but fellow Blandford Bloodstock agent Stuart Boman enjoyed a more fruitful time, securing an American Pharoah colt from Tom Whitehead’s Powerstown Stud for 125,000gns.

As detailed in last week’s sale preview, Blandford did well out of last year’s sale, particularly with horses sent to Joseph O’Brien, and it’s he who will train the American-bred chesnut.

“I have had luck buying from Tom [Whitehead] at this sale before - we bought Lark In The Mornin,” Boman reported.

“He has loads of quality, he did a very good breeze and I rated him my number one. He is Chesham eligible - I am not saying he will go there, but we have a few ideas in mind.

“I think the price was fair enough, the consignors have got to get rewarded for these sorts of horses. I think people are starting to realise that the world is not ending and, in fact, a lot of people have made a lot of money.”

Whitehead, meanwhile, said of the $50,000 yearling: “He is a May 10th foal, so that is why he has come to this later sale. He is a middle-distance horse and in time he will be a lovely horse. There was a lot of action, there was a lot of vets on him.”

Later that afternoon, Boman went to 75,000gns for a Harry Angel filly, which is also joining the Joseph O’Brien yard. Blandford Bloodstock’s spend of 265,000gns on four horses was only outdone by Sheikh Abdullah Almalek Alsabah, who bought eight juveniles totalling 371,000gns.

Belmont’s best

The top lot of the Guineas Horse In Training Sale also hailed from Ireland; Co Wexford, specifically, where Pat O’Rourke is best known as a breeder at Belmont Stud.

He trained four-year-old home-bred Purple Moon to run out an impressive five-and-a-half-length winner of a Gowran maiden on his second start, a performance which saw him valued at 65,000gns by trainer George Baker and Highflyer Bloodstock’s Anthony Bromley.

“He looked a very sound, clean individual, athletic,” Bromley said of the Belardo gelding. “The form of his win is quite good - the horse who finished second ran well in a big handicap last Friday off a mark of 86.”

Candida Baker revealed that Purple Moon was bought on behalf of owner Paul Bowden, adding: “He is one whom we hope can go to race in St Moritz and potentially Bahrain as well.”

Tattersalls’ take

Tattersalls Managing Director Matthew Prior recognised market challenges in his post-sale statement, saying:

“While demand for horses in training remains resilient, prevailing economic conditions and uncertainty surrounding the conflict in the Middle East have had a marked impact on the breeze-up sector.

“In particular, domestic demand continues to contract, reflecting ongoing pressure on UK businesses, with the impact of current government’s fiscal policy increasingly evident.

“Consequently, results at the Guineas Breeze Up Sale followed the trend of earlier sales, with a lower clearance rate, while turnover fell to its lowest level since the Covid-19 pandemic.

“That said, it was pleasing to welcome a strong international buying bench to Park Paddocks, and good competition for the standout two-year-olds on the day.”