DURING and in the immediate aftermath of Wednesday’s Goffs UK Breeze Up Sale, it was easy to focus on the extremes of the market, as is the case with any sale.
A low clearance rate in the early stages (which improved as the day progressed) and a large number of withdrawals suggested vendors were completely friendless if they didn’t tick all of the boxes, but after crunching the numbers and comparing figures to earlier years, it appears that the market might not have been as weak as it first seemed.
Market challenges do, of course, exist, and seem particularly tough following a 2025 breeze-up sales season when demand boomed and records were smashed across the board. Those incredible results understandably encouraged many consignors to reinvest handsomely, with the hopes of hitting the jackpot two years in a row.
As mentioned in last week’s Craven report, it’s impossible for demand to continuously rise year-on-year. As we know from the current conflict in the Middle East, bloodstock is not immune to outside influences, but even aside from that, there will always be a ceiling to sales prices, particularly when prize money remains as it current levels in Europe.
Enough philosophising - back to the sale in question. I don’t think anyone expected the Goffs UK Breeze Up Sale to reproduce the highs of 2025, including the £1 million bid that topped trade, and I for one was surprised that bids came as close as they did on Wednesday, with a Mehmas colt from Tally-Ho Stud bringing £880,000 from Anthony Stroud.
Budget cuts
Stroud and underbidder Richard Brown are almost single-handedly holding up the top of the breeze-up market at the moment.
Godolphin’s absence accounts for 65% of the drop in turnover this year and, when combined with the drop in Blandford Bloodstock’s spend, the total actually exceeds the overall drop in turnover at the sale.
They weren’t the only ones to tightened their purse strings, or stay away completely. Others took advantage of gaps in the market, or in the case of Stroud - chief talent scout for Godolphin - put their extra time to use.
Rabbah Bloodstock increased their spend most dramatically of all, though if Kia Joorabchian had secured the top lot he bid on, Amo Racing’s outlay would have been greater. That’s one of the problems if solely relying on final figures.
Aside from the top lot, fewer buyers played at eye-watering levels. The number of lots to make £200,000 or more was the sector that suffered the most on Wednesday, plummeting from 15 to four.
Plenty of horses still reached six-figure prices though - a respectable 24, just five less than last year; very reasonable considering what’s going on in the world these days, in my opinion.
The market tightening at the very top was a major factor in the average price falling by 32% to £57,070. The turnover experienced a similar drop, coming in at £8,389,250.
More stable demand at lower price points helped the median price, which fell by 5% to £35,000, while the clearance rate of 84% was likely helped by a significant number of withdrawals.
Perspective
Goffs UK Managing Director Tim Kent acknowledged the challenges in his post-sale statement, saying: “A top price of £880,000 is the obvious highlight of today’s trade and is dwarfed only by last year’s £1,000,000 record, but there is no doubt that the global economic uncertainty has been a big factor in the challenges faced by many.
“Turnover has obviously taken a hit, and the dizzying top prices we achieved last year have been largely absent with the notable exception of the top price, but trade was steady today, albeit settling at a lower level, and the good ones were still hard to buy. In all, we managed to largely hold last year’s median and finish with a very acceptable clearance rate of 84%.
“It is never easy selling in such an environment, the uncertainty can be very unnerving, and we would like to extend our genuine thanks and praise to our vendors, who have been nothing but consummate professionals over the last few days.”
The stress endured and results celebrated on Wednesday quickly faded in most people’s minds following the sobering news that sales regular John Fleming had tragically died on his way home that night.
The accountant, owner and publisher was a familiar face at the races and the sales, particularly at the breeze-up sales, where he often bought with Michael O’Callaghan.
A friend to many, and friendly to many more, he will be much missed at future sales and his tragic end puts everything into perspective.
ONE theme that did carry over from last year’s sale was the popularity of Mehmas, who provided the three top lots 12 months ago, and retained the leading sire title on Wednesday. Tally-Ho Stud’s precocious sire was responsible for three of the top 10 lots this time, and his son out of Mia Divina was a cut above his rivals, bringing £880,000 from Stroud Coleman.
After seeing off the attentions of Richard Brown for the sales topper, Anthony Stroud said: “He did a very good breeze, he has a good pedigree and he looks like a Royal Ascot two-year-old. We’re all trying to buy them to run at Ascot and he fits that brief. Obviously it’s a great deal of money, a lot more than one would’ve liked to have spent, but that’s the competition of the sales ring. Everyone wants to win, so you have to stretch. I don’t know who’ll train him yet, we just need to come up for some air and I’ll be told where he goes later.”
It was a turnaround in fortunes for the son of Mehmas, who was vendored for 75,000gns at Book 2 as a yearling, and Tally-Ho’s Roger O’Callaghan was quick to commend the colt’s breeders, saying: “First, I have to pay tribute to Con, Amy and Olivia [Marnane], as they bred him.
“The team at Tally-Ho put a lot of hard work into results like this too. I’d say we have some of the best riders in the country at Tally-Ho. We want to be good at the job, and want to be perceived to be good at the job, so when horses sell well and do well on the track and make people happy, it’s hugely gratifying, and has hopefully resulted in some return business.
“This colt always stood out and you just get a hunch about horses like that. He delivered what we expected him to in the breeze and in the shows, and that always makes it easier to sell. It was some bidding battle; very cool.”
Mehmas got Tally-Ho Stud off to a perfect start when Blandford Bloodstock gave £180,000 for the second horse through the ring. The colt, out of stakes winner Rebecca Rocks, was bought by the O’Callaghan family as a foal for 82,000gns and was never entered in a yearling sale.
Mark Grant was another to reap rewards with Mehmas, selling a colt by the sire for £160,000 to Blandford Bloodstock, who bought Bradsell from Grant at a previous renewal.
Back of the net
On Mehmas, who commands €70,000 this season, Roger O’Callaghan commented: “Mehmas is deadly. He’s the gift that keeps on giving. He’s like Ronaldo - Ronaldo scores in every game and Mehmas has a good horse every year. That’s what sets him apart. We’re lucky to have him.”
Like Mehmas, Tally-Ho Stud maintained their top spot in their division, the Westmeath farm selling 14 juveniles for a total of £1,789,000. The family operation is a deserving top seller for more reasons than one, as the farm has sold the likes of Dream Ahead and Perfect Power at the sale in the past.
Adding to Tally-Ho’s success on Wednesday was their champion first season sire Starman finishing third in the sires’ table, one spot ahead of current title hopeful Persian Force.
Mehmas has been on an upward curve since retiring to stud, but there are often plenty of twists and turns in bloodstock, as demonstrated by Michael O’Callaghan’s £260,000 purchase from Tally-Ho Stud.
Bred out of a €3,000 mare, the Ten Sovereigns colt was purchased by Tally-Ho Stud for €65,000 after his sire had notched his first Grade 1 win at stud. It came too late though for Castlehyde Stud, where he left bound for Turkey ahead of the 2025 season.
Ten Sovereigns has sired another two top-flight winners since. Adding to the appeal of O’Callaghan’s buy, as well as a smart breeze, was the fact that he is a half-brother to a blacktype two-year-old.
WHILE many vendors endured a testing time, Darragh Lordan’s Innishannon Valley Stud enjoyed a career-best result when selling a St Mark’s Basilica filly for £205,000 to Hamish Macauley and Australian trainer Henry Dwyer.
“I’m delighted with that, it’s my best result yet,” the Co Cork consignor reported. “Coming here, I thought I had a really nice filly and she showed herself beautifully the last few days. She had all the right people on her. Hopefully she’ll go on to great things for her new owners.
“I bought her in Orby Part 1 for €45,000. She had a great walk last autumn - she did the same show every time - and she was the same here this week. She’s got a great temperament and she’s been a pleasure to do. I love the St Mark’s Basilicas; every one I’ve been involved with has been like that.”
Henry Dwyer, like many buyers, is dreaming of having a runner at Royal Ascot, but plans are otherwise fluid, agent Hamish Macauley explained. “She’ll end up in Australia, but hopefully there’s a chance she might get to Royal Ascot first,” he said.
“She has the best pedigree in the sale; she’s from a champion’s family. She did a very good breeze and is a lovely physical. She came highly recommended. I’m delighted to buy her, although that [price] was stretching it a little bit.”
Golden opportunity
Charles Shanahan revealed similar plans for a Golden Pal filly, bought in partnership with MV Magnier for £250,000.
Sporting a Coolmore jacket championing Ashford Stud’s first season sire, who is already off the mark at stud, Shanahan reported: “The plan is still up in the air because we only came across her on the recommendation of Michael Fitzpatrick, who’s done a great job with her.
“Golden Pal has got off to a perfect start in America, with one runner and one winner. We’ve been getting great reports from Wesley Ward that he has numerous Golden Pals that are meant to be showing all the signs of being good horses.
“We haven’t decided where this filly will go but she’s exciting, a gorgeous physical, and we’re very lucky to have her. She did a fantastic breeze in good time, so she just ticked all the boxes for us.
“Hopefully she’ll make it to Royal Ascot. We all come to Doncaster hoping they’ll be Ascot types.”
Michael Fitzpatrick’s Kilminfoyle House Stud sold the highest-priced filly of the sale, as he did 12 months ago. His latest success story was sourced at Keeneland, where Polo Bloodstock signed the docket at $90,000.
The European freshman sires also made an impression, with juveniles by Blackbeard, Minzaal and Persian Force fetching six-figure prices. Stroud Coleman gave £150,000 for a Blackbeard colt from Bushypark Stables; an impressive mark-up on the colt’s foal price of €25,000.
Willie Browne’s Mocklershill sold a Minzaal filly to Rabbah Bloodstock for £140,000, while Blandford Bloodstock gave £100,000 for a Perfect Power filly from Joey Logan’s Grangeclare.
Tally-Ho Stud resident Persian Force notched two six-figure sales, with a filly from the sire’s base bringing £105,000 from Sayed Hashish and Jamie Piggott. Kia Joorabchian’s Amo Racing spent £220,000 on two by the sire.