THE intense demand for Irish point-to-pointers shows no sign of abating and on Thursday at Cheltenham two Irish graduates sold for £410,000 and £400,000. They were the second and third highest prices ever for horses that had ‘won between the flags’ in Ireland.

Is the £500,000 point-to-pointer just around the corner? Bloodstock agent Tom Malone, who bid £400,000 on behalf of the owners of Cheveley Park Stud for Envoi Allen this week, says it is and points out that it was “only the flick of a hand” that stopped the current record-priced pointer from reaching that landmark.

“I don’t think that it will go too much higher than that; the ceiling now is considered to be about £400,000. A decade ago that ceiling was about £200,000 and that was thought to be a ‘wow’ price.”

The biggest influence on this top-end demand has been the introduction of boutique sales, according to Malone. “These sales have forced buyers to take each other one, and this is very different from buying privately at home. Buyers get revved up and owners want to have the best horses available.

“Another major factor is the quality of the horses on offer. Handlers have gone from buying €15-20,000 stores to paying 50 and 60,000, and this adds further to the value of the winners. After that, it is all about performance and the results speak for themselves – the amount of graded horses sold is phenomenal. This is fuelling demand, with the bigger teams [of buyers] getting stronger and investing more.”

P2P’s Richard Pugh believes it’s not about reaching any landmark figure, but he says the depth of the market and subsequent performances of the point-to-point graduates is driving demand. He echoes Malone’s comments about success.

“In 2017, 785 winners and 53 blacktype performers were point-to-point graduates,” he said. “Handlers are doing a terrific job progressing them along and they keep going, stay sound; horses like Definitly Red in the Gold Cup.” The recent prices are indicative of the strength of the market for potential National Hunt stars and the gelding who sold for £410,000 this week, Dlauro, was bought in 2016 for just £33,000.

SUCCESSES

Graduates of the Irish point-to-point scene have for decades gone on to win some of the best National Hunt races in Ireland and Britain, and the most exciting young horses in training at present, Samcro, looks likely to enhance that reputation next month at Cheltenham. He cost Ryanair’s Michael O’Leary £335,000 in April 2016 after winning his point-to-point at Monksgrange.

He remains unbeaten in six starts for the airline boss and has earned just over £100,000 in prize money.

Presenting Forever was the breakthrough high-priced point-to-pointer when he was sold for £370,000 at Doncaster back in 2008. He raced for Graham and Andrea Wylie, enjoying just two modest victories on the racecourse. The record price for a winning point-to-pointer was paid a year ago when Flemenshill sold for £480,000 after winning his only start at Oldtown. He died without racing again, suffering a heart attack on Colin Tizzard’s gallops.

The 2017 Cheltenham December Sale saw Trevelyn’s Corn sell for £400,000 to Tom Malone and Paul Nicholls, while this week Know The Score, who topped the Tattersalls Cheltenham November Sale when bought for £380,000, became then latest high-priced graduate to win impressively on the track for trainer David Pipe.

Pugh believes the demand will continue. “The last three sales for the higher priced lots went to different, not mainstream, sets of colours.” He cites graded winners and Cheltenham contenders Claimantakinforgan, Samcro, Getabird and Finian’s Oscar as expensive purchases that have more than justified their purchase prices for their owners.

“We are not flooding the market - there is a tight number of horses. If there are people with the spending power they will buy the fast one, and look at the fun they are getting.”