ACCORDING to the data on these pages, there were 6,671 yearlings sold at the major European sales in 2022. Most observers would agree it was a very good year for sales, relatively speaking, at least.

Records seemed to be falling every week during the autumn. Clearance rates were high and people generally seemed amazed at how resilient the market was considering the global economy appeared to be heading into recession.

And yet a recent study found that 41% of the approximate 4,500 flat-bred yearlings sold made a profit, based on the covering fee in 2020 plus £20,000 in keep fees. This is a tough business.

So, let’s look at the average prices returned by some of the 438 stallions who had yearlings sell last year. While giving a nod to Shamardal, whose solitary yearling to sell in 2022 fetched €1.6 million at Arqana, let’s focus on those sires who had at least 10 yearlings sold at public auction in 2022, and see which ones earned gold stars by generating profits for consignors.

There’s really no surprises in the top 20. Dubawi’s average price was not far off €1 million though it should be noted that Godolphin bought a lot of the top ones, effectively raising the book value of all their Dubawi stock and the champion sire himself.

Frankel’s average was €700,000 and while this might be multiples of his 2020 stud fee, the mares he covered were typically high achievers and they ought to be producing valuable stock.

Those two giants don’t need promotion here, and neither do Kingman, Siyouni, Lope De Vega, Sea The Stars, No Nay Never, Night Of Thunder, Wootton Bassett or Invincible Spirit, all of whom filled the top spots in the table of average yearling prices.

However, the next name on the list – Too Darn Hot – is a surprise. He is due to have his first runners in 2023 and there must be high expectations, given his yearling average price of €139,355. His covering fee in that first year at stud (2020) was £50,000 and he is down to £40,000 this year. As Willie Mullins might say, GSI.

Camelot is more than holding his own on an average of €132,000, his son Luxembourg giving him a boost at just the right time last autumn.

First runners

Blue Point is another due to have his first runners this year and, with 78 of his yearlings fetching an average price of €114,715, he will surely be high in the betting to be the leading first season sire.

Ten Sovereigns will be in that race too. He had 89 yearlings sold at an average price of €70,818. His published fee for 2023 is €17,500 which is exactly half that of Blue Point.

Magna Grecia is another first season hopeful whose yearling prices give cause for optimism. Off a published fee of €22,500 his first crop of yearlings averaged €62,365 (69 sold) and his fee has been lowered to €15,000 for 2023. Is it time to step in?

Before we leave the topic of next year’s first season sires, we must look at the Tally-Ho and Yeomanstown representatives. No stallion had more yearlings sold at public auction in 2022 than Tally-Ho’s Inns Of Court. He had 122 sales at an average price of €34,156. His fee in that first year was €7,500 and it’s €5,000 now. Yeomanstown’s Invincible Army had 72 yearlings sell for an average of €50,799. They were produced off a €10,000 published fee and you can get in to him for €7,500 now.

Made money

Phoenix Of Spain (average price €34,000) and Soldier’s Call (€33,200) also made money for plenty of people before they’ve ever had a runner. Their initial fees in 2020 were €15,000 and €10,000 respectively.

Across the water, you have to respect the Land Force figures. The Highclere Stud stallion is trading at £5,000 and he had 75 yearlings sell for an average price of €38,580 last year.

Returning to the proven Group 1 stallions, New Bay (average €93,806) and Mehmas (€92,301) have had their fees hiked to €75,000 and €60,000 respectively this year.

Saxon Warrior has also had his fee increased but even at €35,000 (from €20,000) there is arguably value to be had, given that his 58 yearlings which sold last year averaged €83,400.

Sea The Moon came out well in the foal sale figures and also scores highly with his yearlings. The Lanwades Stud sire had 59 yearlings sold at an average price of over €75,000, which makes his 2023 fee of £25,000 look attractive.

Also standing at Lanwades is Study Of Man. His first crop of yearlings averaged almost £50,000 off a £15,000 fee and he is slightly lower now.

Cotai Glory justified his fee hike to €12,500 for 2023 with an average yearling price of €47,634.