Breeders' Digest

Nancy Sexton Bloodstock Editor

Lifeline of hope as Tattersalls market defies expectations

For a moment during the second week of the Tattersalls October Sale, it was as if there was nothing untoward going on in the outside world.

When the Covid-19 pandemic hit in March, there were concerns as to whether there even would be any autumn sales calendar. And when it was confirmed that sale companies were in a position to stage auctions with all the required protocols in place, the industry then braced itself for a sharp drop in the market.

A contraction of around a third was the general expectation across the industry and while those fears went some way to be realised as the premier yearling market stuttered into life at the Goffs Orby Sale in Doncaster, it went on to defy all expectations in Newmarket with a strength of trade that offered much hope for the future.

Tattersalls’ flagship yearling sale, October Book 1, ended with an average and median that was only 13% adrift of last year. As expected, it was selective in parts but the top end held up well thanks to nine seven-figure lots led by the 3,400,000gns Galileo sister to Japan and Mogul, yet another auction star out of Newsells Park Stud’s Shastye.

But it was how Book 2 unfolded that was really astounding. While there was some value to be had at Book 1, there was a real depth to Book 2 that contributed to a clearance rate of 85%, an average of 75,922gns that fell

A 3,400,000gns sister to Japan led a memorable Tattersalls October Sale

TATTERSALLS

only three per cent behind last year and the presence of 19 lots that made 300,000gns or more, compared to 11 in 2019.

Even Book 3 stood up remarkably well, with its average falling by only one per cent to 16,051gns.

Plenty of pinhookers also had a better sale than was expected, with just over half of those bought as foals returning a significant profit. Pinhooking is a precarious business even in good times, and a number of those horses that missed the target did so on account of failing to progress well enough into their yearling year or being the product of a sire that had fallen out of commercial favour – both factors at play in a normal year.

Fuelling trade, particularly at Book 2, was a keen participation from the Maktoum family that had previously been less pronounced during the early round of yearling sales in Europe and North America. For whatever reason, they threw their weight behind the October Sale; Sheikh Mohammed’s Godolphin spent 16,430,000gns at Book 1 while Sheikh Hamdan’s Shadwell stepped up at Book 2, coming away with 36 yearlings at a cost of 5,327,000gns.

Considering everything that is going on in the outside world, not to mention the ongoing issue of the appalling levels of British prize-money, the feeling at Park Paddocks during those few days was one of incredulity and naturally relief.

Sheikh Hamdan’s Racing Manager Angus Gold summed it up best. “I cannot believe there is a person who foresaw what was going to happen over the last three days,” he said. “And it is fair play to everyone who has supported this – there is no prizemoney, no crowds, not a single thing to look forward to on the face of it, it is just the wonderful optimism that the whole thing is based on! I do think people have just thought they have had to get stuck in – hence prices are what they are.”

Whatever the reason, the enthusiasm behind Books 1 and 2 of the Tattersalls October Sale threw a lifeline of hope to many breeders. It will also have allowed many pinhookers to reinvest at this year’s foal sales, and thereby keep the wheel turning during what is likely to be a long winter.

GROWING AUSSIE DEMAND ADDS FURTHER SPICE

One key factor behind the strength of the October Sale for Under, Australian interest in our yearling sales is on the rise. which the British and Irish industries can take pride in is the This year’s sale set a new benchmark with at least 30 ongoing allure of our bloodstock. yearlings purchased to run in Australia.

American interests have worked recent editions of Brummitt again worked the sale hard, coming away with the sale to great effect, notably agent Mike Ryan and four lots in conjunction with O’Brien. Other trainers Mick owner Peter Brant. Despite the difficulties in travel, Ryan Price and Brad Spicer were also active. was among a welcome group of American-based buyers The refreshing aspect of this growing interest is to again make the trip, and he made it worthwhile by that Australian buyers tend to target middle-distance spending 4,490,000gns on 17 lots. stallions – their purchases included yearlings by Australia,

Also greatly encouraging was the level of Australian Camelot, Nathaniel, Sea The Stars, Sir Percy and Ulysses interest. Tried horses out of Europe have long captured the – in contrast to our domestic industry, which remains imagination of Australian buyers and after an early foray dangerously transfixed on speed. into the yearling market by agent Jeremy Brummitt and As Brummitt remarked when interviewed by Tattersalls, Australian trainer Danny O’Brien yielded this year’s South maintaining the allure of those middle-distance influences Australian Derby and Underwood Stakes winner Russian is a side of the business that needs support. So long may Camelot, one of the best horses currently in training Down their interest in those horses continue.