HOLMES ‘UPTURN CONTINUES’

There is plenty to be excited and positive about as South African horseracing fights its way off the canvas after a few tough years, capped by the covid-19 pandemic.

BSA CEO Michael Holmes told the Sporting Post this week that sales results were a strategic barometer of the industry’s health and that the three sales hosted in three different provinces by South Africa’s longest standing equine auction house this year so far, were evidence that things were on an upward trajectory.

“We have used emotive words like resilience and passion previously, but the truth is in the statistics. The foundation for growth has never been stronger, and after the Cape sale and Nationals earlier this year, the recent KZN Yearling Sale really underscored the upward momentum.”

The KZN Yearling Sale’s aggregate rose by a staggering 50%, with the aggregate of R27.1 million way up on the aggregate of R18.1 million achieved at the previous year’s auction. A strong and resilient middle market ensured that both the average and median prices rose, with the average reaching R184 354, up from R123 129, and the median soaring from R75 000 to R145 000.

Three months earlier, the National Yearling Sale saw gains in aggregate, and average and median prices, while the clearance rate at the sale improved off results seen in 2022. The sale’s aggregate rose by more than R16 million, with the gross aggregate reaching R153.8 million. The average and median rose to R443 228 and R300 000 respectively.

Two months prior, the Cape Yearling sale’s aggregate rose from R22.57 million to R25.965 million, with the average and median prices increased from R155 655 and R110 000 respectively to R171 954 and R130 000.

“Every sale has a unique appeal and character of its own, but what 2023 has shown so far is that irrespective of the geographics and perceptions, there is a horse for every taste and pocket, and a desire from the market to get involved and race. There are a lot of positive vibes about the future of racing in South Africa, and the changes are starting to reflect in the sale arena. The racing eco system relies on a host of factors and we are looking forward to greater things in 2024,” concluded Holmes.

Bloodstock SA will host the August 2yo Sale in Johannesburg on 26 and 27 August.