'Collective Achievement of a Fantastic Industry': Mahony Lauds Record December Sale

NEWMARKET, UK — Records, records, records. It didn't feel particularly blockbusting on the final half-session of mares at Tattersalls, but that is the nature of any sale. Big days, quieter days.

The days they all come for – Monday and Tuesday – certainly didn't fail to deliver some showstopping moments. It could have been predicted that Kia Joorabchian, after his spectacular spending spree at Book 1, and with plenty of stallions now at stud, would play a similarly prominent role during the December Sale, and his Amo Racing was again top of the buyers' list, with 8,375,000gns spent on ten fillies and mares, equating to roughly 10% of the whole sale's turnover. 

More of a surprise was the participation of John Stewart's Resolute Bloodstock – a big spender in the US who was a first-time buyer at this sale, snapping up five fillies in training for 6,265,000gns. Just over half of that was spent on the G1 Prix Marcel Boussac winner Vertical Blue (Ire) (Mehmas {Ire}), who became the highest-priced two-year-old ever sold at auction in Europe, and will remain in training in France with Francis-Henri Graffard.

Around 15 million gns of the sale's record aggregate of 83,817,900gns came from those two owner-breeders alone, and they were backed up by major buyers from Ireland, America, Australia, China, and Japan towards the top of the table, while significant investment from a large cohort of Indian breeders was also notable among the many nationalities present in Newmarket. 

It is a shame the hugely sought-after Juddmonte draft no longer provides the feature of Wednesday's session. The Juddmonte fillies and mares are always heavily perused and had been the traditional Wednesday highlight for many years. With so much focus on the Sceptre Sessions, it is almost impossible to do the Juddmonte draft justice in the time and space allowed. One thing is for sure, though, and that is that future stars will emanate from those drafts. One only needs to peruse the list of buyers this year – including Sumbe, Haruya Yoshida, Laundry Cottage Stud, Haras de Cadran, Haras d'Etreham, Heider Family Stables and the Irish National Stud – to know that they are passing from one set of good hands to others from around the world. 

Here's to the Stayers

The hardy few remained at Park Paddocks on Thursday. One unsuccessful vendor lamented, ” I knew we'd be taking her home. There are more people leading up horses than buying them.” And, yes, he had a point, but there are still always bargains to be found for those that stick it out and do their homework. 

Michael Swinburn and Ed Harper fought it out over the day's top lot (2168), the winning Showcasing (GB) filly Crown's Lady (GB), who was sold from Consign Ltd for 34,000gns. Swinburn, whose Genesis Green Stud was the second-top vendor at last week's foal sale, signed for the three-year-old filly in the name of Annie O'Rourke, who had assisted in the purchase.

Metin and Isik Kader Kalkavan from Turkey picked up seven mares over the last few days, including Never Miss (GB), Stetchworth Park Stud's daughter of Shamardal and Group 3 winner Pictavia (Ire) (Sinndar {Ire}), for 26,000gns. The 12-year-old mare is in foal to Mohaather (GB) and will join the rest of their purchases at the family's MK Stud.

“Dad has always been interested in racing, but it was in Covid we bought the farm,” said the couple's daughter Irem. “This is our first visit to Tattersalls, we have been very well looked after.”

By the time lot 2195 departed the ring on Thursday lunchtime, another 325,200gns had been added to the overall turnover from the sale of 59 final-day lots. Yes, this is a meagre return when set against the bigger days, but Thursday's figures, from a smaller session of only 85 offered, were up when it came to clearance rate (69%) and median 3,500gns (+17%). It is easy to imagine that in years to come mares of a similar ilk may well end up being offered in one of the increasingly prevalent online sales instead. 

The clearance rate of any sale is of course the greatest indicator of demand, and in this sector, the 2024 December Mares Sale fared particularly well: at 86% this was significantly up on last year's 76%. That led to a 22% increase in aggregate, while the average, at 124,539gns, was up by 16%. The median rose by 27% to 38,000gns. 

'Sustained International Demand'

Looking back on tremendous trade at Tattersalls this autumn and winter, chairman Edmond Mahony said, “Exactly eight weeks ago we reflected on a Tattersalls yearling sale of breathtaking proportions. Book 1 of the 2024 Tattersalls October Yearling Sale broke every conceivable record and the momentum from those extraordinary three days has shaped the entire Tattersalls sales season ever since.

“Record after record has been broken in the past two months, culminating in a Tattersalls December Mares Sale which has produced sustained international demand from start to finish and again reached unprecedented heights. It has been a fitting way to end an extraordinary year which at times has left even the most seasoned commentators a little stunned.”

Such buoyancy in the market may be hard to square with events elsewhere – particularly on a day when the front page of the Racing Post referred to a '£3bn black hole' for racing caused by the Gambling Commission's affordability checks on punters. That is essentially a problem for British racing, though it is one which could eventually have repercussions for Ireland, its nearest neighbour. Book 1 of the October Yearling Sale and the December Mares Sale are largely international affairs which bear almost no reflection on what happens in Britain, aside from the encouraging fact that there are still a number of high-end investors out there intent on establishing stud farms in the country. 

Mahony continued, “The Tattersalls December Mares Sale is an annual barometer for the international thoroughbred breeding industry and the records for turnover, average and median suggest that the appetite for the best European bloodstock is as strong as ever. There are few stages in the world that compare with the unique atmosphere of a packed Tattersalls Sale ring and yet again the elite Sceptre Sessions provided some compelling theatre and memorable highlights. The sale topping 4,800,000gns Classic winner You Got To Me is the highest-priced filly or mare in the world this year, the outstanding French Group 1 winner Vertical Blue became the highest-priced two-year-old ever sold at public auction in Europe when selling for 3,200,000gns and it is the first December Sale to have three fillies in training selling for 3 million gns or more with the Group 2-winning sprinter Believing completing the trio.

“In addition to the individual highlights the statistics paint an impressive picture. December Mares turnover rose more than 20% year on year to a new record high well over 80 million gns, average and median both posted wide-margin record highs and the combined December Yearlings, Foal and Mares turnover increased by more than 30%. Gains of this magnitude have all contributed to a record Tattersalls annual turnover up more than 20% from last year's total, but more importantly they have given a massive boost to the British and Irish breeding industries. While we cannot and should not pretend that all in the garden of British racing is rosy, we should nevertheless be proud that our sport and the wider British and Irish breeding industries continue to be held in the very highest esteem internationally and never has this been more apparent than during the 2024 Tattersalls sale season and throughout this December Sale.

“The overseas contribution has been immense. The best of British, Irish and European bloodstock has yet again enticed international visitors to the December Mares Sale in huge numbers with buyers prioritising the sale above all others. Not for the first time at Tattersalls this year the American participation has been particularly notable. There is a real appetite amongst leading American owners for high-class European turf performers and that has played a significant part in the success of this week's sale alongside demand from Australian, Chinese and Japanese buyers at the top of the market. Buyers from more than 30 countries and every continent have played an equally important role in creating a truly vibrant market, but above all it should be recognised that the British and Irish breeders, buoyed no doubt by the catalyst of the October Yearling Sale, have been the backbone of this extraordinary market.

“We are enormously grateful to each and every person who has contributed not only to the success of the 2024 Tattersalls December Sale, but also to a Tattersalls sales season like no other. A year like this is the collective achievement of a fantastic industry and the unwavering support of vendors and purchasers alike from throughout Britain, Ireland and further afield defines Tattersalls and ensures that we continue to explore every possible avenue to preserve the proud status of Tattersalls as Europe's leading bloodstock auctioneers.”

The Tattersalls December Sale featured one significant beginning and one ending. During the foal sale, Shirley Anderson-Jolag became the first female auctioneer to take to the rostrum at Tattersalls, and we hope to be hearing plenty more from her in the years to come. On Thursday, Jimmy George presided over his final sale day as marketing director of Tattersalls, having first started with the company in 1986. We wish him well in his new role at the International Racing Bureau.