By Brian Sheerin
Croom House Stud boss Denis Brosnan opened up on how a gamble to back Goffs with some of the farm's best yearlings this year paid off when the County Limerick-based operation's Frankel (GB) colt (lot 323) out of Listed winner Loch Lein (Ire) (Invincible Spirit {Ire}) brought an Orby Sale-topping €2 million to Godolphin on Wednesday.
Godolphin also snapped up a €600,000 Wootton Bassett (GB) colt (lot 415) from Croom House Stud and Brosnan, one of the most successful businessmen in Ireland, said that Goffs chief Henry Beeby lived up to his promise in finding the buyers if the Orby was rewarded with the right stock.
He said, “It's great. We came to Goffs with seven horses this year and obviously we have good horses selling at Tattersalls next week as well. But we put our faith in Henry Beeby. He said that, if we brought the horses, he'd find the buyers. We took him at his word and it's worked out well for the two of us.”
Brosnan added, “There was nobody who hadn't vetted the Frankel. We've never had as many vets. It was just a case of who had the most money. We're delighted that he's gone to Godolphin and Charlie Appleby because it's the first time that they have gone big on Croom House Stud horses and we hope that the Frankel and the Wootton Bassett work out for them.”
Godolphin was the leading buyer at this year's Orby Sale. Anthony Stroud signed for seven yearlings to the tune of €5.27 million on behalf of operation.
Commenting on the sale's top lot, Stroud said, “A lovely horse–the first foal by Frankel and he moved extremely well. We all liked him and he came from Croom House Stud, who have bred a number of very good horses. We had to stretch a long way to get him but we are very pleased to get him on behalf of Godolphin.”
Just as he had done on the Norelands-drafted Sea The Stars (Ire) colt [267] who provided some early entertainment when selling for €900,000, Stroud held off the attentions of Coolmore as underbidders on the Frankel colt.
On that rivalry, Stroud said, “[Coolmore] are fantastic at what they do. They are second to none, really. They run a fantastic operation with a fantastic team of people. If we see a nice horse, it's always going to be tough to buy it. And that's the way it should be. Hopefully he'll go on. He'll go to Charlie Appleby.”
It might be easy to look on at some of the numbers posted on Wednesday and squirm. However, while it may come across like Monopoly money to some, the Croom House boss explained that days like Wednesday–where the stud cleared close to €3 million on colts by Frankel, Wootton Bassett and No Nay Never–are imperative.
Brosnan continued, “We run a different show than what some people might think. We have a medium-sized farm in that we keep just over 30 mares and we keep culling mares so that we are really breeding at the top end of the market. It would be very easy for us to go to 40 or 50 mares but we don't. We keep the numbers low and we use the best stallions and these are the results.”
He added, “The market is very good at the top. I daren't tell you that we were selling at the very low end of the market last week where we didn't even get the stud fee back. But you have those types of results every year which makes days like this all the more important.”
Like Brosnan, Stroud was full of compliments for Goffs after his buying spree was completed by a €1 million Frankel filly that was consigned by Kirsten Rausing's Staffordstown Stud. A half-sister to triple Group 2 winner Sandrine (GB), lot 465 was the only other horse to clear seven figures at the sale.
Stroud commented, “I think there were some very nice horses overall. If the horses are here, we will be here and we will be trying to buy. We've bought a range of horses and, needless to say, they are all well-bred and come from very good farms.”
On Staffardstown's €1 million Frankel filly, he added, “Staffordstown do a wonderful job and have bred so many wonderful horses. She'll be a lovely filly to go to our paddocks when she has finished her racing career. But I think we have bought some lovely horses this week.”
Meanwhile, Rausing, who was in attendance at Goffs all week, added, “I am very happy to have sold such a lovely filly. She is marvellous in every way and, like all good horses, she does everything right from the beginning to the end.
“I am very lucky to have bred her-I forget what generation she is, sixth or seventh-and I bought her ancestress Sushila in this very ring in the second year that Goffs was in operation in Kill, so it was in 1976. I've had the family ever since and every single name on the catalogue page I have bred.”
Respectable Figures Posted
Goffs issued a rallying cry to Irish breeders to support the sale with some of its best yearlings and, to be fair to the company, it paid off with the figures posted over the two days making for respectable reading.
For the 466 horses offered, 85% were sold (397), which represents a 2% drop on last year. The turnover was down 5% to €51,051,500 while the average was €128,594 [up 5%] and the median rested at €80,000 [down 5%].
Beeby commented, “Bring us your best and we will deliver” is our cry and I think it is fair to say that we have proved that point yet again over the last two days. Orby Book 1 is a world class sale with world class yearlings and attracts a truly global buying bench that is the measure of any yearling sale anywhere. As such it exists to provide the best possible marketplace for Irish breeders, and it give us enormous pleasure each time we deliver for them.
“Top prices of €2 million and €1 million are, of course, true highlights and we are indebted to Denis Brosnan and Kirsten Rausing for entrusting such spectacular yearlings to us and the Godolphin team for the confidence they have shown with their winning bids, not forgetting the ever important underbidders. The top lots were not one offs though, and we have been delighted to see double the number making €750,000 and over, the same for €500,000 plus, and more for €250,000 or above compared to last year. Those numbers have driven an average price that has grown by 5% to build on the huge gains we have recorded in recent years.
“'We are nothing without the horses' is another oft repeated Goffs phrase but it is as sincere as ever and we send our thanks and appreciation to every single vendor for each lot. We believe that increasing numbers are making Orby Book 1 their first choice for more of their elite yearlings as a result of the hard-earned results of the last few years and it was gratifying to hear so many noted judges agree. Add to that the undeniable USP of the Goffs Two Million Series that has so caught the imagination of buyers, particularly as it continues to evolve with another €500,000 of UK bonuses next year to go with the €500,000 on offer in Ireland, and you have the setting for a really strong sale.
“As the Irish National Yearling Sale, Orby traditionally caters to home grown yearlings, but it is gratifying to see a few “swim against the tide” with increasing numbers of UK vendors choosing Orby as well. The numbers are not big yet, but we are enthused by those that have made the trip and can only encourage more to come and experience the unique Goffs service especially with those that may be a little bit different. Competition is the driver of all vibrant markets and Goffs will continue to work tirelessly and with absolute integrity for the bloodstock industry.”
He added, “If the number of overseas vendors is small, that could not be said of our purchasers and we have been so pleased to welcome another international group, including several new faces to Kildare Paddocks. The Goffs Buyer Attraction Team, together with Irish Thoroughbred Marketing, have done another mighty job and we wish every buyer success with their Orby purchases wherever they race.
“While we reflect on a what one industry leader told me he viewed as a “very solid sale” there is no escaping the tightening of trade at a level, and it was very evident that the market is unforgiving of yearlings that do not have it all. A 85% clearance rate down by three points and a drop in the median equivalent to one bid at the level is a clear indicator of the reality of 2024 which has been the case at each sale thus far this year and we all have work to do to minimise the impact of whatever slow down is here so that we navigate our way through as best we can. Whatever happens, Goffs will continue to work with and for every client, however big or small, with enthusiasm, passion and drive; that's all we know.”
O'Leary: 'It's The Top 10 Per Cent That's Getting Rewarded In This Market'
It was a productive two days for Yulong, with the operation spending €1.31 million on five yearlings, including two by its own young Irish National Stud-based stallion Lucky Vega (Ire) at €150,000 and €100,000 respectively.
However, the haul was headed by Eddie O'Leary's homebred €600,000 Night Of Thunder (Ire) filly [357], with the Lynn Lodge Stud man sharing his thoughts on the market following the sale.
He said, “Great result. Bought by a very lucky man and hopefully she'll go on. The market is good for the right stuff. There's obviously a bit of market correction going on but that's good because, if you have what the people want, it's very, very good.”
He added, “The figures yesterday were actually alright. But in every sphere–be that point-to-pointers or high-class yearlings, there is market correction–you get more than ever if you have the real deal. It used to be the top third that got rewarded, now it's the top 10 per cent. And, if you are in that top bracket, you can get London.”
Blue Diamond Adds Potential Gems To The Team
As well as breaking new ground with its first yearling draft at Goffs, Blue Diamond Stud added a well-bred Night Of Thunder filly at €640,000 and a nice New Bay (GB) colt for €450,000 to the team on Thursday through bloodstock agent Hugo Merry.
The Night Of Thunder filly (lot 458) was sold by the Irish National Stud and is out of Listed performer Sea Mona (Tiz Wonderful), a proven producer of American Grade II scorer California Angel (California Chrome). Meanwhile, the New Bay colt (lot 455) was consigned by Ballylinch Stud and is a half-brother to no less than three black-type performers.
Merry said, “The Night Of Thunder is a beautiful filly and the sire is on fire. The mare is well able to produce. Imad [Al Sagar] is a very brave man. I just hope he has bought graded stakes winners. They are lovely yearlings.”
Talking Points
Joseph O'Brien was one of the big winners at the Orby. The leading Irish trainer signed for eight yearlings in his own name for €1,374,000 while a number of big-money yearlings that were bought by other entities are reported to be heading his way.
Mick Kinane was busy on behalf of the Hong Kong Jockey Club, signing for four yearlings for €1,190,000.
Did we get a glimpse of what is to come at Tattersalls next week? Frankel was the dominant force at Goffs with six yearlings selling for €4,380,000. Juddmonte's super sire was out on his own in terms of aggregate and average posted.
The general consensus was that Book 1 of the Orby was respectable. However, Goffs will be all too aware that we are only halfway through what is a massive week for Irish breeders and pinhookers alike. A lot rests on how the next two days pans out here at Kildare Paddocks. Book 2 of this session was disappointing last year to say the least. Here's hoping what has played out at Goffs on Tuesday and Wednesday will carry through to Book 2.
Pinhooking Fortunes On Wednesday
Of the 257 horses catalogued during Wednesday's session, 70 were pinhooks, and after 10 withdrawals, 60 horses passed through the ring. A total of 12 did not meet their reserves and were buy-backs, leaving 48 yearlings marked as sold. Of the latter group, 33 made a profit ranging from €900 to €295,000. A total of 15 lots lost money.
We have multiplied the price of the foal by 1.1 and added a running cost of €12,000 for keep, feed, veterinary, shoeing, sales prep and sales entry fees. Depending on whether someone has their own farm, or where they choose to board a horse, will obviously mean that costs for each individual can vary significantly.
It is worth noting that sometimes a horse can appear to be bought and sold by different names but have actually not changed ownership at all.
Golden Touch
I know where I'd be if I just turned €42,000 into €420,000 at the Orby Sale. I'd be upstairs in the balcony restaurant, throwing my weight behind a bottle of champagne, marvelling at my luck. Perhaps that's the difference between me and Noel O'Callaghan of Mountarmstrong Stud. Just a few minutes after the hammer had fallen on his Blue Point (Ire) filly (lot 364) out of a mare he purchased carrying what turned out to be one of the most expensive horses of the entire sale, O'Callaghan was back in the stableyard tending to his stock.
“We bought the mare [Moon Shaddow (Ire) (Galileo {Ire})] carrying the filly for €42,000 here a couple of years ago,” O'Callaghan said. “To be fair, she is very nice and was fierce busy all week. Every time she was pulled out, she behaved like an absolute queen. The mare is still young [eight] and she'll go back to Blue Point now. She has a Starman (GB) filly foal at foot but was barren this year.”
He added, “Goffs work hard at it and it has been good trade. There is no real story here. There are plenty of people for the nice horses. I'd six or seven people bidding on this filly. Al Shaqab were the underbidders. Trade is good for the nice horses. Hopefully the TDN will be writing about her next year. That's the most important thing.”
If the Blue Point filly is to one day earn a TDN Rising Star, it will be after she bolts up for trainer Richard Hannon, with Peter and Ross Doyle signing for the filly on behalf of Norway's Bente and Magne Jordanger.
Ross Doyle said, “Mountarmstrong have bred some very nice horses down through the years. Every time we went to see her, she stretched out. She seems a very classy filly. Our clients tried very hard to buy the Night Of Thunder filly [357] but got outbid on her. This was the next filly on the list and we're delighted to get her.”
Thought for the Day
What a difference a day makes. While the figures posted on day one would have painted a pretty picture, some of the bigger lots failed to meet their lofty expectations. There were no such complaints on Wednesday where the momentum of the sale didn't let up from start to finish. A job well done.
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