By Emma Berry
NEWMARKET, UK—One of the few sales not to have been ousted from its traditional slot in the turbulent wake of the global pandemic, the Tattersalls July Sale had a markedly different feel this year but it would be hard not to be encouraged at the level of trade across the last two days in Newmarket.
As noted in Thursday's TDN, the clearance rate of 96% was the most extraordinary feature of the first session of the sale and that continued through to its conclusion on Friday afternoon at exactly the same rate. Only six horses put through the ring during the second day left without a new owner, meaning that, from the sale as a whole, 330 of the 344 lots offered were marked as sold.
From the quieter Friday session, another 1,768,900gns was added to the final turnover of 5,940,900gns. The sale's overall average was 18,003gns and the median was 10,000gns.
“For a bloodstock sale conducted under normal circumstances to register a clearance rate in excess of 95% is quite an achievement,” acknowledged Tattersalls chairman Edmond Mahony in his closing statement. “To do so in the current climate and with the prevailing government travel regulations preventing so many regular buyers from attending this week's sales is little short of phenomenal.”
Despite travel being restricted at present, no fewer than 19 different nationalities appeared on the buyers' list, the online bidding facility doubtless playing its part along with tried and trusted relationships with local agents, trainers and vets. That list of nations, which included Australia, America, Hong Kong, Japan, Kuwait, Saudi Arabia, the UAE, and Britain's nearer European neighbours is very much down to the hard work done by the Tattersalls team. While it is to their credit, as well as being a badge of honour for the strong international reputation of the quality of thoroughbred to be found within British racing, it is also a troubling reminder of the woeful state of the country's race funding mechanism. Simply, many owners and trainers are being pushed into a business model which encourages them to trade their best horses abroad in order to remain in operation. When once racing sold the dream of being associated a top-class horse, British racing now relies on its participants playing the bloodstock market and selling that dream to someone else. It is unsustainable for the sport in the long term.
While clearly there are other more pressing concerns for the world in general at present, those worries inspired by the shutdown of racing in Europe for several months as coronavirus stalked the continent have so far not been a major issue in the sales ring. Yes, the breeze-up sector has suffered significant delays and many of the consignors will have taken financial hits when selling horses privately and having to keep other horses for several months longer than usual. But while the breeze-up market was down, that drop was nowhere near as severe as initially feared. Similarly, there was plenty of interest at the middle- and lower-market level for the mixed fare on offer at the July Sale. So far, so good, though undoubtedly the yearling sales will still be approached with caution and concern.
Reflecting on the condensed spring and summer sales season which got underway in mid-June, Mahony said, “There have been four COVID-affected sales which have taken place at Tattersalls in the past three weeks and the clearance rate at every one of them has exceeded 80%. Not for a moment are we pretending that it has been plain sailing at all these sales, but they have all exceeded expectations and have all demonstrated an extraordinary resilience in the face of unprecedented challenges and an enduring appetite for British and Irish bloodstock at all levels of the market.”
Friday's closing horses-in-training session was headed by the China Horse Club-owned Pawpaw (GB) (Showcasing {GB}), the winner of a ten-furlong handicap last month for Clive Cox. The 3-year-old (lot 607) will leave that trainer's Lambourn stable for a short move to Paul Webber's Cropredy Lawn in Oxfordshire.
Jimmy George conducted the bidding on Webber's behalf and, after securing the gelding for 62,000gns, said, “Paul has been up here all week doing the hard yards, I have just stood here and waved. He should be a fun dual-purpose type.”
Another 3-year-old gelding, the dual-winning sprinter Wonderwork (Ire) (Night Of Thunder {Ire}), will be continuing his racing career in Dubai having been sold from Karl Burke's Spigot Lodge Stables as lot 646 to Alessandro Marconi for 60,000gns.
“The horse has some very good form and Night Of Thunder is on fire, but he comes from a very good trainer so that will be difficult to match,” said the agent, who was acting on behalf of Ahmed Bintooq.
Continuing his assessment of the July trade, Mahony added, “Over the two days of the Tattersalls July Sale we have sold horses to buyers from nearly 20 different countries, most of whom have had to explore unconventional ways in which to participate at the sale. Our recently introduced live internet bidding platform has added a new dimension and has been consistently used by international buyers, with many others using the telephone bidding service provided by our team on the ground. While the catalogue may understandably have lacked a little of the usual quality and quantity, demand for horses in training and in particular well-bred fillies and mares has given some cause for encouragement in uncertain times. We must thank vendors and purchasers alike, all of whom have shown a determination to keep the wheels of the industry turning in the face of considerable adversity.”
The next scheduled auction at Park Paddocks is the new mixed sale on Aug. 25 and 26. The final breeze-up sale of the season is currently set to be staged at Tattersalls Ireland on July 24. On Thursday it was announced that Tattersalls Ireland's Derby Sale, originally set to start next week, would be delayed until Aug. 11 to 13 while visitors from the UK are still required by the Irish government to spend 14 days in isolation on arrival in Ireland.
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