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 The South African bloodstock industry was largely spared the havoc wreaked on international markets by a devastating global economic meltdown in the last quarter of 2008, and to a large degree, the local market managed to hold its own. The 2008 sales programme began on a promising note in mid-March when Equimark’s Vintage Yearling Sale posted positive all-round returns. The average of R138,000 was up 11.3% on last year’s figure while the aggregate rose by R8-million to just under R29-million, largely as a result of the 38 more horses that changed hands at the one-day sale. Conducted at Equimark’s Durbanville sales venue, this has become a popular vendue with international owners and once again, overseas buyers were actively involved. The highest-priced lot fell to
a local buyer, when last season’s leading owner, Chris van Niekerk, paid top
dollar for an athletic Captain Al half sister to champion sprinter, Mythical
Flight. Van Niekerk had snapped up the son of Jet Master for R340,000 at the
2005 sale but this time, he had to go to R1,4 million to win the bidding war
for the athletic bay. The country’s premier yearling
sale, Bloodstock SA’s Emperor’s Palace National Yearling Sale took place one
week later and a noticeable feature of the sale was the good-sized contingent
of international buyers present, no doubt due to world-class performances by
South African-trained and bred horses at the 2008 Dubai carnival. When the curtain came down on
the country’s elite Sale, records had tumbled for an amazing eighth consecutive
year, with both the aggregate and average showed double digit increases. The aggregate fell just R350,000 shy of
a phenomenal R200 million, an increase of 22.5%
on last year. For the entire sale, 501 of the 600 yearling catalogued
changed hands at an average price of R398,503, up 19.1% on the 2007 figure of
R334,466. The clearance rate of 83% remained virtually unchanged from last
year. Compared to five in 2007, nine yearlings fetched
R2-million or more, with a further 27 selling for seven figures and the general
feeling among buyers and trainers was that the stock on offer was of
exceptional quality. Although the record price of
R3.3-million, set in 2005 for Wonder Lawn, remained intact, two superbly-bred
individuals shared a new record price for a filly at R3-million, and both were
purchased by British agents. David Allan of Allan Bloodlines signed the R3-million
ticket for Romanesque, Klawervlei Stud’s Royal Academy filly out of a full
sister to young Coolmore sire, Holy Roman Emperor. Allan purchased her for
British businessman Philip Brown. Equimark’s KZN Yearling Sale, conducted barely three weeks
later, saw a marked scarcity of buyers, with many of the local trainers still
in the process of putting together their National purchases, and
disappointingly, none of the ‘big guns’ were present. A tough day’s trading was
reflected in a clearance rate of only 59%, well down on last year’s 75%, when
the sale took place in early March, two months prior to the National Sale.
Nevertheless, the average of R52,413 was only 3% down on the 2007 figure. The very first lot into the ring also emerged as the
highest priced individual of the day. Catch The Dawn, a daughter of Danehill’s
classic-performed son Catcher In The Rye, drew spirited bidding and was
eventually knocked down to ex Zimbabwean trainer Bart Rice at R250,000. Bloodstock SA’s decision to move its GrandWest Yearling
Sale from its traditional slot in January to mid-May backfired, with returns significantly
down on 2007 figures. With no less than 56 withdrawals, the average dropped by
22% to R72,239 and the aggregate of just over R13-million was markedly lower
than that of R16,685,000 the year before. Heading
the two-day sale at R525,000 was a smartly made colt by Jallad consigned by the
Ceres-based Daytona Stud. Trainer Joey Ramsden was the successful bidder for
the full-brother to SA Classic/SA Derby runner-up Steiger, a former inmate of
the Ramsden stable. Wisely, Bloodstock SA have reverted to an earlier date and
the 2009 sale will be held on February 8. The Sibaya Yearling Sale in Durban, although solid,
likewise did not match the levels of recent years. The opening session
resembled a roller coaster ride, and although trade improved markedly on the
second day, the sale reflected double-digit drops in both gross and average. Just under 80% of the 292 lots catalogued found new homes
for a total of R15,765,000, almost 14% down on last year’s R18,264,500, while
the average price of R67,085 showed a 10% decrease on last year’s R74,549. For
the second successive year, a daughter of Klawervlei stallion National Emblem
fetched top price, when KZN trainer Kumaran Naidoo had to wait for the
fourth-last lot of the sale to secure Model Nation from the Boland Stud draft.
He had to pay R410,000 for this cracking individual, and as luck would have it,
barely 24 hours later her half-brother London Guest added valuable Gr.3 black
type to the pedigree page. The economy had started its downward trend by the time the
two-day National 2YO Sale took place in mid August and in keeping with the
Sibaya Sale, figures fell, however, the average price of R80,526 was only
slightly down on 2007’s record R81,106, albeit that this year’s catalogue
featured 100 less lots. After a somewhat slow first session, trade picked up markedly on day two and after the hammer fell on the final lot through the ring, nearly 81% of the 409 catalogued had changed hands. Significantly, members of the fairer sex held sway, with no less than seven of the top ten lots being fillies. Kruger Park, a daughter of veteran sire Al Mufti and
accomplished New Zealand-bred mare Hancock Park, topped the sale at R480,000.
Offered by Highlands Farms as agent, the strong, quality bay was signed for by
trainer Geoff Woodruff, acting on behalf of Henry and Patricia Devine, owners
of dual champion stallion Jet Master. As the sheer scale of the global economic crisis became
apparent, the Emperors Palace Ready To Run Sale in November was approached with
a degree of apprehension, however, it bucked all trends with record returns. The aggregate of R25,850,000 reflected a staggering 52%
increase on last year’s figure of R16,965,000, while the average price of
R174,662 rose by almost 34% from R130,500 in 2007. History was made when no less than 3 lots broke through
the magical million rand barrier and the previous record price of R900,000 set
in 2007 for a colt by Hawk Wing, was made to look like small change when Cape
trainer Basil Marcus outlayed R2,2-million for a stunning Australian-bred son
of Rock Of Gibraltar. In stark contrast to the yearling market, that for
breeding stock proved to a different kettle of fish, with many animals offered
for sale failing to find new homes. Quality always sells, and this was never more evident than
at the dispersal of Bruce and Anne Nicholas’
Hallmark Thoroughbreds, held at the Mooi River stud farm in early July. As
expected, First Arrival, the dam of
champion sprinter Let’s Rock ‘N Roll was the star attraction and at R900,000, she
emerged as the top-priced broodmare of 2008. Zimbabwean breeder John Harris had
the final say for the daughter of champion broodmare sire Northern Guest,
offered for sale in foal to Western Winter. A highly talented dual Gr.3 winner, First Arrival was the
Champion three-year-old filly in Zimbabwe in 1999 and had universal appeal,
hailing from the famed Party Time family of champion Trademark; Gr.1 winner
Morisco; SA Oaks winner Lambarina and last season’s Gr.2 KZN Fillies Guineas
winner, Sally Bowles. The mare’s yearling own sister to Let’s Rock ‘N Roll
fetched R320,000. Mares from the renowned Lammerskraal Stud dominated
Equimark’s Mare and Weanling Sale in May, with the top four lots all
originating from the Ceres farm’s superb draft. American-bred Quiensabe, a
daughter of Mt Livermore and carrying her second foal to champion stallion
Western Winter, changed hands for the top price of R700,000. A half-sister to
Canadian Gr.1 winner Salty You, the five-year-old chestnut was bought by Form
Bloodstock. Alas, not even the Lammerskraal draft could prevent a
dramatic decline in the final figures - the average price dropped by 36% from
R78,817 in 2007 to R50,392, and even though there were 50 less lots catalogued,
the aggregate still fell by a whopping 61%, proving once again that buyers of
breeding stock have become ultra-discerning. An individual with a thin page has no commercial value, a
point reinforced at the GrandWest Mixed Sale two weeks later. Although the size
of the catalogued had increased threefold, the clearance rate was a paltry 52%,
with only 126 of 241 entries changing hands. Surprisingly, the average remained
more or less static, dipping only slightly to R65,413 from R68,117 in 2007. At
R500,000, breeder Peter Mills won the battle for Al Nibari, the 12-year-old dam
of Gr.1 winner Little Miss Magic. A daughter of leading broodmare sire Al
Mufti, she sold in foal to young stallion Tiger Dance, an own brother to
Giant’s Causeway. The Riethuiskraal Dispersal Sale of broodmares and
weanlings in mid-June confirmed the status of Jet Master as one of the hottest
sires in the country, with three weanlings, all out of mares by leading
broodmare sire Elliodor, selling for a combined total of R1,475,000. Outstanding October-foaled Arista, a strong, scopy
half-sister to Gr.3 winner Key Decision, commanded a sales topping final bid of
R600,000, with David Hepburn-Brown of Hemel ‘N Aarde Stud signing the ticket on
behalf of Marsh Shirtliff, who is part-owner of Jet Master’s most successful
son, Pocket Power. The top-priced broodmare at R500,000 was Romana, an own
sister to Gr.1 winning sprinter O Caesour, from the extended family of
champions National Currency, Harry’s Charm and Enchantress. Tawny Syndicate
purchased the five-year-old mare, who was carrying her first foal to the cover
of seven-time Gr.1 winning champion, Daylami. The Sibaya Mixed Sale in July, the final major mixed sale of the year, more or less managed to hold its own, with the average price actually rising marginally from R46,980 to R47,771, no doubt attributable to a smaller catalogue compared to that of 2007. An unraced two-year-old brought the top price of the sale
when trainer Mike Bass offered R700,000 for a New Zealand-bred son of Montjeu, thereby
equalling the top price fetched by Infinite Spirit twelve months previously.
Offered as part of the dispersal of racing and breeding stock of the late
Laurie Jaffee, the colt is the fifth foal of New Zealand Gr.2 winner Maxamore
and hails from the family of New Zealand Oaks winner Brown Satin, whose
imported son Be Noble won the Gr.1 SA Derby in the mid-eighties. Dubai-based Dr Jim Hay, among the leading buyers at this
year’s National Yearling Sale, ventured into the role of breeder by paying
R300,000 for the maiden Spirit Leader, the top-price among the broodmares. A
three-time winning daughter of Rakeen, her attraction was evident, being a
half-sister to stakes winner Shoot The Booze and most pertinent, to Little
Erna, the dam of 2008 Dubai Gr.3 winner Lucky Find. Whereto in 2009? With the world now largely in the grip of
a recession, uncertain trading conditions await South African breeders, who no
doubt will be facing the new year with more than a little trepidation. - AvdB |