Park Paddocks is invariably a bowl of anxiety when it comes to Tattersalls’ flagship October Sale. So when a lighter atmosphere, one of almost joviality, descended upon the grounds ahead of Book 1, there was suddenly the very real possibility that those naysayers, like myself, who believed that the market was on the fragile side would be put back in their box.
The initial positive outlook was fuelled by the number of American-based buyers in town. The October Sale has been a happy hunting ground for agent Mike Ryan for several years now but word has it that Tattersalls really pushed the boat out this year to attract other American faces, and as the results ultimately showed, it paid off.
What few people did foresee, however, was the level to which Kia Joorabchian of Amo Racing helped drive the top end of the market. Amo spent just over 19.5 million guineas under its own name at Book 1 and signed for 2,565,000gns with Al Shaqab Racing. Joorabchian has been a significant player for a number of years, especially when it comes to targeting the sharper type of horse capable of perhaps taking them to Royal Ascot. However, such an increase in spending, up from the 1,120,000gns spent through different agents the year before, is a firm signal to the world of the extent of Amo’s ambition.
That is particularly true given the collection of new yearlings includes five seven-figure lots led by the 4,400,000gns Frankel filly out of Aljazzi and 4,300,000gns Wootton Bassett colt out of Park Bloom, whose valuation makes him the most expensive yearling colt ever sold in Europe. Joorabchian also came away with the Frankel sister to Alpinista at 2,500,000gns.
Joorabchian later went on the record to say that he had gone strong for the stock but happily so given their pedigrees would help him compete at the top end.
“We knew we had to pay this week,” he told ITV Racing. “We are competing against people that have been established for many years. A lot of the horses we bought, they were foal shares where people who were bidding against us were bidding 50 cents to the dollar. And we knew we had to go for it because the only way for us really to compete is get those high-pedigreed horses and we don’t have that level at the moment. It’s great for racing and I hope we’ve managed to trigger something where people go ‘oh wow we can do that too’. I think it’s a shame always having two or three people at the top. I hope we managed to lift it for the vendors – they really struggle sometimes – and I’m glad we managed to boost it for the whole market.”
Joorabchian’s participation did indeed trickle down through the market. But so did that from Sheikh Mohammed, whose Godolphin wound up as leading buyer with 18 bought for just over 22 million guineas.
With Blandford Bloodstock also busy at the top end for its various high-profile clients, Zhang Yuesheng’s Yulong active on both sides of the coin at the top end as vendor and buyer, trainer Karl Burke signing for 3,015,000gns worth of stock and Federico Barberini increasing his spend to close to 3 million guineas, the top end of market received a fuel injection that few could have predicted going in.
Tattersalls’ decision to cut the catalogue by 16 per cent to 449 horses also played its part. Quite simply, supply for once did not outstrip demand, and in turn that trickled down into Book 2, where no fewer than 93 horses made 200,000gns, smashing the previous record of 58 set in the 2022, and the first day of Book 3.
“It’s like being back in the States,” agent Alex Elliott was quoted as saying.”I was at Saratoga and thought that was the strongest market I’ve seen – but Tatts have come back and said ‘hang on, hold my beer!’”
I would concur with those thoughts. This year’s Keeneland September Sale was one of the strongest sales I’d been to in a long time, reminiscent of as far back as 2005 or 2006. However, that market is driven by different dynamics, notably prize-money which actually gives participants a chance to recoup costs. Which is why it was so encouraging to see the domestic market hold up so well. Books 1 and 2 were certainly the strongest European sales I’ve attended for many years.
“Everyone bashes our product,” commented agent Richard Brown. “But we all go racing all over the world and still the best racing is here, you can’t beat it. We still have the best product on earth and we should be proud of it. Being here has proved all that because there are buyers from all over the world here wanting our horses.”
The hope now is that this will trickle down into the foal market. Prior to Tattersalls, it had been a tricky year for some pinhookers and those trying to move on stock during Books 3 and 4 would probably attest to that idea too. On the other hand, huge rewards were forthcoming for those vendors with animals that ‘ticked all the boxes’. Look no further than Clifton Farm’s Sea The Stars colt out of Shahah, whose value rose from €50,000 as a foal to 510,000gns as a Book 1 yearling.
