Inglis Easter Closes on a High

by Kelsey Riley

The first 63 lots of the third and final session of the Inglis Australian Easter Yearling Sale yesterday comprised the final offerings of ‘Session One’ of the sale, after which the action shifted down a gear for ‘Session Two.’ Trade remained strong throughout the day, however, and session one saw the popularity of Fastnet Rock fillies continue, as three daughters of Coolmore’s champion sire were sold for a combined A$2.55 million during the first few hours of the sale Thursday. Daughters of another champion sire, Arrowfield’s Redoute’s Choice, were also popular yesterday, with a pair sold for A$920,000 and A$520,000 during session one. 

Session one posted seven-year highs for gross, average and median. A total of 350 horses changed hands through the close of trade Thursday for A$102,110,000. The average of A$291,743 was up 15.4% from 12 months ago, and the median climbed 5.3% to A$200,000. Seventeen percent of the offerings failed to sell at the fall of the hammer, which nearly mirrored last year’s figure of 16.5%. 

Session two also posted admirable results. The gross of A$9,085,500 for 96 sold was a record for the session, which was introduced in 2009. The average dropped marginally (0.3%) to A$94,641, while the overall quality on offer was highlighted by an increased median of 80,000 (up 14.2%). The passed-in rate for session two was 21%. 

(Note: Inglis updates its statistics to include private purchases on passed-in lots for the duration of the sale. Figures used for comparison here are the figures reported end-of-sale last year by the TDN). 

Inglis Managing Director Jonathan D’Arcy pointed to the session one clearance rate as a highlight. 

“The average for session one is up about 15% on last year, but more pleasing than that is the fact that we’re up to an 82% clearance, and we’ll probably get up to 83 or 84% tonight [with private purchases],” he said. 

Reflecting on session two, D’Arcy pointed to the fact that many of session one’s top buyers stuck around through to the very last lot through the ring. 

“It was great to see session two go so well, and the last horse [through the ring] being bought by the Hong Kong Jockey Club just vindicated the fact that we’ve got the sale set up the right way. We had Angus Gold, Segenhoe Stud and George Moore from Hong Kong; a lot of international buyers and a lot of local buyers concentrating on that second session, so we couldn’t be happier about the way the week’s gone.” 

One of the main talking points on the sales grounds throughout the week was the participation of international buyers, particularly from America. Many internationals also teamed up with locals and other internationals on prospects to race in Australia, creating fierce competition at the top of the market. D’Arcy said that type of teamwork was unprecedented. 
“In the past we’ve seen buyers from the likes of Hong Kong, Japan and Singapore–a lot of the southeast Asian countries–buying here and taking them there to race,” he said. “Of course we’re at a disadvantage when trying to sell to Europeans and Americans because of the Northern Hemisphere/Southern Hemisphere issue, but now we have such good prize money [that] what we’re seeing is the American farms and the American investors are wanting to buy into colts and fillies here because of the strength of their pedigrees, and they’re happy to race here under our conditions with the prize money that’s on offer. It’s the same with the Europeans–they’re buying into top-class families and they see these families can appreciate in price throughout their racing careers. It’s a very healthy industry here at the moment and its great to see Australia is on the world map.” 

Pedigree Doesn’t Lie… 
Coolmore Stud’s Fastnet Rock (Aus) filly out of the G2 Reisling S. winner Hips Don’t Lie (NZ) (Stravinsky) (lot 437) has enjoyed a significant update since the printing of the catalogue. Her 2-year-old full-sister, Lake Geneva (Aus), has stamped herself as one of the country’s most talented juveniles despite still being a maiden. Second on debut in the 
G3 Widden S. Jan. 31, Lake Geneva has since finished third in the country’s two most important 2-year-old events: the G1 Blue Diamond S. and the G1 Golden Slipper S. Lake Geneva, the second foal out the mare, was hammered to Hawkes Racing for A$1 million here 12 months ago, and her little sister made the same amount yesterday from trainer John Sadler–the Australian version. 

The Victorian-based Sadler, who revealed that he had half the filly sold, said he is hoping for some luck with his latest purchase. 

“A client paid a million for a colt here a few years ago, and it was no good,” he quipped, before adding, “I’ve had a few Fastnet Rocks, but I’ve lost most of them to [fellow Aquanita Racing trainer] Robert Smerdon.” 

Sadler said he has found the market very strong this week. 

“I thought I wouldn’t get her under A$800,000, but that was my last go,” he revealed. 

Lake Geneva, who is owned by a Coolmore partnership, will be in action during day two of The Championships Saturday in the Listed Percy Sykes S. 

The Choice Youngsters… 
The early part of the session yesterday saw a strong run for Arrowfield’s three-time champion sire Redoute’s Choice (Aus), who was responsible for a pair of A$500,000-plus fillies in the space of a few minutes. The dearer of the two was lot 409, a filly from Newgate Farm who was hammered down to Sheikh Hamdan’s Racing Manager Angus Gold for A$920,000. 

Gold, who was underbidder on three of the top four lots during Wednesday’s second session, quipped, “Yesterday I would have pulled up, but after how soft we were yesterday, I had to keep going a bit.” 

He added, “When you miss out on the colts like we did yesterday, it puts you on the back foot a bit.” 

Gold was nonetheless pleased to secure this filly. Bred by SF Bloodstock, the late October foal is the third produce from the Group 1-placed Fleur De’here (NZ) (Dehere), herself a daughter of a Group 2 winner and a half-sister to G1 SAJC Australasian Oaks victress Tully Thunder (Aus) (Thunder Gulch). She is destined to stay in Australia with trainer David Hayes. 

“She was really sharp–she’s a late foal, but she looked a real 2-year-old Redoute’s filly rather than a big, scopier type,” Gold explained. Expanding on the strength of the market at the top end Wednesday, Gold said, “I knew we’d struggle, but it’s not often you go in with four colts, with the sort of budget I’ve got, and you can’t buy one of them. That’s unusual. It shows how strong a sale it is, to be underbidder to the Americans twice, Hong Kong once, to Sheikh Mohammed bin Khalifa–lots of different parts of the world. That’s fantastic–you wouldn’t have had that [in Australia] 10 years ago.” 

“I haven’t been able to buy the colts we’ve wanted, and while it’s bad for me, it’s fantastic to see such a strong market,” he added. “It really shows Australia has come of age and has such international appeal now.” 

Gold stayed busy during session two, coming away with the top lot of that portion of the sale in the form of a Snitzel (Aus) colt (lot 504) for A$500,000. Gold was the leading individual buyer by aggregate for the whole sale, with 19 bought for A$6,615,000, although the China Horse Club and its various partners purchased a total of 21 for A$9,125,000. 

Two lots earlier, the latter entity, John Warren and New Zealand-based agent Dean Hawthorne teamed to secure lot 407, another Redoute’s Choice filly, for A$520,000. Out of the stakes-winning Flame of Sydney (Aus) (Encosta de Lago {Aus}), the bay is a half-sister to Group 3 winner Not Listenin’tome (Aus) (Dylan Thomas {Ire}). She is bred on the same cross as multiple group winner Musir (Aus) as well as this season’s current leading first-season sire, the late Beneteau (Aus). 

“We’ve put a partnership together with Jonathan Munz and Dean Hawthorne, and [China Horse Club agent] Michael Wallace and myself were working the sale and getting the shortlist for some nice fillies, and we just thought she was a particularly above-average filly with a beautiful pedigree, so we just put a team together,” Warren explained. 

Speaking of his experience in Australia this week and the appeal of the market to Europeans, Warren said, “I think The Championships have helped, and the strategic timing around the sale is very good. I think the more success that comes of shuttling horses, the European and overseas investors will understand the bloodlines. All that is profiled by the new championships, which caters for 2-year-olds, 3-year-olds, 4-year-olds, and colts and fillies. I think it’s all just really happening. They have the government behind them as well, so there’s so many positives.” 

Warren is also an advisor to Sheikh Joaan Al Thani’s Al Shaqab Racing, which will shuttle its first sires Down Under later this year–Toronado (Ire) (High Chaparral {Ire}) and Olympic Glory (Ire) (Choisir {Aus}). 

“Al Shaqab have come into the bloodstock industry based in Qatar and they’ve been very fortunate to have Toronado and Olympic Glory in their armory so early on in their operation,” Warren said. “They are two horses, in my opinion, that really tick the boxes. They’re big, powerful horses physically, they’re very fast horses and they’re very precocious horses, and they’ve got bloodlines that relate to Australians. So we’re hoping Al Shaqab will develop their interests here, and the stallions is the first toe in the water to do that.” 

Arrowfield consigned lot 407, and they ended the sale as leading consignor by aggregate, with 28 sold for A$10,695,000. 

Fastnet Fillies Flying Again… 
In their first year in a public training partnership, the father-and-son team of Peter and Paul Snowden have turned out the talented 2-year-old colt Pride of Dubai (Aus) (Street Cry {Ire}) to win the G1 Blue Diamond S. and G1 Sires’ Produce S., and they have high hopes for another youngster after securing lot 461 for A$850,000 Thursday. From the draft of Coolmore Stud, which bought into Pride of Dubai after his Blue Diamond victory, the Fastnet Rock (Aus) filly is out of Singapore’s Horse of the Year and multiple champion Jolie’s Shinju (Jpn) (Jolie’s Halo). Peter Snowden noted that he and Paul train both the 2-year-old and 3-year-old out of the mare: the 3-year-old, a Shamardal filly named Typhoon Jolie (Aus), won her first two outings late last year, and the 2-year-old is a Medaglia d’Oro colt. 

“She’s a nice filly,” Snowden said. “I know a bit about the family as well; I have a half-sister by Shamardal and a colt by Medaglia d’Oro. They both have good talent, and this is a lovely type.” 

Of the dam, Snowden remarked, “She’s very special. Her record speaks for itself. I’m sure one of her stock are going to get somewhere near her [talent], and it could be this filly.” 

Comparing his newest purchase to her siblings, Snowden said, “She’s a lot stronger–that’s what I like about her. The Shamardal filly was very backward and it’s taken her a while to get there. The Medaglia d’Oro is a nice colt, but this filly is a bit above those two.” 

Fastnet Rock fillies have proven extremely popular this week. 

“They’ve sold really well at this sale and they’re lovely fillies,” Snowden noted. “There’s already been a good one in Atlantic Jewel and there’s going to be more to come, so hopefully it’s this one.” 

Coolmore struck for a A$1.75-million Fastnet Rock filly during Wednesday’s second session, and they added another daughter of their champion sire to their arsenal Thursday when prevailing at A$700,000 for lot 424 from Milburn Creek, which consigned the A$2.2 million sale-topping Snitzel colt Wednesday and ended the sale as leading consignor by average with all six consignees selling for an average of A$679,167. 

Lot 424’s family is one that has served Coolmore well in both hemispheres; the filly is a half-sister, bred on the same sireline, to dual hemisphere champion sprinter Starspangledbanner (Aus) (Choisir {Aus}), who Coolmore bought prior to his victories in the GI Golden Jubilee S. and GI July Cup, as well as the dam of G1 Thousand Guineas victress Amicus (Aus) (Fastnet Rock {Aus}). It is also the family of Coolmore’s exciting 3-year-old in Ireland Highland Reel (Ire) (Galileo {Ire}), winner of last year’s G2 Vintage S., who is currently 12-1 for both the G1 2000 Guineas and G1 Epsom Derby. 

WinStar ‘Ready’ for Aussie Investment… 
The Easter sale has seen strong representation from American buyers, including Stonestreet, Spendthrift and Roy and Gretchen Jackson, and Kentucky powerhouse WinStar dipped its foot into the Australian market for the first time Thursday when partnering with the China Horse Club and Stonestreet on a A$450,000 More Than Ready colt (lot 427). 

WinStar are well familiar with the sire, which they stand in Kentucky, and they have a history with both partners: WinStar campaigns dual Grade I winner and GI Kentucky Derby hopeful and TDN Rising Star Carpe Diem (Giant’s Causeway) with Stonestreet, and in February the China Horse Club bought into WinStar’s GI Champagne S. winner Daredevil (More Than Ready). 

“We purchased a share in Daredevil, a Grade I-winning son of More Than Ready who WinStar own in America [in partnership with Let’s Go Stable], so that’s how the relationship began,” explained the China Horse Club’s Michael Wallace, who signed the ticket. “I guess they’ve seen the buoyancy of the Australian stallion market and decided to join us in a really great colt. It’s a great privilege to have them on board and be associated with them.” 

Consigned by Kia-Ora Stud, the chestnut colt is out of Gunawati (Aus) (Galileo {Ire}) from the extended family of Royal Academy and Storm Cat. Wallace said he would likely go into training with Peter and Paul Snowden, who already train for the burgeoning Stonestreet Stable in Australia, including G2 Challenge S. winner Miracles of Life (Aus) (Not A Single Doubt {Aus}). 

WinStar’s Elliott Walden jetted into town last week to inspect Easter yearlings, but left before the start of the sale. 

“I spoke with Elliott when he was down and he got a feel for the market and things like that, which is great,” Wallace said. “It’s good to see more international buyers looking at Australia as an option.”