Beneteau Colt Tops Book 2

BENETEAU COLT TOPS BOOK 2 
By Kelsey Riley 
Action on the Gold Coast shifted down a gear yesterday as the Magic Millions Gold Coast Yearling Sale rolled into its fifth day and the single-session Book 2. The momentum built through Book 1 continued, with 179 lots sold for A$9,863,000 (US$8,032,575) for a clearance rate of 88%, a figure that rose five points from last year. The average of A$55,101 (US$44,875) was up 14.9%.

“There was a big crowd on hand and very competitive bidding from start to end which is reflected in the outstanding clearance,” said Magic Millions Managing Director Vin Cox. “The total sale has now grossed over A$102.6 million, which is the biggest yearling sale conducted in the Southern Hemisphere in almost seven years.” 

A colt by Beneteau (Aus) (Redoute’s Choice {Aus}) topped the session when knocked down to Blue Sky Bloodstock for A$220,000. Consigned by Arrowfield, lot 860 is out of Sassy Peg (Aus) (Fusaichi Pegasus) from the family of four-time Group 1 winner Encounter (Aus). Beneteau won the G3 Blue Diamond Prelude while racing in partnership with Arrowfield and Blue Sky, and stood at Arrowfield until his untimely death a year ago. Beneteau is represented by his first 2-year-olds this year, and had four others sell for six figures yesterday. Three of his progeny yesterday were purchased by Blue Sky, which has campaigned two of his juvenile winners, including Prompt Return (Aus). 

“We’re obviously very interested in his progeny after buying Beneteau as a yearling and the early success with Prompt Return,” Blue Sky Bloodstock’s Julian Blaxland said. “I thought he was an outstanding individual and he happened to be by Beneteau so we had to have him.” 

Another sire who was well received yesterday was Australia’s 2013/14 champion first-season sire I Am Invincible (Aus) (Invincible Spirit {Ire}), who was responsible for two of the top six lots. Lot 811–who is out of Mariana Sunset (Aus) (Fantastic Light), a daughter of dual Group 1 winner Juanmo (Aus) (Flying Spur {Aus})–was picked up by trainer Paul Perry for A$200,000. Later in the session, Magic Millions as Agent signed for lot 841, an I Am Invincible colt from the family of G1 Doomben Cup winner Mr Bureaucrat (Aus) (Bureaucracy {Aus}), for A$180,000. 

Zoffany Picks Up Freshman Baton… 
The prominence of first-season sires was one of the overriding themes of Book 1 of the Magic Millions Gold Coast Yearling Sale, and that pattern continued into Book 2 yesterday, with Coolmore’s Zoffany (Ire) (Dansili {GB}) responsible for two of the top five lots. Victorian trainer Ciaron Maher signed for the pricier of the two when succeeding at A$180,000 for lot 871, a colt from Berkeley Park Stud out of the Galileo (Ire) mare She’s Sirius (Aus), a half-sister to stakes winner Spectrolite (Aus) (Stratum {Aus}). 

Paul Perry certainly knows a good horse when he sees one, having conditioned Group 1 winners and now leading sires Choisir (Aus), Fastnet Rock (Aus) and Stratum (Aus), and the Newcastle-based trainer threw his support behind another young stallion yesterday when going to A$170,000 for a colt by Zoffany (lot 730). 

While he is perhaps best known for running Frankel (GB) (Galileo {Ire}) to three-quarters of a length when second in the 2011 G1 St James’s Palace S. at Royal Ascot, Zoffany was also a precocious juvenile, garnering the G1 Phoenix S. at The Curragh. Zoffany is represented by his first Australian-bred crop here, and his first Northern Hemisphere yearlings were well received at the sales last year, averaging $80,196 

“Zoffany was quite a horse himself–he was a good racehorse and a great type of horse,” Perry remarked. Of his newest acquisition, the trainer added, “I just thought he was a great athletic type. He was a great walker and he carried himself well. He’s just a real standout of a colt.” 

The early September foal is out of Centaure (NZ) (Centaine {Aus}), who has produced three winners. 
Perry was amongst the leading buyers through Book 1 of the sale, buying 11 lots for A$2,247,500. He was complimentary of the quality of horse on offer. 

“It’s been an extra strong sale,” he noted. “There has been great quality, I thought–it’s one of the better sales I’ve been to in terms of type of horse.” 

The South Australian-based Mill Park Stud, which enjoyed much success during Book 1 highlighted by the sale of Wednesday’s session-topping A$850,000 Sepoy filly, capped a perfect nine-for-nine Magic Millions sale with the sale of a Duporth (Aus) colt (lot 909) to Magic Millions as agent on behalf of Queensland trainer Gillian Heinrich. 

Syndicates Take Center Stage… 
For those accustomed to the sales scene in the U.S. or Europe, it would come as somewhat of a surprise to see the majority of high-priced lots in Australia purchased on behalf of syndicates, with many lots knocked down on spec to syndicators or trainers who are then responsible for selling shares. This is the culture of the racing industry in Australia, however, where it is not unusual to pick up a racing program and see a long list of names beside most runners. Indeed, during the 2013/14 racing season in Australia 1,317 horses were listed with 10 or more owners, and that figure has risen steadily since 2009. Many of Australia’s leading trainers are directly associated with syndicators, and some of Australia’s most prominent racehorses in recent years have been owned by syndicates, including Sebring (Aus) (More Than Ready), who won the G1 Golden Slipper and was sold for stud duty for more than A$20 million; Starspangledbanner (Aus) (Choisir {Aus}), the G1 Caulfield Guineas winner who was purchased by Coolmore and went on to international Group 1 success; G1 Blue Diamond winner Reward for Effort (Aus) (Exceed and Excel {Aus}) and dual Group 1 winner Platelet (Aus) (Strategic {Aus}). 

Tom Reilly, Chief Executive Officer of the Thoroughbred Breeders’ Association and the marketing body Aushorse, explained that racing associations across the country have recognized the advantages of encouraging a model that allows people to invest in horses at all levels. 

“Syndications in Australia have a far bigger share of the market than in the UK or America,” Reilly said. “The racing associations here have looked at that growing model and done things to help. Here, you can have up to 20 names in the [racing program]. So if you’re a syndicator and you want to sell a horse, you can say to someone, ‘you’ll get to see your name in the card each time,’ which is a big thing.” 

Reilly also recognized that it is likely easier to get the public involved in syndicates in Australia because racing is firmly ingrained in the culture. 

“In Australia, racing is much more a part of the sporting culture,” he said. “You can bet in bars and racing and the form cards are in the newspapers every day, so there’s a huge interest in racing. It’s more part of the fabric of the country, so to give people the opportunity to get involved in a horse for $5,000 or less, which happens, is a real advantage.” 

Saturday’s Magic Millions raceday, which offered eight races restricted to sales graduates highlighted by the A$2 million Magic Millions 2YO Classic and the A$1 million 3YO Guineas, was an example of how owners can cash in on a small investment–the most expensive of the eight winners was purchase for A$150,000, by Gai Waterhouse on behalf of a syndicate. 

Next year’s Magic Millions raceday–and the ensuing seven years–will be worth A$10 million with support from the Queensland government, and many buyers have admitted to going a few bids farther than they would have otherwise knowing those rewards will be on the line. 

“The extra prizemoney Magic Millions puts into the races is a huge advantage for syndicators and trainers who carrying the risk by buying a horse then trying to sell it to a group of people,” Reilly said. “Having the sales races and the prizemoney is a huge carrot for those people. You saw the prices of the horses that won yesterday and they weren’t all top of the sale. So it can be done, and people see that.” 

Reilly recognized the momentum created by next year’s Magic Millions raceday–which will be the richest meeting in the country–is likely to have positive reverberations across the country. 

“The extra money can only be a good thing for the whole industry across the board,” he said. “We’ve had a strong sale here, and I hope very much that will flow through the other sales.” 

Being and a member of a syndicate also encourages camaraderie and sparks new friendships. 

“If you have horse in partnership with a bunch of people, some who you may know and some you may not, you suddenly make a whole new bunch of friends,” Reilly said. “You go to the races in a group, and you’re all invested together in something, and I think that’s exciting.” 

Reilly reiterated that racing’s lofty status in the Australian sporting culture helps encourage people to get involved and buy into a syndicate. 

“I think fundamentally here what makes the biggest difference is racing’s place in society,” he said. “If you come for the Spring carnival and Sydney’s Championships in April, racing is prime time. It’ll be the first or second item on the news. Gai Waterhouse would probably be the most recognizable sportswoman in Australia. It’s incredible when you come from elsewhere in the world where racing struggles to get into the sports pages or doesn’t have a great reputation. Here, racing’s not only in the sports pages, but often on the front page.”