Bill Oppenheim: Ocala Central
The OBS March 2-year-old sale had 200 more horses catalogued than last year, and 125 more sold, for a 48% increase ($18 million) in gross, though a 9% drop in average (still $170,804). So for their April Sale last week to have actually risen 7% in average, with virtually the same number catalogued as last year, underlines the dominance of OBS in the current North American 2-year-old sale market. As you can see from the Weekly Sales Ticker, over 80% of the 2-year-olds sold, and over 80% of the revenue generated so far this year, have come via one of the two OBS sales.
It wasn’t all roses and chocolate, not by a long shot. With a 12% increase (193) in the number catalogued between the two sales–no doubt the demise of the Keeneland April Sale, which generated $8.7 million last year, contributed to the increase–there was only a 4.5% increase (44) in the number sold, according to figures provided for us by Tom Ventura of OBS. The percentage of withdrawals from the two sales increased from 26% to 29%, and the percentage sold of those sent through the ring declined from 81% to 79%. So, of the 1,810 catalogued between the two sales this year, the clearance rate from the catalogues dropped almost 4%, from 60.0% last year (971 of 1,617), to 56.1% this year (1,015 of 1,810). Nonetheless, the combined gross increased by $15.5-million (16%), and the average for the 1,015 sold between the two sales rose 11%, from $97,418 last year to $108,490. And who’s quibbling? If you control 80% of any market, in revenue terms as well as in number of horses sold, you’re a pretty happy sales company.
Through the end of last weekend’s sales, a total of 28 sires had 2015 2-year-old sale averages of $200,000 or more (click here). Nine of these sires had one or two juveniles sold, including Claiborne’s War Front, who ranks #1 on average, with two sold for an average of $781,295, including the 800,000-guinea sale-topper at Tattersalls’ Craven Sale at Newmarket. So there have been 19 sires that had four or more sell and have averaged over $200,000 at the 2015 2-year-old sales so far, but two of them–Gainesway’s Tapit and Darley’s Bernardini–have had truly blockbuster sales seasons. Tapit has had six 2-year-olds sell, from nine offered, for an average of $675,833, including the year’s most expensive 2-year-old so far, the $1.9-million Tapit filly bought by Alex Solis and Jason Litt at OBS April last week; and a $900,000 colt bought by M.V. Magnier at Fasig-Tipton’s sale in Miami. Bernardini has had 10 sell from 10 offered, for an average of $570,600, including the $1.4-million colt, bought by Live Oak, at OBS March; two other colts that brought $900,000 each; and fillies that sold for $850,000 and $650,000. Between the two of them, the commercial stature of the Seattle Slew sire line–Tapit is by Pulpit, by A.P. Indy; Bernardini by A.P. Indy himself–seems intact for the moment.
Four sires with their first 2-year-olds this year figure among the 19 that had four or more average $200,000 or more, plus Coolmore’s Canford Cliffs (described, upon his own retirement, by Richard Hannon Sr. as the best horse he’d ever trained), who had one sell for 300,000 guineas at Tattersalls. Surprise leader among American first-crop sires is Lane’s End’s Twirling Candy, who’s had 11 juveniles from his first crop average $264,545 so far. From Candy Ride’s second crop, Twirling Candy won the GI Malibu S. at seven furlongs on the dirt, and won nine-furlong Grade II races in California on dirt, turf, and all-weather. He wasn’t an obvious pick to top Uncle Mo, 2014 ‘Market Darling’ Trappe Shot, and the rest of this group of first-crop 2-year-old sires after ranking 13th among North American first-year sires at the yearling sales last year (51 averaged $43,260), but this year’s numbers tell a different story; they obviously look the part.
Coolmore’s Uncle Mo, undefeated and untested as North American champion 2-year-old colt of 2010, ranked second only to Trappe Shot with an eye-popping 96 yearlings averaging $111,958 last year, and at the 2-year-old sales so far they’ve still looked good, with 23 sold from 27 offered (very high 2-year-old clearance rate) averaging $215,435, and of course he is now off the mark as a sire with a winner at Keeneland. Spendthrift’s Tizway is by Tiznow but out of a Dayjur mare, and could be described as a “typier” individual than the usual Tiznow; he ranked fourth among North American first-year sires at the yearling sales last year (43 averaged $83,481), and has continued to find favor among buyers, with 11 2-year-olds so far this year averaging $212,545. But the real shocker at the Florida 2-year-old sales this year is Ocala Stud’s Adios Charlie, like Uncle Mo a son of Indian Charlie, but who was about as far off the radar until a month ago as Uncle Mo is on it. But, as Brian DiDonato told the story in the March 19 TDN (click here), he wasn’t off everybody’s radar: he had been a pretty good New York 3-year-old in 2011, winning the GII Jerome S. and running second in both the GII Peter Pan and GII Dwyer. He was standing this season for just $3,000, but Florida–particularly the O’Farrells, at Ocala Stud–does have a way with stallions, and after having a colt and a filly sell for $600,000 and $675,000 at OBS March, and with an average $210,000 for 10 sold (of 10 offered so far), a lot more people will be paying attention to any Adios Charlie 2-year-olds at OBS in June.
Another A.P. Retires…
On those occasions when I’ve been invited to speak to Irish breeders’ groups, I am invariably told, “now remember, half your audience are National Hunt breeders. They don’t really know or care about Flat racing.” Absolutely true, I found out: if Ireland is the cradle of civilization where the horse business is concerned–and it is–National Hunt breeders must have been the first ones to appear on dry land. So when you say “A.P. is retired,” it never crosses their minds that A.P. Indy isn’t covering mares any more; no, it means that last Saturday, Britain’s 20-time champion jump jockey, Anthony Peter (A.P.) McCoy, hung up his riding boots.
This was huge. On the last day of the 2014-15 British jumps season, Sandown Race Course near London sold out their 18,000 seats, and the adulation displayed for McCoy throughout the day was really impressive. Normally impassive, even the man himself was moved to tears. After something in the neighborhood of 18,000 rides, in which he must have jumped around 200,000 obstacles, the greatest jump jockey of all time finished off with two thirds from two rides, and retired with over 4,300 wins over jumps, a record which will surely live forever.
When I first moved to Scotland 22 years ago I could barely spell “jump racing,” but over the years I’ve come to understand these are unbelievable horsemen, motivated by a lot more than the almighty dollar. It’s obviously hard enough to become a professional athlete in any discipline, but these jump jockeys really are made of sterner stuff. I’ve lived in the UK for every season in which Tony McCoy has been champion, and I’ve watched him ride in thousands of races (yeah, once I became converted, it’s great winter racing), mostly of course on TV but occasionally in person. He doesn’t lack style in the saddle, but he wouldn’t be the most stylish jockey you’ve ever seen; it was his determination and his discipline that really took him to a different planet. He could will them across the line; sometimes he really did almost lift them across. Tony McCoy’s career definitely goes down among the greatest things I’ve seen in 40 years in the horse business. He really is a legend, and–really, really great thing for a jump jockey–he walked off the stage under his own power, at the time he chose. Complete superstar, and let me add my voice to the tens, if not hundreds, of thousands to say “thank you, Champ. You’re a legend.”
Of course, now that A.P. Indy is retired, and A.P. McCoy is retired, it leaves the door open for a new A.P. There are sure a lot of people raving about American Pharoah, so maybe by Saturday night we’ll have a new A.P. to keep those initials right at the top. A timely tip?