Inglis to Test Boutique Sale Model

The concept of a boutique sale in conjunction with a major race meeting is one that has cottoned on rather successfully in the Northern Hemisphere, with auctions such as the Goffs London Sale and the Arqana Arc sale now regular fixtures on the eve of Royal Ascot and the Prix de l'Arc de Triomphe, respectively. With the ever-evolving international nature of the bloodstock industry, then, why not replicate the idea Down Under? That's exactly what the team at Inglis will do with the inaugural staging of the Chairman's Sale at Newmarket in Sydney.

The Chairman's Sale will be split into two sessions. The Elite Racing Prospects session will take place on Mar. 30, two days out from day one of The Championships at Randwick Racecourse right across the street from the sales grounds. The catalogue will be finalised two days before the sale, but Inglis's National Bloodstock Director Jonathan D'Arcy said it will likely consist of a catalogue of “five to 10″ high-quality racehorses to be offered wholly or in part, some of which will have entries at The Championships. Part II, the Elite Breeding Prospects session, has drawn a catalogue of 89 broodmares, weanlings and stallion seasons and shares and is set for Apr. 7, the day between the end of the Easter sale and day two of The Championships.

D'Arcy said the Inglis team did consider the success of sales like the Arc Sale and Goffs London when making the decision to try the concept themselves, and hoped to cater to the big spenders in Sydney over the Easter period.

“We're gathering the best buyers both nationally and internationally in Sydney at that time of year. We've got the biggest yearling sale and we've got The Championships on,” he said. “I was speaking to some of the internationals who were coming into town for the Easter sale and they said, 'we're really interested in investing in broodmares in Australia as well.' So we thought, it's hard for them to come back again, be it in May or in June to our Australian breeding stock sales when they've already come down in April, so why don't we put on a sale that can showcase some of the best bloodstock, be it weanlings or mares, that we've got to offer here in Australia.”

D'Arcy said the Chairman's sale was also born out of the fact that Inglis's agents have been increasingly inundated with inquiries into private purchases.

“What we've found the last two years is we're making a lot of offers to either buy horses or buy into horses, and we thought, 'why don't we put that into an auction format and let them fight it out in the auction ring, which has stood the test of time?' The auction ring is the strongest place to realize a horse's full potential sale price. We've been watching what's been happening around the world, and I think the opportunity and the timing is just perfect to do it here. If it's something that works here in Sydney we might look to replicate it in Melbourne at the start of the spring carnival as well. A lot of people we've spoken to are really interested in it, and we're hoping to have a catalogue of around five to 10 lots to offer at this first sale, then grow it from there.”

Having trimmed down its Easter catalogue by 100 lots, Inglis has the necessary space to house the additional horses for the Chairman's sale. The Elite Racing Prospect offerings are likely to be auctioned in absentia if they hold a Championships entry, but “one or two lots” could be present on the Thursday evening, according to D'Arcy. The Elite Breeding Prospects lots will ship in Monday and Tuesday of the following week while the Easter sale is in full swing, and for added measure the horses catalogued for the Australian Broodmare and Weanling Sale Apr. 10 to 13 will ship in Friday the 7th, making for a busy week of horses moving in and out of Newmarket.

“It's the best opportunity to get to Sydney and see some outstanding horses on the track, and buy your next champion in the ring,” D'Arcy reasoned.

While the Elite Racing Prospects catalogue remains open, horses already committed include stakes-placed 2-year-old Eden Roc (Aus) (Star Witness {Aus}), a close relation to group-winning and Group 1-placed sprinter Star Turn (Aus) (Star Witness {Aus}) (lot 7); a 30% share of G1 Doncaster Mile entrant Land Of Plenty (Aus) (Stratum {Aus}) (lot 1); a quarter share in G2 Hobartville S. winner Man From Uncle (Aus) (Uncle Mo) (lot 8) and G1 Australian Oaks hopeful Moqueen (Aus) (Uncle Mo) (lot 6); and G2 Todman S.-winning gelding Gunnison (Aus) (Not A Single Doubt {Aus}) (lot 10).

“We've been getting out and explaining what the concept is,” D'Arcy noted. “It's very different from the normal path, which is putting a horse in the sale and selling it 100%. Eden Roc is being sold 100% and he's a horse that suits not only here in Australia with his stud potential, but he also ticks a lot of boxes for Hong Kong. Then you've got horses like Land Of Plenty and Man From Uncle who are 3-year-olds aimed at races over The Championships. Their potential on the racetrack in Australia or internationally is very strong as well. Both those horses have about 25% or 30% on offer, so it's an opportunity for someone who wants to race straight away.”

“Everyone in the industry knows you have to have a lot of patience to buy a yearling, have it broken in and jump through all the hoops to get to the races,” he added. “Here's the opportunity for an investor to go racing two days after buying into a horse. We think there's an appetite for that type of investment and obviously our vendors are sharing that view and are prepared to put part of their horses on the market. They'll still stay in the horses and enjoy the racing, but instead of owning 40% of a horse they'll own 20% of a horse. I think we all know the thrill is the same no matter how much you own.”

The Elite Breeding Prospects session includes G1 Queensland Oaks winner Provocative (NZ) (Zabeel {NZ}), in foal to Tavistock (lot 74); the well-related Group 2-winning maiden mare Don't Doubt Mamma (Aus) (Not A Single Doubt {Aus}) (lot 49); Group 2 winner Heatherly (Aus) (Lonhro {Aus}) (lot 4) and dual Group 2 winner Press Report (Aus) (Written Tycoon {Aus}) (lot 7), both currently in training; and Group 3 winner Yattarna (Aus) (Exceed and Excel {Aus}) (lot 9), also currently in training. Last year's G2 Reisling S. winner French Fern (Aus) (Lope De Vega {Ire}) has been added as a wildcard.

Other highlights include lot 11, a colt foal from the first crop of Wandjina (Aus) and a half-brother to G2 Roman Consul S. winner Russian Revolution (Aus) (Snitzel {Aus}); lot 29, a Fastnet Rock (Aus) filly foal out of Group 3 winner Sweet Sanette (SAf) (Jallad); lot 34, a Snitzel filly foal out of Your Life Style (Aus) (Hussonet), a daughter of Monsoon Wedding (Danehill) and therefore from the great Shantha's Choice (Aus) (Canny Lad {Aus}) line. Your Life Style will be offered herself as the last lot in the sale (lot 89) in foal to I Am Invincible (Aus). Acts Of Grace (Bahri) (lot 40), a half-sister to Invincible Spirit (Ire), is catalogued in foal to Pride Of Dubai (Aus); Close To My Heart (Ire) (Fastnet Rock {Aus}), (lot 48) a granddaughter of Coup de Folie, is offered in foal to Frankel (GB); Flame Of Sydney (Aus) (Encosta de Lago {Aus}) (lot 51), the dam of multiple group winner Not Listenin'tome (Aus) (Dylan Thomas {Ire}) is catalogued in foal to Medaglia d'Oro; Opalize (Aus) (Anabaa) (lot 70), the dam of this term's G3 Blue Diamond Prelude winner Property (Aus) (Starcraft {NZ}) goes under the hammer with a Sizzling (Aus) cover; the unraced Paper Round (GB) (Street Cry {Ire}) (lot 72) sells with a Southern Hemisphere cover to European Horse of the Year Golden Horn (GB); She's A Vamp (Aus) (High Chaparral {Ire}) (lot 80) is a half-sister to G3 Magic Night S. winner Tulip (Aus) (Pierro {Aus}) in foal to Lonhro (Aus); and Street Secret (Street Cry {Ire}) (lot 84), from the family of the great producer Urban Sea, carries her third foal by Snitzel (Aus).

Also set to be auctioned are a share in Hinchinbrook (Aus), two shares in Sebring (Aus) and two lifetime breeding rights to I Am Invincible (Aus).

“We were blown away by the support from the studs and some of the leading breeders,” D'Arcy said. “I think that now that the catalogue has been put to bed we're very happy with the quality of horses we have to sell.”

Ahead of what is set to be a blockbuster week in Sydney, D'Arcy concluded, “It seems to be a great time to be involved in racing here in Australia. The confidence in the yearling market is there for all to see, and we've got some exciting horses going to stud. At the weanling sales this year you'll see the first progeny of some very exciting young stallions. I think with the way prizemoney is in Australia at the present time, it's a good time for people to get involved here, particularly from around the world. The world's becoming a smaller place; once you get on the plane and have a glass of wine you're here in no time at all, and I think our racing product is as good as anywhere in the world. We've got a lot of young people at the races and it's a great experience.”