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Inglis Easter Yearling Sale 2020 |
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Gay3
Moderator Group Joined: 19 Feb 2007 Location: Miners Rest Status: Offline Points: 52023 |
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Posted: 12 Apr 2020 at 12:23pm |
Forums I was referring to are Cyberhorse, Horseyard, Racing worldwide, Race Cafe, Racing Fans, Phoenixhorse etc.
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Wisdom has been chasing me but I've always outrun it!
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Glencoe
Champion Joined: 19 Jun 2011 Location: Mt. Gambier S.A Status: Offline Points: 1942 |
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It was the isolation rules that caused the out of staters to withdraw. To get their yearlings inspected by the major parties yearlings & staff needed to be in NSW more than a fortnight before the sale. Mill Park from S.A. did this with 4 yearlings & got a reasonable result.
Compare this with those studs who kept their yearlings in Vic. & thus sold very few. In fact they got smashed
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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Yulong, Woodside, Gilgai, Element Hill, A List Stud, Ampulla Lodge... plus a handful of kiwis.
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Majestic
Champion Joined: 23 Mar 2013 Location: NSW Status: Offline Points: 1304 |
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irishbloodstock.com check it out Glencoe.
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Glencoe
Champion Joined: 19 Jun 2011 Location: Mt. Gambier S.A Status: Offline Points: 1942 |
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Majestic & Gay what are the U.K. forums?
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Majestic
Champion Joined: 23 Mar 2013 Location: NSW Status: Offline Points: 1304 |
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Gay3, you’ve been reading UK forums. What is for sale, either colt or filly, will be properly conformed and will be spruced to prospective buyers with Messara keeping $% and giving them to son to train, even though he is now bloodstock manager at Arrowfield. Anything not structured properly will be “culled”. Should have held solid with Inglis and take what the industry gives. Will possibly be stained by decision to go alone. At least I hope, but the industry will always welcome back into the fold anyone willing to do what buck the system. Coolmore and Widden stuck. How will Messara feel next year when all is open and all come together? Inglis will be ok with it and other vendors will feel suckered. JMOO
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Gay3
Moderator Group Joined: 19 Feb 2007 Location: Miners Rest Status: Offline Points: 52023 |
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No Easter yearlings will go anywhere near an abattoir untill they've at least been proven to be too slow! As said above, fillies will go to top trainers on a 0% lease in order to get some race form. Many colts too I imagine & others sold for 1/2 their stud fee let alone production cost, so as so recoup something to pay the bills with. |
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Wisdom has been chasing me but I've always outrun it!
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45820 |
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They'll arguably be pushing it uphill to achieve what they otherwise would have done at the auction.
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Majestic
Champion Joined: 23 Mar 2013 Location: NSW Status: Offline Points: 1304 |
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Messara won’t tell or if, he does, who would really believe him?
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Breeder
Champion Joined: 20 Feb 2007 Location: New Zealand Status: Offline Points: 802 |
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Has anyone heard how Arrowfield are going with their private sales?
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kavg
Champion Joined: 08 Jun 2009 Status: Offline Points: 3993 |
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Thanks for that Glencoe. Wanted to get your experienced view on this all.
I agree for what it is worth regarding no snap-back and it is hard to disagree with anything that you have written. I was surprised that the sale held up as well as it did, albeit with a high pass-in rate. But it looks like many deals were probably done to try and keep things moving along, 'business as usual'. |
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Prejudice is an emotional attachment to ignorance.
DiEM25 for the world. |
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Glencoe
Champion Joined: 19 Jun 2011 Location: Mt. Gambier S.A Status: Offline Points: 1942 |
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Kavg also read my post along similar lines posted under Weanling sales 2020
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acacia alba
Champion Joined: 30 Oct 2010 Location: Hunter Valley Status: Offline Points: 41547 |
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And whats going to happen with all the non sellers/cast offs ? Will be seeing a lot more good horses at the doggers me thinks.
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animals before people.
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Glencoe
Champion Joined: 19 Jun 2011 Location: Mt. Gambier S.A Status: Offline Points: 1942 |
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Kavg my comment is based on experience of selling since 1979
I'm no economist but I think the future economic pain has a while to run. The down turn in yearling prices after the last two crashes took 12 months & more to work through the system. In the early 90's Yearling Prices were especially depressed And in fact many a well bred filly was offered at that time to leading trainers on 0% leases just so they could get to the racetrack & perhaps salvage some of the investment. I bit the bullet and met the market selling a future listed winner for $5K : a Gr 2 wnr for $2.5K as a weanling : and the future dam of a group 1 wnr for $4K. I only ever kept 4-5 mares at a time & kept on breeding. I always bred a good type of horse & so with the improved pedigrees from those horses "I gave away" we made good money in the 1994 through to 1997 sales. 2021 and 2022 yearlings will have been bred on pre-crash service fees. Returns will be hard to recoup I hate to say it but I don't think there will be a snap-back in the economy. People will be very cautious with discretionary spending. Goodbye to many syndicators except for those in the top of the market cabal. After the past crashes there has always been a contraction in breeding numbers. If this happens again then the bulk of commercial stallion and mares becomes even more concentrated towards the top end studs. In the early 80's there were 3,500 stallions and approx. 40,000 broodmares As a small breeder I know I could not start in the game now as I did in 1979 with no economic risk. A large capital investment is required now to get started now
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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I don't think the vendors owe anything to the auction house. The best part of 40% of lots passed in. If you can't be there to finalise the deal in person, why bother? If the actual returns have been eroded by partnerships on top of handshakes within shells, just trying to keep pace with the Jones', what's to stop any farm from modernising their marketing function and moving to private sales? This notion of solidarity and in turn some sort of betrayal from Arrowfield is the type of group-think that corrals the industry into submission. If not for 2020 being so very 2020, the irony of Arrowfield being the one to take the antithetical approach would come as a surprise, but it is 2020 after all. |
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kavg
Champion Joined: 08 Jun 2009 Status: Offline Points: 3993 |
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I agree Glencoe re cruel sale but can you give your reasons for why you believe next year will be worse?
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Prejudice is an emotional attachment to ignorance.
DiEM25 for the world. |
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Glencoe
Champion Joined: 19 Jun 2011 Location: Mt. Gambier S.A Status: Offline Points: 1942 |
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There will be much trumpeting re the median holding up but in effect for many vendors who had paid service fees this was a cruel sale AND IT MOST LIKELY WILL BE WORSE IN 2021
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Glencoe
Champion Joined: 19 Jun 2011 Location: Mt. Gambier S.A Status: Offline Points: 1942 |
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I would love to be able to see Messara's original statement on why he was unhappy with the online format. My recollection is that there was an inference about the auction process, which was hastily withdrawn, and replaced the following day with an official and sycophantic praise for Inglis
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45820 |
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Well RH you could well ask that question about any high end sale, irrespective.
Though I suspect there's far more fair dinkum sales this year. Particularly with Messara's absence.
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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I don't mind clipping the odd tall poppy, but there's a decent case to be made that the auction was just for show.
How much cash has changed hands?
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45820 |
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Great question Robbo.
And reckon Messara would be seriously ruing a very ordinary call on his behalf, in both the immediate and longer term perspectives.
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robbo
Champion Joined: 27 Feb 2007 Location: Australia Status: Offline Points: 1573 |
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I wonder if Arrowfield are regretting abandoning the sale. There's lots of rhetoric about the industry banding together in the face of adversity, something that the former Chairman of Racing Australia clearly didn't do.
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Second Chance
Champion Joined: 02 Dec 2007 Status: Offline Points: 45820 |
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He's certainly a big boy: the video of him shows that more than the still shot.
Let's actually hope he matures into his body but doesn't actually grow too much more.
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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Coolmore paid $1.8m for the Snitzel x First Seal colt.
Vet report says he's 16.0 hands.
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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Pretty high pass in rate so far.
I suppose that’s to be expected... same old tactics, with the advantage of a closed door. |
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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** the figures from 'other drafts' refer to withdrawals.
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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With the Arrowfield withdrawals, there are currently:
6 Dundeel, down from 15 (0 from other drafts) - $27.5k fee 3 Shalaa, down from 13 (1 from other drafts) - $33k fee 17 NASD, down from 25 (2 from other drafts) - $88k fee 5 Redoute's Choice, down from 10 (1 from other drafts) - $137.5k fee31 Snitzel, down from 67 (9 from other drafts) - $176k fee Remaining vendors of the last three in particular must be a tad concerned. Deals aside, that's a $100-200k line on the books, and I don't think you send a mare to Snitzel hoping to break even.
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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So, business as usual then?
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Gay3
Moderator Group Joined: 19 Feb 2007 Location: Miners Rest Status: Offline Points: 52023 |
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Arrowfield Stud confirmed they will no longer take part in the sale and will instead sell their horses privately after the sale was forced to move online this week. Inglis were forced to move the Easter Sale online on Tuesday following an announcement by Prime Minister Scott Morrison of a tightening of rules surrounding businesses and gatherings to combat the spread of COVID-19. It meant the Easter Sale, which was set to be held on Sunday April 5 and Monday April 6 at Inglis’ complex at Warwick Farm, would be unable to go ahead in its normal format, forcing Inglis to head to an online bidding platform. Arrowfield Stud boss John Messara stressed the breeding powerhouse’s decision to withdraw their yearlings was through no fault of Inglis but said it was a call they had to make. “It was a risk that we weren’t prepared to take,” Messara told Racenet. “We regret having to do it but the switch to online was not what we bargained for originally. “Inglis have done a great job and like everyone they are caught in a tough situation. “We can’t be at our farm on an online sale that might or might not work, so we have decided to sell our yearlings ourselves." Messara said Arrowfield expected the current draft to fetch between $20 and $25 million at the sales and expects the stud will still have interest from current clients despite selling independently. There was also some talk that Widden Stud would be taking a similar step but owner Antony Thompson said that was “100% not correct" when contacted by Racenet. * Racenet has contacted Inglis for comment and will update the story when we receive a response. |
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Wisdom has been chasing me but I've always outrun it!
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Red Hare
Champion Joined: 11 Jan 2015 Location: Victoria Status: Offline Points: 4233 |
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The good face?... baseball spawned an entire movement to prove the antithesis of such thinking. Take the work promoted by brogers, and others, with regard to video analysis of stride length. I’ll be very interested to see whether the ‘Moneyball’ types are putting their hands in their pockets - especially now that the sellers are having to up their digital game. I think there’s a very profitable gap to be filled here. |
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