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URL: https://forum.thoroughbredvillage.com.au/forum_posts.asp?TID=65162 Printed Date: 20 Mar 2024 at 12:12am Software Version: Web Wiz Forums 12.05 - http://www.webwizforums.com
Topic: Inglis Easter Yearling Sale 2020Posted By: Second Chance
Subject: Inglis Easter Yearling Sale 2020
Date Posted: 14 Feb 2020 at 7:33pm
Just received my hard copy.
Any early comments at this stage?
Replies: Posted By: Majestic
Date Posted: 14 Feb 2020 at 8:52pm
horses bought from $200k to $500k will outperform the $500k+ yearlings on the track.
Posted By: Isaac soloman
Date Posted: 26 Feb 2020 at 10:33am
How much of an influence will the coronavirus have?
Big, i would say...
This will be the year for bargain prices.
Posted By: Red Hare
Date Posted: 27 Feb 2020 at 2:21pm
How so?
I would reckon local agents do most of the leg work for Asian buyers and, at the end of the day, they can still race the horse here.
I guess it would depend on the source of their income and how long they think it will take to arrange a clean supply chain for whatever goods they're trying to import.
Handy excuse for the auction house in any case.
Posted By: djebel
Date Posted: 27 Feb 2020 at 3:50pm
Bred to be another Dalasan, Fifty Stars, Kermadec, Tavistock and so on.
------------- reductio ad absurdum
Posted By: Isaac soloman
Date Posted: 15 Mar 2020 at 9:48pm
Online auction anyone?
Posted By: Glencoe
Date Posted: 15 Mar 2020 at 11:30pm
Invitation only !!!!!
Posted By: furious
Date Posted: 16 Mar 2020 at 7:46am
Why didn't I go to the classic. No soft nose pats for me.
Posted By: VSP.
Date Posted: 16 Mar 2020 at 10:03am
Glencoe wrote:
Invitation only !!!!!
Even this way I cant see how they can stay under the 500 people limit - all those horses have handlers, plus the ground staff, catering, office staff, float drivers, Inglis staff & invited people. I'm doubting the Sale will proceed.
------------- www.snowshoecats.webs.com
Posted By: Gay3
Date Posted: 16 Mar 2020 at 1:09pm
Wishful thinking?
The Inglis bloodstock company has argued its Sydney Easter https://www.racenet.com.au/tracks/vic/sale" rel="nofollow - Sale is an essential activity and should go ahead as scheduled next month.
It is unknown which format the sale will proceed in in the wake of
Federal and State Governments imposing a ban on non-essential gatherings
of more than 500 people to slow the spread of coronavirus.
Essential business operations are exempt from the ban. Inglis Chief
Executive Mark Webster said the sale’s place in Australia’s massive
racing and breeding industry made it an essential event.
“We believe the Australian Easter sale is essential. It is a trading
event, it is not a public gathering,” Webster said in a statement.
“We need to better understand what they mean by that, but we don't consider ourselves to be non-essential.
"Overall, as an industry, we need to make a case that this is an
essential event, not a discretionary one that you can just hold in six
months' time or not at all.
“If the government has used those words in the first place around
nonessential events, they must have deemed which ones would be essential
otherwise they wouldn't have used those terms in their definitions.”
Webster said Inglis would make the most of technology to mitigate the
effects of the government measures, which also include a 14-day
self-isolation period for all arrivals into Australia.
However, Webster said the fact the large portion of the sale’s
operations were conducted outdoors as well as the significant time
restraints in preparing yearlings for sale made it vital for the Inglis
Easter Sale to be held in its scheduled timeslot.
“The horses will be getting older by the minute and they need to be sold and be prepared for two-year-old racing,” Webster said.
“There's certainly time pressures there and we think there's a whole lot of reasons why our event is actually essential.
“We can control it through an invitation-only basis by knowing who
the vendors are, who the buyers are, who the media are in attendance.
“It forms an essential part of our economy in the bush in terms of
the producers and obviously a critical part of our racing in terms of
the supply chain.”
Magic Millions will conduct its March Yearling Sale on the https://www.racenet.com.au/tracks/qld/gold-coast" rel="nofollow - Gold Coast on Monday.
The sale is closed to the public with the company requiring all
potential buyers to pre-register before arriving at the Bundall complex
------------- Wisdom has been chasing me but I've always outrun it!
Posted By: Glencoe
Date Posted: 16 Mar 2020 at 2:18pm
What a load of codswallop. I thought V'landys cry was bad enough
That p.r. release by Webster seems almost to have been written by the big breeders cartel.
It is simply a case of collective financial backside covering & a fear of exposure of their degree of financial leverage
Would they care if it was the Vobis Gold Sale. NOT BLOODY LIKELY' In fact Webster does not even mention that sale
This is all about trying to save the big end of town, as for some, their business balls are already in an ever tightening vice
Posted By: Glencoe
Date Posted: 16 Mar 2020 at 2:22pm
From info received from a well placed family member, the governments concept/definition of essential is that that would be deemed essential in wartime
Now if it was 1915 & the yearlings were walers.............
Posted By: Flight
Date Posted: 16 Mar 2020 at 11:10pm
OMG! Essential?
I can guarantee that these are also the people who are hoarding the toilet paper. It is the same type of mentality ie me me me me me me....
They have not given any thought as to what the country should be doing in order to slow down the spread of the virus.
“The horses will be getting older by the minute and they need to be sold and be prepared for two-year-old racing,” Webster said.
I think the rest of the country will simply go "boo hoo".
Someone mentioned V'landys earlier. I cannot believe he is asking for a government handout! Yet, I can. It is all he knows how to do.
------------- “The probability of a certain set of circumstances coming together in a meaningful (or tragic) way is so low that it simply cannot be considered mere coincidence. ” ― V.C. King
Posted By: Glencoe
Date Posted: 17 Mar 2020 at 12:57pm
V'Landys got a $200 million handout for the industry for EI. Rumour has that most of this money went to the Hunter. After all they do run the show
Posted By: Gay3
Date Posted: 17 Mar 2020 at 1:19pm
Inglis apparently short term invest money received from buyers, prior to passing on to vendors & if true, they'll have taken a big hit!
------------- Wisdom has been chasing me but I've always outrun it!
Posted By: Red Hare
Date Posted: 18 Mar 2020 at 1:21pm
That on-site hotel might just be their ace in the hole. If they scale up the phone & internet facilities, there's space enough for 300-400 individual bidders.
Posted By: furious
Date Posted: 18 Mar 2020 at 1:27pm
THey will have to get more internet width or what ever you need. It crashes or you can't connect 1/2 the time every year and more people will be trying to watch that way this year.
Posted By: Red Hare
Date Posted: 18 Mar 2020 at 3:14pm
I'd reckon the LAN would be vastly superior, so their priority would be to get the buyers and agents on-site, and work the phones. The live video feed of them walking in circles is redundant.
In any case, since i'm a fair chance to have full pockets after a deal to HK, I will be on the lookout for a slice of one of these:
11 - Written Tycoon x Lady Lakshmi
28 - Written Tycoon x Lifesaver Lady
97 - Dundeel x My Girl
158 - All Too Hard x Renascent
200 - Dundeel x Silla Regalis
470 - Written Tycoon x Gold Anthem
All colts except the last one... fair chance i'm left with full pockets if Inglis manages to pull off a miracle with the buying bench.
Posted By: VSP.
Date Posted: 23 Mar 2020 at 11:34am
Can't see any way this can proceed as a regular sale. I guess they are working frantically in the background on alternate selling methods. I feel for the vendors.
------------- www.snowshoecats.webs.com
Posted By: furious
Date Posted: 23 Mar 2020 at 1:50pm
It certainly looks like the vendors with forward stock for the Magic Millions sale won the lottery. What do they do? Inspections would have to be a vast issue with the new regualations. It's alright for racing to go ahead with no public or owners. But no ones going to buy a $1,000,000 lot on speck.
Posted By: kavg
Date Posted: 23 Mar 2020 at 1:57pm
The professional buyers may have already inspected their top lots at the farms Furious and I'm sure there is a lot of frantic travel between farms over the next few days. Only way I can see we going ahead and prices staying steady.
Or the usual under the table deals between sellers,buyers,trainers to prop up studs stallions etc are only a phone call away🤨
------------- Prejudice is an emotional attachment to ignorance. DiEM25 for the world.
Posted By: Red Hare
Date Posted: 23 Mar 2020 at 8:12pm
What's the difference between selling in the first week of April and the last week of June?
Historical comparisons are moot, because the quality of animal that is entered into the Easter sale has not been on the table that late before.
Posted By: Red Hare
Date Posted: 25 Mar 2020 at 12:52am
Looks like it’s a switch to online or postponed after the ‘stage 2’ measures.
Posted By: Glencoe
Date Posted: 25 Mar 2020 at 8:57am
Stage 3 when it comes will be a complete lockdown. The breeders cartel in NSW should be gelatiting themselves if this is announced on Friday which would be a high probability
Posted By: VSP.
Date Posted: 25 Mar 2020 at 11:38am
Red Hare wrote:
What's the difference between selling in the first week of April and the last week of June?
Historical comparisons are moot, because the quality of animal that is entered into the Easter sale has not been on the table that late before.
No guarantees that end June will be OK either at this stage.
Yearling prep is labour intensive, and much like a racer in training the babies need a break at some point.
They also need to be broken in and got going soon too, if you want to access the 2yo racing.
Most Easter yearlings would have been through the breakers by end June usually.
Bit of a mess really - about $80 million dollars of horseflesh currently homeless. Vendors must be very concerned.
------------- www.snowshoecats.webs.com
Posted By: VSP.
Date Posted: 25 Mar 2020 at 11:42am
News
Update on Easter Yearling Sale
25th Mar 2020
In light of Prime Minister Scott Morrison’s most recent announcements and further restrictions made last night regarding the COVID-19 situation, Inglis is currently re-evaluating the timing and format of its sales schedule for the remainder of 2020.
The Easter Yearling Sale will not proceed as a live auction but will instead proceed in an online format, the details of which will be confirmed today.
Inglis will issue a further update by close of business today, Wednesday March 25, which will include confirmation on how each scheduled sale of 2020 will operate.
The bloodstock team has understandably been fielding a huge volume of enquiries so we appreciate everybody’s patience and understanding at this time.
------------- www.snowshoecats.webs.com
Posted By: Glencoe
Date Posted: 25 Mar 2020 at 1:34pm
That is a very scary thought VSP. Many of the top end sales involve subterfuge of some sort. Only a very few will benefit from an online sale & it is not hard to predict who that will be
Posted By: kavg
Date Posted: 25 Mar 2020 at 1:59pm
Glencoe, although many of us are aware of the continual shenanigans, many like myself forget the previous transgressors after a year. Please give us a list of the usual suspects.
------------- Prejudice is an emotional attachment to ignorance. DiEM25 for the world.
Posted By: Glencoe
Date Posted: 25 Mar 2020 at 2:07pm
It takes a few years to check some of the deals which are often about stallion fee justification, or mare promotion. The yearling is just the vehicle.
Check a mares stud book returns (& preceding sales), yearling sales purchase, & then correlate with listed owners when said yearling is registered for racing. A couple of big studs are serial offenders
Do the research. you will work it out
Posted By: Spearmint
Date Posted: 25 Mar 2020 at 2:19pm
How in the hell are we going to inspect these yearlings?
Who would want to buy one if you cannot inspect them and apply your judgement and inspection criteria before assessing what you think they are worth?
Photos only give you a 2 dimensional view of their colour and general shape.
Photos can give the wrong impression. I have marked yearlings to inspect on photos and most of them do not look like what you think you saw in the photo and vice versa.
There is nothing like inspecting them in the flesh, things like their presence or demeanour, How they handle the sales day pressure, the intangibles like intelligence or not and do they have that " look " in the eye.
Good luck to those who are prepared to buy these yearlings sight unseen
------------- "Nothing in the world is so powerful as an idea whose time has come"
Posted By: kavg
Date Posted: 25 Mar 2020 at 4:08pm
Spearmint,as Glencoe and myself have mentioned there will be plenty of deals that have already been made and those sales will go ahead. I assume some of the big serious buyers and trainers may have done farm inspections in the past few weeks and they may go ahead.
But you would have to think that many will simply bypass the situation unless due to the circumstances prices are so low that buyers may take the risk.
------------- Prejudice is an emotional attachment to ignorance. DiEM25 for the world.
Posted By: Red Hare
Date Posted: 25 Mar 2020 at 11:44pm
Spearmint wrote:
do they have that " look " in the eye.
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.
Posted By: Gay3
Date Posted: 26 Mar 2020 at 9:09pm
The Inglis 2020 Sydney Easter Yearling https://www.racenet.com.au/tracks/vic/sale" rel="nofollow - Sale
has been dealt a massive blow after one of Australia’s leading studs
pulled out due to auction changes caused by the coronavirus pandemic.
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 https://www.racenet.com.au/tracks/nsw/warwick-farm" rel="nofollow - 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.
------------- Wisdom has been chasing me but I've always outrun it!
Posted By: Red Hare
Date Posted: 26 Mar 2020 at 9:19pm
So, business as usual then?
Posted By: Red Hare
Date Posted: 30 Mar 2020 at 9:38pm
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 fee
31 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.
Posted By: Red Hare
Date Posted: 30 Mar 2020 at 9:39pm
** the figures from 'other drafts' refer to withdrawals.
Posted By: Red Hare
Date Posted: 07 Apr 2020 at 1:56pm
Pretty high pass in rate so far.
I suppose that’s to be expected... same old tactics, with the advantage of a closed door.
Posted By: Red Hare
Date Posted: 08 Apr 2020 at 7:04pm
Coolmore paid $1.8m for the Snitzel x First Seal colt.
Vet report says he's 16.0 hands.
Posted By: Second Chance
Date Posted: 08 Apr 2020 at 7:14pm
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.
Posted By: robbo
Date Posted: 08 Apr 2020 at 7:20pm
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.
Posted By: Second Chance
Date Posted: 08 Apr 2020 at 7:27pm
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.
Posted By: Red Hare
Date Posted: 08 Apr 2020 at 8:28pm
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?
Posted By: Second Chance
Date Posted: 08 Apr 2020 at 9:09pm
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.
Posted By: Glencoe
Date Posted: 09 Apr 2020 at 12:00am
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
Posted By: Glencoe
Date Posted: 09 Apr 2020 at 12:03am
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
Posted By: kavg
Date Posted: 09 Apr 2020 at 3:36pm
I agree Glencoe re cruel sale but can you give your reasons for why you believe next year will be worse?
------------- Prejudice is an emotional attachment to ignorance. DiEM25 for the world.
Posted By: Red Hare
Date Posted: 09 Apr 2020 at 4:57pm
Second Chance wrote:
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.
Agree, that could be (and is) said for the top end. Inglis have made a rod for their own backs with the digital platform. The gap between real and what goes on at the major sales is well exposed.
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.
Posted By: Glencoe
Date Posted: 11 Apr 2020 at 12:58am
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
Posted By: acacia alba
Date Posted: 11 Apr 2020 at 1:05am
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.
------------- animals before people.
Posted By: Glencoe
Date Posted: 11 Apr 2020 at 1:06am
Kavg also read my post along similar lines posted under Weanling sales 2020
Posted By: kavg
Date Posted: 11 Apr 2020 at 1:26pm
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'.
------------- Prejudice is an emotional attachment to ignorance. DiEM25 for the world.
Posted By: Breeder
Date Posted: 11 Apr 2020 at 8:15pm
Has anyone heard how Arrowfield are going with their private sales?
Posted By: Majestic
Date Posted: 11 Apr 2020 at 8:22pm
Messara won’t tell or if, he does, who would really believe him?
Posted By: Second Chance
Date Posted: 11 Apr 2020 at 8:39pm
They'll arguably be pushing it uphill to achieve what they otherwise would have done at the auction.
Posted By: Gay3
Date Posted: 11 Apr 2020 at 9:41pm
acacia alba wrote:
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.
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.
------------- Wisdom has been chasing me but I've always outrun it!
Posted By: Majestic
Date Posted: 11 Apr 2020 at 10:25pm
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
Posted By: Glencoe
Date Posted: 11 Apr 2020 at 11:52pm
Majestic & Gay what are the U.K. forums?
Posted By: Majestic
Date Posted: 12 Apr 2020 at 12:05am
irishbloodstock.com check it out Glencoe.
Posted By: Red Hare
Date Posted: 12 Apr 2020 at 2:36am
Yulong, Woodside, Gilgai, Element Hill, A List Stud, Ampulla Lodge... plus a handful of kiwis.
Posted By: Glencoe
Date Posted: 12 Apr 2020 at 1:15pm
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
Posted By: Gay3
Date Posted: 12 Apr 2020 at 2:23pm
Glencoe wrote:
Majestic & Gay what are the U.K. forums?
Forums I was referring to are Cyberhorse, Horseyard, Racing worldwide, Race Cafe, Racing Fans, Phoenixhorse etc.
------------- Wisdom has been chasing me but I've always outrun it!