Expectations blown away at yearling sale

Large splodges of wonga were thrown around with merry abandon on the first day of the National Year Sale in Germiston on Thursday.

A phenomenal 21 horses were sold for more than R1-million, with three of them fetching R5-million and the top price hitting R6-million. At last year’s entire NYS only 27 lots went above the landmark “bar”.

“It was a day that surpassed all expectations and was a tangible barometer of the positivity that is sweeping South African horseracing,” declared Michael Holmes, CEO of sales company Bloodstock SA.

Aggregate of R113,335,000

The depth of the market was breathtaking, with an average price of R573,528 and a median price of R400,000. This surpasses the returns any horse sale yet held in South Africa and compares to the same sale’s Day 1 stats of R442,672 and R300,000, which were considered remarkable.

The aggregate for the day was R113,335,000, from 198 lots.

Visiting Australian auctioneer Steve Davis mentioned several times during his enthralling “chant” that the 2024 catalogue was the strongest he’d seen in his many years of heading up this sales team.

So, what sparked this positivity in a country with a moribund economy, idiotic politicians and a jittery looming election?

Direct equine international exports

Much of it has been driven by waves of good news within the rather arcane world of racing itself.

In the chaos of pandemic lockdown, racing nearly died. But it was saved and recovered into better nick than before: the heroic rejuvenation stories involving Cape Racing, Greg Bortz, Hollywoodbets, Gold Circle and Mary Oppenheimer Daughters are well known.

Just this week, operator 4Racing announced a raft of new measures to support owners and trainers, including an 8% stakes hike at its three racecourses, and an upgrading of the venues.

But the mainline shot of euphoria into a vein of the thoroughbred industry was surely last month’s announcement that direct equine international exports will again be allowed, with the EU finally overturning its lengthy suspension of South Africa from travel protocols.

South African bloodstock has proven its excellence on the racetracks all over the world, but incipient lucrative exports were killed off by foreign fears of African horse sickness.

The export announcement probably came too soon for this week’s sale to draw a flood of foreign buyers, but there were some present in the Gosforth Park sales arena and the R6-millon top lot was bought by the Hong Kong Jockey Club.

The influential HKJC bought three youngsters for a total of R8,250,000.

This most expensive lot, a colt named Man Of His Word, is by champion sire Gimmethegreenlight out of Honorine, a daughter of Australian legend Redoute’s Choice. He was consigned by Wilgerbosdrift Stud.

The top-priced filly, Cherry Bakewell, was bought by leading local agent Form Bloodstock for R3.6-million.

Bred by Mauritzfontein, she is a three-parts sister to former Horse Of The Year and Triple Tiara champion Summer Pudding.

Biggest spender on the day was the Hollywood Syndicate, whose yellow with purple stars silks are ubiquitous. It bought 11 yearlings for a total of R11,235,000 for the many trainers it supports around the country.

The start of bidding on Day 2 of the sale promised more excitement and records with a handful of R1-million-plus purchases in the first hours.