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Buyers of store horses bumped into a storm of high prices at last week’s Tattersalls Ireland Derby Sale.
John Dwan, a recognised trader of young horses, summed up events when saying: “It is a real good time to be a vendor.” He was speaking on the second of two days of trading which yielded record overall turnover of nearly €21m, up 19 per cent, and a new high of €63,879 for the average price, which was a rise of 20 per cent.
John Dwan, who said: “It is a real good time to be a vendor” (Tattersalls Ireland)
A top price of €400,000 was a new watermark for a store horse and trade was also strong at the one-day Part II of the Derby Sale, at which turnover rose 41 per cent and the average price gained seven per cent at €18,889. The top lot’s valuation of €80,000 was a record for that auction.
While the Derby Sale attracts the upper-end of store horses and therefore traditionally high prices some British point-to-point buyers were present and managed to invest. Kent-based agent and trainer David Phelan said: “It was very expensive – probably the hardest sale I was ever at to buy a horse. When you think of everything that’s going on in the world.”
Phelan’s purchases included a three-year-old filly from the first crop of Irish stallion Mirage Dancer for €20,000 who he will train to run in British point-to-points. Asked about the strength of the market he said: “Horses are getting scarce, and with some point-to-pointers making a lot of money people are looking at stores. I’ve never seen so many make over €100,000. Racing gets its share of bad publicity, but people like Dan Skelton and Ben Pauling have driven National Hunt racing forward. Good horses are now coming back in Britain.”
Kent point-to-point trainer and bloodstock agent David Phelan on the look-out for a horse (Tattersalls Ireland)
Herefordshire bloodstock agent Ed Bailey, who buys stores for point-to-pointing and racing under rules, opted to find value by securing a couple of two-year-olds. They take a year longer to reach the track, but are priced accordingly. Bailey, who invested €100,000 in a Crystal Ocean gelding and €90,000 in a son of Walk In The Park, said the pair might be reoffered as three-year-olds or be sent point-to-pointing.
He added: “The way that trade was they look well bought. Prices were mental, so strong. High-end pointers are hard to buy and horses in France are costing a lot of money, but trade is cyclical. The fashion was to buy pointers, then horses in France and now it’s back to stores.”
Other members of the British point-to-point fraternity who got on the scoresheet at the Derby Sale included Cambridgeshire’s Dale Peters, who paid €40,000 for a Getaway gelding, and Tom Lacey, a licensed trainer who runs a few horses in point-to-points in his own name. He paid €55,000 for a son of Dee Ex Bee in the name of UK P2P.
Tom Lacey, whose purchases included a son of Dee Ex Bee who could be heading down the point-to-point route (Tattersalls Ireland)
Cheshire’s Fred Timmis was surprised by prices, but managed to buy a gelding by Poet’s Word for €8,000. Timmis said: “We were lucky to get him – he didn’t make his reserve of €15,000 and we bought him outside the ring. I double-checked him over to make sure there was nothing wrong, but he’s come back fine. I’d hope to get him out early next year.
“We were trying to buy horses to run in British point-to-points, but those we thought might make €25,000 to €30,000 were making €70,000 to €80,000. We will go back to Tattersalls Ireland for the August Sale, and while I expect the prices will bounce on from the Derby Sale you would hope to find one or two horses. We’re hoping to have a real good go next season with some maidens who are owned by syndicates.”
Other British trainers who got in on the action at Part II included Fran and Charlie Poste of Warwickshire’s Station Yard. They paid €20,000 for a son of Poet’s Word and €16,000 for a gelding by Sea Moon.
Full results and statistics: https://www.tattersalls.ie/sales/derby-sale/4DCGI/Sale/DBY26/Main/
Part II results: https://www.tattersalls.ie/sales/derby-sale-part-2/4DCGI/Sale/DB226/Main/
*Tattersalls Ireland’s August National Hunt Sale takes place on August 12 and 13
