Buyers Remain Cautious As Goffs Ends

[Wandering Eyes]

The curtain came down on six days of polarised trade at Goffs on Saturday with the single-session Part 2 of the November Foal Sale. Unlike last year, the foal sale was condensed into one day rather than spread over two, and following a dismal clearance rate at Friday’s mare sale it was encouraging to see a bit more activity on Saturday, albeit at a modest level. Again, the market spoke loudly when it came to deciding what stock was desirable, especially from a pinhooking point of view, and buyers were still particularly cautious about where they allocated their spend.

The clearance rate for the day reflected this and came in at 61%, a small drop on last year’s 66%. Consequently, the aggregate fell 36% to €1,033,800, while the average and median both declined to €6,713 (-18%) and €3,700 (-36%), respectively.

Looking at the six-day sale as a whole, it was obvious from midway through that it would struggle to match the impressive returns posted last year and the total aggregate of just over €28-million fell a long way short of the 2017 turnover of €42-million.

“Everything is relative,” reflected Goffs Chief Executive Henry Beeby at the close of business. “Whilst today’s trade could not be described as strong, it has moved up a notch compared to Friday and those foals that were deemed to have residual value have enjoyed keen competition from a large group of pinhookers right up to the very last lot. Today’s top price of €52,000 is a fair bit higher than at last year’s comparable sale and it was perhaps revealing that the clearance rate was two points ahead of Day 1. None of this, however, should detract from the issues we highlighted yesterday and we recognise the major challenges facing breeders in the current climate. Our commitment is to continue to work tirelessly to provide the best market possible and we continue to invest around the world as we strive to attract the biggest number of buyers to each sale. We appreciate the support we receive from so many breeders and were pleased that the upper end of our foal sale earlier in the week enjoyed a strong and vibrant trade for the best with several very happy vendors. That the four day foal sale median price held steady is interesting, but it must be viewed against a clearance rate that was short of 2017 as well as the fact that last year’s foal sale made huge advances, so we are still well ahead of 2016 by every measure.”

He continued, “The format of the sale is now well established and the addition of the new Barns X, Y and Z to give us an additional 96 stables, taking the total to 762, has been universally well received. They are part of the ongoing programme of investment we continue to make in Kildare Paddocks to ensure it maintains its place as simply the best sales ground for vendors, purchasers and horses. At this point I want to pay tribute to our Facilities Manager, Ger Hennessy, and his superb team who literally worked night and day to complete the new blocks whilst at the same time delivering the impeccable service for which we are renowned. Nothing is too much trouble for Ger and his colleagues, and we are lucky to have them on our team.”

Last year the top lot at Part 2 sold for €39,000 and 22 lots made €20,000 or more, and while there were only 10 foals that made in excess of €20,000 this time around, the top lot exceeded that of 2017 when Tally-Ho Stud signed for a son of Fast Company (Ire) for €52,000. In getting the better of another O’Callaghan, Robert of Yeomanstown Stud, for the big-walking colt offered by Collegelands as lot 1381, the Tally-Ho team were adding to a considerable haul of foals bought this week that saw them end up the leading purchaser by aggregate in Part 1, when they bought 19 foals for just shy of €1-million.

Lot 1314 from Ballybin Stud also proved one of the more sought-after lots when selling to Liam McAteer’s Woodtown House Stud for €33,000. McAteer, who bought fillies by Shalaa (Ire) and Showcasing (GB) earlier in the week, said he did not intend to continue his shopping on Saturday but when he saw the son of Footstepsinthesand (GB) he swiftly changed his mind. “He is a smashing horse with a lovely profile and good conformation,” McAteer, a farrier by trade, said afterwards. “He’s a good, strong sort who should suit an early yearling sale next year. We love Footstepsinthesand also and we were keen to get this foal,” he added.

Guy O’Callaghan of Grangemore Stud knows how to turn a profit with a foal and he bought lot 1414, a colt by Tara Stud stallion Estidhkaar (Ire), for €32,000. Offered by Glenanore Stud, the foal is out of the French two-time winner Cumbfree (Ire) (Footstepsinthesand {GB}).

The Yeomanstown branch of the O’Callaghans didn’t go away empty handed, and their spending included lot 1507, a Dandy Man (Ire) filly offered by Cafre Enniskillen Campus that sold for €30,000.

The first foals by Tally-Ho Stud stallion Mehmas (Ire) were also well-received in Part 1 with six selling for an average of €39,000 and that demand followed through to Part 2 when a colt from Nanallac Stud (lot 1239) sold for €28,000 to Wyanstown House. The foal’s dam Oonagh (Ire) (Arakan) was a winner herself and as well as being a half-sister to two stakes performers in Majestic Myles (Ire) (Majestic Missile {Ire}) and Parbold (Ire) (Dandy Man {Ire}), her first produce is the promising Gordon Elliott trained 2-year-old Aristocratic Man (Ire) (Dandy Man {Ire}).

The next sale in Goffs is the December National Hunt Sale which takes place Dec. 12 and 13.

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