‘There’s Immense Value At The Guineas Sale – It Can Be The Best Spend Of A Pound’

[Wandering Eyes]

Middleham Park Racing boss Tim Palin and 13-time champion trainer in Norway Niels Petersen, two men who have been associated with recognisable Tattersalls Guineas Breeze-Up Sale graduates in The Platinum Queen and Queen Azteca, have returned to source of their respective stars in the hope of finding another bargain. 

The Platinum Queen (Ire) (Cotai Glory {GB}), who was bought for just 57,000gns at this sale in 2022, carried Middleham Park's blue and orange colours to Group 1 glory in the Prix de l'Abbaye that same season while Petersen sent out 30,000gns purchase Queen Azteca (Sharp Azteca) to win the G3 UAE Oaks at Meydan this year. 

Both buyers have extolled the Guineas Breeze-Up Sale as an avenue for finding high-class runners at a realistic price, although Petersen admits that the secret is beginning to get out about the sale. He says that he expects to face off with fellow trainers Bhupat Seemar and Jamie Osborne on the later-maturing dirt-bred horses in the sales ring on Thursday. 

He explained, “There are a couple of potentially nice ones so we're hopeful of striking again. Compared to the Craven, I think this sale is more our market. We got a New Bay (GB) colt at the Craven for 85,000gns but we tend to see more later-maturing horses who are not as fast and precocious as at the Craven, which is why we like coming here.”

Petersen added, “This sale has suited us better over the years. It has become a thing with Jamie Osborne, Bhupat Seemar and plenty of others coming here so everybody is aware of the same thing but sometimes you can get lucky. You've always got the top ones but if you stay away from them you can buy a nice horse in the middle market. We might just get lucky again!”

Petersen: alongside bloodstock agent Edgar Byrne | Tattersalls

While Middleham Park did not strike at the Craven, the leading syndicate, which has been in operation for over 30 years, added two juveniles to the roster at Doncaster last week. Palin agrees with Petersen that concentrating outside of that top bracket can pay huge dividends for buyers.

He said, “The Platinum Queen was a superstar for us. She took us on a whirlwind journey and we sold her on for 1.2 million gns at the end of the year having bought her for just 57,000gns at this sale. That was absolutely a dream come true off the back of winning a Group 1 along the way. She was the dream ticket and is exactly the type of horse that can come from the Guineas Sale. We've had a huge amount of success buying off Tally-Ho Stud and that's where she came from.”

Palin added, “We actually bought The Strikin Viking (Ire) (Inns Of Court {Ire}) off Tally-Ho at this sale last year as well and he went on to finish second in the Railway Stakes at the Curragh. Because the pedigrees are possibly not quite as sexy as the Craven, there can be immense value to be had at the Guineas Sale. When you are operating in that middle market, it can actually be the very best spend of a pound.”

There were plenty of pointers to be taken from last week's Goffs Breeze-Up Sale at Doncaster with a view towards how things might play out at Park Paddocks this week. Certainly with regards to the middle market, what played out at Doncaster may well be more closely aligned to the Guineas Breeze-Up Sale compared to the Craven. 

Looking back on Doncaster, the 83% clearance rate–which happens to be the same as what was posted at the Craven-reads all well and good on paper but when you delve a little deeper all is not as rosy as it seems. Make no mistake, last week was on a par with the Craven and was undoubtedly another blockbuster of a sale. But only for those vendors who brought the right product to the marketplace. And the definition of what the right product is right now is definitely changing. If a vendor happens to land on the list for Amo Racing, Godolphin or Wathnan Racing, the sky's the limit. Johnny and Danielle Hurley's Kodi Bear (Ire) colt selling to Godolphin for £500,000 at Doncaster is a prime example of what can happen. But there is a long way to fall if you are not making those lists, which is illustrated by the fact that only a handful of other buyers-Yulong, Jamie McCalmont, Anthony Stroud on behalf of KHK Racing, Mark McStay, and MV Magnier-have spent north of 300,000 at the Craven or at Doncaster. 

Leading handler George Peckham, who sold Queen Mary Stakes winner Leovanni (Ire) (Kodi Bear {Ire}) at Doncaster last year, has revealed he is finding the going tough and says the middle market has become trickier than ever due to the rising costs facing middle-tier owners. 

Peckham said, “It hasn't been quite such a good year this year but you've got to roll with the punches. The middle market, as we have seen year on year, is a tricky old place to be. Things have only got worse, certainly this year, with the national insurance contributions going up. A lot of the people who buy breeze-up horses within the 20 to 50 grand bracket are really the ones who are feeling the pinch and they are nearly getting blown away. Your average purchaser is obviously feeling the pinch and they are having to reevaluate. A racehorse is obviously not at the top of those people's wishlist right now. But it can be a little bit demoralising for a vendor, I've got to be honest, when your horse has done a nice, professional breeze but struggles in the ring.”

Despite what appeared to be a strong clearance rate at Doncaster, a lot of the pinhookers took a kicking. Only 43% of the 155 pinhooks made a profit compared to the 60% that worked out at the Craven. On top of that, there were 30 private sales within the 140 horses that sold last week, with many of those deals involving vendors staying in for a share. 

George Peckham | Tattersalls

To that extent, Palin revealed that Middleham are actively engaging with one vendor who failed to sell his horse at Doncaster last week and, while he agrees with Peckham's comments about what he describes as the “feast or famine” nature to the market at present, he shared that the demand from syndicate members to get involved with breeze-up horses has never slipped. 

Palin said, “It's been a little bit feast or famine for consignors but this sale should be a marriage made in heaven for the vendors and the buyers because there will be sensibly-priced horses and plenty of middle market people there to buy them. Of course, there will be some telephone numbers spent on the choice-and arguably the fastest-horses but, if you delve a little bit beneath that level, you can literally find a pot of gold.”

He added, “We've traded through three recessions and the spend of the leisure pound on bloodstock has never gone away. We bought two at Doncaster last week and we've already sold out one-and-a-half of those horses. We're actually trying to buy one privately from that sale as well but I'm not sure if it will happen or not. But the thirst for shares in racehorses has never gone away. People are as hungry as they've ever been and we'd be hoping to buy six to eight breeze-up horses between now and the end of the season.”

One thing about this great game is that fortunes can change from sale to sale and, while Peckham has not had a year to remember thus far, he has cause for optimism with Kodi Bear [lot 204] and Havana Grey (GB) [286] fillies, both of whom posted good, solid breezes and should have no trouble finding a suitor. 

Peckham concluded, “This game is all about fine margin and unfortunately two of our intended lots didn't make it this week. Obviously, we're all trying to make a few quid and to survive in business but our prime objective is to produce racehorses. We've only been doing this job for four or five years now and I'm well aware that horses like Leovanni don't come around very often but hopefully we won't have to wait too long for the next filly or colt of that standard. We have another Kodi Bear filly this week. She is probably a six- or seven-furlong filly and has a lovely big stride on her. The Havana Grey filly is ready to rock and roll now and is from a very speedy family–she's out of a Kodiac (GB) mare. Excited to offer these two.”

 

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