Pharoah Yearlings to Pique American Interest on Gold Coast

[Wandering Eyes]

The American influence at Australia’s iconic Magic Millions Yearling Sale on the Gold Coast has grown significantly over the past five years, but it is set to elevate to a new level next month with the first Southern Hemisphere yearlings by Triple Crown winner American Pharoah (Pioneerof the Nile) on offer. This year’s Book 1 renewal takes place from Jan. 8-11.

The ongoing investment by the likes of Jon Kelly, Barbara Banke’s Stonestreet Stables, Spendthrift, and SF Bloodstock and Winstar Farm, through their partnerships with Newgate, has ensured a growing American influence on the Gold Coast buyers’ bench.

Magic Millions Managing Director Barry Bowditch sees obvious synergy between what the American buyers want and what the Australian market has to offer, which when coupled with a favourable currency rate, makes for good shopping for those willing to invest.

“I think our sale is built on speed and built on 2-year-olds, so we do resonate with the American style a lot,” said Bowditch. “That has a huge bearing. Obviously the currency at the moment, gives the Americans a huge opportunity to invest in quality stock.

“For what they can buy a horse for here in Australia, they will be buying well with the currency. They will be competing to buy these horses, but obviously their dollar is worth more than ours and it’s a huge opportunity to play in our market. Not only that but it’s a chance to come to the Gold Coast, have a good time, be well looked after and buy some horses that are huge investments for them here in Australia.”

As it stands four weeks out from the sale, the Australian dollar is worth 68.2 cents compared to 71.7 cents at the time when the 2019 sale was held. That’s around a 5% discount, or around $8,300 per average lot, based on the average price of US$170,150 at the 2019 sale.

Bowditch said that is one of the many selling points Magic Millions uses to attract overseas buyers, along with the quality of the 888 yearlings on offer in the premium book of the sale.

“Australian horses go all over the world and do great things now, so these guys notice what happens and they want to be a part of it,” he said. “They see our racing is strong, they see the vibrancy of our industry and they look forward to being a part of it.

“The ones that have been a part of it in the past have gone home and told their friends about it. it’s been a slow burn, but it continues to build into something very positive and the American market is a lot bigger than it was five years ago.”

With American Pharoah’s first Northern Hemisphere crops making such an impression in the sales ring and on the track, the arrival of his first yearlings to the marketplace in Australia, including 27 at the Gold Coast, is certain to pique American interest.

Coolmore Australia principal Tom Magnier is looking forward to having the market assess the Triple Crown winner’s Australian progeny, beginning with the Gold Coast Sale.

“American Pharoah is one of the greatest racehorses of all time,” said Magnier. “Ever since the day it was announced that he was shuttling to Australia, we have been overwhelmed by the support he has received from local breeders.

“In each of his three seasons in the Hunter Valley he has covered a full book of quality mares, including many of Coolmore Australia’s very best mares. These include, but are not limited to Tulip (Aus) (Pierro {Aus}), Lake Geneva (Aus) (Fastnet Rock {Aus}), Formality (Aus) (Fastnet Rock {Aus}), Estelle Collection (NZ) (Stravinsky) and Srikandi (Aus) (Dubawi {Ire}).”

And Magnier is very confident that his yearlings will make a splash with the international buyers’ bench assembled by Magic Millions.

“American Pharoah is the most incredible looking horse with the most amazing temperament and he seems to have passed on many of his great qualities to his progeny,” he said. “In general they are scopey horses with wonderful actions, immense quality and presence. We expect that Australian trainers, syndicators and agents, particularly considering how well his progeny have done in Europe and America, will be very eager to get an American Pharoah in their stables at the sales in 2020.”

Bowditch also expects the interest in the first Australian progeny of the Triple Crown winner to be substantial.

“This is the first Triple Crown winner that has ever stood down this way and to have 27 of them in our catalogue and to launch him here in Australia is very important for Magic Millions,” he said. “The breeders have supported him heavily from the start and sent great mares to him. The physicals that we have put together are pleasing and so I think there is no doubt the market is going to take to American Pharoah.”

Coolmore Australia will offer seven of its own as part of its Gold Coast draft, including a colt out of group winner Jazz Song (Aus) (Fastnet Rock {Aus}) (lot 417) and a filly out of the Group 1 placed Lake Geneva (Aus)) (lot 462), just two of the 12 siblings to stakes winners by American Pharoah in the catalogue.

“He was the leading first-crop sire at the weanling sales this year, and given the quality of the yearlings that we are seeing, we anticipate that he will be hugely popular at the yearling sales in Australia throughout 2020,” Magnier said.

The reception of American Pharoah in Australia will no doubt give Coolmore a strong read on what will happen when Justify’s Australian-bred stock hit the market in the coming years.

“Five years ago people wondered whether or not there would ever be another Triple Crown winner,” said Magnier. “To think that there are two Triple Crown winners standing at Coolmore Australia in the Hunter Valley is quite surreal, and we consider ourselves extremely lucky to be a part of it. We hope that Justify and American Pharoah can do great things for the Australian Thoroughbred industry and that their legacy can live on in this part of the world for future generations.”

 

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