Treasure trove of quality mares to light up Magic Millions sales ring
Changing face of Australian market on show as Arcadia Queen and Melody Belle headline day one
Further proof of a market squeeze, spurred on by high-end weanlings realising yearling prices, could flow on to the breeding stock sales as buyers shut out of the foal segment seek race fillies or mares in foal in order to acquire desirable trade stock for the years ahead.
Evidence of the shift in the dynamic of the Australian bloodstock industry is tipped to be on show when the three-session Magic Millions National Broodmare Sale starts on the Gold Coast this morning.
An array of elite race fillies and mares, to be sold in the opening session, may set the tone for the changing marketplace in which skyrocketing yearling prices experienced this year has forced more end-users to consider the weanling market.
In turn, some industry observers predict more buyers to consider entering the market earlier by purchasing mares off the track or mares in foal with commercial coverings.
“We were actually talking about this (on Sunday) night: how many weanlings were purchased by end users last week and we thought around 75 to 100 out of that Magic Millions catalogue (of 340 sold) were purchased by end users by the Ciaron Mahers and the like,” Attunga Stud’s Brian Nutt said yesterday.
“That just indicates that they are willing to hang on to those horses for an extra year hoping that they’ve got a bit of a bargain by buying them as weanlings.
“It does take those 75 to 100 horses out of the sales circuit next year, which means it might create a few opportunities for breeders like us to get something into a yearling sale that may not have got in prior to the end users buying all those weanlings.”
Nutt suggested the movement of buyers down the so-called food chain, with more end users pushing into the weanling market, could see foal pinhookers pay closer attention to the mares’ market.
“The way the industry is heading, there are some opportunities to be buying these race fillies off the track, for example, and maybe even putting them in foal and turning them over again next year,” he said.
“The mares who are carrying foals to stallions whose service fees have gone up like Deep Field and Capitalist, there are still going to be some opportunities to buy those sorts of mares at this sale.”
The Australian broodmare market kicked off with gusto at the Chairman’s Sale earlier this month and the level of demand for elite mares is expected to continue this week, but vendors and buyers will receive a clearer guide on just how much bloodstock values have increased year-on-year inside the first hour of the race fillies and mares session this morning.
Champion New Zealand mare Melody Belle (Commands) and Group 2 winner Mizzy (Zoustar) will go through early before Bella Vella (Commands), Fiesta (I Am Invincible) and Arcadia Queen (Pierro) are sold later in the day, prior to the Shadwell Stud Australasia unreserved dispersal of race fillies and mares in foal taking place.
In all, there are eight Group 1-winning mares to go under the hammer today.
“The greatest collection of mares you’ll ever see are being sold here (today),” Magic Millions managing director Barry Bowditch said.
“It’s a treasure trove and we’re very excited that it’s here as we’ve been working hard on this for months now and it’s exciting that these mares have made it here.”
Attunga Stud will offer two high-class mares about three quarters of an hour into the session, New Zealand Oaks (Gr 1, 2400m) winner Miss Sentimental (Reliable Man) (Lot 523) and dual Group 3 winner Missybeel (Savabeel) three lots later.
“I think there are a lot of buyers here and there’s a lot of quality buyers here as well,” Nutt said.
“It is nice to see the Kiwis back on the sales circuit. You’ve got Cambridge Stud, Pencarrow Stud and Little Avondale’s Sam Williams and some of the major New Zealand breeders represented, then you’ve got all the Australian studs as well, so I think there will be enough money to spread around.
“It’s going to be a very exciting sale for vendors, in particular.”
Some mare owners will be tempted to keep hold of their mares rather than selling given the demand that has been experienced at the yearling and weanling sales this year, but Nutt has advised his clients to take advantage of the current market.
“There will be (a temptation to hold stock), but I have told a few clients that I think they’re selling at the top of the market,” he said.
“It is not a bad play to take some cash when it is on offer and, in particular, I refer to Tsaritsa, a Group 2 winner in foal to I Am Invincible who we are selling.
“Some of these race fillies we’ve got have to be sold because they’re owned by big syndicates but I think the timing is perfect to have a nice mare in the sale and you are letting someone else have the risk going forward.”
Big stud farms to make presence felt
One of the key segments of the buying bench will be the farms investing in mares to support their young stallions and the competition from those players is expected to be fierce.
At the Chairman’s Sale, Coolmore signalled its intent to continue sourcing high-class mares for new season shuttler Wootton Bassett (Iffraaj), already acquiring Celebrity Queen (Redoute’s Choice) ($2.5 million), El Dorado Dreaming (Ilovethiscity) ($1.35 million) and Savanna Amour (Love Conquers All) ($1.25 million) at Inglis’ select breeding stock auction.
It is a strategy the international breeding and racing giant has employed with unbeaten US Triple Crown champion Justify (Scat Daddy).
Coolmore is also launching dual Group 1-winning two-year-old King’s Legacy (Redoute’s Choice) this year and it can be assumed that some mares bought this week would also be sent in his direction.
Yulong Stud has three new stallions this year, Tagaloa (Lord Kanaloa), Lucky Vega (Lope De Vega) and Yulong Prince (Gimmethegreenlight), and the Yuesheng Zhang-owned business has also taken on Written Tycoon (Iglesia) for his return to the state.
Yulong is also tipped to be a big player in the market in order to support the quartet while Kia Ora Stud’s re-emergence as a stallion farm could also add depth to the buoyant market.
Kia Ora Stud is standing last year’s champion two-year-old, Golden Slipper Stakes (Gr 1, 1200m) winner Farnan (Not A Single Doubt) and dual Group 3-winning juvenile and Group 1-performed sprinter Prague (Redoute’s Choice) this year.
Vinery Stud has Golden Rose Stakes (Gr 1, 1400m) and Caulfield Guineas (Gr 1, 1600m) winner Ole Kirk (Written Tycoon) as a new addition on its roster while Widden Stud has Anders (Not A Single Doubt) in the Hunter Valley and Russian Camelot (Camelot) and Doubtland (Not A Single Doubt) being launched at its new Victorian operation this year.
Rosemont Stud, who has Group 2-winning juvenile Hanseatic (Street Boss) standing alongside Shamus Award (Snitzel) at its Victorian farm, will also be active in the mares’ market this week.
“We’ve had a fantastic sellers’ sales season so far and the weanling sale was evident of that last week,” Bowditch said.
“The expectations are that there’s enough buyers here and that they’re liking what they’re seeing, so all in all, if the market’s realistic and the vendors are where they need to be (with reserves), I think we’re in for a good sale.”
International buyers from Europe, the US and Japan have also had representatives on the ground inspecting mares, which could fuel competition in the mid to top-end of the market.
Bowditch said: “We have been touching base with our international market regularly and ensuring that, if they are looking to play at the sale, that we are getting them engaged, and the response has been pleasing thus far.
“I think at this sale, as most sales are in Australia during these Covid times, that we are very reliant on the domestic market, which has stood strong this year.”
The first of three days of the National Broodmare Sale starts at 10am today.
Lots to watch – day one
Lot 510 – Melody Belle (Commands)
Lot 528 – Mizzy (Zoustar)
Lot 643 – Bella Vella (Commands)
Lot 717 – Nettoyer (Sebring)
Lot 723 – Arcadia Queen (Pierro)
Lot 726 – Fiesta (I Am Invincible)
Lot 801 – Minhaaj (Exceed And Excel)
Lot 815 – Qafila (Not A Single Doubt) – in foal to Dundeel
Lot 831 – Ektifaa (More Than Ready) – in foal to I Am Invincible