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2005 Keeneland November Breeding Stock Sale

Strong from start to finish, demonstrated by the number of records broken, including third highest gross of all time and world record price of $9 million for Ashado. This sale again demonstrated the depth of the American breeding stock market and the quality of which you can buy.

As a buyer with a sale of this quality and breadth, you really need to do your homework. There were nice horses from Day one to Day twelve and although the market was strong, value was there to be had. Being a participant was key to finding and purchasing the right horse.

There was a noticeable trend at November where buyer’s had a tendency to fall on horses with race performance rather than pedigree. If given two similar horses, one with proven race ability, the other with a good pedigree, it was the one with the results on the track that buyers were paying the money for.

The prevalence of good stallions from the Halo line (Saint Ballado, Southern Halo, More Than Ready) in America presents great opportunities and advantages for the Australian breeder. Mares from the Halo line can be presented to the many stallions in Australia of Northern Dancer/Danzig/Danehill descent. This cross has worked particularly well demonstrated in horses such as Benicio, Perfectly Ready, Undoubtedly, Sharp and Al Maher.

The Mr Prospector/Halo cross is also producing some successful horses with Ready to Mombo (dam by Kingmambo, by Mr. Propsector from a grand-daughter of Northern Dancer) and Readyforcatherine (dam by Kingmambo, by Mr. Prospector from a grand-daughter of Northern Dancer).

Vin Cox Bloodstock Purchases

* all AUD prices are approximate

2005 Keeneland September Yearling Sale

In what can only be described as a mammoth sale, Keeneland lived up to its reputation as the world’s premier Thoroughbred auction house, surpassing last years world record with 3,545 yearlings sold for an enormous $384,349,900.

As expected the first three days of the sale were extremely strong, featuring a record $9.7 million dollar colt by Storm Cat out of multiple Group 1 winner, Tranquility Lake. The sale buttressed by continued high demand, meant that the sale went over the previous years gross early in day seven.

This year’s crop of yearlings was particularly strong; this was clearly demonstrated by the surge in sales. However buoyant the market may have been, value was to be found, particularly for the astute overseas buyer.

Vin Cox Bloodstock purchased 5 yearlings as detailed below. The purchase of these yearlings demonstrates an ability to buy quality stock, from good families. All are super types and were purchased for a reasonable amount of money.

* All AUD prices are approximate.

2005 Magic Millions National Sale Purchases

The Magic Millions National Sale has made giant strides in recent times and management would have to be well pleased with the record-breaking results achieved this year. Overall the sale grossed some $52 million, a massive figure reflecting the sheer scale of this catalogue featuring over 1800 lots.

The broodmare section was as strong as expected and the better mares were certainly making what they were worth and sometimes over. I feel there is almost better value to be had by purchasing privately at present rather than tackling the open market of the sale ring.

There was speculation prior to the sale about the possibility of a $1million mare with likely candidates Regimental Gal and Forum Floozie (NZ), however both fell just shy of the mark. A line can be drawn between last year’s MM National sale-topper Victory Vein ($810,000) and Regimental Gal, which made $800,000 – both were undoubtedly top class on the track but a lack of pedigree is an anchor at this elite level of the market.

Forum Floozie (NZ) was passed in at $850,000. She was afflicted to a degree by the reverse syndrome in that she had the pedigree, being a half-sister to Starcraft, but was only a Listed winner on the track, despite placing at Group One level. There is no doubt that if her Group One placings were in fact wins, she would have been a $1million mare for sure.

The weanling sale was sensational, attracting a broad selection of top quality commercial grade youngsters, and with a clearance rate of 92% it was a sale that left everyone happy, vendors and buyers alike. Danehill’s champion European son Rock of Gibraltar (IRE) was the talking horse at this sale, his first Australian crop supplying four of the top six lots including the colt from Skating which set a new Australasian record price for a weanling at $660,000.

The yearling market was also up on previous years and while there is still a perception that these later yearling sales are a dumping ground for lesser individuals, there were plenty of buyers in attendance and horses that were deserving of consideration, sold extremely well.

2005 Australian Select Weanling Sale

Both average and gross were down significantly at this sale compared to last year, a reflection on the overall lack of quality. The nicer horses sold accordingly, but they were few and far between. A 90% clearance rate was perhaps assisted by the number of weanlings sold under foal share arrangements, many of which failed to make anything close to their service fee.

2005 Inglis Sires’ Produce Yearling Sale

Again, a drop in average and gross on last year, with far too many backward and poorly conformed yearlings offering scant appeal to buyers.

2005 Inglis Easter Purchases 6 April 2005

The 2005 Australian Easter Yearling Sale broke all records achieving a mind-blowing aggregate of $90 million, while the average held solid from the previous year rising slightly to finish at $207,663. There is no doubt that Easter is Australasia’s number one yearling sale and with eight individual million dollar horses changing hands, the strength at top end of the market was phenomenal.

The demand for the progeny of Redoute’s Choice exceeded all expectation and this young stallion would appear to have the world at his feet.

2003 Danehill x Gazette Filly

2005 Australian Select Broodmare Sale Purchases 6 April 2005

The overwhelming success of the Australian Easter Yearling Sale rolled smoothly into the Select Broodmare Sale with more record figures and a very bullish market. All indications for the local industry seem extremely positive and the previously much feared “future without Danehill (USA)” is looking pretty rosy to say the least.

2005 Inglis Premier Purchases 18 February 2005

The 2005 Premier Yearling Sale exceeded all expectations, with record gross ($22.2 million), average ($59,011) and a terrific clearance rate of 85%. The Victorian market has proven challenging for Sydney based auction house William Inglis and Son Ltd, but results like these are a clear justification of their faith in the Victorian breeding industry. From a buyers point of view the market was extremely strong and the many nice horses on offer attracted keen competition.

2005 Inglis Classic Purchases 20 January 2005

Management at William Inglis were no doubt well pleased with this sale, given that it generated a record gross of $14,438,954 and achieved an average price of $34,792, on a par with that recorded at last year’s highly successful Classic Sale. On that occasion the average soared by 17%, so to maintain that figure with an increase in the number of horses catalogued is a most desirable result.

The Classic is a favourite of mine and the horses on offer this year were of a particularly high standard, so much so that I believe we will see a great many quality racehorses coming out of this sale over the next yew years. As we have come to expect the good horses sold extremely well, while some of the lesser types were hard to place.

2005 Magic Millions Purchases 18 January 2005

The 2005 Magic Millions Yearling Sale was able to consolidate on the impressive gains achieved last year by posting a new record average ($117,262) and gross ($65,432,000), without the hype generated by a million dollar yearling. The overall standard of horse was very pleasing, however in a climate where young unproven sires are expected to fill the void left by Danehill (USA), it is the female families that buyers fall back on and in that regard this sale probably came up a bit short.

Talk of further increases to the number of yearlings offered at this sale in the future would seem only detrimental to its progress, given that there is already perceived to be a large tail on this catalogue and if numbers do go up I fear it will be the tail that grows larger still.

Breeding Stock

Updated 12.12.2008

• Mares under $40k
• Mares $40k to $100k
• Mares over $100k
• Mares Overseas
• Stallions
• Weanlings
• Yearlings

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Vin Cox Bloodstock Level 1, 5 Jersey Rd Woollahra NSW 2025
p 02 9328 5788 f 02 9328 5255