Viewing entries in
Emperors Palace National Yearling Sale 2011

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THE BIGGER THE FEE, THE BIGGER THE FALL

South African Stallion Eye
South African Stallion Eye

Price is what you pay. Value is what you get.

(Image : Summerhill / Emac)

“If you box smart, you can still keep in front.”

Mick Goss, Summerhill Stud CEO
Mick Goss, Summerhill Stud CEO

Mick Goss

Summerhill Stud CEOFollowers of these columns will remember our commentaries on the exposure breeders (and in particular, our cheque-book breeding friends) faced when committing themselves to the payment of stud fees in the region of R250,000. There were some who suggested our statements were prompted by envy, or that they were a marketing ploy to divert traffic our way.

The problem with either of these observations was that we’ve always taken the view that the longer one is preferable, and that short term gain just as easily becomes resentment, while on the marketing side, we long ago understood that when horsemen are infatuated by a stallion’s promise, they will go where their instincts take them, willy-nilly.

There’s been much said about the combined receipts (R215million) of the Cape and National Yearling sales, and there is value in these reflections, but the dirty truth on high service fees resides in the number of people who failed to recover their production costs on the three top priced stallions of the 2008 season. It is so that a number of other yearlings failed to recover their production costs, including those conceived off considerably lower fees, (like some of ours,) but the “hiding” was substantially bigger at the upper end.

Given their pre-eminence as the leading sires of Stakes winners (see table below), Western Winter, Fort Wood and Jet Master richly deserve their place at the top of the stud fee table. The question is, what should the top stud fees be?

Click here to view

South African Stallions Lifetime Statistics…

We’ve always lived by the adage that, against the average price of a sire’s progeny, breeders should be able to make a profit. In the end, it’s the only sustainable solution. That won’t stop some horses failing to return a positive outcome, but in broad terms, it gives most producers a chance. In the context of a stud fee approaching a quarter of a million Rand, payable upfront, (with a live foal guarantee it should be said,) and adding a R100,000 to R120,000 for the costs of the keep and amortization of the broodmare, the foal, the holding cost on your money, the cost of marketing and the commission payable to the sales company, we would estimate an outlay of the order of R370,000 for the progeny of such a stallion. It’s illuminating, in that context, to visit the results of the National Yearling Sale, where the combined offering for the three top stallions was 74, 69 of which were sold, and a disappointing 41 failed to make their costs of production. There will be those who’ll tell you, that’s how markets work. And if you buy at the top, it’s the risk you take. On the eve of my departure for the AGM of one of the world’s best risk managers, Warren Buffet’s Berkshire Hathaway, I’m tempted to remember, “Price is what you pay. Value is what you get”, and another parol, “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.”

Against these numbers, horses like Captain Al (average R234,808), Silvano (R277,667), Kahal (R167,105) and Muhtafal (R182,692), all established sires in their own right and all standing in the R50,000 – R60,000 bracket at the time, just managed to get their customers home in the black, yet it remains a matter of concern that proven sires of this calibre should be sailing so close to the bone. The ex-Summerhill stalwart, National Emblem, with his third Klawervlei crop on offer off a stud fee of R80,000, averaged R151,250, the surest sign of how brittle (or should we say fickle?) the market can be.

One thing’s for sure, and that is that the market will demand a reappraisal of stud fees, and the reality is, the market will get what it wants. Going forward, and looking at the production capacity of the nation’s leading stallions in the way of Stakes winners, it’s probably fair to say, our market still remains, despite these numbers, the best value-for-money in the world. And if you box smart, you can still keep in front.

Any stallion able to sustain a stakes’ winners to runners percentage of 10% and beyond, meets the international standard for an exceptional sire, and it seems South Africa is in a purple patch right now, measured in those terms. That Western Winter, who tops the log, should have 9 of his 15 on offer at the National Sale, make less than the production cost, begs the question we asked in the immediate aftermath of the sale, and that is just how much the money taken at the Cape Premier sale, knocked-on to the final numbers in Johannesburg.

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BEHIND THE SCENES PICS FROM THE NATIONAL YEARLING SALE

National Yearling Sale 2011 Behind The Scenes
National Yearling Sale 2011 Behind The Scenes

Click above to view behind the scenes photos

from the National Yearling Sale…

(Photos : Heather Morkel)

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

Here are a few “Behind The Scenes” photos from Block A

at the TBA Sales Complex

…through the lens of Heather Morkel.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

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WHATEVER THE PRICE...

Mike de Kock and Jegan Malherbe at the National Yearling Sale Block A
Mike de Kock and Jegan Malherbe at the National Yearling Sale Block A

Jehan Malherbe and Mike de Kock at Block A

(Photo : Catherine Hartley)

…WE’RE NONETHELESS TRULY GRATEFUL.

To all our customers, buyers, underbidders

and “tyre kickers”, it was good to see you

and many thanks for the help.

summerhill stud, south africa
summerhill stud, south africa

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THE SALE DEBATE : WHERE HAVE ALL THE FLOWERS GONE?

Bloodstock South Africa
Bloodstock South Africa

…there’s plenty of subject matter for quite reflection.

(Photo : Heather Morkel)

“Survival of the customer

means survival of the industry…”

While the debate about the contrasting outcomes between the Cape Premier Yearling Sale and the Emperors Palace National Yearling Sale rages on, there’s also plenty of subject matter for quiet reflection. Some claim that the Cape Sale received a disproportionate share of the marketing attention, while others put the differences down to a determination to make the Cape version exactly what its name suggests, viz the “Premier” sale. And then there is the view that it’s just a matter of timing, with the Cape Sale getting the first bite of the cherry.

Let’s acknowledge this: the Cape Premier Sale was very well promoted, and the organisers were rewarded with a palpable buzz around the ring. This undoubtedly had an impact, and there are lessons to be learnt from it. To suggest the outcomes were separated by marketing alone though, is far-fetched. Both selection panels (the pedigree and physical teams) proclaimed the National Sales catalogue the best they’d known from both perspectives, so clearly, the Cape Sale could not be ranked in the same class on those two scores and because of its timing in January, it’s unlikely it can aspire to do so. That its 300-odd entries accounted for an average of R414,000 (an all-time record for South Africa, against a National Sales average of R244,000) tells us that buyers at the National Sale got better value. They paid considerably less for what was regarded by the experts as a superior product, and if the statistics and panel assessments stand the test of time, it’s only a matter of time before buyers realise that they’ve skewed their spend disproportionately.

To put another spin on the outcome, the two top stallions on the Sires’ log at present, Jet Master and Captain Al, are separated by a mere R300,000 in total stakes exceeding R9million. They’re in a dead heat when it comes to Stakes winners (9 each) yet in the sale, Jet Master averaged R609,286 while Captain Al was quite miserable at R234,808. How come the chasm?

Don’t get us wrong, we’ve said all along, any sale which has the impact of the Cape Premier Sale is worthy of continuity, but as we wrote yesterday, we need to develop a sense of balance and perspective, so that not only does the sales programme as a whole survive, but also to ensure customers get the best deal we can give them. In the end, the survival of the customer means the survival of the industry, and that should be our only imperative.

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2011 NATIONAL YEARLING SALE : AGONY AND ECSTASY

Mick Goss interview Emperors Palace National Yearling Sale 2011
Mick Goss interview Emperors Palace National Yearling Sale 2011

Click above to watch a NYS interview with Summerhill CEO, Mick Goss

(Footage : Jimmy Lithgow / Inside Racing)

EMPERORS PALACE

NATIONAL YEARLING SALE 2011

So, the Emperors Palace National Yearling Sale is behind us, and on the bare facts, it was a tough one. There were those who say it was the toughest in 40 years of consigning horses to this venue, yet it has to be seen in its true light. A retreat, on the face of it, of some 25% in average, tells us the relative immunity the South African bloodstock market enjoyed while the rest of the world was crashing around us, has come to an end, and while there is truth in that, there are a few mitigating pointers on the table. These are :

  • The new Cape Premier Sale took something of the order of 120-150 candidates out of the National Yearling Sale, and whereas the old Cape Yearling Sale in the past turned in the region of R12-15 million, this year the Premier Sale transacted R90 million (against a National Sale last year of R160 million).
  • The organising fathers then took the decision to expand the National Sale to 600 lots, rather than reducing it from its regular 550 - 600, to around 350 - 400, allowing for those that defected to the Cape Sale. This alone was bound to impact on the overall average of the National Yearling sale, and has to be brought to account when analysing the bottom line figures.
  • If you allow for a drop of around 12,5% for that reason alone, it means the balance of that impact (between the actual drop and the notional reduction in average inflicted by the interposed Cape Sale,) then the National Sale has supposedly only retreated by 12,5%. Counted with the Cape Premier Sale, the total turn was in excess of R20million, but that was for 900 horses.
  • Vendors will tell you this is a fanciful observation, that their horses were making substantially less than they would’ve done in previous years, and they are correct in that. So the impact of the local economy has also to be factored in, and that is difficult to asses, as we don’t know where the line between the Cape Sale and the real economy is drawn.
  • What is apparent though, is that by interposing the new Cape Premier Sale on the broader sales programme, the balance overall has been upset, to the point, in a few cases of decimation. In its wake, the old Cape Yearling and the Equimark Sales were virtually obliterated and by holding the National Yearling Sale in mid rather than the end of April, and in expanding it to 600 lots, the impact on the latter was compounded.
  • Psychology is an inseparable part of a sale as well, and mindsets are quickly set in reverse. turning them around is a difficult task, so who knows now what impact the old Cape, Equimark and the National Sale will have on the KZN and National Two-Year-Old Sales.

We have a view on these things, and all of us have to remember that there is a bigger picture at play here, involving an imperative to preserve some sort of balance in the overall programme. Our suggestion would be to turn the Cape Premier Sale into an absolute boutique occasion, supported by the excellent publicity and hype that surrounded it this year, by limiting the entry to 120 -150 horses. That way, you will get more satisfaction among your vendors, without the moans of those that didn’t sell their horses as well as some did at the Cape Premier Sale (remember, there was a special levy of R10,000 over and above the normal entry fee, payable by all vendors, irrespective of whether they sold or not), and that way, the old Cape (Regional) Sale will be strengthened with less impact on it.

  • The National Yearling Sale should be repositioned at the end of April, to coincide with Champions weekend. That not only gives our customers a bit more of a “breather”, but it comes with some excellent racing and enormous prize money.
  • Why it was removed from that time, is difficult to fathom. Again, it should be limited to 350-400 entries, with no dual entry between the Cape Premier and the National Yearling Sale. Those vendors who offered horses in the last 150 lots this past weekend, will tell you how little competition there was on those horses, and this happened because we ran out of buyers, simple as that. Most people had filled their order books by Lot 400, with just a few speculative stragglers after that for some of what was left. Of course, the odd unique horse, such as our own Lot 421, the Giant’s Causeway filly, still made R2 million, but she was a rare gem in the market and was always going to have collectors waiting for her.
  • The KZN Yearling and the National Two-Year-Old Sales are correctly positioned date-wise, and the big sales (Cape Premier and National Yearling) will be softened to a degree by the reallocation of resources that follows with this reorganisation (and reduction) of the programme. Failure to limit numbers will result in a fatal reduction in the quality of the offering at regional sales, and that will sound the death knell for many, we’re afraid. We won’t see it this year if our recommendations are noted.
  • By the way, we think the Saturday evening format was a success, as there was healthy competition on most lots, but it will be particularly healthy if it coincides with a big meeting like Champions Day.

A sale such as the one we’ve just come out of, often results in knee-jerk reactions from producers. There will be those who will be asking themselves whether they shouldn’t be dumping mares on a wholesale basis, obviously resulting in shrinkage in the broodmare population. Last time this happened, Summerhill and its customers saw it as an opportunity, because in its wake, the supply and demand equation down the line moves quickly in favour of vendors again. Our own prosperity of the past ten years, was a direct consequence of moving against the trend.

The crop we’re offering as yearlings right now, was the most expensive from a cost-of-production perspective, in history. Service fees at the top end were running at R250,000 a pop, and there were even a number of Jet Masters, Western Winters and Fort Woods, making less than the cost of covering (in total 17 lots failed to recover their service fee to these major stallions alone). There will no doubt be a reconsideration of service fees in the wake of this sale, and so, given that the resultant progeny from the 2011 covering season will only get to the market in 2014, in relative terms, progeny conceived this year will be one of the least expensive crops to produce.

We have to assume, of course, that the world economy will be back on its feet by then, rather than on its head, as it has been, and since the impact of the current recession has come rather late in the day for the South African bloodstock market (again, relative to the rest of the world, who took their medicine some years ago), it’s probably fair to assume, that ours will be more in the nature of a “V” than a “U” dip, and that the bounce-back will therefore come relatively quickly.

A pick-up in economic activity in the retail market, not only in consumer goods, retail food and white goods sales, but in the new car market (which is always a good barometer for the horse business) as well, and the sustained strength in the stock and commodity markets etc, suggests that there may be light now at the end of the tunnel. We would therefore already be looking to something of an improvement, come Emperors Palace Ready To Run time. There’s R2 million up for grabs in the big race this year, representing the third highest stake on offer in the land, and limited to a handful of candidates relatively speaking. Anyone with economics in mind when it comes to racehorse ownership, and knowing the remarkable quality of its graduates coming out of the sale (think Igugu and Hollywoodboulevard for 2011,) must surely have his sights on the first Sunday in November.

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NATIONAL YEARLING SALE 2011 IN PERSPECTIVE

National Yearling Sale 2011
National Yearling Sale 2011

National Yearling Sale 2011

(Photo : Heather Morkel)

“For Major Sales, 2011 The Best Year Ever”

Karel Miedema Sporting Post
Karel Miedema Sporting Post

Karel Miedema

Sporting PostThe Cape Premiere Yearling Sale took many of the best yearlings away from the National Yearling Sale. To keep the numbers up, some 200 yearlings who normally wouldn’t have made the grade appeared in the National sale catalogue. No wonder the numbers at Nationals were down on previous years. Yet when put in proper context, the major sales of 2011 make it the best year South Africa has ever had. Ever!

At Nationals last year, 490 yearlings averaged R326k, with a median of 225k. At Nationals this year, 472 yearlings averaged R244k, with a median of 150k. It’s wrong, though, to make a straight comparison. As much as a third of the 2011 catalogue was made up of yearlings who didn’t belong at Nationals. Buyers took note and bid accordingly.

So how do we sensibly assess 2011, compared to previous years?

One way is to take the 214 yearlings sold at the Cape Premier Sale, and add the highest prices from the National Sale to get to a comparable number of yearlings sold to that of Nationals in 2010. Another way is to lump the Cape Premier Sale and National Sale together, and then from the top-price down pick a number of yearlings comparable to those sold at Nationals in 2010. Either way 2011 beats 2010 hands down. Both scenarios give an average price over R380k, compared to R326k last year. The median prices for the two scenarios are 260k and 275k - well above the 225k recorded last year.

When split by sex it’s much the same. The colts of 2011 average over R400k (vs 373 in 2010), with a median of 275k and 300k (vs 250k in 2010). The fillies average is 340k (vs 267k in 2010), with a median of 250k for both scenarios (vs 200k in 2010).

Percentage-wise those are increases of 15% and more in all cases. Looking back in time, the previous ‘best’ year for Nationals was 2008, with an average of R398k and a median of 260k - both below our double-handed 2011 scenarios.

No doubt the unqualified success of the Cape Premier Yearling Sale deserves the kudus. But overall speaking there’s every reason to be pleased with what has been achieved in 2011 at our two major sales.

The tables below shows the last 2 years of sales and a list of yearling millionaires, how they’re bred, who bought and who sold.

NATIONAL YEARLING SALE 2011

In Perspective

Scenario

Yearlings

Average (ZAR)

Median

National Yearling Sale 2010

490

326,000

225,000

National Yearling Sale 2011

472

244,000

150,000

All Cape Premiere Yearling Sale 2011 and All National Yearling Sale 2011

686

296,000

200,000

All Cape Premiere Yearling Sale 2011 and Top National Yearling Sale 2011

488

380,000

260,000

Top of all Cape Premiere Yearling Sale 2011 and National Yearling Sale 2011

479

387,000

275,000

Colts

Yearlings

Average (ZAR)

Median

National Yearling Sale 2010

273

373,000

250,000

National Yearling Sale 2011

258

262,000

175,000

All Cape Premiere Yearling Sale 2011 and All National Yearling Sale 2011

397

323,000

200,000

All Cape Premiere Yearling Sale 2011 and Top National Yearling Sale 2011

295

405,000

275,000

Top of all Cape Premiere Yearling Sale 2011 and National Yearling Sale 2011

287

414,000

300,000

Fillies

Yearlings

Average (ZAR)

Median

National Yearling Sale 2010

217

267,000

200,000

National Yearling Sale 2011

214

221,000

150,000

All Cape Premiere Yearling Sale 2011 and All National Yearling Sale 2011

289

258,000

175,000

All Cape Premiere Yearling Sale 2011 and Top National Yearling Sale 2011

193

343,000

250,000

Top of all Cape Premiere Yearling Sale 2011 and National Yearling Sale 2011

192

246,000

250,000

NATIONAL YEARLING SALE 2011

Lots R1 Million Plus 

Price (ZAR)

Lot

Sex

Sire

Dam

Damsire

Buyer

Vendor

3,200,000

196

Filly

Jet Master

Jalberry

Jallad

OA Ferraris Racing

Varsfontein Stud (Agent)

3,000,000

352

Colt

Jet Master

Promisefrommyheart

Elliodor

A Papageorgiou

Varsfontein Stud

2,100,000

217

Colt

Trippi

La Patoneur

Badger Land

Mike Bass Racing

Klawervlei Stud

2,000,000

421

Filly

Giant’s Causeway

Skyline Drive View

Distant View

Mayfair Speculators

Summerhill Sales

1,700,000

189

Colt

Jet Master

Island Squaw

Al Mufti

Form Bloodstock

The Alchemy

1,600,000

244

Filly

Nayef

Letsimpress

General Monash

Blandford / Mrs R Beck

Drakenstein Stud

1,400,000

304

Colt

Silvano

National Vixen

National Assembly

Form Bloodstock

Riverton Stud

1,350,000

151

Filly

Fort Wood

Gypsy Queen

Royal Chalice

Varsfontein Stud

Rathmor Stud

1,250,000

316

Colt

Giant’s Causeway

Nuance

Rainbow Quest

Good-Hope Racing

Wilgerbosdrift

1,200,000

599

Colt

Jet Master

Bushra

Badger Land

John Freeman

Varsfontein Stud

1,100,000

578

Colt

Silvano

Badger’s Gift

Badger Land

Mike Bass Racing

Riverwold Stud

1,000,000

546

Colt

Western Winter

Akinfeet

Fort Wood

Form Bloodstock

Lammerskraal Stud

1,000,000

268

Colt

Jet Master

Majestic Guest

Northern Guest

Park Bloodstock

Klipdrift Stud (Agent)

1,000,000

234

Colt

Jet Master

Larapinta

Al Mufti

Rainbow Beach Trading

Ascot Stud

1,000,000

221

Colt

Jet Master

Lady Caroloty

Southern Halo

Knut Haug

Highdown Stud

1,000,000

176

Colt

Tiger Ridge

Ilha Da Vitoria

Candy Stripes

Form Bloodstock

Wilgerbosdrift

Extract from Sporting Post

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2011 NATIONAL YEARLING SALE : DAY 3

Derreck David and Blue Ridge Mountain
Derreck David and Blue Ridge Mountain

Derreck David with Lot 421 Blue Ridge Mountain

(Photo : Heather Morkel)

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

The final day of the 2011 Emperors Palace National Yearling Sale started well when the Summerhill Sales-consigned lot 421, Blue Ridge Mountain, was knocked down for R2 million to Markus Jooste. The beautiful chestnut is by champion US sire, Giant’s Causeway, out of a Distant View mare, and hails from the same family as last year’s Cartier Champion 2-year-old filly, Misty For Me.

The Sale closed on a high when lot 599, the penultimate lot on sale, was knocked for R1.2 million to John Freeman. The chestnut colt, consigned by Varsfontein Stud, is named True Master. A son of Jet Master, he is out of G3 winner Bushra.

Overall, the sale posted an aggregate of R115,310,000. Of the 600 yearlings catalogued, 557 went through the ring, and just 65 failed to find homes.

The sale’s average price was R244,301, down slightly from last year’s average of R324,557. No fewer than 16 yearlings made R1 million plus. The top priced yearling to sell was Heart’s Content, lot 196. The filly, consigned by Varsfontein, is by champion sire Jet Master out of the stakes winning mare, Jalberry.

Varsfontein Stud enjoyed a fantastic sale, and ended up as the leading vendors by aggregate. Their 17 lots to sell made R7.055 million, and averaged R415,000.

Leading vendor, by average, was Varsfontein Stud (As Agent), they sold seven yearlings for an average price of R706,429.

Form Bloodstock were the most prolific buyers, and purchased 20 yearlings for an aggregate of R10.2 million.

Champion sire, Jet Master, enjoyed a truly phenomenal sale. The great horse sold 35 of his 37 yearlings on offer, for an aggregate of R21,325,000, making him the leading stallion by aggregate. He averaged R609,286, which made him the leading sire by average, with five or more sold.

TBA’s CEO, Jan Naude, was resigned about the sale, “These prices are a realistic reflection of the economy. There was plenty of good money for the top horses, but the middle market struggled.”

Extract from Bloodstock South Africa

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2011 NATIONAL YEARLING SALE : DAY 2

Andrew Papageorgiou
Andrew Papageorgiou

Andrew Papageorgiou with Mick Goss at Block A, TBA Sales Complex

(Photo : Heather Morkel)

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

After a slowish start, trade picked up briskly on the second day of the 2011 Emperors Palace National Yearling Sale. The second day grossed an aggregate of R74 265 000, a very satisfactory result considering the economic situation.

Day two averaged R260 579, with 285 of the 332 lots offered selling. Just 47 lots failed to make their reserve.

The second day was topped by lot 352, a Jet Master colt consigned by Varsfontein, which sold for R3 000 000 to Andrew Papageorgiou. The handsome bay, named Master Of My Fate, was produced by champion racemare Promisefrommyheart. Not only is the colt a half-brother to recent Listed winner Justthewayyouare, this is also the family of recent G1 Majorca Stakes winner Covenant and last year’s G2 Breeders Cup Juvenile Turf winner Pluck.

Remarkably, Varsfontein have consigned the top two lots to sell at the sale, to date.

Auctioneer, Steve Davis, was impressed with overall results, saying, “I thought the results have been remarkable, considering the effect on the sale from the Cape Premier Yearling Sale. There has been good support for the good horses, and they sold accordingly.”

TBA’s CEO Jan Naude pointed out the exceptional clearance, “It is exceptional in the circumstances, that 86% of the horses have been sold. I am very pleased with that.”

The final day of the sale begins today at 10 am.

Extract from Bloodstock South Africa

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2011 NATIONAL YEARLING SALE : DAY 1

Mike Bass, Alec Laird and Archie Watson
Mike Bass, Alec Laird and Archie Watson

Mike Bass, Alec Laird and Archie Watson at Block A, TBA Sales Complex

(Photo : Heather Morkel)

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

After enduring a rough start, trade picked up briskly on day one of the Emperors Palace National Yearling Sale. The aggregate for day one of the three day sale was R47 065 000, and 183 of the 221 horses to pass through the sales ring on Friday sold. The average price, on day one, was R257 186, and eight yearlings sold for R1 million plus.

There were 29 withdrawals.

Day one was topped by lot 196. A daughter of Jet Master, the filly (named Heart’s Content) was consigned by Varsfontein Stud. She was out of the stakes winner Jalberry, and was purchased by Form Bloodstock for R3.2 million.

Champion sire Jet Master had a great day on day one of the sale. He had four yearlings sell for R1 million plus, and his popularity continues to soar with buyers and vendors alike.

Top priced colt on day one was lot 217. A magnificent specimen, the Trippi colt was consigned by Klawervlei. Knocked down to Mike Bass for R2.1 million, the colt, named Paterfamilias, is out of the six time winner, La Patoneur.

TBA’s CEO, Jan Naude, said after the evening’s session, “Whilst the sale started slowly, things started picking up nicely towards the end of the evening. However, it still remains a buyers market, and there are horses for everyone on sale.”

The sale continues today at 17:00.

Extract from Bloodstock South Africa

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TBA SALES COMPLEX, GOSFORTH PARK, THIS WEEKEND.

TBA Sales Complex, Gosforth Park, South Africa
TBA Sales Complex, Gosforth Park, South Africa

TBA Sales Complex, Gosforth Park, South Africa

(Photo : Heather Morkel)

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

Mike Moon
Mike Moon

Mike Moon

The TimesIf you want to see very rich people splurging shedloads of money on luxury goods, head east of Joburg this weekend.

We’re not talking about the East Rand Mall on Saturday arvie, but something rather more rarefied.

Wallet-enhanced individuals will gather to raise their hands in willing and sacramental forfeiture of millions and millions of bucks. In return, they get a smelly horse or two. More important, they get a dream.

It’s a dream of glory, a dream of these horses carrying colours to victory, with the adulation and envy of multitudes raining like manna upon the clever clogs what bought ‘em. There by Germiston.

That’s where the Emperors Palace National Yearling Sale starts this afternoon.

No one knows how market winds will blow at the country’s premier thoroughbred sale.

Racehorse sales in South Africa have done comparatively well in the teeth of the recession gale of recent years. This is partly due to overseas interest in South African-bred horses because of their international successes. And there’s been the strong rand, and other factors.

But it’s feared that this year’s sale will be down.

One concern is that the new Cape Yearling Sale earlier in the year drew considerable fire from the local racing industry’s buying arsenal.

The Cape sale averaged R404,000 a horse, whereas last year’s Germiston sale had a R324,500 mean.

Of course, a drop in prices is good for buyers - aka racehorse owners. And I hear it being said that vendors - aka thoroughbred breeders - have been in clover for years and must now just grin and bear it.

One thing is certain: mega money will still be spent. These are theoretically the best 600 yearlings in the country - hand-picked for looks and pedigree.

Will the sale record of R4million for a yearling be broken? Will we match the 22 lots of R1million-plus achieved in 2010?

South Africa’s big spenders - such as Markus Jooste, Hassan Adams and Marsh Shirtliff - will rub shoulders with Barry Irwin, of America’s Team Valor, and advisors to the Arab sheiks. None of them come for East Rand scenery.

But the real stars of the show won’t be there at all.

Stallions and broodmares, on whose reputations fortunes are spent, stay in a rural idyll far from the machine-gun patter of auctioneers and the cauldron of excited bidding.

Topping the bill is champion sire Jet Master, with 44 foals catalogued.

But his supremacy is challenged by the likes of Trippi, reckoned to be the most valuable stallion in South Africa now because of recent stellar performances of his progeny in the US, where he stood as a sire before being snapped up by the Western Cape’s Drakenstein Stud.

The sale is at the TBA sales complex at Gosforth Park. Today, 250 lots will be sold from 1pm. Tomorrow’s shorter session starts at 5pm, and Sunday’s extended one at 10am.

Extract from The Times

For more information visit

www.tba.co.za

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FEELING THE HEAT AT THE NATIONAL YEARLING SALE

Emperors Palace National Yearling Sale TBA South Africa
Emperors Palace National Yearling Sale TBA South Africa

National Yearling Sale 2011

(Photo : Summerhill Stud)

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

(From the Emperors Palace National Yearling Sale…) The usual tepid mood that engulfs breeders when the sale grounds are quiet, has been heightened this year by concerns as to how much of the annual spend had been taken up by the Cape Premier Yearling Sale.

But if the traffic yesterday was anything to go by, the temperature’s definitely moving in the right direction.

Among the industry’s legends seen thus far in the vicinity of Summerhill’s Block “A”, we’ve had sightings of Form Bloodstock’s Jehan Malherbe and Charles Faull, new “bloodstocker” Eamonn Cullen, Chris and Johnno Snaith, John Freeman, the boys from Alexander Racing, Sean Tarry, Dean Kannemeyer, Gavin van Zyl, John Koster and Grant Knowles from Klawervlei, Mary Slack, Ormond Ferraris, Gavin Hunter, John Kramer, Vaughan Marshall, Mark Tarry, David and Yoshi Allen from the UK, the “Menere” Spies and last evening’s revellers, Mike Bass, Joey Ramsden and Alec Laird.

Mike de Kock has issued an early warning to stock the fridge for today, while England’s Tom Goff had fellow Etonian, Archie Watson, out scouting for him under cover of darkness. Germany’s Rupert Plersch touches down tomorrow, while French bloodstock agents, Xavier and Nathalie Bozo, together with their daughter Valentine, will be arriving on the weekend. We’ve even had calls from as far afield as the Democratic Republic of Congo. All good reasons to pick up the chins. And SWEET SONETTE’S famous win over one-time world champion sprinter, SACRED KINGDOM on Friday in Hong Kong won’t have done any harm either.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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THE NATIONAL YEARLING SALE : BLOCK A

Summerhill Stud National Yearling Sale 2011
Summerhill Stud National Yearling Sale 2011

Click above to watch a Summerhill documentary for the 2011 National Yearling Sale…

(An iKind Media Production)

EMPERORS PALACE

NATIONAL YEARLING SALE

15 - 17 April 2011

If they’re carrying this brand,

you know you’re in business.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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STREET SENSE ON FIRE

Street Sense
Street Sense

Street Sense

(Photo : Darley Stud) 

STREET SENSE (USA)

Street Cry (Ire) - Bedazzle (USA)

The two most popular young stallions at the Inglis Easter Sale in Sydney, were Street Sense and Bernardini, according to Inglis Managing Director, Mark Webster. Yesterday, a colt from the first crop of Street Sense, the only horse in American history to complete the Breeders Cup Juvenile/Kentucky Derby double, topped the second session at $320,000 (R2,24million). At the other end of the world, at the Keeneland Breeze Up Sale in Kentucky, two of his first Northern Hemisphere-bred juveniles set the cinders alight with bullet gallops before an expectant crowd. At 9,45 seconds, a filly (Lot 150) and a colt (Lot 147), were the joint fastest on the day, and can be expected to wind up among the sale toppers.

We’ve banged on a bit about it, but once more for good measure. The only son of Street Sense to be offered in South Africa is Lot 552, in the Summerhill draft at the Emperors Palace National Yearling Sale 15 - 17 April, a colt with a striking resemblance to his accomplished father.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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BUFFALO BILL ON TRIPPI

Trippi
Trippi

Trippi

(Photo : Drakenstein Stud)

TRIPPI

“Top Three on the North American Sires List”

There’s a lot of talk in South African racing circles, about a new definition for the “Big Five”, the stallion Big Five that is. But when it comes to international commentators on the stallion business, the King of the Beasts is undoubtedly Bill Oppenheim, erstwhile American now living in Scotland. When Bill writes about you, you better know you’re in the vicinity of the big time, and this morning, he penned this piece on Gaynor Rupert’s first season sire, Trippi, whose exploits have occupied these spaces many times in the past. Bill wrote thus in the Thoroughbred Daily News :

South Africa’s Drakenstein Stud acquired Trippi (End Sweep) in the summer of 2008, and his first South African yearlings, foals of 2009 in the Southern Hemisphere, are selling now. He was already doing well when his first representatives came up at  the new Cape Town sale at the end of January, when 21 yearlings by Trippi averaged around $79,000 (R490,000). Right after that, his Gourmet Dinner ran second in the G3 Holy Bull, but Trippi’s Grade 2 double at Gulfstream last weekend propelled him into the top three on the North American general sire lists for the year. Travellin Man won the G2 Swale on the Florida Derby undercard on Sunday, but the real championship performance might have been the filly R. Heat Lightning’s win in the G2 Gulfstream Park Oaks, in which she ran a Beyer fig of 100 - already good enough to win the G1 Kentucky Oaks in most years. This followed on from her win in the G2 Davona Dale, in which she ran a Beyer 98; these figures are actually higher than most of the top 3-year-old colts that are running right now, by the way.

What’s really striking about R. Heat Lightning’s figures is that she was very consistent as a two-year-old, winning the G1 Spinaway (Beyer 76), and running second in the G1 Frizette (78) and G1 Breeders’ Cup Juvenile Fillies (82), but the times were slow and the figs were low. Now, all of a sudden, this filly has improved by 16 points since November, and sustained that improvement in her second and third starts at three. I’ll be betting on her in her next start. Trippi has 20 more yearlings catalogued in South Africa’s traditional number one yearling sale, near Johannesburg, in a couple of weeks time. He should still be very hot.”

Summerhill consigns two Trippis to the Emperors Palace National Yearling Sale, 15 - 17 April, (Lots 8 and 141).

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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SERENDIPITY. WITH A CAPITAL "S"

National Yearling Sale South Africa
National Yearling Sale South Africa

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

BLOCK “A”

There’s no doubt about it, IGUGU is one of the best fillies we’ve seen in modern times. Not far behind, HOLLYWOODBOULEVARD is one of her few vanquishers. They have much in common. Both are by celebrated international sires. Both came to Summerhill as foals, and know the secret to our six consecutive Breeders’ titles. And both came courtesy of Summerhill Sales.

This year’s no different.

LOT 421

Daughter of two-time American Champion Sire and 2011 log leader,

Giant’s Causeway

.

LOT 552

First crop son of

Street Sense

, the only horse in history to win the

Breeders’ Cup Juvenile (Gr1) and the Kentucky Derby (Gr1).

LOTS 19 and 553

Son and daughter of

Rock Of Gibraltar

. Sire of sires

Eagle Mountain

,

Mount Nelson

and

Seventh Rock

, Gr1 winners

Varenar

,

Diamondrella

,

Gibraltar Blue

, as well as

Perana

.

LOT 160

The only Darley-bred son of

Elusive Quality

, sire of champions

Raven’s Pass

,

Smarty Jones

,

Quality Road

and

Sepoy

.

If they’re carrying this brand,

you know you’re in business.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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STREET SENSE, ROCK OF GIBRALTAR AND GIANT'S CAUSEWAY!

The Italian Job by Street Sense Lot 552 National Yearling Sale
The Italian Job by Street Sense Lot 552 National Yearling Sale

Lot 552 The Italian Job (AUS) (Street Sense (USA) - Albanella (GER))

(Photo : Leigh Willson)

“YOU DON’T HAVE TO GO TO SYDNEY…”

The Sydney Easter Sales got underway yesterday, and there was measured optimism among vendors, with reports of record viewing numbers among potential customers. These are good signs for the global thoroughbred industry, and some long overdue recognition of the merit of Southern Hemisphere breeding enterprises.

Top price was $1million for a Redoute’s Choice filly, while the $249,000 (R1,743,000) average (12,8% up on 2010) and the $200,000 median (25% up) breathed encouragement that at last, things Down Under, are now On Top. At these numbers though, you’d be happy to remain a South African shopper!

We wrote earlier in the week of the outstanding Darley-bred son of Elusive Quality, who is part of our draft for the Emperors Palace National Yearling Sale in Johannesburg, and his physical similarity to the rage of Australian racing right now, Sepoy. That colt’s not alone in our draft though, among horses sired by international icons of the stallion world.

One is an exceptional daughter of the American Champion sire of the past two seasons, Giant’s Causeway, the horse they used to call the “Iron Horse”, and whose achievements at stud are matched only by the fanfare that greeted him when he arrived at Coolmore for his initial stud season. His runners have been applauded across the world, and it’s some compliment to the draft that such a beautifully bred animal should be loading this morning for Block “A” at the TBA’s sales complex. The Champion sire of America, did we say? Yes sir, the Champion sire.

The best racing son of the only stallion to have earned sires’ championships in both hemispheres, Danehill, is undoubtedly Rock Of Gibraltar, and he’s been just about as successful a stallion, as he was a racehorse. In this country alone, he’s been represented by the standouts Seventh Rock (now a stallion at Klawervlei,) Gibraltar Blue and Perana, while he already has several other sons at stud in Mike de Kock’s international Group One winner, Eagle Mountain, and the pride of the Jacobs family’s Newsells Park, Mount Nelson. We go to Joburg with two beautifully bred, high class specimens by the “The Rock”, one colt and one filly.

Finally, though you might’ve thought those enough to close off a complement of this sort, we have something unique this year. There is only one racehorse in history to have completed the Breeders Cup Juvenile (Gr.1) and Kentucky Derby (Gr.1) double, the most prestigious two and three year old races respectively on the continent of America. His name is Street Sense, son of one of the world’s top stallions, Street Cry. My goodness, did he win those two races, and by the proverbial “street”. His first crop are yearlings now, and we have a colt so close in resemblance to his father, it’s uncanny. He’s a big, athletic individual with a grand walk on him and importantly, like Sepoy and the Elusive Quality colt, he carries the “D” for Darley tattoo on his left forearm.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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SCHOOL SHOULDN'T BE TAKEN THIS SERIOUSLY

National Sale Yearling March 2011
National Sale Yearling March 2011

Click above to view a few photos of our National Sales Yearlings at rest and play…

(Photos : Leigh Willson)

EMPERORS PALACE NATIONAL YEARLING SALE

15 - 17 April 2011

Time was, when our yearlings left for the National Sales, that the entire complement of pupils from our farm school, would gather at the loading ramps alongside the Trading Store, to serenade the youngsters off to racing glory. It was a moving throng partly aimed at willing our racehorses to greatness, but just as much to settle their nerves before their maiden journey on a vehicle. In those days yearlings were wild and woolly, unaccustomed to the ways of man, and very little habituated to the stress of a motorized journey. So the school kids, their mothers and some of the elders, would dance them away as the float crawled off the premises, snaking its way down past the Madondo paddocks, and up the quarantine incline to the junction with the Giant’s Castle road, Johannesburg-bound.

These days, the horses are temperamentally different, the lessons of the past having taught us to work with them from the day they were born, instilling in them a sense of trust in their handlers, and a more comfortable acceptance of their environment. Loading is more of a formality nowadays, and there’s very little incident between here and the sales yards in Germiston. Though traditions die hard around here, it seems that education in the modern world takes precedence over important things like racing greatness, and it’s difficult, nay impossible, to persuade a headmaster in the new scheme of things, to allow his pupils a morning off to attend such a ritual. What’s become of the “university of life”, or the ways of this little farm school which has produced a mayor of our district, two junior international athletes and the second best traditional dance troupe in the world, in recent years.

But that doesn’t diminish the poignancy attached to the departure of the prides and joys of the farm. Some of them will be bought by people who have long-standing relationships with us, others by customers who believe it best for young horses to return to the place of their upbringings. Some will come back after the sales for their early racecourse education, but the bulk of them will go elsewhere, and very few will ever return. So whilst there’s great expectation about their futures, there’s also a feeling of sombre loss, and the knowledge that the next time we see these fellows, it will probably be on TV.

Looking at this lot, (and we know you’ll say we’re biased because they’re our children), they’re up there with the very best to leave this historic old place. We’ll say no more; come and see us at Block A, and you be the judge.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

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STRONGHOLD FIRST CROP : 2011 NATIONAL YEARLING SALE

Stronghold National Yearling Sale 2011
Stronghold National Yearling Sale 2011

Click above to watch Stronghold - The Summerhill Brand

(Photo and Footage : Summerhill Stud)

EMPERORS PALACE

NATIONAL YEARLING SALE

15 - 17 April 2011

If they’re carrying this brand,

you know you’re in business.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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OF SEPOY, ELUSIVE QUALITY AND THE NATIONAL SALES

Lot 160 Utshani by Elusive Quality National Yearling Sale
Lot 160 Utshani by Elusive Quality National Yearling Sale

Lot 160 Utshani (AUS) (Elusive Quality (USA) - Heather (AUS))

(Photo : Leigh Willson)

“RIGHT PLACE RIGHT TIME”

The timing of the outcome of Australia’s Golden Slipper (Gr1), the world’s richest two year old race, could not have been better for Summerhill. You might ask how we’re connected, but let’s not detract from the command performance of a horse Australians have come to believe is their best juvenile in decades. The official margin of two lengths hardly does justice to Sepoy’s dominance, and while he may have benefited from the defection of his only vanquisher, Smart Missile, the manner of his victory suggests the result would’ve been the same, whoever was in the line-up.

A big, eye-catching specimen, Sepoy is the point of perfection the thoroughbred has reached after 300 years of meticulous selection, and he runs like he knows it. Bred and owned by Sheikh Mohammed’s Darley Stud, you might expect this young man to carry the bloodlines of a prince, and he does. The fact that he is the son of a mare by the horse Australians consider immortal, Danehill, is enough to suggest that right now, even if he was buyable as the property of a mere mortal, his value would be of the order of $40 to $50 million, enough to buy up our own entire valley, and have change in your pocket. Sepoy now heads for Randwick’s Sires’ Produce Stakes (Gr1) over 1400m, and on Saturday’s evidence, the extra furlong shouldn’t bother him.

Why the interest from Summerhill? If you’ve studied the Emperors Palace National Yearling Sales catalogue, you’ll know we have the only Darley-bred son of Elusive Quality in the catalogue, and like Sepoy, he carries those immaculate bloodlines. Those that know him already, will tell you, he’s some kind of specimen, too. You have a week and some change, to muster the dough!

Editors note :

Blogwatchers will have noticed that our regular “blogger,” Michael Nefdt, had the “Slipper” video posted on the site by Saturday afternoon, despite the nine hour time difference between Mooi River and Sydney. Well done, Michael. You have few equals.

summerhill stud, south africa
summerhill stud, south africa

For more information please visit :

www.summerhill.co.za

kerry jack
kerry jack

Kerry Jack

+27 (0) 82 782 7297

tarryn liebenberg
tarryn liebenberg

Tarryn Liebenberg

+27 (0) 83 787 1982

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TRIPPI, TRIPPI AND TRIPPI

R Heat Lightning by Trippi wins the Gulfstream Oaks
R Heat Lightning by Trippi wins the Gulfstream Oaks

Click above to watch R Heat Lightning winning the Gulfstream Oaks (Gr2)

(Photo : ESPN - Footage : Gulfstream Park Racing)

“RAMPANT IS AS RAMPANT DOES”

Drakenstein Stud’s grand looking stallion, Trippi, can do no wrong right now. A top three United States’ stallion as the log read, going into the weekend, his daughter, R Heat Lightning surged to an 8¼ length victory in Saturday’s Gulfstream Oaks (Gr2), a move which took her sire to the Number One slot, and which could well have her at the top of the boards for America’s most prestigious race for sophomore fillies, the Kentucky Oaks (Gr1), scheduled for Friday, 6th May. Courtesy of the efforts of Summerhill client, Team Valor, there are some among us who’ll be in attendance for what could be a piece of South African history in the making. We’ll keep you posted on the Oaks and the following day’s Kentucky Derby, as the day dawns.

But that’s not the epilogue. When he’s hot, Trippi is very hot. As if the Gulfstream Oaks wasn’t enough, Sunday witnessed another Gr2 stunner from his son, Travellin Man in the US$150,000 Swale Stakes who was sent off at 2-5 in a five-horse field, and ran to his odds. If there’s a commodity in demand at the National Yearling Sales (15 - 17 April), it’ll be Trippi, Trippi and Trippi.

For more information, please visit :

www.tba.co.za

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