Open for business: Tom Malone still managing to trade amid turmoil

Racing and public auctions across Europe might have ground to a halt due to the coronavirus pandemic, but bloodstock agent Tom Malone has still managed to do a spot of business on a private basis.

Most notably the former jockey, whose previous purchases include One For Arthur, Native River and Envoi Allen, has bought smart German stayer Ladykiller for an undisclosed sum.

The chestnut son of Kamsin and Group 3-winning miler Lady Jacamira will now go into training with David Pipe.

Ladykiller, trained by Andreas Wöhler for Gestüt Hachtsee, scored in the Group 3 Silbernes Pferd over 15 furlongs at Hoppegarten last October and won on his four-year-old bow over 12 and a half furlongs at Dortmund in January.

"He’s going to Bryan Drew and Caroline Tisdall in partnership – they’ve had many good horses like Un Temps Pour Tout, Moon Racer and Vieux Lion Rouge,” says Malone.

“Bryan was very keen to support Dave [Pipe] given he just had his best season in five years, even though it was cut short, and his stable is flying again.

“The big key to getting the horse sold was that I had him in my own yard first. I had him schooling this week and I was able to send videos of him showing that he can jump – and he jumps like I buck, I tell you."

Malone reports that Ladykiller could still have the odd Flat assignment.

“In the thick of the winter I could see him being a proper soft ground two-miler to begin with, but he should get anywhere between two and three miles eventually," he says. "He had the class to win over a mile on soft ground and the stamina to win over a mile and seven at Group level.

“But I’m sure he’ll also be getting entries in races like the Cesarewitch this year, and he’s the sort who could be running and performing well in those. But he’s been bought mainly to go jumping."

Malone acknowledges that it was a brave move buying a horse on spec amid lockdown and with the market expected to take a hit.

“Of course it was, but I always think it's best to keep kicking on and I'd rather have stock to sell than have nothing in hand,” he says. “I've purchased a few horses like that and have another one here to trade on who won a bumper just before racing was put on hold.”

Malone has also completed a few deals on four-year-old Irish point-to-pointers who are unraced due to the season being shortened by Covid-19 restrictions.

“I'd already seen them in January and they were fancied to do their job but didn't get the chance to run,” he explains. “What with not being able to travel in lockdown now, that trip around the point-to-point yards has come in handy and given me a big advantage, as I have video footage and pictures to show clients. I've been able to get a few deals done from nothing.”

Generally, though, Malone has found that the usually roaring trade in point-to-pointers has fallen dormant, with vendors unwilling to let go of potentially high-value horses at reduced prices.

“The trouble with buying unraced pointers at the moment is that the trainers don't want to take a simple price, they still want way in excess of six figures for a horse who hasn't run based on reputation and home work,” he says.

“Now, those vendors might end up accepting half of those possible values come November if the horses race and aren't what they were cracked up to be. But my feeling is they would rather take the chance of putting them out to grass now and try to get a big price for them later, than release them for half what they might get.”

Not that Malone has a wealth of owners ready to put up the money for prospective jumps stars amid so much economic uncertainty, anyway. Moreover, the nature of buying on spec means only so much of a trader's own money can be tied up in horses they hope to find end users for in future.

“Most clients have stopped buying now,” says the agent. “The problem is share prices have dropped by 35 to 40 per cent and its the dividends that many owners often use to play with. That's gone.

“Also, a lot of people who run businesses don't want to be seen buying horses when they've had to furlough staff or make cutbacks. Usually at this time of year I'd be doing 20 private deals a month but I'm more or less down to zero.”

Malone is not complaining, though. Indeed, he is counting his blessings.

“The main thing is we're alive and healthy, so I'll take that and be patient,” he says. “A lot of people are suffering far, far worse.

“The lockdown has shown that we take so much for granted. We used to jump in the car and go for a meal if we felt like it, but that's all gone. It'll be nice to go racing again and to just get back to enjoying and talking about the sport.

“But as I say, I appreciate those are all first-world problems at the moment.”

Read our Life in Lockdown Q&As with industry figures

Claire Goodwillie: 'People have realised if you're not online you're invisible'

Tina Rau: 'I'm enjoying post-dinner quarantinis with friends over video call'

Daniel Creighton: 'The market will recover – the only question is when'

Ed Player: 'We're happy to move with the times and embrace online trading'

Patrick Sells: 'Chasemore Farm is effectively operating in a bubble'

Chad Schumer: 'Racing in the US being cancelled is the biggest frustration'

Tom Blain: 'Trade will be down but all we can do is roll with the punches'

Ted Voute: 'We'll need to strengthen the way we showcase young stock'

Simon Kerins: 'We'll embrace any format that will help get horses sold'

Barry Lynch: 'The industry has often bounced back as quickly as it dipped'