'The opportunity to earn significant returns makes for a robust industry'

Katherine Sheridan joined Tattersalls this year as online sales executive, having been brought up with a racing background and subsequently working at the likes of Magic Millions, though branching out to also qualify and work as a lawyer in the United States. Here, she takes our questions.

Tell us your backstory - where you were raised and any work/career you had pre-bloodstock…

I was raised in Blackwater, County Clare, near Limerick. My father was an equine vet and was passionate about racing. He trained a small number of National Hunt horses and we spent most weekends racing, at a point-to-point or hunting in north Tipperary.

I studied Law and European Studies at the University of Limerick and later qualified as a lawyer in New York, where I worked in civil litigation for a brief time. Had I been able to secure a long-term visa to continue working there, it is very likely I would have remained in that profession.

And in terms of your past experiences of working in racing/bloodstock, what does that comprise?

My first job in racing was working for Ciaran O’Brien, where I rode out and assisted on racedays. After moving to Australia in 2012, I secured a role with Magic Millions. With my legal background, a position as credit controller was a fitting combination of my experience at the time. This was an opportunity that I relished. I gained invaluable experience and built many relationships within the industry while working there.

Sheridan had worked at Magic Millions as a as credit controllerCredit: Dave Goudie / Eagle Image / Magic Millions

I later took up a position as manager of operations, client relations and marketing at Newhaven Park Stud in New South Wales. I spent four years in that role, where I was involved in many varied aspects of running a commercial breeding and racing operation. I returned to the northern hemisphere 12 months ago and commenced the role of online sales executive with Tattersalls in April.

If you could identify one thing the southern hemisphere industry does better than the northern, and vice-versa, what would they be and why?

A major strength in the southern hemisphere would be the prize-money on offer, certainly in Australia. The opportunity to earn significant returns makes for a robust industry. The large number of syndicators are constantly attracting new owners and it creates a strong level of demand. This benefits the industry in the northern hemisphere as there is demand for European horses. Australians accounted for more than 100 horses purchased at Tattersalls sales this year and I think the online sales could assist in continuing to grow this market even further.

I think there is arguably greater diversity among the types of racehorses bred in the northern hemisphere. There is a large focus on breeding fast, two-year-old types in Australia. Horses from the northern hemisphere perform successfully at the highest levels of racing in the southern hemisphere.

A significant number of horses are purchased from Europe to race there each year and we frequently see horses travelling to run in the major racing carnivals there. This heightens the competition and assists in creating a global industry, helping to ensure the longevity of the sport. We also have a much stronger jumps racing industry here, which brings another exciting dimension to racing in the northern hemisphere.

Online sales have quickly become an established part of the landscape; how have you found the half-dozen Tattersalls have hosted since you joined?

Online auctions have firmly cemented their position on the global stage of horse sales in recent years. We have witnessed extensive growth in the online sector and I think they will continue to hold an established position for the future.

My first sale in this position was the May Online Sale, where we had 15 entries. We sold 14 lots and turned over 165,900gns. We concluded the December Online Sale having had 83 entries and a turnover of 638,600gns, and a total turnover of 2.4 million gns for the year. It is encouraging that the platform is being embraced and we anticipate these numbers will continue to grow next year.

Confidence in Tattersalls Online has certainly grown. We now hold a sale each month, giving vendors and buyers the ability to trade more frequently without the necessity of travelling to a sale, which makes it quite cost-effective. We are attracting new vendors and buyers with each sale and witnessing high retention among those using Tattersalls Online by seeing them return to the platform each month.

There’s a January online sale pencilled in; can you tell us what else 2023 has in store?

The January Online Sale will take place on January 18-19 and we have set dates for each month in 2023. After a positive finish to 2022, we intend to continue to grow participation in the online sales next year. We plan to attract new clients to each sale and to deliver a premium product for online thoroughbred trading.

We are constantly looking at ways to improve the processes involved and this will remain a top priority. We will continue to grow confidence in Tattersalls Online and would hope to be the first choice when selling online in Europe.

What different challenges are there in terms of putting an online sale together, as opposed to a physical auction?

For many people that are selling online, it is their first experience selling this way so they are not always aware of what needs to be done before the sale takes place. There is a quick turnaround for health and veterinary requirements, and we need to ensure that vendors have submitted the right documentation and supplied their media prior to the sale.

Baaeed: superstar a personal favourite of Katherine SheridanCredit: Edward Whitaker

People are still getting familiar with the process and we try to assist them in that as much as possible. Stressing the importance of good quality photos and videos is a crucial aspect to successfully selling online. To assist with this, we offer a service to vendors where we arrange for professional photos and videos to be done as part of the entry, and this has become a great resource for vendors.

Do you have a favourite sire or racehorse, past or present?

Because of my personal connection with Newhaven Park, it has been fantastic to see their resident stallion Xtravagant enjoying success with his progeny in recent years in Australia. I think he is capable of producing a very good horse.

I loved watching Baaeed racing this year. Despite not getting the win on his swansong, I think he was an exceptional racehorse.

You could have had any Christmas present you wanted, and one wish for 2023 - what are your choices?

I think a holiday in the sun would have made for a nice Christmas present following on from the chill of recent weeks, while my wish for next year would be to get back riding out and potentially compete in a charity race in the UK or Ireland.

This month's other Q&As

'I always look to find an angle, particularly at the horses in training sales'

'I must have sold each lot at least ten times in my sitting room'