Trade branded ‘difficult’ as breeders and buyers fail to see eye to eye at British National Hunt Showcase

A sign of the times, perhaps, that the British National Hunt Breeders Showcase in Doncaster on Friday finished with a clearance rate of just 56 per cent. The 35 lots that changed hands did so at largely respectable prices, but it tended to be a case of all or nothing as 28 others returned home after breeders and buyers failed to see eye to eye. Twenty six of those lots were led out unsold.

The third edition of the event saw turnover drop by 19 per cent year-on-year to £749,000. The average and median prices went in the opposite direction, however, with the former up 11 per cent at £21,400 and the latter improving ten points to £16,000. 

Although the bulk of the catalogue was made up of foals, the market was led by broodmare prospect La Renommee, who fetched a bid of £70,000 from Coolmara Stables’ Cathal Mariga late in the piece. An online participant and agent Jerry McGrath filled the role of underbidders. 

The seven-year-old daughter of Doctor Dino won seven races throughout her career, including the Listed Yorkshire Silver Vase Chase while under the care of Dr Richard Newland and Jamie Insole. She was offered in foal to Shade Oak Stud’s St Leger winner Logician.

View results from the British National Hunt Breeders Showcase

“We’ll bring her back home and foal her down and see what the Logician is like, then we'll pick a sire for her for next year,” said Mariga. “We’ll send her to one of the good, proven stallions. She’s a quality racemare and has plenty of action on her. She should be easy to mate as she’s by Doctor Dino, who’s a great sire, one of the best in Europe.” 

He added: “She was definitely our pick of the sale by far. We came over looking at foals as well but when we saw her, she was the reason we stayed.”

The transaction kickstarted what promises to be a busy period for the County Cork farm, which counts the likes of Grangee, Maskada and Petite Parisienne among its National Hunt broodmare band.

“We have three Flat foals going to the December Sales in Newmarket, a nice Wootton Bassett colt and two No Nay Never fillies,” said Mariga. “Then we have 15 National Hunt foals selling in Ireland, so we’ll be kept busy over the next few weeks. There’s mainly National Hunt mares at home, there’s 30 jumps mares and four Flat and plenty of nice foals to sell, so we’re looking forward to them.” 

The trip from Youghal to Doncaster is not the first time Mariga has been on his travels this year, as he has recently returned from a nine-month stint at Coolmore’s Ashford Stud in Kentucky.

“It was a great experience,” he said. “I started out foaling mares, then moved onto the stallions and did yearling prep too, so I did a bit of everything.”

Nathaniel filly fetches 'realistic' £60,000 

The foal market was led by a well-related daughter of Nathaniel who was knocked down to Jerry McGrath at £60,000. 

The youngster is out of the dual Listed winner One Gulp, a Hernando half-sister to Grand National hero Rule The World. This makes the filly a sibling to six winners under rules, including the Grade 2-placed One For The Team and the Listed third Two Swallows. 

The filly was bred and sold by Goldford Stud. The Cheshire operation’s Charlie Aston said: “We wanted £60,000 for her and we got it. In this market you’ve got to be realistic. It would’ve been nice to get more for her but £60,000 is a good price for a foal any day. 

“She was the only one in the catalogue by Nathaniel, so she was a bit of a standout in that respect, and she was a standout individual herself, so we were always hopeful she'd make good money.” 

Aston also offered a philosophical reflection on the day’s trade, saying: “I don’t think [the challenges] are confined to the National Hunt market, it’s a reflection of the way the economy is at the moment.

The Nathaniel filly out of One Gulp sold to Jerry McGrath for £60,000Credit: Goffs

“Goffs have put on this boutique sale for British breeders, which we need and we’re fully supportive of, but it’s difficult getting Irish buyers over here when they have two big sales right on their doorstep over the next few weeks. We’re also at the start of this market and it’s a bit like a game of poker, nobody wants to make the first move. 

“We’ll know more about the foal market in a couple of months’ time, but we fully applaud Goffs’ efforts to get people here and, as we’ve seen, good ones can still make good money. We just have to stay positive, keep supporting the initiative and hope that the economy bounces back at some point.” 

McGrath was by some way the biggest buyer on the day, signing for three lots at a combined outlay of £128,000. 

After signing for the day’s most expensive foal, he said: “She wasn’t the biggest filly in the world but with a pedigree like that she has a lot of options. She's been bought for an existing owner; that was the reserve and we had to give it. It’s a good pedigree, a good family, and although she’s not the biggest she is a late foal [born April 22] so we’ll forgive that. She goes racing, and if they’re good enough they’re big enough. Hopefully she’ll be lucky.” 

Goldford topped the consignors’ table with the farm’s three lots realising £140,000. That figure included the £52,000 private transaction that saw Belleville Bloodstock secure the Walk In The Park colt out of Forever Present.

McGrath moves for 'class' daughter of Golden Horn

McGrath also struck for the early market leader when going to £50,000 for the Golden Horn filly out of Akilaya from Outhill Farm. An online player and John Bleahen were consigned to the position of also-rans. 

The dam is a sibling to six winners, including Grade 2 Finesse Juvenile Hurdle scorer Akilak. The filly’s year-older brother sold at last year’s edition of this sale, going the way of Tally-Ho Stud at £60,000. 

“The Golden Horn factor is a big thing,” said McGrath. “I didn’t quite underbid the brother last year but we loved him, and this filly has a lot of class. She’ll be resold at some stage, whether that’s as a racehorse or a store. She’s 100 per cent GBB [Great British Bonus] qualified and that’s a massive thing as well.

The £50,000 Golden Horn filly in the Doncaster ring

“She’s for a trading syndicate of people who’ve come together and want to buy a few. I’m not sure where she’ll go in the meantime but she might end up racing in France, or could come back as a store. If you’re able to buy a few, you give yourself the option of going point-to-pointing with one, one going to France and selling one as a store. Hopefully she’s lucky.” 

Reflecting on market conditions in Doncaster, McGrath said: “Given how the market is, I think this is a good time to try and pinhook. The market is where it is, we all know that, and we need to try to showcase British breeding as much as we can. I know I’m an Irishman but I’ve lived here all my life, and we all have to work together to get through this.” 

The Warwickshire-based Outhill Farm is run by Ryan and Hannah Mahon, and the latter reacted to the transaction by saying: “We’re delighted. She was bred by Willie Jenks, a long-time breeder. She’s been really popular and hasn’t missed a beat. She’s a gorgeous filly so she deserved it, but it looks like a bit of a struggle in the ring now.” 

Frisby and Pritchard Webb combine 

Jacob Pritchard Webb and Richard Frisby entered the fray when bidding £42,000 for the Walk In The Park colt out of Kalelula from Manor Farm Bloodstock. 

“I’ve bought him for Richard Frisby,” said Pritchard Webb. “We’ve been working together for a couple of years now, mostly stuff in France, but we’ve had some good success earlier this year. Our first horses were selling, and they all basically doubled their money. We liked him, he’s a real bonny horse and the sire can do no wrong. Hopefully he can be as successful as this year’s stores in three years’ time.” 

Pritchard Webb also shared thoughts on trade, saying: “You have to have every box ticked; within that, you have to have the resale box ticked as well. I think it’s becoming harder and harder for sellers to do that. 

“I don’t envy those people who’ve put their money where their mouth is because this game isn’t easy. It’s good to have people like the Frisbys, who’ll throw their hat in the ring and give things a go. They’ve had some great touches this year and struggled with other pinhooks, but that’s the same for everyone and we all need a bit of luck. Hopefully this colt will be lucky.” 

Kent reflects on day of up and downs

Goffs UK’s managing director Tim Kent noted the “selective” and “strict” nature of market conditions in his end-of-sale statement, saying: “Today held the third edition of the British National Hunt Breeders Showcase and as in each year since its inception in 2023, the sale once again drew plenty of interest with a sizeable buying bench featuring leading buyers from throughout Britain, France and Ireland.

“Despite increases in the average and median for the foals on last year’s sale and achieving £70,000 for the mare La Renommee, trade for the category remains selective. The Goffs team have been very proactive in attracting purchasers and we delivered a healthy turnout of potential buyers but, as shown today, that does not guarantee blockbuster results for all. As evidenced across the market, those who impressed stood out and sold very well, but those who did not meet the market’s strict requirements found proceedings difficult.

“It’s too early to draw any firm conclusions, and we will watch with interest over the coming weeks before working with vendors to paint an accurate picture about the events of today and how best to address the challenges going forward. Meanwhile, we look forward to returning to Newbury on Saturday 29 November for the third renewal of the Coral Gold Cup Sale, which promises to be an enthralling end to a fantastic two days of National Hunt Racing.”

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