Our case rests

Events at the biggest racehorse sale in the world, Keeneland, continue to support our views on the question of high priced service fees. All we can say in addition to what Bill Oppenheim has said in his column below, is caveat emptor (buyer beware), in the case of the broodmare owner.

The horse game’s traditional slugging match between Sheikh Mohammed’s Darley operation and John Magnier’s Coolmore have not materialised, but on the first day Darley bought five of the six top colts and yesterday it was the other way round. Last year as a result of the locking of horns between the two titans, the top price was close to USD$10 million, this time it was USD$3.7 million (Coolmore), whilst Darley’s top bid has been USD$2.9 million. The “in vogue” stallions have been A P Indy (both organisations), Unbridled’s Song (Coolmore) and Distorted Humour (Darley), while Storm Cat, as is evident from Bill Oppenheim’s remarks, has been rather unfavoured by his own lofty standards.

Extract from TDN 12.09.07
From the desk of Bill Oppenheim

Bill OppenheimI’m standing by my comment that stud fees on the top horses are going to have to come down a notch. One of the important things we’ve learned is that not enough Book 1 horses are showing a profit right now. The facts are pretty bare. The gross was down $37.5 million or 20 percent from $182.8 million last year to $145,377,000. The average was off 24 percent from $564,383 to $431,386. Strikingly, though, the median remained exactly level with last year, at $300,000 (see comment about stud fees, above). But, as always, the facts require elucidation.

Two facts absolutely leap off the page. Fact number one: the sale was down $37.5 million in gross. Sheikh Mohammed’s (John Ferguson) spending was down more than $40 million. Last year they spent $57 million on 25 yearlings in Book 1. This year they bought 15, spending a little more than $16 million. So that’s one way of describing the drop in the sale’s figures.

Fact number two is that five of Coolmore’s (D.L. O’Byrne) 11 purchases were by two of the top all-American sires. They bought three colts by A.P. Indy, and two—including the saletopper—by Unbridled’s Song. This surely signals their determination to remain competitive in an American market dominated by Darley’s big-money stallion purchases this year.

Finally, the Storm Cat update. Better news here. Though six of his 17 catalogued today were outs, of the 10 which sold, five did make seven-figure prices. His overall average increased to $601,400, at least above the stud fee. But, with 33 catalogued over two days, only 60 percent of those (20) were listed sales. Of those 20, six brought $1 million or more, but none of the other 14 sold for as much as the stud fee. So you had a 30 percent chance of getting $1-million plus, and a 70 percent chance of not getting your money back. Doesn’t look that good a bet.

The Blue Bloods have started to drop

Kahal (John Lewis)Our postings of the last couple of days have left our team pinching themselves in disbelief at the good luck (so far), we seem to be experiencing with the foals of the four “new” stallions. We’ve said it before, but so that no-one thinks we are taking advantage of it, it’s very unusual to have four stallions from one season all delivering quality stock, and yet, emotions aside, we’d have to say there hasn’t even been a tinge of disappointment at the first SOLSKJAER’S, WAY WEST’S, CATALOOCHEE’S AND HOBB ALWAHATAN’S.

That shouldn’t however, detract from the fact that the proven fellows have been at it well, and last week KAHAL had a formidable collection of youngsters from what we would call “heavyweight” mares.

John BartlettEveryone at the farm remembers vividly the evening of the Drill Hall Stakes in 2005, when REAL RED was just a head away from defeating the Horse of the Year, Winter Solstice, and she actually got up in the last stride to put away the J&B Met hero of that year, Alastor. This performance earned her an invitation to Dubai (which she was unfortunately unable to fulfill,) but it was a timely reminder of the competition top-class fillies with an aptitude for seven furlongs, have to face, if they are to express themselves at the highest level. Outside of the Tibouchina Stakes, there is no Group contest for fillies at the distance, so she had to take on the best colts in the country at their game, on weight-for-age terms. She gave us an exceptionally attractive, robust KAHAL colt. Partners in this mare include John and Shirley Bartlett, who live near Goodwood in the UK as well as Richard Bartlett and Geoff Player.

Stephen GillIn the very stall next door, Graded Stakes winner SELBORNE PARK (from the celebrated French family of Champion race filly Dunette, and French Glory, who lowered the colours of Horse of the Year, Nashwan in that unforgettable renewal of the Prix-Niel, one of the principal Arc trials), gave birth to an own brother to Desert Links for Sheikh Maktoum’s ex Financial Director (now CEO of Sheikh Mohammad’s Rabbah Bloodstock), Stephen Gill and his family. Whilst a slightly neater, more athletic foal at the same stage, this chap otherwise resembles his own brother, whose target for this season is the J&B Met, where he will get every help from his red-hot trainer, Basil Marcus.

Another very well related youngster, and an extremely attractive, robust-bodied foal is the half brother to REBEL KING, the undefeated Champion Juvenile of his year. This chap comes from the family of recent multiple Graded Stakes winner, Cousin John, and a stream of other top quality performers from one of Highlands Farms’ elite families. He was bred in partnership with yet another couple of English clients, Mike and Marty Meredith.

Judge Alan MagidLest we be chastised by one of our best correspondents, the final arrival in this spate of Kahals, is a half-brother to the impressive Mark Dixon-trained first-timer, PRIZE FLOWER, from the Northern Guest mare DAHLIA’S GUEST. This filly is bred on the identical cross that has been responsible for the exalted likes of Emperor Napoleon, Bold Ellinore, Evening Attire and Bhekinkhosi, and is the property of our long-time friend and customer, Judge Alan Magid.

New Foals from New Sires

SolskjaerThe 2006 breeding season started with the arrival at Summerhill of four new stallions, Solskjaer, Way West, Cataloochee and Hobb Alwahtan, and hope as you might, whatever expectations you may hold from them, it’s very seldom all four will please you with their first foals.

Way WestYet readers of this column will know of our enthusiasm for the first lot from Solskjaer and Way West, and now we can start “waxing” on the Hobb Alwahtan’s and Cataloochee’s. When Sheikh Mohammed asked us to take “Hobb” we thought he was of the order of 17hh for some reason, and our instructions to buy thirty mares for him found us looking for neat, quality types to begin with. It was only when one of our team saw him in the Sydney quarantine, that we realised he was a horse of immense quality himself, and he stood just under 16hh. This obviously necessitated a change of plan as far as the sort of mate he would need, was concerned.

Hobb AlwahtanHe’s now had his first foals from each of these types and both are extremely attractive, athletic individuals. The second one is particularly interesting, as it’s from a daughter of Hobb Alwahtan’s close relative, Fort Wood inbred to 4 x 4 to Fall Aspen. She is a leggy, somewhat narrow type, from the immediate family of the unbeaten juvenile, Graded Stakes winner this past season, Royal Vintage. The foal is well balanced, substantial and “reeks” of quality.Gorgeous!

CataloocheeWe always maintained that Cataloochee would serve as the perfect foil for the high quality Northern Dancer line mares on the property, and his first foal born at Summerhill is from a Braashee mare, giving identical breeding to the one bred by Vanessa Williams a fortnight ago. If these two are any indication of what we can expect from Cataloochee, roll on.

Climbing Rose: Not just a name, but a climber

Ashley McNab and his business partner, Milli Miliotis, are two of the most decent fellows you’d want to meet. But they’re that, and a whole lot more. Darn good customers of Summerhill, and big-hearted joe’s, if ever there were any.

Kahal (Photo John Lewis)Just a week ago, at the Summerhill Stallion Day, they topped the Charity Function with a bid of R90 000 for a KAHAL service, knowing full well that as Summerhill customers, they were guaranteed access to Kahal at almost half the money. That’s proper charity.

Yet the old saying, you s0w what you reap, is as appropriate now as it was the day it was invented, and in the past week, Ashley saw two runners from his mare, CLIMBING ROSE, come home smoking!

Sheikh HamdanNow, we’ve always thought this was a decent mare since the day she arrived, and she did that in a novel sort of way. In the early days of the Steinhoff Family Fun Day, Charlie Laird had asked us to donate a service to one of Sheikh Hamdan’s stallions as one of the prizes. In those days, there were no fancy stakes or R150 000 races as there are now. You got a Gomma Gomma lounge suite, a second hand fridge, a night at some sleazy hotel as a winner and two nights as the runner-up – you get the drift?

Climbing Rose won the service and a lounge suite, and the owners wisely chose the service (to Fahal) while Robbie Sage (the trainer) was left with the suite.

When the mare arrived at Summerhill, Sheikh Hamdan obligingly agreed to swop the Fahal for a Makaarem service, and hence MACMYMATE (follow-up winner again this weekend) came about.

The other fellow, RED AMMO, (by Russian Revival) is the second foal, and he beat a very smart sort home on just his second visit to the course. He’s decidedly talented it seems.

Well done, boys! Both owned & bred by Ashley, ably supported by Milli & trained by Robbie Sage.

The Summerhill Stallion Day

With 3 days to go … the menu is planned, the glassware & crockery has arrived, the tables and chairs are on their way and the staff are briefed. The tent goes up today - with a slight change in venue. We’re about to enjoy some of the comforts the Summerhill stallions experience!

The Summerhill Stallion Day has become a fixture on the SA Racing Calendar, and re-inventing this day has become a challenge, which everyone, but in particular, our stallion owners, have risen to. Our Zulu dancing team have become an integral part of the occasion, and during lunch this year guests will be entertained by the Jazz band of the celebrated Theo Bophela. It’s a wildly exciting time of the year with the breeding season pending. There is huge anticipation for the first progeny of the stallions introduced to our clients at the 2006 Stallion Day - Cataloochee; Hobb Alwahtan; Solskjaer and Way West.

We appreciate the effort five hundred plus guests make to trek up to Mooi River - you are so welcome.

In between the polishing, shining, sweeping and dusting, we take a day off to entertain about 60 guests in our box at Greyville racecourse. We will be hosting King Letsie III this year and are delighted to also have with us Steven Gill who is CEO of Sheikh Mohammed’s Rabah Bloodstock, Modern Day’s Fen Tarbitt and the new owner of Deep Sleep, Rob Knuppe.

Our wine sponsors…Haute CabriereOur wine sponsors this year are Haute Cabriere, whose founder, Achim von Arnim is the greatest exponent of the art of sabrage, which involves slicing the head off the champagne bottle with a saber. Guests will be welcomed to the July and Stallion Day with glasses of Pierre Jourdan champagne.

The world famous Rosebud of Portable Pantry, has prepared a memorable menu, and Takuan von Arnim has elected to serve the two wines their estate is most famed for, Pierre Jourdan Tranquille and Haute Cabriere Pinot Noir as the perfect compliment.

posted by Linda Norval