Smith is upbeat about sales results

Smith is upbeat about sales results

January 17, 2020 / 9 months ago

Smith is upbeat about sales results cover image

While the figures from the 2020 Cape Premier Yearling Sale were down on figures posted in recent years, there were some silver linings giving hope for the future. Five passed the magic million mark and the top lot fetched R3-million. 

“Considering the economic climate, both macro and micro, we came into the sale with limited expectations,” said Wéhann Smith, chief executive officer of Cape Thoroughbred Sales. “But all said and done, it’s still a significant amount of money (sales totaled R56,490,000) and we still see a R3-million colt and a R2.2-million colt and two fillies over R1 million in trying times as positive. 

“The most positive thing of all, as I went through the buyers’ list, is that there’s certainly new money and certainly new international money so internationals are faster to seize the opportunities than us locals, with exports opening up soon.” 

A “first” for the sale is that a South African-bred yearling has been bought specifically for the Australian market and will be travelling to that country (after a stop in both Mauritius and the UK) to race. All That Jazz, bred by Avontuur Thoroughbred Farm, and is a filly by Trippi out of former champion South African sprinter Val De Ra was sold Ric Wylie, who is a New Zealand-based agent for R1.65-million. 

Smith added that going back to a two-day sale was not on any agenda. “No, as long as we’re under 250 lots we will certainly continue to complete the sale in one day.” 

There were some new sires on the sale but Smith was not unhappy how they sold. “In terms of sire power, we’ve also got to accept that we are in a transition phase. There are no Captain Als anymore, there were very few Dynastys on the sale and Silvano is 20 something so does not have a full book of mares. Trippi is 20 something with fertility issues. 

“So we are now relying on the Gimmethegreenlights, Queraris and what A Winters – the next generation – to step up and take over those names and I don’t think our markets are at the point, as it showed today, that people are willing to pay the really big numbers for those sires.” 

At this sale 232 lots were catalogued, after withdrawals 216 were offered and 173 were sold. The aggregate was R56,490,000, the average R326,531 and the median R250,000. 

Last year’s figures were 226 catalogued, 216 offered, 192 sold, aggregate R83,560,000, average R435,208 and median R300,000.  – Jack Milner/TAB News.