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Monday, September 11, 2006

Yearling Madness

- Brad totalled up the lunacy at Day 1 of the Wal Mart of yearling sales, and the results showing the dominance of Dubai is certainly no surprise. The Maktoums spent $29.7 million on 16 yearlings, a total bordering on obscene. On the other hand, Coolmore had a pretty quiet day, for them. Yes, they were the underbidder on the session-topping $8.2 million Storm Cat colt, as well on as the runner-up $5.7 million Mr Greeley colt, also purchased by the Sheik. But they ended up far down the list with four purchases at an average of "only" $631,250. Maybe they're on a budget after The Green Monkey, (and I haven't gotten a single workout report on him since his "minor" setback at Saratoga). Perhaps they're merely driving up the prices that their arch-rivals end up paying.

Sheik Mohammed's agent John Ferguson said that the sales-topping Storm Cat colt is "one of the best Storm Cat's Sheikh Mohammed has ever seen and you add that to the fact he is out of a young group I winning mare and that becomes a very exciting prospect." Awesome Humor (Awesome Again) won three graded stakes as a two-year old, including the Grade 1 Spinaway.

Ferguson also came away with a $3 million half-brother to Pulpit, by Storm Cat.

The Maktoums are hoping that their expensive purchase will fare better than recent sales toppers. The last six Keeneland September sale-toppers sold for a combined $37 million but have earned slightly more than $505,000 on the track to date. [Lexington Herald Reader]


Anonymous said...

"Perhaps they're merely driving up the prices that their arch-rivals end up paying."

Rumor has it that Coolmore already owned the Mr. Greeley colt that sold for an absurd price to Sheikh Mo.

With Jess Jackson, now McIngvale and the ClassicStar fiasco, I get the feeling that the Bloodstock industry is in for a major price correction. Green Monkey's and their like have skewed the averages and many people in the know agree that these are not "real" prices being paid for these horses.

Whether its deals between buyers and sellers or just smart people taking advantage of a very wealthy Sheikh, the fact is that a correction is due. I think the $3 million Storm Cat half to Pulpit is a logical risk to take, but $5.7 million for a Mr. Greely with no page? Come on.

Alan Mann said...

Steve, that's an interesting rumor about the Mr. Greeley colt. Tell us more! :)

Mr. Greeley's yearlings averaged just under $200,000 last year; and you take this one away, the average this year is around $275,000.

This ClassicStar fiasco has the makings of an ABC miniseries. The Bloodhorse story talks of them substituting mares used to herd livestock for thoroughbreds.