Significant Gains Made at Record Goffs November Sale

A record renewal of the Goffs November Breeding Stock Sale drew to a close Nov. 22 with returns for the week showing significant gains on 2018, including a 25% rise in turnover, 24% increase in average, and 21% rise in median, while the sale set an all-time highest price for a weanling colt of €1.2 million Wednesday.

Friday's final session featured Part 2 of both the breeding stock and foal sales and saw good demand for the better lots on offer. The mares were topped by group 1 producer Lidanski (Lot 1130) from Ballylinch Stud. The dam of Prix de l'Abbaye (G1) winner Wizz Kid and in foal to Fascinating Rock, Lidanski was purchased by Tullogher House Stud for €32,000 (US$35,389).

The Part 2 foal trade was headed by a son of Dandy Man (Lot 1183) from Ballintry Stud whose winning 2-year-old full brother has been stakes-placed twice this year. The colt was knocked down to Jamie B Bloodstock for €35,000 ($38,707).

Looking back on the five days of the November Sale, Goffs group chief executive Henry Beeby said:

"Goffs November Sale has a rich history, and the 2019 renewal is one that only adds to the story in a largely positive way. Our Part 1 Foal Sale set records in every area, headed by the world's highest-priced foal of the year so far at €1.2 million. He headed a trade of true strength and depth that reflected the quality of the foals entrusted to us by so many leading breeders who continue to send a bigger share of their best to Goffs.

"Indeed, our Day 3 sale was a superb representation of the cream of the 2019 foal crop with the very best of Irish foals joined by some notable U.K.-bred youngsters leading to an average of just short of €100,000 and a whole sale median of €30,000. The quality of the catalog allowed us to make significant advances at every level as we welcomed a wide cross section of pinhookers and end-users to Kildare Paddocks.

"The Breeding Stock Sale also recorded significant gains as an international audience battled it out for lot after lot on Day 1 (Thursday), and that trend continued through to this morning, when a 71% clearance rate was returned. This is a sale with a tremendous track record on the racecourse, and we have no doubt this year's graduates will be responsible for their share of top-class performers.

"Of course, we would like more as we had several overseas buyers with unfilled orders, so our task next year will be to attract a larger catalog of quality to meet demand as our feedback is that our international visitors love their trips to Ireland and to Goffs as they see quality and value at every level.

"While the week is a statistical success and the headlines are very positive, it would be naive of us not to recognize the ongoing challenges facing breeders. We have seen a relentless hunger for the best of the best at Goffs, which underlines the enduring appeal of the best Irish-bred bloodstock across the globe. However, the trends that became clearer at the yearling sales meant that the foal market was increasingly selective for those that the pinhooking fraternity have doubts about for the 2020 sales.

"The polarization of the market only appears to be increasing, and the double whammy of Brexit uncertainty and poor U.K. prize money is making the market tougher for the commercial breeder and trader. As an auction house, we will continue to work tirelessly to deliver the most vibrant marketplace possible at all levels, and a look back at our Autumn Yearling Sale was testament to the hard work of our international network of agents and Irish Thoroughbred Marketing, as reliance on the domestic market would have led to a very different result. However, along with a satisfaction of a good week overall, we will reflect on how we can further improve the market at every level in 2020.

"For now, we extend our thanks to every vendor, as we really are nothing without their horses, and our appreciation and best wishes to each purchaser as both groups have confirmed the Goffs November Sale's market-leading status once again."

Overall, both foal sessions of 2019 brought an aggregate of €26,402,300 ($29,236,504), up 24% from last year, with a 25% rise in average at €41,975 ($46,481). The €22,000 ($24,313) median was up 10% over 2018. This year's mare sessions achieved a gross of €8,022,900 ($8,882,801), up 28% over last year. The overall sale realized an 80% turnover with 873 sold of 1,097 offered.