Patience Pays Off for HTBA Sale-Topping Capitalist Colt

Syndicator Darby Racing foreshadowed it would be a major player at Inglis' HTBA Yearling Sale and the principals of the business delivered, going to AU$280,000 (US$187,373, AU$0.6691= US$1) for a son of Capitalist at the April 23 Sydney auction.

The HTBA sale-topper, making his second time through an Inglis ring this year, was a supplementary entry and was cataloged as Lot 300, but kept numerous interested parties at Inglis' Riverside Stables complex until the end in an attempt to take him home.

While not surpassing the price tag of an AU$300,000 Extreme Choice filly sold at last year's sale, the Kingstar Farm-consigned colt lived up to the top billing expected of him pre-sale.

Colts by Deep Field (AU$135,000) and Supido (AU$100,000) and a filly by Justify   (AU$100,000) also sold for six figures Sunday, while a further 17 sold for AU$50,000 or more in the one-day, 300-Lot sale which averaged AU$21,254 ($14,223) at a median of AU$12,500 ($8,364) and achieved a turnover of almost AU$4.4 million ($2,944,436). The clearance rate closed at 77%.

At the Inglis Classic sale in February, where Darby Racing was noticeably quiet, purchasing just three yearlings, Scott Darby indicated he and Mark Holland planned to target the old Scone sale to bolster its syndication numbers.

The timing of Sunday's sale was also important for Darby Racing, which had Malkovich take out the Hawkesbury Gold Rush Stakes a week after Overpass won the inaugural AU$4 million The Quokka in Perth.

"We've had a good couple of weeks and he was the stand-out colt obviously on pedigree and type," Darby said.

"He's an A1 physical, athletic, just quality, and really stood out here. He'll likely be trained by Gai Waterhouse and Adrian Bott.

"You know you get those horses that when they come out and stand, they just go bang, that was this colt, he had great balance."

He is the third foal out of Princess Joy Joy, who is a blood-sister to Criterion  and a half sister to stakes winners Upon This Rock, Gaze On, and Bhutane Dane , while this season's Ottawa Stakes (G3) winner Charm Stone is also from the same family.

Agent Mathew Becker and Melbourne-based Lloyd Kennewell, who is about to enter a training partnership with Lucy Yeomans, were underbidders on the Capitalist colt. 

The HTBA sale has been a happy hunting ground for Darby Racing, who have purchased stakes winners Time For War and Look To The Stars and city winners True  Crime—who contested Saturday's Hawkesbury Guineas (G3)—Crazy Train, Mr Tickets, Star Sensation, and the Bjorn Baker-trained Wingardium, a 3-year-old filly who is close to resuming.

Kingstar Farm's Adam Cook is optimistic that Darby Racing has another high-class horse on their hands with the purchase of the Capitalist colt, who went through the Inglis Premier Yearling Sale in March and was knocked down to Hong Kong trainer Ricky Yiu for AU$260,000. That sale did not proceed.

"Lot 300 was well worth the wait and a great way to finish a solid day's trade," Cook said. 

"Darby have had great success from this sale and they've found another cracking colt here."

Darby signed for six yearlings for a total of AU$464,000, while Paul Perry also signed for six as did Australian Bloodstock, two of which were in partnership. Victorian trainer Kane Harris was the sale's biggest buyer, taking home seven yearlings for a spend of AU$212,000.

Inglis Bloodstock chief executive Sebastian Hutch acknowledged the year-on-year downturn, but he was also pleased with the engagement of buyers, such as interstate trainers Mick Price and Luke Oliver, Simon Miller, and Jim Taylor, who participated in the market alongside a cohort of Sydney and New South Wales country owners and trainers. 

"At a time when demand in the market is subdued relative to the past couple of years, the results today were really very pleasing in the context of that market," Hutch told ANZ Bloodstock News.

"Any horse that buyers perceived to be of real quality sold really well, but there's no doubt there are some challenges in the lower end of the market. 

"It is something we're aware of—our digital platform, for example, has already sold 173 yearlings online so far this year—and supply in that value end of the market is high and the people who have demand in that part of the market have ample opportunity to buy beyond sales like today."