Hoppel to Test Fasig-Tipton Gulfstream Market

For horsemen like Patrick Hoppel based in the Ocala, Fla., area, it's tempting to only sell your horses at the Ocala Breeders' Sales, which has a year-round range of opportunities for consignors.

But when the Fasig-Tipton selected 2-year-olds in training sale gets underway at Gulfstream Park March 28, Hoppel's Horse and Cattle Co. will be among those shipping their stock, tack, and personnel some 300 miles to the venue near Miami.

"It's pretty easy just to go across town (to sell at OBS), so I wanted to try something a little different—to get out of my comfort zone," said Hoppel, who has been buying and selling horses for 30 years. "I thought it might be nice to have some horses that would work in a select group. In a smaller group of horses, maybe you can really shine. You can fall through the cracks for one reason or another at a lot of those bigger sales."

With two juveniles cataloged at Fasig-Tipton, Hoppel is going into the second major 2-year-olds in training sale on a roll, with all three horses he offered at the OBS March sale selling for a phenomenal 275% return on investment. Topping Hoppel's pinhooks was Hip 479, a Real Solution  colt that was purchased for $32,000 and sold to trainer Mark Casse for $675,000, producing a profit (after expenses and original purchase price) of $589,250. As a group, Hoppel's OBS trio that were bought for an average price of $57,333 were sold for an average of $305,000.

Hoppel's horses not only excel in the sales ring but also on the track. The two priciest juveniles sold by Hoppel last year—Analyze It and Paved—are stakes winners. Paved, a Quality Road  filly bought as a yearling for $130,000 and sold at OBS March for $320,000, won the El Camino Real Derby last month. Analyze It, a Point of Entry  colt acquired for $130,000 and sold for $190,000, won the Cecil B. DeMille Stakes (G3T) at Del Mar.

Located on about 200 acres near Anthony, Fla., Hoppel's Horse and Cattle is a family operation that keeps its horse population consisting of about 15-20 being prepped for sales and about 40-45 others being trained for clients.

"It's a no-frills operation, but it works for us," Hoppel said. "We have a five-eighths mile track, and a filtered horse swimming pool. All three of my sons are in the horse business, but (son) Cody works directly with us and does the hands-on horse training while I kind of oversee it."

While inflation and competition have spiked yearling prices to pre-recession levels, Hoppel said he shows restraint when shopping for potential pinhook prospects.

"Naturally, you have to give a little more, but we never really changed our plan from the time we started," he said. "We don't pay a lot for the horses, and that's what's worked best for us. There is a zone we stay in. Will buy 15 to 20 a year. It's hard to target a number of horses and try to get there. You better get what you can and hope you buy them in the right price range."

Hoppel said it's no surprise the 2-year-olds in training sales are also riding a wave of success, particularly with the large number of horses bought as yearlings that are being re-sold.

"There are a lot of good horsemen in Marion County (Ocala) who could make a good living no matter where they went in the horse business," Hoppel said. "We're proving to them (2-year-old buyers) we're buying good horses, and if you want them, you will come here and shop and hopefully buy from us. In the long run, it's worth it (to buy a 2-year-old at a premium) rather than buying five or six yearlings to get one that works. In the pinhooking business, for every good one there is one that didn't become what you expected. The better ones have a lot of weight to carry."

While pleased with his own results at OBS, the first time in recent years that the 2-year-old sale season began with a broader group offered at a non-select sale, Hoppel said the market was polarized.

"There was an extreme upper end, but beneath that it really fell away," he said, adding there is likely to be a broader buying base at the OBS April sale, for which more than 1,200 horses have been cataloged. "As a group, we didn't get a lot of horses sold like I thought we would (at OBS March). I would like to see the top and bottom meld together a little bit more in the middle. A lot of the middle-market buyers I usually see at the April were not there in March."

But, for now, Hoppel will try his luck in the selected market in Miami, for which 166 head are entered in the regular and supplemental catalog.

Hoppel's two Gulfstream sale entries are:

• Hip 18, an Uncle Mo —Perfect Heist (by Half Ours ) filly, produced from a half sister to multiple grade 3 winner Conveyance , who won four of six starts in the U.S. before being sent to the United Arab Emirates, where he was grade 3-placed. The filly was purchased for $62,000 from Hidden Brook, agent, at the 2017 Fasig-Tipton October yearling sale.
• Hip 93, a filly by Violence —Citron Lady (by Lemon Drop Kid ), from the female family of grade 1 winner Her Smile. The filly was acquired for $100,000 from the Oxmoor Sales consignment to the 2017 Keeneland September yearling sale.

The Fasig-Tipton Gulfstream sale held in the track's walking ring begins at 3 p.m. March 28, with the under tack training preview taking place March 26, starting at 9 a.m.