Bloodstock & Breeding
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Apropos the latest high prices at the yearling sales: can anyone nominate the last COLT sold for a million guineas/euros/dollars, racing in Europe, that turned out to be a sound investment?
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Taken from the RP live Tatts blog today....
5,000,0000gns b f Galileo - Alluring Park; sold by Lodge Park Stud to Al Shaqab Racing in 2013 AL NAAMAH; winner and G3-placed 3,600,000gns b c Galileo - Shastye; sold by Newsells Park Stud to M V Magnier in 2013 SIR ISAAC NEWTON; G3 winner 2,600,000gns b c Dubawi - Fallen For You; sold by Norris Bloodstock to John Ferguson in 2016 GLORIOUS JOURNEY; G3 winner 2,600,000gns b c Dubawi - Zee Zee Top; sold by Meon Valley Stud to Shadwell Estates in 2016 EMARAATY; winner 2,600,0000gns b c Galileo - Penang Pearl; sold by Ashbrittle Stud to M V Magnier in M V Magnier in 2014 Pietro Testa; placed 2,600,000gns b c Dubawi - Izzi Top; sold by Meon Valley Stud to Roger Varian today |
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To add to Emaraaty, Hamdan paid $1.6m for Elarqam (Frankel x Attraction) on the same day!!. Won twice at two so far including a G3 latest.
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I don't think any of the yearling COLTS mentioned THAT HAVE RACED TO 3 YEARS OLD have turned out to be worth their price. the jury is out on Emaraaty. WAS won The Oaks, but of course is a filly.
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Zygote - that is true BUT you've changed the question. At this stage I would regards Elarqam as representing a sound investment. I will give your altered question some thought!. I replied to your other post about 98% of colts too
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I do not think an assessment of whether a purchase price represented a sound investment can be made until AFTER the horse finishes racing. A colt really needs to be a good stallion prospect to repay its high price.
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The ultimate wisdom of a yearling colt purchase is only clear at the end of a possible stud career if the buyer keeps a share in the future stallion.
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I'm avoiding the question as i don't have the answers.
A few weeks ago I looked up the racing record (as far as possible) of all lots sold at a yearling sale a few years ago. Result............................................................Lots............Earnings €............Price € Made a profit before training costs...........62...........4,604,369..........1,058,200 Made a loss before training costs...........242...........1,196,896..........5,195,000 Unraced / Untraced....................................130...........................0...........1,624,300 Don't forget to deduct auctioneers fees, shipping, and training costs for one, two, or three years from the above. |
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But if you further analyse the top 62 who made a "profit" (i.e. racecourse earnings exceeded hammer price) if looks even worse.
Almost all the 400+ horses made a loss or minimal profit (before running costs) except the top 10. And one of that top 10 ran 30 times, another 26 times, to earn their corn. Profit before training (top 10) ......10 yearlings.......€3,018,866 earnings.....€408,500 auction cost |
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Just to clarify my opinion, circa 99% of millionaire colts are not worth their purchase prices at the end of their careers. By worth, I mean capable of being sold (wholly or in part) as a mid-range stallion.
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How many gelded NH stores get back more than 20% of their purchase price? Not many.
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