Cape Thoroughbred Sales, reportedly in talks with major competitor Bloodstock South Africa over a potential amalgamation deal, are continuing to innovate and preparations are well advanced for their forthcoming sales. An annual buying card is one of the new facilities to be offered.
In a communication to Vendors today and in what represents a commendably positive response to the unrelated and largely unforseen sponsor initiated move of the J&B Met to the first Saturday of February, CTS CEO Robin Bruss has suggested that the Cape Premier Yearling Sale Book 1 will now have all attention focussed on it as it is no longer in the Met build-up week, but a week earlier.
Bruss undertook to provide the necessary hospitality and entertainment to ensure a world-class sales and social experience for visitors.
The CPYS Book 1 will be held for the third time at the Cape Town International Convention Centre from 24-25th January 2013. This year Book 1 grossed R107m, with an average of R407 000 and a median of R300 000.
Bruss has said that CTS would be inviting foreign owners, trainers and agents and making a substantial effort to increase the size and scope of the market. Bruss admitted that in the first sale run by CTS last year, a very tough credit policy was adopted with a view to ensuring that agents and trainers did their homework prior to the sale.
This was an effort to ensure full payment within 21 days and vendor payment in 30 days. He said that a level of success was attained with this approach, but at a cost, as the policy constricted speculative buying by trainers and this mostly affected demand for first season and unproven sires.
Bruss said that CTS policy had ‘matured’ and confirmed that they would be providing annual buying cards to buyers, ensuring pre-approved credit, and this he felt would provide greater confidence and shore up all segments of the market. He added that advertising and marketing would be extensive and would focus on local and foreign participation.
Vendors will be guaranteed payment at 30 days after sale and Bruss urged them to get their entries in expeditiously and said the selection process would be the same as in the past, using the services of John Kramer and international guest, Tom Thornbury of Keeneland.
The Cape Premier Yearling Sale Book 2 will be held at its new home at the Durbanville Sales Centre on Saturday 23rd & Sunday 24th March 2013. Earlier this year the Book 2 Sale was held only a month after Book 1 and they have extended the gap to two months later in order to accommodate later maturing yearlings. The date is a non-racing weekend in Cape Town and there are no stakes races on that weekend anywhere in South Africa.
Bruss assured Vendors that CTS would make a substantial effort to encourage owners and trainers from all over South Africa to attend. He commented that the 2012 average of R83,000 and top price of R400,000 was a satisfactory beginning and he said that this sale yielded outstanding quality at very reasonable prices and would prove to be a highly successful fountainhead of high class winners.
In line with the last sale, Vendors would be paid at 30 days, but Buyers would be granted a 60 day credit facility in order to stimulate the market.
CTS also host the Cape Ready To Run Sale, which is to be held on 14 December 2012 at Durbanville. Graduates of this sale will qualify for a R2 million rand race to be run at Kenilworth. Vendors are guaranteed the Christmas bonus of payment by 24 December.
Bruss said that the proposed new Mauritius Sale was presently under review and he would have more news once the investigative team had returned from Mauritius. He said that prospective vendors were invited in the meanwhile to nominate potential Mauritius Sale Entries on the CPYS1 form. He indicated that horses would then be selected for Mauritius on an invitational basis.