In the aftermath of the CTS April Yearling Sale there is little question that the South African thoroughbred sales industry is going through a phase of major correction and adjustment on all fronts.
But we all knew that!
Innovation and experimentation is the name of the game in tough times and the trial of Cape Thoroughbred Sales having combined the CTS March and Emperors Palace Select Sale into what was effectively another regional sale, just ten days prior to Nationals, was a calculated move that may well need a review before the sales calendar programming is rostered for 2019.
“I’m waiting for Joburg” was the phrase often uttered ahead of “I’ll have another” at the admittedly well attended sale at the country course on Thursday and Friday, which was characterised by typical CTS five-star hospitality, but a serious lack of cash and genuine buyers. And, as acknowledged by some breeders, an overall absence of genuine depth in the broad catalogue.
While we are clearly feeling the knock-on effects of the vacuum left by Markus Jooste, and to a lesser extent the competitive edge provided by the late Adriaan van Vuuren, the real impact on breeders across the board that were possibly never even supported by either of those big buyers in the very recent ‘good old days’, is the minor ‘flooding’ of the market over the past four months of the Mayfair Speculators horses.
Large numbers of unraced 2yo’s and a host of raced – and in many cases proven horses – have been put together by the former Mayfair trainers as they battled to balance the books in the aftermath of the fallout from the Steinhoff saga.
This has surely drained the cash reserves – not everybody’s got unlimited buckets of the green stuff – and has meant a possible reallocation of spend for many prospective buyers.
Add to this the notable absence of some other major players, possibly still stung and reeling from South African horseracing’s darkest December in memory, and there has probably never been a more appropriate time for a joining of hands and renewed flexibility in terms of providing much-needed relief for hard-pressed breeders, as that group reflect and possibly reconsider the numbers and the way they run their own businesses.
With three distinct sessions, the CTS April Yearling Sale stats have been published below.
The top lot overall was #47,a Silvano colt which went to Vaughan Marshall for R700 000.
The top filly was #23, a well-related Captain Al daughter, who was bought by Itlaag Pty Ltd for R525 000.