Cape Racing’s Sales Division has announced dates for the two remaining auction sales to be held in 2024.
The Cape Racing Winter Yearling Sale will take place on Friday, 31 May, and the 2024 renewal of the Ready To Run and Two-Year-Old Unbroken Sale is scheduled for Sunday, 27 October.
Both sales will be hosted at Hollywoodbets Kenilworth.
As previously noted, the Cape Premier Yearling Sale powered by Tattersalls will be held at the Cape Town International Convention Centre (CTICC) on Thursday, 25 January 2024.
Following its venture into the auction space in the latter part of 2022, Cape Racing has made a conspicuous impression on the selective thoroughbred bloodstock buyer’s market, not least through the excellent sets of results from the three auctions held under its auspices.
Last weekend’s renewal of the Ready To Run and Two-Year-Old Unbroken sale at Hollywoodbets Durbanville was a case in point. It produced substantially improved figures, backed by a buoyant and diverse bench of buyers.
The Sporting Post assessed this week: “The Cape Racing Sales team saw that the introduction of their various attractive incentives and initiatives in the ensuing year, coupled with the inspiring local ‘Racing Renaissance,’ provided the momentum for a next-level step-up…”
A comparison with recent BSA Sales shows that the Cape Premier Sale averaged a marginally higher Premier Sale average (R443,812) than the National Yearling Sale average (R442,672) posted upcountry by Bloodstock SA.
Both had a median of R300,000.
The impressive median of R165,000 recorded at the Ready To Run Sale was higher than those recorded at four other BSA Sales held between November 2022 and August 2023.
The CRS Bonus Incentive pays R100,000 for the first juvenile win of any race, including open maiden races won by juveniles, and represents a return of R4 million in cash bonuses to sales clients over 40 races.
Also introduced this year was the ground-breaking “pin hooking” initiative. The initiative allowed buyers to purchase stock at the June yearling sale while only having to pay when selling at the Ready To Run in October.
The impact of this incentive was evident in last June’s Cape Winter Sale, when the yearling average was bolstered as pin-hookers bought several yearlings.
The figures in comparison with other regional sales, illustrate the viability of the Cape as a cheaper selling location with exceptional returns.
The CRS bonus initiative applies to graduates of the 2024 January, May, and October sales.
The Pinhook programme will remain in place again for the May yearling sale.