A consortium of major breeders initiated a bold new idea – to conduct a unique yearling auction inside the Cape Town International Convention Centre in January 2011 to capture the attention of an international clientele.
This move was welcomed as a major step up from the status quo. The inaugural sale held in the Cape before the J&B Met was a trial run from which many valuable lessons were learnt – both in our own approach to the event and by those that managed it. The marketing of the event both locally and overseas was a triumph for the South African industry. The spin-offs are incalculable
From the success arising from the successful inaugural event, the rights to the venue to conduct the 2012 Sale were secured.
The consortium acquired a company, Cazador Investments and Trading Pty Ltd (“Cazador”). Cazador is not controlled by a single individual – its shares are held by a reputable firm of attorneys in a Trust.
The core philosophy of Cazador is to utilize a modern, innovative, commercially driven enterprise to grow the bloodstock market and thereby better racing and breeding in South Africa.
Lest the consortium be viewed as avaricious, a central principle was adopted from the world’s best sales company, Keeneland Association – that is, for the consortium not to take one cent of profit for itself, but rather, to expend such profits as may be yielded for the benefit of the racing and breeding industry generally.
The second central principle was to provide a service to breeders: To fund, at own risk, guaranteed payment to vendors at 30 days after the sale. Given the current state of collections of vendors proceeds, and the damage late payment does to the ability of breeders to fund their businesses, acquire new mares and stallions to improve their stock, this gesture is an incredible one which places Cazador in the ‘best practice’ category of leading international sales companies.
A written business plan was presented some time ago to the TBA for consideration, and over an extended period of time various discussions followed whilst having the utmost regard for protection and betterment of the breeding industry in mind. Owing to legal and other issues, the outcome of these discussions was that the TBA concluded that its relationship with Cazador had to be at arm’s length. This outcome was accepted. Cazador is committed to foster, promote and encourage the breeding and genetic improvement of thoroughbred horses in South Africa. It plans to do so by energizing the commercial sector of the sales market.
The operational task team (headed, as previously, by Robin Bruss) is similar to last year and entry forms are presently being prepared for distribution to breeders. The focus will be to strive to enhance the quality of the catalogue. It is a Sale open to all breeders – as previously stated, nett profits will be applied to improve racing and breeding in our country. In this way it is trusted that the image of our locally bred thoroughbreds will be promoted across the globe!
