HOT on the heels of some largely vibrant yearling sales on these shores, a notice released this week from the Hong Kong Jockey Club served as a timely reminder of just how highly valued Irish bloodstock can be.

The powerful Asian racing authority published a list of 11 horses who have just been transferred to the jurisdiction from multiple European racing nations - the majority of which hailed from Ireland. One of the Irish transfers was an unraced two-year-old by Churchill but the remainder were all either maiden or conditions race winners who most likely changed hands for impressive sums after opening their account domestically.

For trainers and owners with an eye on trading their young stock, knowing there are orders from wealthy Hong Kong connections if their flat horses win or are placed in maidens can encourage spending at the yearling sales in a bid to cash in once reaching the track.

Jolt, an extremely well-bought yearling at just €16,000, is set to continue his career in Hong Kong after winning a Gowran maiden for Andy Slattery \ Caroline Norris

Maidens are already supremely competitive in Ireland, however, considering the firepower of major operators like Coolmore, as well as leading owner-breeder institutions like Juddmonte, the Aga Khan and Moyglare Stud. Quality is generally assured in these races.

What about those trying to break into the maiden market from outside the top outfits? What sort of expense can be required to make a mark in this company?

Sales spending

Through an admittedly pain-staking process, the sales history of each horse who finished first, second or third in an Irish two-year-old maiden this year (up to October 15th) was assessed in a bid to establish an average price of what these horses cost their connections before reaching the frame in a maiden.

Given private sales will always be a factor in bloodstock circles, it must be said that establishing an exact average is basically impossible. However, each horse’s most recent sale price - whether it be as a foal, yearling or two-year-old - was calculated into Euros (converted where appropriate) and an average figure delivered. This sample excluded those who failed to sell, were officially bought back by their vendors or never went through a sales ring (mainly homebreds). All in all, of the 366 two-year-olds who have won or been placed in an Irish maiden so far this year, nearly three quarters - 73% - had gone through a sales ring before their debuts. Strictly looking at winners only, 68% went to public auctions unraced.

The headline figures are a €137,212 average and €60,000 median price across all horses who finished first, second or third in Irish flat maidens to this point in 2023. As for winners only, these came in at an average of €192,283 and an identical median of €60,000.

It must be recognised that the strong averages are impacted by the presence of big-money purchases like Diego Velazquez (2,400,000gns yearling), Euphoric (1,900,000gns yearling) and Ylang Ylang (1,500,000gns yearling) - all by Frankel and all exciting juvenile winners for Aidan O’Brien this year.

Median series value

The aforementioned averages underpin just how important it is that Horse Racing Ireland continues to support its series of median sire and auction maidens. When isolating the most recent sales prices of those who have gone through the ring and finished first, second or third in these restricted maidens, the average comes down to €46,345 and median to €25,500.

These levels are much more attainable for operators outside the top tiers, with the potential still there for a maiden result that leads to a lucrative sale. Given the competitiveness of these races - and sales ring competition - it’s worth flagging up those who have struck with cheaply-bought young stock. In total, there have been 18 two-year-old maiden winners in Ireland this year who went through the ring as yearlings for €20,000 or less - excluding those listed as vendor buybacks (see table).

Jolt, who won on debut for the Slattery team at Gowran, was one of the six Irish horses listed in the Hong Kong Jockey Club’s newest arrivals, while Givemethebeatboys memorably fetched £1,100,000 at the Goffs London Sale on the eve of Royal Ascot and Ribchestina was sold privately to Team Valor. Others from that list have likely changed hands too. Photosynthesis is due to be sold before racing today at Ascot.

Credit where it’s due, Noel Meade has excelled this season with some of his flat purchases. When looking at two-year-old maiden winners who cost €30,000 or less at public auction, Meade’s five victories in this category is more than any other trainer in Ireland. Likewise, Andy Slattery has done well to strike three times in this price range.

Route to success

Looking at where the country’s maiden winners are sourced from can be worthwhile too. Some horses will have gone through multiple sales at different stages of their lives, but yearling sales have been the likeliest place to find youngsters who win or place in Irish maidens.

Of the 366 two-year-olds who have won or been placed in maidens this year, 249 (68%) went through the ring at yearling sales in 2022. There were 70 (19%) who appeared at a foal sale and 41 (11%) who went to public auction at two (mostly at breeze-up sales).

Signatory, a ready Dundalk winner for John Murphy in August, has also appeared on the list of Hong Kong Jockey Club imports this week \ Healy Racing

As for winners only, 77 of the 123 maiden winners (63%) had been seen at a yearling sale previously, 22 (18%) went through the ring as a foal and 17 (14%) appeared at public auction as two-year-olds. In both cases, there were more instances of foal or yearling sale graduates finishing in the first three in juvenile maidens than breeze-up horses or those sold unraced at two. However, the smaller percentage of the juvenile population that breezes must be factored in.

Sire power

Finally, what can be said about the sires who have made the biggest mark in Irish two-year-old maidens so far this year?

The table of sires with the most winning or placed runners in this category for 2023 reads well for Coolmore.

Sires with most top-three finishers in Irish juvenile maidens (2023)

No Nay Never 23

Starspangledbanner 13

Galileo 13

Churchill 13

Ten Sovereigns 12

Sioux Nation 11

Night Of Thunder 10

Blue Point 10

Inns Of Court 10

Strictly in terms of winners, No Nay Never’s 11 juvenile maiden successes is more than double the tally of his nearest challengers Starspangledbanner and Galileo on five apiece.

Horses who win maidens at three can still be worth tasty amounts too. Limerick winner Ethical Diamond fetched 320,000gns at the Tattersalls July Sale this year, while three-year-old maiden winners Signatory (John Murphy) and Sharlouk (Johnny Murtagh) also feature on the latest Hong Kong import listings.

With demand high for quality youngsters, trainers having the necessary financial clout to compete for the right stock at the sales can often feel as big a challenge as succeeding on the track

Big paydays are out there, and rich trading potential can only drive up the standard of maidens on these shores.