ALMOST 1,000 flat-bred yearlings will come on the market at Goffs this week in what will be the acid test for the health of Ireland’s bloodstock sector.

Last week a total of 872 thoroughbreds were offered for sale at Tattersalls Ireland and they produced a clearance rate of 71%. The median price was down 14% for Part 1 and down 33% for Part 2.

However, following double-digit declines at some earlier European yearling sales, relief was the dominant emotion expressed by vendors last week, and there is cautious optimism that the market will hold up reasonably well at Goffs this week

Bloodstock agent Michael Donohoe of BBA Ireland said: “I know trade was tough on Thursday but I thought the first two days were very strong. In fairness to Tattersalls and Irish Thoroughbred Marketing, I never saw as many foreign buyers there before. It’s obvious to me that they want to come to Ireland to buy horses because of the extra expense involved in buying in Britain since Brexit.”

Donohue attributes the lower clearance rate to overproduction. “Too many mares are being covered and some stallion owners are partly responsible for that too,” he said. “Having said that I was surprised how little some horses were selling for on Thursday.”

A prominent breeze-up consignor who asked not to be named agreed that there was too much supply at the lower end of the market. “I bought a few horses very cheaply [at Tattersalls Ireland] and their breeders are losing money. They shouldn’t cover those mares again.

“It costs me €10,000 to turn a yearling into a breeze-up horse, so I have to be selective. The cost base has gone so high. The breeze-up bar is being raised all the time and it is pushing the small breeders out.”

Orby viewing

Viewing began in earnest at Goffs on Saturday ahead of the four-day Orby Sale which starts on Tuesday with the two-day Book 1 catalogue.

Preceding the Orby Sale was Saturday's Goffs Million and Goffs 500, two races confined to graduates of last year’s sale and offering €1.5 million in prize money.

Goffs CEO Henry Beeby said: “We’re expecting a good number of US clients, a significant presence from the Middle East and buyers from across Europe for the sale.

“We’re pleased with the recruitment drive and of course the catalogue has had favourable reviews – we have a very good bunch of horses. Finding nearby hotel rooms for buyers is one of our biggest problems.”

Goffs have trimmed both Orby catalogues this year. Beeby said: “Book 1 is down from 540 to 516 and Book 2 is reduced from 500 to 480. We turned away applications for two reasons. We could see how the market was heading from last year and both buyers and vendors have told us they want to finish at reasonable times.”

Graduates of last year’s Orby Sale were eligible to win one of 10 €50,000 bonuses attached to selected Irish maidens. This scheme is being doubled for 2025 with a further 10 maidens in Britain offering the €50,000 bonus.

Italian resurgence

One agent who will be at Goffs with orders is Marco Bozzi. The Italian was very active at Tattersalls Ireland last week, as were many of his compatriots.

“Can we call it ‘The Sale of the Italians’?,” joked Bozzi. “I missed the 2023 September Yearling Sale but the four horses I bought there in 2022 were very successful, and so my clients wanted to come back.”

Bozzi confirmed that Italian racing is enjoying something of a resurgence. “The Government has a new department looking after racing and prize money is being paid sooner than before, though you may still have to wait three months. Also the sport is flourishing in Sicily. Syracuse racetrack is hosting a special fixture this weekend to mark the G7 Ministerial meeting on Agriculture and Fisheries and there will be some Irish visitors there.