TESTING times at the breeze-up sales have had a knock-on effect on trade at the yearling sales, as breeze-up operations tighten the purse strings. The general consensus among them is that they are focussing on quality rather than quantity, with better pedigrees key to being accepted into the desired sales next spring, while poor conformation will always limit resale value.

Hopes of ticking all the boxes make Book 2 a popular source for breeze-up horses, and one operation who reaped the rewards last year was Eddie Linehan’s Lackendarra Stables. It was there that Linehan bought dual group winner Hotazhell from Blue Diamond Stud for 70,000gns, and resold the Too Darn Hot colt six months later at the venue’s Craven Breeze-Up Sale for 200,000gns.

“He was the second most expensive yearling we’ve ever bought to breeze,” Linehan recalled ahead of a return trip to Park Paddocks. “The dam had produced two highly-rated horses and we just thought he was a nice colt. We were keen on the sire, too.”

While 200,000gns marked a fine return on Linehan’s investment, the horse’s impressive homework made it a disappointing result for the team, Linehan explained. “We were hoping he’d make more, to be honest, but it just didn’t happen on the day. He was quite early in the day and maybe it took a while for that sale to get going. A few of the big guys were on him, but they just didn’t turn up in the end.”

Hotazhell was one of three Book 2 buys that went on to fetch six-figure sums for Lackendarra Stables this year. A Blue Point filly out of Missunited was bought for 55,000gns and resold for 105,000gns at the Craven Sale, while a Mehmas colt bought for 55,000gns went on to bring 160,000gns at the Guineas Breeze-Up Sale. The filly, named Only One Blue, has yet to run for Richard Hannon, but the colt, named Marchogion, is now rated 89 following three promising runs for Andrew Balding.

Contrasting fortunes

Those profitable returns aren’t reflective of the season overall for Lackendarra Stables, who like most consignors, endured a challenging few months. “Results wise, on the track, we’ve had a very good year, but we had a tough year selling, to be honest.

“One or two horses didn’t make sales, different things went wrong, and there were a couple of horses that we had to sell for very small money; they just breezed kind of average and that was it, we just had to move them on. I think we sold some very good horses, but we had a tough year.”

It’s had an effect at this year’s yearling sales, Linehan admits. “We’ve been slower than normal so far, to be honest. We’ve only bought seven yearlings in total, and I’d say this time last year we were up to around maybe 15.”

He and right-hand man Dan O’Meara will be hoping to add to their haul at Tattersalls, though. “I am looking forward to getting over there now Friday and getting stuck into them over the weekend. I suppose, same as everyone, we won’t be getting carried away. We see how hard it is; it’s very hard to make a profit.

“It’s not straightforward. You need everything to fall right on the day, between doing the breeze and then vetting. You need someone there to buy them as well, ideally at least two people to take each other on.”

While much of the post-sale focus has been on the struggle endured by those selling, Linehan has found trade strong from a buyer’s perspective. “I think it’s very strong for what we want. If it wasn’t, we’d have more horses bought. I think if you have a nice horse, or if you have a bit of book, I think there’s loads of people for it.”

The ‘book’, or pedigree, is something Linehan likes to prioritise, he explains. “I suppose we are having to be a bit stricter, just for getting back into breeze up sales. Numbers are very tight and the chancey horse is always the first horse to be on a waiting list, so you’re trying to avoid that.”