NATIONAL YEARLING SALES DAY 1

Pirates correct but if I ever find out there will be kak my bud

you only have to group the studs on the tba to see the amount of buybacks done by people closely linked to those studs..what an absolute farce especially when the stats get read .

Yes exactly..Pirates who writes the reports on Sporting Post re each horses pedigree etc..i think it was last weeks post?

i assume karel miedema

Part of the process of analyzing the market is to be able to know what a horse is worth. If you cannot figure that out, you have no business bidding, because you are not going to get value.

If one requires a paddle to make sure they are not getting screwed, they need to find something else to do of an evening.

Paddles are used at art auctions and they are infinitely more rigged and complicated than any horse sale on the face of the earth.

Buy back is when a vendor buys back his own horse, eg buyer and seller are identical.

When Beck buys a yearling from Highlands, or Jooste buys one from Klawervlei this is NOT a buy back. They are completely different financial entities. The tax implications will be obvious.

Take note that Beck & Jooste didn't buy overseas this year, and as a result both are serious buyers at the National Sales. Their purchases include horses from the farms they are associated with, as well as horses from other breeders.

Why should this be a problem, as this thread seems to suggest?

Dear Barry,

I spoke to a handful of individuals at the sale - a number of whom had been openly approached to 'bid up' horses to the levels where the connections already knew interested would be buyers had indicated they would be prepared to go to. If you are happy with that then who am I to comment or complain. All this does is to eliminate any chance of a fortuitous bargain to the buyer.

Second - there is a HUGE difference between an art and horse auction - whether one or both is rigged or not. There is absolutely NIL guarantee that a yearling horse can do what it is bred to do - run fast. So you can spend a fortune on the best pedigree in the world and end up with a dud. Classic/top/recognised art, on the other hand, can go through peaks and valleys of value but is unlikely to TOTALLY lose its worth over time in the manner that a horse might.

I do, however, agree with you in formulating a horse's value in advance but I stand by my opinion that reserves should be declared when bidding commences.

Garrick, surely the risk of loss is built into the price of the item, whatever the value. I can't see why there would be a difference in buying a horse, art or any asset for that matter.

Barry if prices are continually manipulated by organized imposters you get inflated values that becomes the market price, despite the fact that these values can be completely out of whack relative to the potential benefits that the asset can produce. The effect of this is you get price bubbles that can carry on for years and can spread across various markets. Throw in a few extremely wealthy owners after tax breaks and who have no problem splashing the cash, trainers and agents getting kickbacks from breeders, foreign currency that shits all over the rand and the inherent risk in buying a racehorse this elusive value becomes so much more difficult to ascertain. I'm sure I'm just stating the obvious to all and sundry anyway.

Whilst I've never been involved in owning horses and you've made a career out of it, it would be interesting to hear your thoughts on what constitutes value and what the factors are that go into your decision making...

On day 2, Mike Bass bought the sale topper for Graham Beck for R2.4M.
Uncle Tommy, photo on home page.
R2M was paid for a Count De Bois, so it would appear still a few bob floating about during these difficult times?

Karel I bought a horse based on how you described its breeding (I think you do a great job)..can you tell me exactly why you liked the breeding of lot 258?

Thanks mate.

Year after year breeders and buyers complain.I believe one should set a price on a horse and stick to it,but if necessary squeeze a bit.
Fancied a colt a few years back ,well bred but with an injury.My price R60k Sold for R280k.Retired a maiden.At R60 it would not have been a train smash but at R280k a bad buy for an owner.I was spending my own money.
This sale has held up better than expected,but still some possible good buys.
One annoying thing do we have to put up with Andrews and Nico any person watching the sale will tell thats what it's about "THE SALE" nothing else.
Andrews is now the local expert on soccer cricket and horseracing makes some really dumb statements regarding horseracing.

Oscar,

lot 258 was a 'very positive' observation rather than a 'real liking for a specific pedigree reason' on my part.
The yearling's dam is by Jallad, grandam by National Assembly.
Captain Al with Jallad mares has had one runner to date, the winner On The Bluff (MR 94).
Captain Al with National Assembly mares has had 7 winners from 8 runners to date, incl Therealslimshady (MR 106) and Ricky My Son (MR 88 from 5 starts).
In other words, it seems Captain Al does not have a negative affinity with Jallad and National Assembly. The latter pair together also looks OK, Jallad x Nat Ass-mares 30 runners, 19 winners, 3 stakes winners (& 2 others stakes placed) incl Sweet Sanette who won Gr3 on Saturday. The reverse cross (Nat Ass x Jallad mares) has 2 winners from 2 runners.

Good luck with him, Earl.