Yarraman Park has earned a reputation as not only a top-quality vendor, but also one which has been willing to meet the market and it is currently on a streak of selling 71 straight yearlings at major Australian sales without passing one in.
But with so much uncertainty in the market ahead of the Inglis Australian Easter Yearling Sale, Round 1 of which begins on Sunday as an online auction as part of the protocols in place because of the outbreak of coronavirus, that streak will be put to the test.
While the exact impact on yearling prices the current crisis will have is hard to quantify, the universal expectation among vendors is that selling horses in this environment will be particularly hard work, with clearance rates expected to drop markedly even at a sale as select as Easter.
Harry, Bill and Arthur Mitchell (left to right)
Director Arthur Mitchell said Yarraman Park will be typically fair on its reserve prices, with the expectation that the depth of the buying bench, as well as their ability to spend, will be significantly hampered by the current environment.
"We are just hoping for the best and we are getting as many people through the farm as possible to view the horses and we are letting them know that they will be there for sale," he said.
"We are going there wanting and trying to sell our horses, the best we can, without having to give them away." - Arthur Mitchell
"We are going there wanting and trying to sell our horses, the best we can, without having to give them away. We are hopeful of getting the bulk of them sold.
"We are not expecting anything big. We are just hoping to get a few horses sold. We know it’s not going to be easy, but I think Inglis have done the best job they can in the circumstances."
The Hinchinbrook x Morinda (colt) which sold for $360,000 to George Moore Bloodstock at the Inglis Classic Sale
Aside from the current economic uncertainty, Mitchell said the online aspect of Round 1 of the sale - Inglis intends holding Round 2 in a traditional format at the Riverside Stables in July - clouds the possible outcome even further.
"It’s the first time yearlings at this level are going to be sold like this, I don’t think anyone knows what that is going to mean. We are in uncharted territory here," he said.
"We might all end up being surprised, and it might be stronger than we think. I feel it’s a very good opportunity for people to buy the best-bred fillies in the land."
Impacts felt across the industry
The knock-on impacts of the coronavirus crisis will be felt far beyond the upcoming sales season, with several of Australia's state-based racing bodies already cutting prizemoney, which has traditionally fuelled much of the investment in the bloodstock industry.
There is highly likely to be a major drop in stallion fees for the 2020 season, which adds further uncertainty, while the capacity for ongoing investment from those whose external businesses will be severely impacted by the economic slump, is also another factor to consider.
There is highly likely to be a major drop in stallion fees for the 2020 season
"I don’t think we really know and that is the hard part," Mitchell said. "We don't know how long it is going to take to burn out. We just don’t know when we are going to be back on track and know what it is going to look like in July or August at all.
"There will be a bit of a downturn and we just don’t know how long that is going to be. Everyone is doing what they can, the race clubs are keeping racing and there is an interest going. Racing keeping going is very important, I'm not sure we can do much more than we have been doing.
"Australia is lucky, we’ve got good prizemoney and we are doing the right thing at the moment cutting it back." - Arthur Mitchell
"We are obviously thinking that if the world economy becomes depressed, the market will drop dramatically. Hopefully, racing can get back on its feet. Australia is lucky, we’ve got good prizemoney and we are doing the right thing at the moment cutting it back, but I think long term, we are probably in a better position than a lot of countries in the world."
Quality an Easter focus for Yarraman Park
Selling top horses is something Yarraman has always done well and while its draft of 10 set for the Easter Sale this year is smaller in quantity than last year, it is at the very top end for quality.
"We only go to Easter with what we think are the top ones. We've got a very good draft all the way through, they are right up with the best we have bred," Mitchell said.
Yarraman Park will offer six lots by resident stallion I Am Invincible
The headline acts, as you’d expect, are the six lots by Yarraman Park's star resident I Am Invincible.
There are four fillies, all with big pedigrees and all with significant residual value.
Lot 12 is out of Lady Macan (Where's That Tiger {USA}), a daughter of G1 Blue Diamond S. winner Lady Jakeo (Last Tycoon {Ire}) who produced two stakes winners herself and who boasts another six black-type winners among her family, including G1 Oakleigh Plate winner Mrs Onassis (General Nediym).
Lot 39 is out stakes-placed Lorna May (Redoute's Choice), who is from the extended family of Group 1 winner Virage De Fortune (Anabaa {USA}). The I Am Invincible-Redoute's Choice nick has produced 22 winners already.
Gallery: I Am Invincible fillies
Lot 123 is another 'Vinnie' filly and is closely related to Group 1 winner and leading first-season stallion Pride Of Dubai, being by Street Cry (Ire) mare Palace Talk (NZ), while Lot 199 is out of stakes-winner Silently (Anabaa {USA}), who has produced four winners, including South African Grade 3 winner Muwaary (O'Reilly {NZ}). Silently is a half-sister to Group 1 winners Criterion (NZ) (Sebring) and Comin' Through (Fastnet Rock).
The two I Am Invincible colts are Lot 148, who is a half-brother to South African Grade 1 winner Entisaar (More Than Ready {USA}) out of stakes-placed Purrpurrlena (Catbird), and Lot 242, out of the Group 1-placed mare Thinking Of You (NZ) (Thorn Park).
Gallery: I Am Invincible colts
Last chance to buy a Hinchinbrook
Easter will also be the last time that Yarraman Park sell a yearling by its former resident, Hinchinbrook, whose final crop have proven very popular so far in 2020.
Lot 79 is out of stakes-winning mare Miss Vandal (Don’t Say Halo {USA}), making him a half-brothrr to Group 2 winners Miss Marielle (Encosta De Lago) and Eurozone (Northern Meteor), and a close relative to G1 Coolmore Classic winner Peeping (Redoute's Choice).
"Hinchinbrook has a strong reputation with the Hong Kong market in recent times and it will be interesting to see where that market is," Mitchell said. "A lot of people like to see before they buy, but everyone has made a big effort on their videos, to ensure buyers can get a decent look at the horses. There have also been a lot of agents around."
"A lot of people like to see before they buy, but everyone has made a big effort on their videos, to ensure buyers can get a decent look at the horses." - Arthur Mitchell
Lot 273 is the top-priced colt from last year's Magic Millions National Weanling Sale, where he sold for $480,000 to Blandford Bloodstock. A son of Redoute's Choice, he is out of imported mare Victoire Celebre (USA) (Stravinsky {USA}), who has already produced a stakes-winner in Arab Dawn (GB) (Dalakhani {Ire}).
There is also Lot 182, an Astern half-brother to multiple Group 1 winner and young Darley stallion Brazen Beau and Lot 37, a filly by Shalaa (Ire) out of Group 2 winner Longport (Casino Prince).
