Pinhooking triumphs don't come much more stunning than what transpired at Tattersalls' Craven Breeze-Up Sale April 17, as Glending Stables' Galileo colt completed his transformation from a 125,000-gns yearling to a 1 million-gns (US$1,310,000, 1gn=US$1.31) 2-year-old.
Once bidding commenced it wasn't long before the price sailed beyond the half-million mark, with Chris Wall, racing manager to Vandeek's owner KHK Racing, Amo Racing principal Kia Joorabchian, and the Godolphin buying team all still seemingly full of run. Wall was the first to check out but Joorabchian appeared in no mood to back down.
When Godolphin representative Anthony Stroud indicated a bid of 900,000gns it seemed like Joorabchian may have reached his limit.
Tattersalls chairman and auctioneer Edmond Mahony tried to tempt one last increase from the group by saying: "You might never get the opportunity again." The prompt plainly had the desired effect as they duly indicated a raise of 50,000gns.
However, Stroud soon returned a 50,000gns bid of his own to move matters into seven-figure territory, at which point a frustrated-looking Joorabchian shook his head and exited the ring.
Roderic Kavanagh is no stranger to success at the Craven Sale, having sold Vandeek for 625,000gns 12 months ago. However, the magnitude of this transaction plainly wasn't lost on the Glending Stables man.
"You do start to dream and the last month has been tense because you know you have something special," he said. "We were disciplined all year and didn't lose the run of ourselves, but when this horse came up (as a yearling) you could feel there was a possibility to get something unique."
The Coolmore-bred colt is one of just a dozen foals from the final crop of the 12-time champion sire and is out of the listed-placed Manderley. This lineage makes the colt a close relation to the listed winner Hidden Dimples, while the dam, who was also fourth in the 2014 One Thousand Guineas (G1), is a full sister to Gregorian.
The colt's upgraded value was, at least in part, underpinned by clocking a notably fast time during the breeze, especially for a son of a renowned classic influence. When Stroud was asked whether he expected the colt to prove as precocious as his breeze suggested, he said: "Charlie Appleby and the boss will make those calls."
The colt became the third-most expensive breezer sold in Europe and the second-most expensive to change hands at the Craven Sale.
Selectivity on Show as Figures Deliver Mixed Messages
Day 2 proved notably stronger than the opening session, although it was clearly a selective market, as evidenced by the whole-sale clearance rate of 72%.
Over the two sessions 147 lots were offered and 106 sold, which generated receipts totaling 14,584,500gns (US$19,105,695). That figure is a 5% year-on-year drop from 20 (16%) fewer sold lots. The average price increased by 13% to 137,590gns (US$180,243), while the median remained at 80,000gns (US$104,800), as it was 12 months ago.
"There has been no shortage of competition, both domestic and international, at the top of the market and a record number of lots selling for 500,000gns or more, but the lower levels of the market have not matched the robust demand at the higher end," Mahony said.
