Racing: Odds favour buyer at yearling sales

By Michael Guerin

The greatest advertisement for today's standardbred yearling sales is who won't be there.

In the past week a couple of yearlings which would have brought serious money have been pulled out of today's Australasian Classic Sale at Karaka.

At first glance that doesn't look like good news. But it is a very small cloud with a golden lining.

The reason for those few missing lots is the same reason why today's sale will be a huge success.

It is simply supply and demand. A lot of people want to own a good harness horse at the moment but there are not many available.

The seeds of that imbalance were sown early last decade. As harness racing battled through its toughest times some breeders gave up, broodmares were left barren and the foal crop shrank.

Then the turnaround started. Fuelled by the big money from TAB privatisation in Australia, feature race stakes across the Tasman went through the roof. Lower grades stake rises followed and the Aussies wanted good horses. New Zealand horses.

Closer to home, more professional and streamlined administration, better marketing and the emergence of champions like Christian Cullen and Courage Under Fire boosted harness racing's profile.

The Auckland Trotting Club has already implemented major business initiatives which have cemented the future of harness racing here, with stakes increases guaranteed for the next three years at least.

Things are looking up. But that won't flow through to the number of foals bred for at least another couple of years.

Which brings us back to today, a couple of missing lots and the message that sends.

The reason four or five lots have been withdrawn from today's sale is their owners want to keep them because buying promising racehorses has become nearly impossible.

These days any juvenile pacer who can run a mile in 2:00 costs around $50,000. Anything that looks the slightest bit special starts to hit the $150,000 mark. Just three weeks ago the then unraced City Rogue was syndicated for $200,000.

For most people, buying a ready to run promising pacer is a bit too rich.

Which means prospective harness racing owners have two choices. Breed your own horses or buy one at the yearling sales.

"We lost a couple of lots from this sale because the vendors realise how hard it is to buy a decent racehorse these days so they would rather hold on to their horses," said Pyne Gould Guinness spokesman Bruce Barlass.

"But a lot of buyers also realise their only real shot at getting a top youngster without having to spend a fortune is at these sales."

The reduction in the foal crop means only 120 yearlings will go through the ring today. Another 260 will go under the hammer in Christchurch on Wednesday and Thursday. But that's it, 380 lots and it's all over.

Buyers who miss out will have to try to find a going racehorse or take a punt on something less fashionably bred.

To do that they will have to compete with the myriad of agents feeding massive orders from Australian buyers wanting a share of the action.

But while interest will be high at this week's sales, there is also a bright side to being the little brother of the yearling sales world.

Today's sales might as well be held on a different planet from last month's thoroughbred yearling sales.

There will be no $3.6 million sales topper. There won't be many overseas millionaires, no agents buying on behalf of Middle Eastern oil barons. There will be no international fashion models. The pop of champagne corks will be replaced with the hiss of twist-top stubbies.

Which means normal people - people who have nine to five jobs - will be able to buy racehorses.

Today's average will be around $15,000, putting horses in the grasp of small time owners and even smaller-spending syndicates.

The best of those lots will be able to go on to race in the rich Sales Series Pace and Sires Stakes Series, the Derbys, the Cups, Miracle Miles and of course the Interdoms, which should have stabilised around the $750,000 mark by the time these yearlings get there.

But the real beauty of this sale is even the yearlings who only make average horses will have somewhere to go.

The demand for New Zealand horses in Australia means a qualified two or three-year-old can usually be sold to Australia for more than they cost at the sales. Like a get out of jail free card.

Going to the yearling sales is never easy. You still have to buy the right horse, hope they have got the ability their bloodlines would suggest and then pray they don't get injured.

But today for once the odds are in the buyer's favour.