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2014, ANOTHER VINTAGE YEAR

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Just a few days ago, the Breeding Stock Sale successfully crowned another unprecedented year for the ARQANA sales agency which has been accumulating record figures since February. The overall turnover of around 120 million euros increased by nearly 14%, which represents the strongest increase among the three leading European sales agencies. 81% of the 3,266 horses presented changed hands for a record average of over €45,000.

 

 

 

Presented

Sold

 

% Sold

Turnover

Average

Top price

2014

3266

2640

80.8%

€119,945,600

€45.384

€1,200,000

2013

3142

2497

79.47%

€105,420,200

€42.219

€1,500,000

2012

2997

2337

77.98%

€86,158,650

€36.867

€1,200,000

2011

2963

2237

75.39%

€87,028,250

€38.904

€1,700,000

2010

2840

2109

74.23%

€75,670,100

€35.880

€800,000

2009

2695

2040

75.69%

€79,438,200

€38.940

€900,000

2008

2782

1998

71.82%

€79,256,340

€39.668

€770.000

NB : all these figures include private sales

 

A very dynamic yearling market both flat and National Hunt

 

  Presented Sold % sold

Average

Median

Turnover

Top price

August 2014

324

271

83.6%

€ 146,153

€90,000

€39,607,500

€1,200,000

August 2013

335

266

79.4%

€ 130,789

€80,000

€34,790,000

€1,500,000

v.202014

113

105

92.9%

€ 35,895

€28,000

€3,769,000

€90,000

v.2 2013

108

88

81.5%

€ 27,210

€20,000

€2,394,500

€115,000

October 2014

573

447

78%

€ 35,768

€26,000

€15,988,200

€350,000

October 2013

543

452

83.2%

€ 33,344

€25,000

€15,071,500

€320,000

Autumn 2014

320

256

80%

€ 12,217

€8.500

€3,127,500

€150,000

Autumn 2013

271

193

71.2%

€ 9,845

€7,000

€1,900,000

€100,000

TOTAL 2014

1330

1079

81.1%

€ 57,917

 

€62,492,200

 

TOTAL 2013

1257

999

79.5%

€ 54,210

 

€54,156,000

 

NB :  all these figures include private sales other than the median

 

This year, the yearling market has demonstrated an excellent vitality. At the end of the four sales, the 1000 yearling bar had been reached. The global turnover reached €62,492,200, compared to €54,102,000 on the same day the previous year, representing a significant increase of over 15.5%.

Since 2013, the August Yearling Sale has been tightened to 3 days (compared to 4 in the past), a format which once again this year proved its effectiveness by bringing more consistency to this elite market. The turnover (€39,607,500) leapt by nearly 14% compared to the previous year, while the average (€146,153) reached an unprecedented level, which was more than 11.7% up on the record established the previous year. The clearance rate (83.6%) also constitutes a record high, a figure which reflects the extreme satisfaction of vendors involved in the August Sale. In addition a wide range of buyers had once again made the trip to Deauville, hailing most notably from the United States, Japan, China, South Africa, Australia, the Gulf countries (Qatar, Dubai, Bahrain, Kuwait), from Russia and the whole of Europe.

On the day following the August Yearling Sale ARQANA held the second renewal of the v.2 Yearling Sale, an appointment which has become a must for industry professionals, as evidenced by the dramatic increases in the overall results. The clearance rate was just under 93%, a true record for a yearling sale while the average rose by over 32% compared to the inaugural v.2, sign of a strong demand from yearling buyers. On that day, French racing professionals very much made their presence felt while many buyers who were already active over the previous three days also made new purchases.

In spite of a volume of horses consigned superior even to last year, the October Yearling Sale continued to rise and new records were established with the average (€35,895), the median (€26,000) and the turnover (€15,988,200). Each year, this third session of the year dedicated to yearlings gains in reputation thanks to the exceptional quality of graduates of the sale. The sale can boast having offered Trêve, Avenir Certain, The Grey Gatsby, Charm Spirit as well as High Jinx, five extraordinary horses who have won nine Group 1s between them this year.

Held over two days in a bid to accommodate strong demand from vendors, the last yearling sale organised within the framework of the Autumn Sale posted a strong increase, boosted by a supply of quality National Hunt yearlings. Representing 58% of the horses sold, horses with a National Hunt profile generated 75% of the total yearling segment at the Autumn Sale. A record top price of €150,000 for the Autumn Sale was paid for Not At All, a son of Martaline from one of the best National Hunt families in France. Overall at the Autumn Sale, 80% of yearlings changed hands (+9% compared to 2013) for an average sale price up by 24% and a turnover up by 64.6%.

 

A selective demand for flat bred two year olds

 

 

Presented

Sold

% sold

Average

Median

Turnover

Top price

May 2014

116

89

76.7%

€76,067

€55,000

€6,770,000

€750,000

May 2013

115

101

87.8%

€63,282

€49,000

€6,391,500

€520000

NB : all figures include private sales other than the median

 

The May Breeze Up was in line with the positive trend witnessed on the European market for several years. The tightening of the catalogue, which was initiated in 2013 continued to bear fruit and the sale posted record average (+20% increase compared to 2013) and median (€55,000 versus €49,000) figures. This improvement in the Breeze Up market can be put down to pinhookers who did not hesitate to invest at a very high level at the yearling sales. A perfect example of this is the top price of the sale, a son of Invincible Spirit sold for €75,000 by Brendan Holland (Grove Stud) who had bought him for €55,000 at the 2013 October Yearling sale.

 

 

Presented

Sold

% sold

Average

Median

Turnover

Top price

Summer 2014

80

53

66.25%

€20,245

€16,000

€1,073,000

€90,000

Summer 2013

72

57

79.17%

€20,447

€14,000

€1,165,500

€120,000

NB : all figures include private sales other than the median

 

This second and last two year old breeze up of the year posted stable results compared to those obtained in 2013. The clearance rate came down, but the average was equivalent to the previous year and the median on the increase.

 

A multitude of avenues for horses in training

 

  Presented Sold % sold Average Median

Turnover

Top price

Summer 2014

179

149

83.24%

€ 25,258

€ 9,000

€ 3,763,500

€ 190,000

Summer 2013

165

147

89.1%

€ 22,548

€ 9,000

€ 3,314,500

€ 280,000

Arc 2014

37

26

70.27%

€ 268,654

€ 200,000

€ 6,985,000

€ 800,000

Arc 2013

49

30

61.22%

€ 179,433

€ 125,000

€ 5,383,000

€ 900,000

Autumn 2014

176

147

83.52%

€ 27,735

€ 10,000

€ 4,077,000

€ 420,000

Autumn 2013

191

135

70.68%

€ 25,048

€ 9,000

€ 3,381,500

€ 300,000

TOTAL 2014

392

322

82.14%

€ 46,042

 

€ 14,825,500

 

TOTAL 2013

405

312

77.04%

€ 38,715

 

€ 12,079,000

 

NB : all figures include private sales other than the median

 

The horses in training section evolved most satisfactorily this year thanks to the quality of the horses presented and ARQANA’s ability to maximise the value of the best individuals on offer in both disciplines. Demand is strong and very international, whether for flat horses exported most notably all over Europe, Australia, Hong Kong, as well as Qatar, Dubai and the United States, or the National Hunt market where the ‘novice’ horse market is dramatically gaining momentum. At the Autumn Sale, the “Wild Card” Silverwave, a two-year-old unbeaten in two starts fetched the top price at €420,000, while The Saint James, who was second in the Prix Congress (Gr.2) at Auteuil, changed hands for €320,000. The talented AQPS Auvergnat, already twice a winner over jumps at Fontainebleau, was bought for €220,000 by Highflyer Bloodstock.

An exceptional showcase for the elite among the horses in training, the Arc Sale generated excellent figures this year including a record average of €268,654, up by nearly 50% compared to last year while the turnover increased by 30% to reach €6,985,000. Highest price of the sale, the three year old Auvray, winner of the Prix Lutèce (Gr.3), changed hands on a final bid of €800,000 from China Horse Club. Among the best graduates in 2014 stands out Empoli, winner of the Gr.1 Preis von Europa in Germany.

 

A store horse market on the upgrade

 

 

Presented

Sold

% sold

Average

Turnover

Top price

2014 stores *

124

102

82.26%

€24,598

€2,508,500

€165,000

2013 stores *

89

64

71.91%

€21,312

€1,364,000

€105,000

* Summer sale and Autumn sale

 

The store horse market is in full expansion and this year reached a level equivalent to 2007, last great year before the depression which hit the National Hunt industry from 2008. The supply of two and three year old store horses, which grew again in 2014, was very well met by buyers who were keen on French National Hunt families, as witnessed by the clearance rate of 82%, up by 10% compared to 2013, and the average of €24,598, which was also up by 15%. It was a Network brother to Questarabad who generated the highest bid of the year when knocked down for €165,000 at the Summer Sale.

 

A record Breeding Stock Sale for the third consecutive year

 

 

Presented

Sold

% sold

Average

Median

Turnover

Top price

Décembre 2014

871

691

79,33%

€40.353

€17.000

€27.884.000

€1.100.000

Décembre 2013

846

695

82,15%

€39.291

€13.000

€27.307.000

€800.000

 

For the third consecutive year, the Breeding Stock Sale posted record results and generated a turnover in excess of the 2013 renewal, which had already witnessed an increase of 32% compared to 2012. This sale can boast being the only one of its kind to have posted an increase in the fillies and mares section in Europe. This success is linked to an improved catalogue in spite of the increasingly rare opportunities to buy top of the range fillies and mares.

The foal market has been developing most satisfactorily for several years and is greatly supported by European pinhookers. At this last sale of the year, nearly 84% of the foals on offer found new homes (compared to 77.8% last year) for an average of €27,187, representing a marked increase of 24%.  The turnover was €4,948,000, representing an increase of 19.5%.

 

Eric Hoyeau, ARQANA chairman, takes stock of this year and sets the outlook for 2015:

“We have had an extraordinary year in every respect. Horses presented at our sales over the last few years have impressed on the track, winning 11 Group 1s on the flat, 59 Group races and 124 Stakes races. They are for the most part graduates of the Yearling sales, whose global volume is nevertheless smaller than its counterparts across the Channel. Standouts among them include triple Group 1 winner in France and Ireland Charm Spirit, dual classic winner Avenir Certain, the exceptional The Grey Gatsby, who defeated Australia  in the Irish Champion Stakes, Champion filly Trêve, who won her second Qatar Prix de l’Arc de Triomphe this year, and the highly promising Belardo, winner of the Dewhurst Stakes at Newmarket.  These magnificent successes underline the quality of French breeding and more generally the trust placed in us by French breeders by entrusting us with their best representatives throughout the year. Thanks to this, the French market has reached its highest level ever. Just before the creation of ARQANA in August 2006, the market was worth about €50 million, it now amounts to €120 million. This is the spectacular result of the dynamics which ARQANA and its vendors have created together for now 8 years. From February to December every sale has progressed; Indeed ARQANA is the only sales agency to have seen its turnover increase across all market segments. This success is explained by our ability to improve our catalogues across all segments and therefore make the most of a very sustained demand in Europe. This was particularly noticeable in in the fillies and mares and the horses in training market. In spite of an increasingly rare supply of top of the range individuals, we managed to assemble profiles of the highest quality for the Breeding Stock Sale and the Arc Sale. Added to this, the Wild Card system once again had a decisive impact on the sales; these late entries for attractive profiles at the heart of the catalogue demonstrate ARQANA’s determination to seize every opportunity to satisfy demand.

In future, this momentum of growth is expected to continue as it is based on solid fundamentals. Indeed, France offers the best prize-money in Europe and benefits from a quite unique premium system. The volume of foreign owners with horses running in France is increasing all the time and the Deauville yearling sales naturally emerge as the best source of racehorses. This increase in foreign investment has also enabled the French broodmare band to progress. This phenomenon is accompanied by a new impetus in the French stallion ranks thanks to talented young stallions such as Siyouni, Le Havre and Kendargent which have been so successful both in the sales ring and on the track throughout the year. »

 

 

 

For more information: info@arqana.com

Full results and statistics are  available at: www.arqana.com