 |
|
| Staff Writer |
 |
One of racing’ biggest 2YO sales, the Midlantic May Two-Year-Olds in Training once again caused a sensation this May, featuring a slew of tantalising 2YOs, with fantastic breeze up times and unforgettable conversation moments between buyers, their agents and consignors. Some of the best-bred horses in the world vied for top prices with trainers watching in the wings as they prepare to step up and take these juveniles to serve in the upcoming races.
Many eyes were on one specific consignor known for his quality drafts, Ciaran Dunne. He sold the highest price lot of the two-day sale, Hip 401, a filly by Bolt d'Oro. She sold to Winchell Thoroughbreds for US$1.25 million with trainer Steve Asmussen signing the ticket.
Consigned by Wavertree Stables (Ciaran Dunne), agent, the filly is out of the winning Arch mare Werewolf and is a half-sister to stakes winner and graded stakes-placed Howling Time and stakes winner Air Recruit. The filly became a keen favourite when she breezed eighth in 0:10 during the auction's final under tack session.
It was at Dunne’s Wavertree Stables that Seize the Grey 2024 Preakness Stakes winner learned to race after MyRacehorse purchased him for US$300,000 at the 2022 The Saratoga Sale, Fasig-Tipton's select yearling sale. His success is not limited to the domestic market, as he has also sold prominent horses to international buyers, including the 2022 Saudi Cup winning horse Emblem Road to its Saudi owners.
Ahead of OBS’ June sale, Ten Furlongs sat down with Dunne to talk all things training, horses, technology and the Middle East.
In recent years, the global horse racing industry has witnessed a surge in international connections, particularly between North American sellers and Middle Eastern buyers. This shift has significant implications for the North American horse racing industry, as it opens up new opportunities for American horses to be sold directly to the Middle East.
Dunne has noticed a significant increase in European bloodstock agents acquiring American horses, particularly those bred for dirt racing. According to Dunne, this is largely due to the success of American-bred horses in dirt races around the world, including the Middle East.
He highlights the strong ties between Britain and Middle Eastern countries such as Dubai and Saudi Arabia, noting, "With the British relationship with Dubai and Saudi Arabia, where they have employed individuals, or where Saudi or Dubai trainers work in the US or England, it is evident that they have those relationships there."
"From what I can see, the training seems to be much more similar to what we do here in the United States," he notes. "Therefore, I would assume that's why it's difficult for Europeans to get used to training on schedule."
Dunne also highlights the importance of American trainers who have experience training on local terrain in the Middle East.
"American trainers based in the Middle East, like Jimmy Jerkins, will have relationships with those individuals (buyers and American bloodstock agents) and will recommend others to visit if they are in need of a horse," he explains.
One of the key factors contributing to the success of American-bred horses is their ability to adapt to different racing environments. Dunne notes that American trainers are more accustomed to training on a faster pace, which is advantageous when competing in international races.
"The American approach is really intimidating," he says.
"Additionally, there has been a noticeable increase for OBS April since we sell 2YOs in greater quantities than they do in Europe and at a faster rate."
Another significant factor is the difference in sales approach between Europe and the United States. In Europe, most sales are focused on younger horses, whereas in the US, the majority of sales are focused on middle-distance and 3YO.
This means that buyers are more likely to purchase horses that are already mature and ready to race.
"As relationships between North American sellers and Middle Eastern buyers deepen, we'll see more traffic if we demonstrate that it is possible to accomplish that and have built that channel," he says.
"It will likely be significant for us."
Dunne is optimistic that the rise of international connections in horse trading is a significant development that will have far-reaching implications for the North American horse racing industry. As American breeders and trainers continue to build relationships with Middle Eastern buyers, it's likely that we'll see more direct sales from America to the Middle East.
Dunne has had the opportunity to work with numerous buyers from around the globe and has gained valuable insights into their preferences. Recently, he sold several impressive horses at the Fasig Tipton Sale, including a Bolt D'oro filly that fetched over US$1.25 million.
According to Dunne, this filly was a standout due to her exceptional physical attributes and impressive performance.
"She's one of our kind of dream," he says. "Big and strong, she looked like she'd go two turns, but she also had speed there."
According to Dunne, this filly will be trained by Steve Asmussen, who will be working with her to develop her racing potential. In fact, this filly is one of several horses that will be trained by Asmussen, which also includes the Practical Joke filly and the Good Magic colt.
"What makes these horses special?" he asks. "It's not just about pedigree nicks or confirmation. It's about speed."
Dunne emphasises the importance of physical attributes too.
"We like horses that are a little taller and which can lengthen their neck for us," he explains. "They should have the right shape and a smooth gaze."
While these physical attributes are crucial, Dunne also notes that pedigree plays a significant role in his decision-making process.
"After we've made a decision that this is the one we want, we work out what it's going to cost us," he says. "That's where the pedigree comes into the picture."
"Yes, we do have preferred farms and vendors that we prefer to buy from," he reveals.
 |
Today online sales platforms have revolutionised the way we conduct business. However, Dunne believes that in-person evaluations remain crucial in the horse trading industry. According to him, online sales can be problematic, particularly when dealing with young horses or mares that aren't in a training environment.
In contrast, 2YO sales in training provide a more controlled environment, where horses breeze under the same conditions and are presented for sale shortly after.
“I think with mares, colts or yearlings who aren't in a training environment, there can be that lapse between maybe when the videos were done and when xrays were done and when the horses are presented for sale
“So, I think with the two-year-old in training, you can’t have that bigger lapse because so much can change so quickly. I don't see it as being a big part of what we do in the future,” he analyses.
While he has been approached about online sales options, he believes that personal interactions are essential in the Thoroughbred sales industry.
Dunne's emphasis on in-person evaluations is highlighted by his plans to attend the OBS sale in 2024. He notes that this will be his last stop for the year, and that he has a few nice horses left to sell.
The fact that most of these horses are first-time sellers makes their performance at the OBS sale even more significant.
Dunne’s approach to horse trading is refreshingly straightforward. He doesn't make excuses if his horses don't perform well at sale.
Instead, he focuses on providing high-quality horses to his clients and building relationships through personal interactions.
While online sales platforms may offer convenience and ease of access, Dunne’s experiences demonstrate, in-person evaluations are essential for ensuring the quality and performance of young horses.
Dunne has built a reputation for his ability to identify and develop top-notch Thoroughbred prospects that drives his purchasing decisions.
"The technology that exists today gives us so much more information about the horses," he notes.
"And in turn, it helps develop their racing careers."
By leveraging data and analytics, Dunne is able to gain a deeper understanding of each horse's potential and make more informed purchasing decisions.
For him, the key is to balance traditional methods with modern technology.
"A lot of this information is already known to us," he says. "But now the data helps to back it up."
"We believe that technology will continue to play a bigger role in the industry," he notes.
"But at the end of the day, it's still about getting the right horses and developing them correctly."
American expertise in breeding and training dirt horses positions them to capitalise on this growing trend. The continued development of relationships between American breeders, trainers, and Middle Eastern buyers will likely lead to a significant increase in direct sales, benefiting both parties and contributing to the overall growth of the global horse racing industry.