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| Staff Writer |
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Horses associated with John Dance prominently featured at the Tattersalls 2nd May Guineas Horses in Training Sale, with eight of the top ten lots coming from the troubled owner's stable.
John Dance became a notable figure in horse racing through his success with Laurens, a six-time Group One winner. However, his reputation suffered a severe blow when, in April 2023, the Financial Conduct Authority (FCA) began an investigation into his company, WealthTek, for "serious regulatory and operational issues." WealthTek, also known under the names Vertem Asset Management and Malloch Melville, was subsequently put into special administration by the FCA. In response, the British Horseracing Authority imposed a racing ban on horses owned by Dance under the Coverdale Stud or Titanium Racing banners.
Over the two-day event, The Castlebridge Consignment sold 52 lots tied to Dance’s enterprises, accumulating 1,701,500 guineas (US$2,256,189). These sales accounted for 56% of the total turnover, which reached 3,016,000 guineas (US$3,999,216), boosting the sale's total volume by 98% compared to the previous year. The average price per lot sold also climbed by 26% to 22,675 guineas (US$30,067), with the median price increasing by 25% to 15,000 guineas (US$19,890). The auction maintained a high clearance rate of 94%, with 133 out of 142 lots sold.
In the individual lot bidding, Jeremy Young was outbid on a Kingman filly from Coverdale Stud, which went for 130,000 guineas on May 1 to buyers Alex Elliott and Billy Jackson-Stops. However, Young successfully bid the same amount the following day for Supreme Beauty, a once-raced daughter of No Nay Never, from Park Bloom, a full sister to multiple group winners and the 2012 Epsom Oaks winner, Was.
Another noteworthy lot was Twisting Physics, an unraced half-brother to Tropbeau by Dubawi, who was purchased by Manor House Farm for 1,000,000 guineas in October 2022 and sold to Jim and Fitri Hay’s racing manager, Alex Cole, for 100,000 guineas. Cole remarked on the substantial discount, noting the rarity of acquiring a Dubawi at such a price.
In the breeze-up section of the sale, the standout was a King of Change filly, which saw competitive bidding before being claimed by Oliver St Lawrence for 180,000 guineas. Initially pinhooked by Danny O'Donovan and Adam Potts for US$25,092.90, this filly is from a family that includes notable runner Slade Power.
Despite some successful sales, the overall market conditions for the breeze-up section were challenging, as noted by Tattersalls' chairman Edmond Mahony. The total turnover dipped by 17% from the previous year, reaching 4,943,500 guineas (US$6,555,081), with the clearance rate falling significantly to 72%. Mahony emphasized the robust competition for quality British and Irish bloodstock, despite broader economic challenges affecting the market.
The sale concluded with a record turnover of 3,015,500 guineas, nearly doubling the previous year's total, and marked improvements in average and median prices.
Tattersalls Chairman Edmond Mahony commented, "This year's sale exceeded expectations with significant participation from both domestic and international buyers. Despite some market selectivity, the competition for quality British and Irish bloodstock was strong. Today’s results affirm the sale's standing as a prime source of elite racehorses."