Straight Up – The $10 million question

As the giddiness of the $10 million sale of Winx’s filly by Pierro subsided at the Inglis Easter Yearling Sale, a question from a ‘mainstream’ journalist prompted a moment of reflection. “If she already owned the horse, then why buy it back?’

The details of the ownership of the Winx filly are a little more nuanced than that, but it shows how opaque bloodstock dealings can appear to the outside world.

Debbie Kepitis, whose Woppitt Bloodstock effectively bought out the other shareholders in the filly, was by no means the only part-owner/breeder to ‘stay in’ her own horse at the Easter Sale, but at least her name was on the docket.

It became apparent in post-sale discussions with a few people that the percentage of yearlings that have been at least part-retained by their original owners this year is at a historic high. However, none of this appears on the metrics of the overall sale, which in the case of Easter sat at record highs for median and average.

This is a result of the market reacting to dropping demand and the 2024 yearling season has been notable for lower clearance rates across the board. But exactly how much that demand dropped is hard to measure when breeders are compelled to take on more risk and retain more of their horses.

The rest of us are none the wiser as to a thoroughbred’s ownership until the horse is just about ready to race, by which time the circumstances of its sale as a yearling are usually long forgotten.

That doesn’t take any shine off the fact that Monday was one of the most extraordinary moments of Australian thoroughbred history.

Warwick Barr captured the moment when Winx’s daughter became the most expensive yearling filly in history, in 126 seconds of pure sales ring drama.

Kepitis keeps ‘collector’s item’ Winx filly in the family for $10 million

The daughter of 25-time Group 1 winner Winx has been sold to one of the champion mare’s part-owners with Debbie Kepitis paying an Australian record $10 million.

The StraightWarwick Barr

Those couple of minutes would have felt like a lifetime for Paddy Sheehan, the man charged with leading Lot 391 around the Inglis sales ring.

But there was no better man to be by her side. He had been there when he was foaled, he was there when her famous dam arrived in the world and was by Winx’s side as she fought for her life after a disastrous first pregnancy a few years ago.

“She was in big trouble” – Paddy Sheehan’s journey from bedside vigil to record-breaking sale

Paddy Sheehan was there when Winx was born and was by her side as she fought for her life. On Monday, he led her first filly through the Inglis Easter Sale ring where she fetched $10 million.

The StraightBren O’Brien

Overall, the Easter sale hit all the right notes, leaving aside the Winx filly for a moment. While the number of horses sold dropped, the overall metrics for the top-end horses soared and the number of yearlings purchased for $500,000 or more jumped from 82 to 95.

Perhaps what sums up the divided market best is the fact that there were as many horses sell for over a million dollars as there were for $100,000 or less.

Easter sale hits new heights thanks to record-breaking fillies

A record-breaking Inglis Australian Easter Yearling Sale set new marks for sale average, highest-priced lot and median, with the final day dominated by the $10 million yearling daughter of champion mare Winx.

The StraightBren O’Brien

Broadening our horizons slightly, and the recent decision for the European Union to loosen the import ban on South African thoroughbreds is set to have a significant impact of thoroughbred travel from that part of the world.

For South Africa’s greatest trainer, Mike de Kock, it has convinced him to shelve plans for retirement and get back on the global stage again.

Export changes reignite de Kock’s ‘burning desire’ for Australian success

For a country that knows a thing or two about sporting comebacks, the lifting of the European Union ban on thoroughbred exports represents an opportunity for a racing renaissance in South Africa.

The StraightMatt Stewart

Another well-travelled bloodstock figure at the Easter sale this week was John Singleton. Singo, now 82, may have sold off his farm and all his broodmares this year, but in his own words “I still love racing horses and I still love gambling”.

So he was happy to part with $700,000 for an I Am Invincible filly out of Group 1 winner Lucia Valentina.

“I still love racing horses and I still love gambling” – At 82, Singo retains the yearling bug

John Singleton may have sold off his Strawberry Hill operation last year, but his love of the track saw him make his first Easter Yearling Sale purchase in seven years.

The StraightBren O’Brien

A look at the sire stats from the Easter sale and the results from Randwick on Saturday might make you think twice about the connection between the commercial bloodstock world and what happens on the racetrack.

Three of the four winners of the Group 1 races were the only (Australian-bred) Group 1 winners by their respective sires. This flagbearer, or as some might call it one-hit wonder, trend has ben going on for the past few months in Australia, as this week’s Run The Numbers explores.

Run The Numbers – ‘Off-Broadway’ sires have their day in The Championships spotlight

On one of the biggest days on the Australian racing calendar, the progeny of lower-profile sires came to the fore.

The StraightBren O’Brien

And finally, The Quokka, Western Australia’s $5 million slot race, looms on Saturday week and several horses have been locked in, including Simon Miller’s Petula, who got the invite from Sky Racing this week.

Petula to run in The Quokka for Sky Racing

Simon Miller-trained filly Petula has been selected in Sky Racing’s slot to run in The Quokka and will tackle her high-profile stablemate Amelia’s Jewel in the $5 million race on April 20.

The StraightBren O’Brien

We hope you enjoyed our coverage of the Easter sales over the past week. As you know, we are keen to report and cover topics in the bloodstock, wagering and racing industries and we can assure you after such a strong focus on the sales, we have a suite of stories on other aspects of the thoroughbred industry coming your way.

Regards

Bren O’Brien

Managing Editor and Founder

The Straight