Buyers from around the world, including a Switzerland-based owner inspired by a Netflix series about the Kentucky Derby, have helped push the Saratoga Sale hit a new benchmark with a US$100 million start to the North American yearling sale season.
Tom Ryan has never seen a bloodstock market quite like what transpired at a record-breaking Saratoga this week, with the SF Bloodstock principal in part crediting a Netflix series for attracting wealthy new investors to American racing.
Unprecedented demand at the Fasig-Tipton yearling auction saw turnover surge past the US$100 million barrier for the first time as high-profile American and international buyers converged on upstate New York for the season-opening Saratoga Sale.
Leading the way was Coolmore’s MV Magnier who purchased a colt by champion US sire Into Mischief, paying a sale-topping US$4.1 million for the first foal out of Grade 2 Tapit mare Stellar Sound during the select 222-lot offering.
Another 24 yearlings sold for US$1 million or more with Resolute Racing’s John Stewart stumping up $3 million for the second highest-priced lot, a colt also by Into Mischief who is the sire of this year’s Kentucky Derby and Belmont Stakes winner Sovereignty.
Ryan, who oversees SF Bloodstock’s global bloodstock interests which includes equity in Australia’s Newgate Farm, stallions, broodmares and racing stock, said buyers were clamouring for their piece of the action at Saratoga.
“Every time you look up at the board it's sticking into a million dollars again. It was more than a bull market tonight, it was like a stampede in there,” Ryan told The Straight.
“There's energy, the adrenaline in the room was just palpable. I've been to I imagine nearly every sale across the world and I don't feel like I've felt the energy like that in 20 years.”
As well as Coolmore and Stewart, American investor Mike Repole and international buyers such as Qatar Racing were also active in the heated market on the holiday strip.
MV Magnier (right) purchased the top lot of the day, a US$4.1 million Into Mischief colt. (Photo: Fasig-Tipton)
Wathnan Racing, led by Australian Olly Tait for the Emir of Qatar Tamim bin Hamad Al Thani, also struck early, with agent Case Clay signing for the US$750,000 Quality Road colt on behalf of the Middle East outfit.
Significantly, Wathan made its first foray into the southern hemisphere market on Tuesday when Twin Hills Stud’s Tait signed for Zoustar mare Olentia at $2.6 million at the Magic Millions Virtual Sale.
European operation Amo Racing, run by Kia Joorabchian, was also active at Saratoga, buying three yearlings for a combined US$2.425 million.
That pair has driven a huge surge in investment in Europe and Great Britain over the past 12 months.
Switzerland resident Kjell Andersen, who already races standardbreds in the US, was inspired to get involved in the thoroughbred industry after watching Race For The Crown.
He teamed up with trainer Kenny McPeek to buy a Not This Time colt for US $1.4 million having watched the horseman’s feats in winning the 2024 Kentucky Oaks and Derby double with Thorpedo Anna and Mystik Dan in the Netflix series, which also involved numerous trainers, jockeys and owners such as Stewart and Repole.
“There's clearly a lot of money on the sidelines and horse racing is very much in vogue at the moment. There's a lot of celebrities around there over the last few days. There's celebrities buying horses and selling horses and being involved and invested,” Ryan said.
“We've got investors coming in from Saudi Arabia, the Europeans, lots of domestic money here as well, lots of Japanese people.
“Everyone that plays on a global scale plays in America. They were all there tonight and the results are there to prove it.”
The Saratoga sale, which is similar to the top end of Magic Millions with the Gold Coast holiday feel and the elite pedigrees for which the Inglis Easter sale is renowned for, experienced a 23 per cent increase in aggregate year-on-year.
The average of US$629,469 was also up 18 per cent compared to last year while the median of $450,000 also increased by $25,000 in 12 months.
“There's clearly a lot of money on the sidelines and horse racing is very much in vogue at the moment."
- Tom Ryan
Fasig-Tipton president Boyd Browning described the action at Saratoga as “a remarkable two days” and a “glory night” in which a benchmark 16 yearlings alone sold for seven figures on Tuesday evening (Wednesday Australian time) at the boutique sale.
“We’ve been selling at Saratoga for 104 years, so it’s not an overnight sensation. It’s the culmination of many years of hard work and sweat,” Browning said.
“We try to work hard and do the right thing and on nights like these it all comes together like magic.”
Ryan believes the optimism witnessed at Saratoga will not only flow on to the Keeneland September Yearling Sale, the largest of its kind in the world with more than 4000 lots, but also through to Europe and into Australia next year.
“I would like to think that Australians are paying attention to the markets we're seeing here. I can assure you the Americans are definitely paying attention to how racing is running in Australia at the moment,” Ryan said.
“As we were walking out of there tonight, it almost felt like people were just afraid of missing out. It's just extraordinary the amount of adrenaline (in the auditorium). It was made for TV tonight, I can tell you that.
“If there's anyone watching that, they certainly want to be part of it.”
