04 August, 2020
Each July, the JRHA hosts one of the highest quality sales in the world, with what is likely contains the most black-type per capita. Year after year, the sale sets new records, and while COVID-19 had a noticeable impact on the sale, it still ended strongly. The sale is divided into two sessions, a yearling sale and a foal sale, held on Monday, July 13th, and Tuesday, July 14th, respectively. This article takes a closer look at the Foal session.
The JRHA's Foal Sale is likely one of the most unique sales in the world. While there are other sales where you will see a foal go through the ring with their dam(with only the foal for sale), at this sale, their mothers accompany nearly all of the foals except for a few born early in January who might have already been weaned. But it is the exhibition part of the sale that makes it truly an event to behold. All 226 lots, dam and foal are lead out into a giant field and lined up for prospective buyers to walk around and inspect them. It is a great way to see as many lots as possible in a limited amount of time since the foals are not available for onsite inspection before the sale. Walking around the field, you see mares with foals nursing, snacking on grass, trying to sleep, and being generally very cute on top of displaying their physicals to buyers. Despite the mass amount of horses, nearly 400 including the mares, there are never any runways or injuries, though there are likely to be a few determined foals to manage to take a nap in the grass.
The Foal session was perhaps where the effects of the global pandemic and resulting recession were most felt on the market. The gross ¥8,333,000,000(US$76,837,252) was down 14.83% from 2019, a substantial decrease from last year's record-breaking sale and its improvement off of the more typical 2018 was only 0.91%. Going backward from 2019's sensationally good year was expected under the circumstances though the Foal session was not ultimately as successful by percentages and gross as the yearling session. The average, ¥41,049,261(US$378,508), also took a big hit, seeing an 18.6% decrease from 2019, though there was a 1.9% increase from 2018. The yearling session saw far less impact from the current recession, though it was helped by several expensive Deep Impact(JPN) offspring, which were missing from the foal sale due to his minimal covers and ultimate death last year.
With Deep Impact(JPN) out of the market, it was Heart's Cry(JPN) 's turn to be top dog at the sale with the three highest-priced foals in the sale. Hip 365 was a colt out of Hilda's Passion(USA), and was a full brother to multiple American G1 winner Yoshida(JPN) who now stands in the United States, and also a half brother to Japanese G3 winner Sanctuaire(JPN). He sold for ¥380,000,000(US$3,503,918) to Yoshihisa Ozasa. Next on the list was Hip 407, a colt out of American G1 winner She's a Tiger(USA) who was bought by Danox Co. for ¥270,000,000(US$2,489,626). Hip 383 was a colt out of Sheave(USA), a half brother to G1 Kentucky Oaks winner Cathryn Sophia(USA), and the yearling sessions record priced colt by Deep Impact(JPN), smelling for ¥210,000,000(US$1,936,376) to Miwa Holdings. Heart's Cry(JPN) had one other million dollar baby with Hip 476, a ¥135,000,000(US$1,244,813) colt out of American G1 winner Starship Truffles(USA) bought by Masatoshi Haramura. Heart's Cry(JPN) led the sale grossing a whopping ¥1,579,000,000(US$14,559,704)and averaging an impressive ¥98,687,500(US$909,981) from his 16 lots sold.
The only Deep Impact(JPN) 's available this year were by his many G1 winning sons. The most lucrative of which was the first crop of multiple G1 winner Satono Diamond(JPN), who grossed ¥517,000,000(US$4,767,173) and averaged ¥47,000,000(US$433,379). He even had one filly, Hip 349 go for ¥100,000,000(US$922,083) to Kaneko Makoto Holdings, who had owned her graded stakes-winning half brother Sciacchetra(JPN). Next was G1 Japanese Derby winner Kizuna(JPN), who sold all 14 of his lots for a gross of ¥459,000,000(US$4,232,365) and an average of ¥32,785,714(US$302,311). Real Steel(JPN) had nine of his first crop foals sell during the day, grossing ¥309,000,000(US$2,849,239) and averaging ¥34,333,333(US$316,582). Mikki Isle(JPN), who is already off the mark as a sire with his two-year-old first crop this year, had three lots in the sale grossing ¥120,000,000(US$1,106,500) and averaging ¥40,000,000(US$368,833). G1 winner Satono Aladdin(JPN) grossed ¥74,000,000(US$682,342) from four lots averaging ¥18,500,000(US$170,585). Real Impact(JPN), Deep Impact(JPN) 's first son to sire a G1 winner himself sold two foals grossing ¥64,000,000(US$590,133) and averaging ¥32,000,000(US$295,066). Silver State(JPN), who suffered a career-ending injury before he was able to fulfill what seemed like great potential, had three lots in the sale, grossing ¥64,000,000(US$590,133) and averaging ¥23,000,000(US$212,079). Hong Kong and French G1 winner A Shin Hikari(JPN) had one lot sell for ¥52,000,000(US$479,483).
King Kamehameha(JPN) foals were also missing from the sales, but in his place, his sons' progeny lit up the board, accounting for three more foals over a million dollars. Lord Kanaloa(JPN) had the fourth-highest priced lot in Hip 316, a colt out of Italian G1 winner Final Score(IRE), who was purchased by Ryoichi Otsuka for ¥200,000,000(US$1,844,167). He also hit a high note with Hip 539, the last lot of the sale with another colt, this time from the family of Australian G1 winner Kirramosa(NZ) that Tetsuhide Kunimoto enthusiastically went to ¥140,000,000(US$1,290,917) as the sale came to a close. Overall Lord Kanaloa(JPN) grossed ¥899,000,000(US$8,289,534) for the day and averaged ¥64,214,286(US$592,109) for the 14 lots sold. Hot young sire Duramente(JPN) also had a high priced foal with Hip 436 out fo French G3 winner Queen Bee(FR) that Danox Co. went to ¥145,000,000(US$1,337,021) to acquire. Duramente(JPN), who has already had solid success with his first crop of two-year-olds grossed ¥731,000,000(US$6,740,433) and averaged ¥52,214,286(US$481,459) for his 14 lots sold on the day. Another freshman sire who is showing great aptitude on the track with his two-year-olds this year is Leontes(JPN), and his two lots grossed ¥59,000,000(US$544,029) and averaged ¥29,500,000(US$272,014). King Kamehameha(JPN) 's dirt champion, Hokko Tarumae(JPN), had only one lot in the sale, and it sold for ¥22,000,000(US$202,858). G1 winners Mikki Rocket(JPN) and Lovely Day(JPN) also only had one lot each, which sold for ¥20,000,000(US$184,416) and ¥15,000,000(US$138,312) respectively. The well established Rulership(JPN) grossed ¥173,000,000(US$1,595,205) from seven lots sold, averaging ¥24,714,286(US$227,886).
Three other stallions impressed over the day, Epiphaneia(JPN) who already has a superstar on his hands with Daring Tact(JPN), Kitasan Black(JPN) whose had two foals top a million dollars, and the reliable Harbinger(GB) who had proved to be one of the best imports to stud in a long while. Epiphaneia(JPN) grossed ¥520,000,000(US$4,794,836) from 12 foals sold and they averaged ¥43,333,333(US$399,569). One of his colts, Hip 340, was bought by Mizuki Noda for ¥120,000,000(US$1,106,500). Kitasan Black(JPN) sold all six of his offered lots to gross ¥437,000,000(US$4,029,506) and an average ¥72,833,333(US$671,584). He had two big sales during the day first with Hip 334, a half brother to 2019 Champion Two-Year-Old Filly Resistencia(JPN) that Azabu Shoji went up to ¥190,000,000(US$1,751,959) to acquire. The second was Hip 484, a colt out of British G1 winner Fleeting Spirit(IRE) INZEL Co. bought for ¥110,000,000(US$1,014,292). Harbinger(GB) grossed ¥295,000,000(US$2,720,147) and averaged ¥29,500,000(US$272,014). His highest priced lot Hip 516 a colt from the family of G1 winner Robe Tissage(JPN) was bought by NICKS Co. for ¥94,000,000(US$866,758).
There were five foreign stallions represented in the foal session as well, including the first crop of Deep Impact(JPN) sired G1 British 2000 Guineas winner Saxon Warrior(JPN) whose Hip 323 colt sold for ¥41,000,000(US$378,054) to Toshiya Miyazaki. Undefeated American Triple Crown winner Justify(USA) 's first crop was also represented with Hip 397, and the filly sold for ¥80,000,000(US$737,667) to Koichi Takeshita. Hip 472 was a colt by Lope de Vega(IRE) that Toshio Terada purchased for ¥31,000,000(US$285,846). Hip 375 was a Golden Horn(GB) colt that went for ¥15,000,000(US$138,312) to Capital Systems, who has campaigned two G1 winners this year in Mozu Ascot(USA) and Mozu Superflare(USA). Finally, Hip 333 was a Blame(USA) colt that Ryuichi Minoshima purchased for ¥15,000,000(US$138,312).
The 2020 Select Sale wrapped with the second-highest gross since its establishment, which is no small feat considering the times we live in today. The overall clearance was only a pinch down from last year's record high, making it a successful effort for all those who participated.
The high-end horses sold better than expected, and the mid-range horses went for a little less than many had hoped but despite a global pandemic and recession the both sessions of the 2020 Select Sale ended with nearly all involved feeling both relieved and surprised at the strength of the Japanese thoroughbred market.
The overall success of this boutique sale might not make for a good judge on the overall global market for thoroughbreds since it does not rely much on foreign buyers. With Japanese racing have been able to proceed as scheduled and betting figures strong, the health of the Japanese thoroughbred industry on all fronts takes it out of any global equation. Hopefully, it is a sign that the world can get back on its feet and running smoothly as we navigate these unprecedented times.
$1USD = ¥108.45JPY
Values all pre-consumption tax.
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Satomi Oka (Ms)
Satomi Oka Bloodstock Pty Ltd
E-mail : satomi@bloodstock.jp
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