OFF THE RECORD #41

Syndication Offers Open Doors for Newcomers in Horse Ownership

All kinds of records tumbled and averages were up at the last three Bloodstock SA live auction sales, with headlines highlighting ‘high prices,’ a ‘powerful buying bench,’ and a ‘buoyant, enthusiastic market’. The 2024 National Yearling Sale achieved an astonishing aggregate of R200 million. July’s KZN Yearling Sale saw an impressive hike in the average price to R214,698 per lot, while last week’s National Two-Year-Old Sale also recorded a significant increase in the average price per lot, rising from R244,631 to R281,912.

While healthy sales figures signal positive industry momentum, last week’s major buyers made it tough for smaller investors and stables to compete in the auction ring. One Cape trainer described the prices as ‘insane,’ while a KZN trainer, who had shortlisted seven lots and typically secures at least one, found himself empty-handed this time.

Michael Holmes, CEO of Bloodstock SA, encouraged those who missed the boat to get involved via racing syndicates. He said: “Syndication is the best way for individuals from all walks of life to obtain shares in horses. This is why the concept is popular around the world and has been catching on here in recent years. There have been Kentucky Derby winners with dozens of small owners in their ownership syndicates.”

Following up on lots passed as ‘unsold’, offers another potential avenue, though it can be a more complex exercise that carries no guarantee of success. Breeders often negotiate post-sale deals directly on the sales grounds to avoid the hassle of transporting horses back to their farms. Tracking down those horses that slip through the cracks requires initiative and persistence, possibly involving several phone calls. However, you might find well-bred, unclaimed ‘babies’ at stud farms awaiting new owners. Some breeders also offer lease deals, but these are typically on a first-come, first-served basis and also require a bit of luck.

There were a number of smaller yards that managed to ‘pinch’ a few two-year-olds from under the noses of the powerful players. There are shares available in young thoroughbreds bought from this most recent sale and other sales, as detailed below. Packages are customised by their respective trainers to suit budgets, and owners new to the sport are welcome to get in touch.

Randjesfontein-based Corne Spies secured seven lots and said: “We had a terrific sale, things just fell into place and our bids landed, we got what we wanted.” Spies, his father Tobie and son Xander use a points system to select potential purchases and, with consistent success, they’ve never changed or tweaked their methods. They have shares available in Lot 224, a Sandown-bred colt by Soqrat and Lot 332, a Rafeef colt from Winterbach Stud.

Above:  Lot 224 Unnamed b.c. (Soqrat - Mohallela) secured by Spies Racing

Spies said: “The Soqrat colt is a super specimen. His coat was all hairy and I thought we’d buy him for a small amount of money, but others obviously saw his potential and he went for R325,000. Still, it was money well spent, and I think he won’t take long in coming to hand. He’s a half-brother to Mike de Kock’s runners Arividicio and Beamonesque. The Rafeef colt is a big fellow, like our William Robertson, with lots of scope. He is a half-brother to Val D’Orcia, who was very fast and won the Grade 2 Post Merchants.”

Above: Lot 259, unnamed ch. f. (Pathfork - Razzle My Tazzle) secured by Nathan Kotzen

Nathan Kotzen, whose recent success with Pathfork’s son Royal Victory is well documented, bought Lot 259, a first filly foal by the same sire and the 10-time winning mare, Razzle My Tazzle, by Carpocrates (Storm Cat). This is an interesting and potentially very shrewd purchase, because there are more than 50 global stakes winners by Distorted Humor line stallions out of Storm Cat line mares. This one also has a host of high-profile sires reflected in her fourth and fifth dams, which means nothing to some but plenty to those who like to dig deep into pedigrees. Kotzen noted: “At this point there is 100% shareholding available. She’s a well put-together chestnut filly with everything in the right places. She was raised in the Cape by Inel Bekker at Volmoed Stud, who knows what she is doing. I have high hopes for her.”

On the other side of the country, Kotzen’s cousin, Glen Kotzen, is tailoring share packages for new owners in three promising buys. Lot 123 is a colt by Hawwaam from the five-time winner and multiple Listed-placed, Favour’s Pride. Lot 136 is a colt by Elusive Fort. He’s a smart-looking second foal of the well-related Gale Force, a young mare from a bold black-type female line. Lot 190 is a colt by Ideal World, predominantly a sire of stayers, from a five-time winning own sister to champion sprinter Talktothestars, an interesting cross. They will all be trained at Kotzen’s Woodhill Estate.

Above: Lot 154 Captain's Pride b.f. (Captain Of All - Hidden Nest) signed for by Louis Goosen

Summerveld-based Louis Goosen, who enjoyed an excellent 2023/4 season with his small string, has 30% available in a stunning Captain Of All filly out of a Western Winter mare (Lot 154), from Riverton Stud. He paid well above her sire’s average at this sale, but for a good reason – she has the looks and conformation and gives Goosen goosebumps. He said: “I see speed here, and I like that. Her full-brother Captain Lannister was talented. He won an early sprint and was Grade 1-placed.” Last season, Goosen won a BSA Bonus race over 800m with Ibhele, an R80,000 buy by Captain Of All, who also ran a Grade 3 place and is on the comeback trail after a rest.”

Another Summerveld trainer, MJ Odendaal, said that he was looking forward to his best season ever, because he has a number of exciting three-year-olds including a Skitt Skizzle colt named Heart To Heart. “On the strength of what he has shown us, and the fact that they are physically pleasing, we bought two more colts by Skitt Skizzle at the Two-Year-Old Sale, both from Bosworth Farm. They were raised tough and that’s good. Bosworth were champion breeders in their heyday and they still breed solid horses. Lot 12 is Wander Skitt, bred out of a Dynasty mare with plenty of potential and Lot 143 is Glow Beam, he’s out of a half-sister to Odd Rob.”

Odendaal’s buys are selected by veteran horseman Braam Malherbe, responsible for picking the likes of promising handicapper Addabar and the recently sold, Grade 1-placed, The Specialist. “Uncle Braam has a great eye, and he has proven himself over and over. I believe the Skitt Skizzles will develop into nice racers and we have 30% left of both.”

Above: Lot 232 Penny Pretty b.f. (Willow Magic - New Money) secured by Lola Crawford

Lola Crawford, whose daughters Taryn and Haley run her small barn at Summerveld, saddled six winners and 22 places from just a handful of runners last season. They bought a filly by Act Of War (lot 91) and a filly by Willow Magic (Lot 232), for R70,000 and R60,000 respectively. Lola said that there were shares available in both. She said: “They were well bought, we can’t believe we got them for such small amounts.”

The Crawford family is known for their ‘TLC’, patience and success with problematic horses, and Lola added: “It’s nice to have new, unraced runners to work with as we’ve had to make do mostly with ‘patch-ups’ in the past. The Act Of War filly has Triple Tiara winner War Of Athena right up there in her second dam. She was named after a character in the old TV series, ‘Major Dad’ and has a beautiful temperament. The Willow Magic filly is beautifully balanced with a nice action. She is the second foal of a Captain Al mare whose first runner is a two-time winner, so she could be anything. Both have good legs, which is always a plus.”

Above: Lot 199 Liwa's Flight (Global View - Liwa) secured by Willie Pieters' Classic Racing (Pty) Ltd

Former trainer Willie Pieters has made a welcome return as bloodstock consultant and syndicate manager with Classic Racing (Pty) Ltd. Pieters bought Lot 199, Liwa’s Flight, a filly by Global View out of a half-sister to champion stayer, Future Pearl, and from a family of highly accomplished runners including William Longsword and Victory Moon.

Pieters commented: “Our first eight buys were made with speed and precocity in mind. Most new owners like to see their horses run as soon as possible, they get impatient. But with this acquisition, we’re aiming at more discerning buyers. Liwa’s Flight is a magnificent filly from a super family, she will take some time to mature but will be worth the wait.”

Liwa’s Flight will be trained by Darryl Moore at Summerveld and Pieters said: “Darryl is an under-rated horseman and a team player. He values input. I enjoy interacting with him and with our syndicate members. Best of all is I don’t have to get up at 4am like I used to do when I was training myself!”

Classic Racing’s first runner JP’s Palace (Potala Palace) finished third on debut on 11 August. He was named after Jean Pierre Du Sart, a first-timer owner who took up shares in four of the company’s original purchases.

Pieters’ daughter, Jodi Ambrose and her mother, Sue Pieters, have moved their well-known pre-training concern, Precentor Place, from KZN to a property near Kyalami. Multiple champion trainer Sean Tarry is their biggest client, and Jodi’s Haraka Bloodstock has top filly Rodeo Drive and older runners Woman Of Fame and Jordan in training with Tarry at Randjesfontein.

Above: Jodi Ambrose

Ambrose, who won the 2011 SA Showjumping Championships on Rafika and was chasing another title on Callaho Casco Grey earlier this week, takes as much of an interest in racing as she does in showjumping. She has brought members of the showjumping community into her racing syndicates and said: “The showjumpers love horses, that’s the common denominator.”

Active at the August Sale, Haraka Bloodstock bought Lot 129, a Flower Alley filly, for trainer Adam Azzie. Lot 274, a United States filly, will be trained by Tarry. Ambrose, who selected the impressive Rodeo Drive from commented: “We have 50% available in both fillies, exciting prospects. The plan is for all Haraka horses to find loving homes and second careers once they come off the racetrack.”

Turffontein trainer, Robyn Klaasen, also hails from a showjumping and polocrosse background. She has a good thing going with her newly formed Ladies Syndicate, for which 100 shares of 1% each (or multiples) were made available in her National Yearling Sales purchase, Bright And Brazen, a daughter of Erupt.

Above: Lot 143 Bright And Brazen (Erupt x Flowing Gown) secured by Robyn Klaasen

Klaasen said: “I aimed my marketing at the showjumping community via social media and received a really good response. Bright And Brazen is a beautiful filly with substance and she has a blonde mane, a big white blaze and two white socks. She makes a lot of appeal and is ideal for this syndicate, which is for ladies only as the name says. I think we’ll have a lot of fun with her.” There are 30 shares left in this eye-catching filly, an opportunity still for entry-level buyers to secure participation at a low fee that covers her purchase price, training fees and related costs for her full career.

Milnerton-based Adam Marcus, who bought at the Cape Winter Sale, is offering shares in Three Tulips (by Master Of My Fate) and Miss Attitude (by Hawwaam) on behalf of his P3 Syndicate—short for 'Pride, Power, and Precision.' Both horses were acquired well below their market value, when compared to the averages achieved by their sires at the National Sale and the August Two-Year-Old Sale.

Marcus said: “Three Tulips represents the Jet Master x Var cross—she walks like a leopard and looks like the real deal. Miss Attitude is classy and well-conformed, by an exciting new sire.”