Tag: 2-year-olds in training sales

The X-Ray Files: Ciaran Dunne

Ciaran and Amy Dunne's Wavertree Stables is perennially one of the leading consignors of 2-year-olds in the country, but their process for buying pinhooking prospects at the yearling sales changed dramatically with the advent of the sales repository over two decades ago.

“We started buying yearlings before the repository,” Ciaran Dunne said. “Back in those days, you had to shorten down your vet list because of the costs involved. There was very little that we couldn't live with because we might vet, at the very most, four horses a day. So if you were very picky, you didn't get anything. Back in those days, sesamoiditis wasn't as big a deal, there was no such thing as ultrasounds and soft tissue scans. So very early on we learned to live with a lot of things. And because of that, we trained horses who had various issues. We saw a lot of what horses can live with and what horses can't live with.”

Dunne said his decisions at the yearling sales are generally based more on the individual in front of him than on the expansive vet reports available today.

“Some years, I will say I'm not going to buy any horse that has any degree of sesamoiditis above mild,” he explained. “But if I find a horse I really, really like and he's got moderate or severe sesamoiditis and I still like him, I'll probably still buy him. I think if we allow the veterinary findings to dictate what we buy, then a lot of times you end up buying horses you are just OK on physically and you walk away from the ones you love because they have some little issue that might never have been a problem. I take the tact that I would much rather buy one that I love that has a little this or a little that than buy one that I'm just so-so on because he has a clean set of X-rays.”

The Wavertree team doesn't adjust its process just because they are predominately shopping for pinhooking prospects, rather than racehorse prospects.

“I have people tell me, 'He'll be OK to race, but not to pinhook,'” Dunne said. “Ultimately, they are all going to have to be racehorses. And I can't be a future purchaser's veterinarian. I can't say what they will like and what they won't like. There are plenty of horses that come with veterinary findings that are of no consequence to me, but the buyers run away from and hide. And then there are horses that, when we get the X-ray report back after the breeze show, I think we are in trouble here and nobody else seems to have a problem with it.”

Buyers relying solely on a vet report while neglecting to consider the individual may be missing the bigger picture, according to Dunne.

“I'm not going to say that everything with bad X-rays or a bad ultrasound will go on and run,” he said. “I think everything is relative. Some horses who have issues, if they have a lighter frame they can maybe live with them, whereas with a heavier-bodied type, you'd be less inclined to give them a chance. I think people use the vet reports to weed horses out, but I don't think you can look at a vet report and say this horse is no good.”

He continued, “In the same way, when people read X-rays or  read soft-tissue findings and aren't physically there to look at the horse, I don't think they can give a fair judgement on whether this is representative of what the horse actually is. Trying to evaluate a horse off a piece of paper in terms of radiographic findings or trying to evaluate a horse digitally from 500 miles away, I don't think that works. I think there has to be a little common sense. Context matters.”

When Dunne switches from buying yearlings to selling juveniles, he sees a difference in how potential buyers utilize vet reports.

“I think they are harder on the 2-year-olds than they are on the yearlings with the vetting,” Dunne said. “We've seen a lot of yearlings sell for a lot of money with radiographic findings that really raised our eyebrows. Whereas the slightest thing in the 2-year-olds chases them away. Which seems to me to be backwards. Maybe it's that people [buying yearlings] think they have enough time to fix anything. I think they are looking for ghosts.”

Watching horses perform on the racetrack at a 2-year-old sale should provide buyers with more confidence than it generally seems to, according to Dunne.

“It amuses me when a horse goes up and works well enough and gallops out well enough to make them come down to see him and he comes out and he shows himself well and then they are going to come up with this huge problem that he might have,” Dunne said. “I don't know what they think we are that we would be able to mask something like that. At the end of the day, if you look at the scratch rate at 2-year-old sales, the ones that have problems are eliminated before they get to see them. And usually the ones that work good are the ones that end up being good horses. Again, you have to put the whole thing into context. How considerable can it be if they just performed at that level?”

Dunne stressed what he sees as the importance of potential buyers making decisions based on the findings of–and consultations with–their own veterinarians.

“I hate the vet reports,” Dunne said. “I hate showing the vet report because I feel like people, when they ask to see the vet report, are just looking for a reason not to go vet them. Whereas if they just go vet them, their veterinarian may not have an issue with the ink that's on the page. When we buy yearlings, I don't look at vet reports. If I like the horse well enough, I look at my vet's interpretation and I live or die by his opinion. I think everybody should do their own homework.”

Click to read previous The X-Ray Files: with Tom McCrocklin and David Ingordo.

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Blame Colt on Top as Numbers Dip at OBS June

OCALA, FL – The Ocala Breeders' Sales Company's June Sale of 2-Year-Olds in Training continued its measured pace Wednesday with figures falling off the auction's record-setting 2022 renewal, while a colt by Blame brought the day's highest bid of $485,000 when selling to bloodstock agent Clay Scherer. The session-topping colt, who was consigned by Wavertree Stables, was one of four to sell for $200,000 or more during the day, bringing the total to reach that mark so far at the sale to seven. Eleven had reached that mark at the same point in the 2022 auction.

Through two sessions of the three-day sale, 410 juveniles have sold for $14,922,600. The average of $36,397 is down 5.1% from the 2022 figure of $38,358–which includes post-sale transactions–and is down 8.9% from the $39,961 close-of-day average from a year ago. The median of $20,000 dipped 13% from last year's final figure and 20% from the end-of-day figure.

The cumulative buy-back rate stood at 21.9% after the fall of the last hammer Wednesday.

At this same point a year ago, with 125 horses reported not sold, the buy-back rate was 22.9%. With 32 additional post-sales transactions, 452 horses had sold for $17,337,600 and the two-day final buy-back rate was 17.1%.

Wavertree Stables, which sold two of Wednesday's top five lots, was the session's leading consignor.

Following a season of polarized results at the 2-year-old sales, the June figures were no surprise to Wavertree's Ciaran Dunne.

“It's not anything we didn't expect,” Dunne said. “For what are perceived to be the top-end horses, there are plenty of people there. For everything else, we are just fighting over scraps. The attendance is probably a little disappointing, but I think that is reflective of small fields and super trainers. It's harder for the smaller trainers to drum up clients, so it makes it even harder for them to come here and buy. A thousand horses is a lot of horses in the June sale. I think they are doing very well to have the clearance rate they have.”

The OBS June sale concludes with a final session beginning at 10 a.m. Thursday.

Scherer Takes the Blame

A colt by Blame (hip 430), who worked a co-bullet quarter-mile in :20 3/5 during last week's under-tack show, will be joining the barn of trainer Brad Cox after bloodstock agent Clay Scherer signed the $485,000 ticket to acquire the youngster on behalf of an undisclosed client Wednesday at OBS.

“He was a big, strong colt who worked fast, did everything like you want to see here and he acted fresh every day,” Scherer said of the juvenile's appeal.

The dark bay colt is out of Soul Spirit (Quality Road), a daughter of multiple Grade I-placed Soul Search and a half-sister to graded winner Journey Home (War Front). He was purchased by Ciaran Dunne for $210,000 at last year's Keeneland September sale and was making his first trip through the sales ring this year with Dunne's Wavertree Stables consignment.

“He's big, tall and long legged,” Dunne said following the colt's bullet breeze last week. “He looks like a horse who will go two turns easily. So the fact that he has that speed makes you think he's going to be very dangerous going long.”

Of the colt's yearling price tag, Dunne admitted, “It did seem like a lot, but he was a beautiful yearling. The trend at the 2-year-old market is that they want big, two-turn horses and if you can get a horse like him who looks like he'll go long to show the kind of speed he showed, then you're going to get paid, more so than with the ready-made spring 2-year-old types. So it was a lot of money for him, but he was a beautiful horse.”

Scherer said the June sale has become an increasingly reliable source of good horses, pointing to 2021 graduate and multiple graded winner Adare Manor (Uncle Mo) who won Saturday's GII Santa Margarita S. at Santa Anita.

“Every year, people have been putting good horses in June and good horses have come out of June every year,” he said. “Adare Manor just ran off the screen. There is always a good one here.”

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Hard Spun Colt ‘Rockets’ To Top At Workmanlike OBS June Opener

OCALA, FL – The Ocala Breeders' Sales Company's June Sale of 2-Year-Olds in Training duly marched through its opening session with a $450,000 son of Hard Spun one of three horses to top the $200,000 mark Tuesday in Ocala.

At the close of business Tuesday, 192 juveniles had sold for a gross of $7,110,400. The average of $37,033 was up from the 2022 session's final average of $34,431–which included post-sale transactions–but was down from the end-of-session figure of $38,628. The median of $20,000 dipped from the final figure of $22,000, as well as from the end-of-session figure of $25,500. With 74 horses reported not sold, the session's buy-back rate was 27.8%.

Before the inclusion of post-sale transactions, last year's opening session of the June sale saw 184 head sell for a gross of $7,107,500. The average was $38,628 and the median was $25,500. With 90 horses reported not sold at the fall of the day's last hammer, the 2022 opening-session buy-back rate was 33.1%. That figure improved to 20.7% as a further 33 horses sold post-sale, bringing the final gross to $7,756,400.

Midway through Tuesday's session, Frank Fletcher, bidding alongside agent Donato Lanni, went to $450,000 to acquire a son of Hard Spun from the de Meric Sales consignment. Late in the day, Fletcher returned to acquire the day's second-highest priced offering, going to $230,000 to acquire a colt by Malibu Moon from Gene Recio's consignment.

The session-topper led a day of mixed-bag results for de Meric Sales, which sold all 10 of its horses through the ring for $988,700 and was the session's leading consignor. The consignment had results everywhere from the session-topping $450,000 price tag down to $3,700.

“We saw a little bit of everything today,” admitted Tristan de Meric. “It's definitely a little spotty at best, but there is still some demand for the more quality horses. There is a bit of action in the lower-middle, but not as much as we'd all like to see for the number of horses here. I think it's basically typical of the June sale, but maybe a little more magnified this year.”

The Hard Spun colt was making his first sales appearance of the year, an angle which has worked well for the consignment in the past, according to de Meric.

“He was sent down to Florida and started in January and we always thought of him as a horse for this sale,” de Meric said. “We've found that a fresh horse in this sale can stand out. People always like to see one for the first time. And that horse stepped up and did everything right. We have done well with horses like him at this sale and, even this year in a spottier market, we are happy with this result and best of luck to Frank Fletcher and Donato.”

The OBS June sale continues through Thursday with sessions beginning daily at 10 a.m.

Fletcher Gets His Hard Spun Colt

Frank Fletcher flew down to Ocala Tuesday morning with the specific intention of purchasing a colt by Hard Spun and the Arkansas native did not go home disappointed, securing hip 130 for $450,000 from the de Meric Sales consignment midway through the first session of the June sale.

“I just flew down this morning and Donato Lanni showed him to me,” Fletcher said. “He liked his work, he likes the way he's built and he likes his speed.”

Bred by Reiley McDonald's Athens Woods, the chestnut colt is out of stakes-placed Mine All Mine (Belong to Me) and is a half-brother to stakes-winner Athens Queen (Majestic Warrior). The juvenile worked a furlong last week in a co-bullet :9 4/5.

 

 

 

“We are always looking for 2-year-old colts,” Fletcher said. “And it's exciting to get him. I always like coming down here. I love this city and I love this sale. I've been coming here for 25 years.”

Fletcher famously names all his horses with some form of Rocket or Rockette in their names. Does he have a name already picked out for this colt?

“He will be something rocket,” Fletcher said with a laugh. “I had a horse down here earlier this year in the sale and she worked so well, I withdrew her from the sale and I named her Almost Gone Rocket.”

Fletcher had to see off a determined internet bidder to secure the colt, but said he never had a doubt that he was going to come out on top.

“We were going to get him one way or another,” he said. “I flew down for him. So I'd be very sad if I was going home without him.”

Fletcher said no trainer had been picked out for the youngster.

Goodman Has High Hopes for First Pinhook

Billy Goodman, whose involvement in racing started almost by accident and evolved into a full-on passion, is hopeful his first foray into the juvenile pinhooking market proves just as successful when he and partner Caio Caramori send a colt by American Pharoah (hip 1030) through the OBS sales ring with the SBM Training and Sales consignment Thursday.

Goodman purchased the colt for $100,000 at last year's Keeneland September sale. He is out of Jeweliana (Smart Strike), a daughter of multiple graded winner Roshani (Fantastic Light) and the dam of $775,000 juvenile Nile River (American Pharoah).

“He just had all the right parts,” Goodman said of the colt's appeal last fall. “He was a May 5 foal and a little immature, but I kind of looked at him like, if he just expands exactly as he is right now, he's going to be an absolute beast of a horse. He had an incredible walk and an incredible mind on him. And all of those things came to fruition with him. He blossomed into this incredible specimen and he's got a mind on him like a 4-year-old stakes horse.”

Goodman had never even touched a horse when he decided to make a major pivot in his life some 12 years ago.

“Back in 2011, I was managing an Irish pub in Miami for a childhood friend,” he explained. “Things just weren't going well and I didn't enjoy it, so I decided to stop. I got a license at Gulfstream and went on the backside and asked for a job. I got a job walking hots.”

Goodman, who began working for trainer Peter Gulyas in Florida, eventually made his way to Kentucky and the barn of trainer Todd Pletcher.

“I worked for Todd for six years as a groom,” Goodman said. “I was a hotwalker and then a groom and within two months we had two horses in the Derby and My Miss Sophia was second in the Oaks.”

Of his experience with horses before that, Goodman admitted, “None. Zero. Never touched a horse. I always knew that I would at some point. Horses were in my system. I was 45 and I said, 'All right, it's time to do this.'”

Goodman purchased his first horse, Eternal Heart, for $50,000 at the 2018 Fasig-Tipton Midlantic October Sale. Now six, the West Virginia-bred mare is still in his care.

“I was just bathing her when you called,” Goodman said of Eternal Heart. “This is going to be her last year racing. I bought this filly and gave her to my friend Caio Caramori, who is a trainer. I went to the barn to help out and I wound up working for him. And I'm still working for him and still buying horses.”

Goodman purchased a few weanling-to-yearling pinhooks and enjoyed success on a small scale before deciding to put together a partnership to make his six-figure investment in an American Pharoah colt last year.

“This is the first decent horse that we put a little money together and bid $100,000 on him,” Goodman said.

The colt was originally targeted at the Fasig-Tipton Midlantic May sale, where he was to sell under the Goodman Caramori banner, but the partners decided to call an audible earlier this year.

“We broke him and trained him at the Classic Mile right there in Ocala,” Goodman said. “We spend the winters down there. We were going to consign himself ourselves at Timonium, but he just got shins. I was battling shins because we got a late start on him. I could have brought him there, but I didn't think it was right for the horse. So we backed off on him a little bit and sent him to Susan Montanye. She's got him now because I had to go back to Lexington. We have 45 horses here.”

The colt proved the extra time was worthwhile with a :10 flat work at last week's under-tack show.

“Susan took care of his shins and didn't do too much with him and he went over there and went :10 flat, :20 3/5 and :33 2/5,” Goodman said. “He's just a beast of a horse. He really didn't train all that much and did that. It was kind of freakish what he did.”

Goodman expects to be back in action at the upcoming yearling sales.

“I am going to be buying in July, hopefully, and go to New York and September,” he said. “We will probably have 40 horses down there in Ocala, total, but we will probably put together four or five [to pinhook] with this group, if this horse sells the way we think he will. And I'll try to build a little business from there, buy our own and do it like that.”

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Shah Bringing His ‘Best’ to Del Mar

Kaleem Shah went to $1.8 million to acquire a pair of powerful-looking :9 4/5 breezers from the OBS March 2-Year-Old Sale earlier this spring. Both are expected to be in action this summer at Del Mar.

Arman (Bolt d'Oro), a $600,000 OBS March graduate and the first of the highly regarded duo to make the races, debuted with a visually impressive 'TDN Rising Star' performance at Churchill Downs June 23. Named after Shah's son, the bay is being aimed at the GIII Best Pal S. Aug. 14.

Shah, ahem, clearly made them an offer they couldn't refuse extending to a sale-topping, $1.2 million for OBS March boss Don Corleone (More Than Ready). He is nearing his debut in a spot still to be determined at the seaside track.

Both purchases were advised by Shah's primary trainer Simon Callaghan and bloodstock agent Ben McElroy.

“One thing that I've known is money does not buy you love, and money doesn't buy you a fast horse,” Shah said with a laugh. “Having said that, it all remains to be seen.”

Drawn widest of all in post 10, Arman had his work cut out for him after breaking toward the rear going five furlongs in his unveiling. Hung out in a four-wide fourth heading into the far turn, the 8-5 favorite began to rev up with a sweeping move approaching the quarter pole. He gained command as they straightened for home and leveled off nicely after a couple of left handers from Martin Garcia to win going away by 2 1/2 lengths. He earned a respectable 74 Beyer Speed Figure for the effort.

Shah–the founder and president of the Virginia-based CalNet, which handles intelligence analysis and telecommunications for its clients, including the U.S. federal government and military–made a special trip to Louisville to be on hand for Arman's unveiling last month.

“He's named after my son, so I had to be there,” Shah said. “He'll be 24-years-old soon and is doing his masters in cybersecurity at George Washington.”

Shah added of the four-legged Arman, “Most of the pundits thought that coming from the outside post at Churchill was a difficult task, but he got it done that day, so on to the next one. He's pointing to the Best Pal. We shall see what he does.”

Bred in Florida by Loren Nichols, Arman RNA'd for $52,000 as a yearling at OBS October. Offered on behalf of Nichols by Top Line Sales at OBS March, Arman brought $600,000 from Shah after motoring through an eighth in :9 4/5.

Already one of eight winners for promising freshman sire Bolt d'Oro (by Medaglia d'Oro)–currently ranked a narrow second by earnings via TDN Sire Lists–Arman is out of Beautissimo (Uncle Mo), an unraced half-sister to the stakes-winning and multiple graded-placed Two Thirty Five (Stay Thirsty). He hails from the extended female family of champion Halfbridled (Unbridled).

Don Corleone, meanwhile, topped the two-day OBS March Sale following a much-buzzed about :9 4/5 breeze from the Wavertree Stables, Inc. (Ciaran Dunne), agent, consignment. Bred in Kentucky by WinStar Farm, LLC, he was previously a $120,000 KEESEP yearling purchase by Lehigh Bloodstock, a pinhooking partnership led by Dunne. The dark bay is out of the unraced Indian Charlie mare Broad Spectrum, a half-sister to recent GIII Sanford S. winner Mo Strike (Uncle Mo). Don Corleone breezed four furlongs in :49 (32/61) at Del Mar July 21, his seventh workout since early June.

“Obviously, you've got to go one race at a time, and you don't want to get ahead of yourself,” Shah concluded. “We'll see how this all pans out. But, certainly, it's promising for now.”

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