Optimism Prevails as Yearlings Go Back on the Market at Fasig-Tipton July Sale

LEXINGTON, KY – The yearling sales season kicks off Tuesday with the Fasig-Tipton July Sale of Selected Yearlings at Newtown Paddocks in Lexington. Bidding at the one-session auction begins at 10 a.m.

“We're optimistic,” Fasig-Tipton President Boyd Browning said of expectations for the sale. “We've seen a very solid 2-year-old marketplace throughout the spring. There is demand for quality horses, certainly plenty of interest. Racing is pretty good right now.”

On a balmy Monday morning in Lexington, buyers were out in force and consignors were busy showing yearlings to a strong mixture of pinhookers and end-users.

“Hopefully it will be the same as usual,” Paramount Sales' Gabriel Duignan said of expectations for the July market. “Racing is very good, purses are great. The traffic seems to be busy here. The pinhookers had a good year and this sale is driven by pinhookers. So I am very hopeful it will be a good sale.”

Brian Graves, overseeing the Gainesway consignment Monday morning, agreed activity has been brisk at the sales barns.

“It's been busy,” Graves said. “There are a lot of people here. It will be interesting to see how many are end-users, but the market is alive and well, that's for certain. Most of the horses in the barn have been vetted well before they sell tomorrow. Usually, in a different climate when it's not so busy, you are waiting right up to the end to see some action. It seems like people are here to participate. I would expect it to be a fair market, whether it's as good as it was last year or not remains to be seen, but it will be healthy.”

Canceled due to the pandemic in 2020, the July auction rebounded with a strong showing in 2021, setting its fourth highest average and second highest median. A filly by Into Mischief brought the auction's top price when selling for $800,000.

Following a spring of competitive results at the 2-year-old sales and with purses at record levels, a strong yearling market would seem a safe bet, but volatility in the stock market–and in the overall economy–looms in the background.

“[Economic conditions] are a little concerning, but our racing is so healthy at the moment and I think there is a shortage of horses,” Duignan said.

Graves said, “The thing about horse people is they can't just take up plumbing. They just can't take up a different profession. They make their living by buying, developing and selling horses. Whether the horse market trails the stock market and it's off 10 or 15%, it could happen. What is important to me is that there is healthy trade. That you can take a horse and turn it into cash. And that clearly looks like it will be the case here. I don't see any big red flags.”

The July sale comes just a week after the implementation of the Horseracing Integrity and Safety Act and the new authority is another positive for the industry, according to Machmer Hall Sales' Carrie Brogden.

“I think everyone has to be aware of what is happening in the world-wide economy and in Ukraine and food prices, etc., but I think there are a lot of things to be very excited about,” Brogden said. “Obviously, there are some big changes in our industry with HISA coming online, but I personally am very optimistic that, after the changes shake out, we are going to be better and stronger. For me, I hate that the foal crop keeps shrinking. That means less product, fewer horses to race, but I am hopeful that all the changes, even though in the short term it may be hard for people to get through, ultimately we are going to get through it a lot stronger and reverse the trend on the other side.”

A total of 302 yearlings have been catalogued for the July sale, with 39 withdrawn as of Monday late morning. The auction opens with an offering of 88 youngsters by first-crop sires. The group of new stallions includes: Audible, Catalina Cruiser, Catholic Boy, Copper Bullet, Demarchelier (GB), Enticed, Flameaway,  Maximus Mischief, Mitole, Omaha Beach, Preservationist, St Patrick's Day, Vino Rosso, World of Trouble, and Yoshida (Jpn).

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‘We Were Willing To Work – And To Take A Risk’

Year after year, the thread of his horsemanship snags another big prize in the web of his many different interests. And this spring Gabriel Duignan is back on the GI Kentucky Derby trail—this time as breeder, his Springhouse Farm near Lexington having started Forbidden Kingdom (American Pharoah) along the road that has already taken in two of the big Californian trials, latterly the GII San Felipe S. at Santa Anita last weekend. 

Before you ask: disappointingly, there's no real story behind the nickname. When he started as a kid at Airlie Stud, his predecessor had for some reason been known as “Spider”, and the guy in charge just couldn't keep his real name in his head. On the third day he gave up, and announced that Duignan might as well be Spider too. “Though I was a skinny, leggy young guy, so it suited a bit as well,” notes Duignan.

But if that particular line of inquiry turns out to be something of a wild goose chase, then at least we can now formally acclaim Duignan and his wife Aisling as the ultimate such quarry.

Last week they were profoundly touched to return to their native land to be jointly saluted by the Irish Thoroughbred Breeders' Association with the “Wild Geese” Award, made to compatriots who fly the tricolour in exemplary fashion on foreign fields.

They were amused, too, by some of the themes of a video tribute. Repeated reference was made by friends and colleagues, with an air of perplexity, to Duignan's roots in rural Co. Leitrim. (“Okay, so there wasn't a huge horse culture,” he concedes. “But surprisingly enough, there were always a few horses around.”) Paramount's Lesley Campion noted how well the couple complemented each other: “Aisling's smart, hard-working, astute; just a lovely, decent, kind, welcoming person. And, um, Spider is a good dancer. And is tall. And is from Leitrim.”

But the real cornerstone was a contribution from John Magnier, who employs Aisling as Director of Bloodstock at Ashford Stud.

“Spider, I knew you were clever from the time you were working for Tony Ryan and did so well for him,” the Coolmore boss said. “But when you got married to Aisling that confirmed how clever you were.”

Magnier recalled Aisling leading the mares out “as a kid” in all weathers: “Dressed up in rain gear so you could hardly find her. But she always stood out, really, and it's not a surprise to me that she's reached the heights that she has.”

“Those were lovely words he said,” her husband says. “To be fair, I think they've always had a great relationship. Look, it was a beautiful award to receive, the ITBA did a great job putting on the whole night, and the whole thing is very gratifying really. It's always nice to be recognised by your peers.”

Over the years, of course, Kentucky has become something close to a 33rd Irish county. But when Duignan first arrived in 1985, recommended to Bill O'Neill at Circle O Farm, he was only just behind a pioneering wave of migrants led by the likes of the late Gerry Dilger, himself winner of the Wild Geese Award in 2018. It's fitting, as such, that the bursary fund collected in Dilger's memory should be devoted to fresh cycles in that ongoing, transatlantic exchange of enthusiasm and experience, with two young women from Ireland set to arrive for their belated stint at Springhouse.

“Because of lockdown, unfortunately we weren't able to bring them over as planned last year but we're looking forward to the two girls coming over in the spring and that'll kick it off,” Duignan says. “An American student is also being sent to the Irish National Stud. It's a great thing to give young people the kind of experience that we had. Gerry was such a super guy, kind of the godfather to us all over here, and I'd like to think his fund will be around a long time into the future.”

Opportunities like this, and of course the Godolphin Flying Start, were not available when this wild gosling first took wing, and the Irish expatriate community in the Bluegrass duly owes a great deal to the informal impetus provided by John Hughes, in Duignan's own case, and Michael Osborne, in so many others.

“I'll forever be indebted to John Hughes,” Duignan stresses. “He was head vet at Airlie while I was there, and took a personal interest in sending me over here and setting me up with a job at Circle O. He was a great guy. Himself and Dr. Osborne were the two that looked after a lot of young Irish people at the time, and sent us on our way.

“None of us had very many dollars in our back pockets when we got here. But I guess Ireland was in pretty bad shape at the time. We arrived with very little expectations, but we were willing to work and grateful for any opportunities we got. And then there was a little of that entrepreneurial spirit as well. When we did make a few dollars, we were prepared to take a risk and invest in a horse. It's a fantastic community: a great bunch of people, very close, almost like family really. Everybody pulls for each other.”

For all the banter about his upbringing in a relative backwater of the Turf, Duignan came from a farming family and, like so many compatriots, exported an engrained, instinctive stockmanship.

“I was just one of those kids born with a love of horses,” he says. “My brother Cahill was the same, and we were sent to a local guy who broke horses. I started with the ponies and gymkhanas, but figured out pretty early on I wasn't good enough to make a living out of that. So I transferred over to Thoroughbreds at Airlie Stud. I do think a stockman is a stockman, absolutely: if you've an eye for a horse, you'll have an eye for cattle, for any animal really. And that love for the land is very closely related too. You can learn, you can help yourself, but I see American kids that grew up on a farm, and it's just the same: it gives you a little edge.”

That raw material couldn't have been better shaped than by O'Neill, who had managed Bwamazon Farm for Millard Waldheim before taking on Circle O.

“He was a great mentor to me,” Duignan recalls. “He was a proper, old-fashioned Kentucky hardboot. It was hard work, no messing around, but I learned a lot off him. And actually I've just been lucky through life, working with a lot of good people. Like David Garvin, who gave me the opportunity to start buying horses for him at Ironwood, a beautiful farm I managed for him at Bowling Green. And then Dr. Ryan took me on [as president of Castleton-Lyons]. Another great man: he pushed you, he had great foresight. I learned a lot of the business part of things through him.”

And that element would be critical to Duignan's development of such a diverse portfolio: farm owner, breeder, pinhooker and, in 2001, founding partner of Paramount with Pat Costello. They had already been the core investors, along with Ted Campion, in a pinhooking partnership they called The Lads.

“I've always been lucky to have great partners,” Duignan says. “Gerry. Ted and Pat. Charlie O'Connor. Back then, I guess a good bit of it was trial and error. But we all learned a lot from each other. And our timing was good. The market had been a bit more closed before, but as things became more commercial you had more opportunities for striking out and selling on your own.”

His association with Costello now goes back some 30 years. He suspects that they first met in a pub.

“Believe it or not!” he says with a chuckle. “Yeah, we met shortly after coming here and just hit it off and have been friends ever since. Obviously we think a lot alike, as far as a horse is concerned. You do need to have give and take, if you're going to do partnerships, but to be honest we've never had any differences.”

The ultimate partnership, however, is naturally that with Aisling herself. Duignan submits willingly to all the facetious inferences of their friends in the ITBA video.

“She's been huge help,” he says. “It's lovely to have somebody you can bounce things off that's smarter than yourself. She has unbelievable energy, has to juggle lot of balls in the air, and I don't know how she does it: she's a very sharp businesswoman, but also a wonderful mother and just a fantastic person.”

All ribbing aside, however, everyone acknowledges Duignan himself as an outstanding horseman. Wearing his various hats, he has processed too many good horses for there to be any doubt about that. During his time at Castleton-Lyons, Duignan assisted in the rise of Malibu Moon, while young stallions No Nay Never and Gormley are among the graduates of the Paramount consignment. If forced to identify one dimension of his portfolio that gives him most pride, however, it would probably be the mares that have found their way to various farms under his supervision.

When Point Given (Thunder Gulch) was a weanling, for instance, Duignan brought his dam to Ironwood for $160,000; she was sold for $2 million in the same ring five years later. He bought the dam of Gio Ponti (Tale of the Cat) for Castleton Lyons. Then there was dual Grade I winner Brody's Cause, co-bred with William Arvin Jr. and Petaluma Bloodstock after the $130,000 acquisition of his dam.

Just last year two juveniles to have been through Duignan's hands scored at the elite level: GI Starlet S. winner Eda (Munnings) was sold by Paramount as a Keeneland September yearling for $240,000, while GI Breeders' Futurity S. winner Rattle N Roll (Connect), pinhooked as a $55,000 weanling via Rexy Bloodstock, was sold in the same consignment for $210,000. And now, from the same crop, Forbidden Kingdom is advertising the alert recruitment of his dam Just Louise (Five Star Day) for just $150,000, despite her GIII Debutante S. success in a light career.

“That's what it's all about, at the end of the day,” Duignan says. “The buzz of good horses. I think the biggest thing, looking back, was the day I started investing in the game rather than just working in it. In life, you always need luck and thank God I've had my share of that too. But there are always risks involved, so you do need the mentality to take the ups and downs. If things go wrong, you have to be able to take it and move on; you don't look back, only forward.”

In raising a horse, equally, he feels you have to let things flow; to expose horses to the challenges that help them mature into fighters on the track—very much, he suggests, part of a culture shared by his fellow “wild geese”.

“I do think we try to let them be horses,” he says. “They're kept outdoors as much as possible, kept in the herd as much as possible. I think it's very important you don't hothouse horses, because I think it's been proven through the years that you just make a softer individual that way. I think probably all the Irish guys are a bit like that.”

Duignan rejects the pessimism expressed by many for the American industry. Purses in some states are very strong, he notes, while that even the pandemic yielded reasons to be cheerful in increased handle, and a remarkably robust bloodstock market.

“No doubt the business has shrunk over the last 20 years,” he admits. “But it's very resilient. At the end of the day, there is that bond between humans and horses. It's a great game, and I often say that I probably never worked a day in my life. If you love what you do, there's no better way to go through life. So long as you're able to take a few knocks along the way, it's a lovely way to make a living.”

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Tony and Anne O’Callaghan Inducted To ITBA Hall Of Fame

The cream of Irish Thoroughbred breeding was recognised on Sunday night, with the headline act being Tally-Ho Stud's Tony and Anne O'Callaghan, who were inducted into the ITBA Hall of Fame.

Last year's ITBA National Breeding & Racing Awards provided one of the bloodstock social media events of lockdown, but after two years of virtual presentations, the prestigious awards ceremony returned to its rightful home of The Heritage hotel in Co Laois.

The O'Callaghans also took home one of the main Flat awards when being named the joint-winners of 2-year-old colt category with Ben Sangster. This was in recognition for breeding Perfect Power (Ire) (Ardad {Ire}), winner of the 2021 G1 Middle Park S. and G1 Prix Morny and the co-top-rated Irish-bred juvenile colt along with the unbeaten Luxembourg (Ire) (Camelot {GB}), who landed the G1 Vertem Futurity Trophy after winning the G2 Beresford S.

Tally-Ho Stud, based in Mullingar, Co Westmeath, is currently home to seven stallions, among them the much respected Kodiac (GB), as well as Mehmas (Ire) and Cotai Glory (GB), who have been the leading first-season stallions of the last two years. A video produced by the ITBA to commemorate the induction included tributes from the O'Callaghans' two sons, Roger and Henry.

“They've worked hard to get here and everything they've got they've earned,” said Roger. “Mum did the night-watching for 25 years. She did all the foaling–mum did the nights and dad did the days.”

Henry also acknowledged his mother's role is the successful business. He said, “When it's a small operation everyone does everything. My mum was up during the night and when my dad got up she would give him a hand with the feeding. Even now, when we are watching the mares, she has an innate ability to predict when they are going to foal.”

In addition to Perfect Power, who was recognised with an award on the night and is himself by Ardad, a stallion bred by the O'Callaghans, the Tally-Ho team was also responsible last year for breeding the Group 1 winner Ebro River (Ire) by another of their stallions, Galileo Gold (GB). Further success came through the G2 Gimcrack S. and G2 July S. winner Lusail (Ire) (Mehmas {Ire}), as well as Campanelle (Ire) (Kodiac {GB}), who won the G1 Commonwealth Cup in addition to her 2020 victories in the G1 Prix Morny and G2 Queen Mary S.

Patrick Burns of Newlands House Stud was recognised with the ITBA Small Breeder Award, with his crowning glory of 2021 being the G1 Nuntorpe S. victory of Winter Power (Ire), a daughter of Bungle Inthejungle (Ire) who stands at Rathasker Stud, owned by Burns's brother Maurice.

“Patrick is the epitome of a successful high-class small breeder,” said ITBA chairman Joe Foley. “From the small number of yearlings that he produces every year he seems to produce a really good horse from every crop. That success rate is really remarkable.”

Burns has never had more than six mares on his farm in Kildare, and recent graduates have included the G2 Lowther S. victrix Living In The Past (Ire), who is also a daughter of Bungle Inthejungle, as well as G2 Lanwades Stud S. winner Devonshire (Ire) (Fast Company {Ire}) and Listed winner Hurryupharriet (Ire) (Camacho {GB}).

Another hugely popular category is the Wild Geese Award, which honours Irishmen and women who have carved out successful careers in the bloodstock industry worldwide. Added to an impressive roll of honour this year are the names of Gabriel and Aisling Duignan. Based in Kentucky for more than 30 years, Gabriel 'Spider' Duignan is a founding partner of Paramount Sales, along with his fellow Irishman Pat Costello. Aisling Duignan, née Cross, is Coolmore's director of bloodstock at Ashford Stud.

Addressing the couple via the ITBA's video tribute, John Magnier said, “Spider, I knew you were clever from the time you were working and did so well for Tony Ryan, but when you got married to Aisling that confirmed how clever you were.”

He continued, “I remember Aisling from the time she was a kid really, leading out the mares in all kinds of weather and dressed up in this rain gear so you could hardly find her, but she always stood out and it's not a surprise to me that she has reached the heights that she has.

“She has been the utmost help to all of us. She keeps everybody on the straight and narrow and keeps everybody's morale up.”

The Special Recognition Award was presented to Julian Lloyd, a former trainer with rock star Eric Clapton among his owners, bloodstock agent, and, until his retirement last year, the manager of Kirsten Rausing's Staffordstown stud in Ireland. 

“I think he is defined by his enthusiasm for all matters racing and breeding, and also his professionalism, attention to detail, and great horsemanship in general,” said Rausing, who met Lloyd when they both worked for Captain Tim Rogers at Airlie Stud. 

“Julian, Paddy Moloney and I were the three that started up Staffordstown in early 1991, so Julian and I have been working and establishing Staffordstown with Paddy for exactly 30 years.”

The Grassick family's Newtown Stud and Tim Pabst received the award for breeding the top-rated Irish 2-year-old filly of 2021 in Flotus (Ire) (Starspangledbanner {Aus}), who is now owed by Katsumi Yoshida after selling for a million gns at the Tattersalls December Mares' Sale. 

In the 3-year-old filly division, the award was also shared, this time between the Gaffney family's Churchtown Horse Stud, breeders of Alcohol Free (Ire) (No Nay Never), and Tom Cooke's Thomastown Farm, which bred French-trained sprinter Suesa (Ire) (Night Of Thunder {Ire}). Godolphin received the 3-year-old colt award for their Derby and King George winner Adayar (Ire) (Frankel {GB}).

Brothers Michael and Laurence Gleeson, young pinhookers based at Aughamore Stud in Co Westmeath, were recognised with the Next Generation Award. Among their early successes has been Champers Elysees (Ire) (Elzaam {Aus}), who was bought by the brothers as a foal for €12,500 and sold on for €28,000 to Johnny Murtagh, who trained her to win the G1 Matron S. 

ITBA Award winners for 2021

Small Breeder
Patrick Burns, Newlands House Stud

Special Recognition
Julian Lloyd

Next Generation
Michael and Laurence Gleeson

Novice Hurdler
Appreciate It
Breeder: Barmakin Ltd & South Lodge Stud

Novice Chaser
Shishkin
Breeder: C J & E B Bennett

Leading National Hunt Mare:
Colreevy
Breeder:  Niall Flynn

Hurdler
Flooring Porter
Breeder: Sean Murphy

Chaser
Minella Indo
Breeder: Mrs R H Lalor

2-Year-Old Filly
Flotus
Breeder Newtown Stud & T J Pabst

2 -Year-Old ColtJoint award
Luxembourg
Breeder: B V Sangster

Perfect Power
Breeder: Tally Ho Stud

3-Year-Old FillyJoint award
Alcohol Free
Breeder: Churchtown House Stud

Suesa
Breeder: Thomastown Farm Ltd

3-Year-Old Colt
Adayar
Breeder: Godolphin

Wild Geese
Gabriel and Aisling Duignan

Contribution to the industry
David Minton

Hall of Fame
Tony and Anne O'Callaghan

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Forbidden Kingdom One to Celebrate at Springhouse

Foaling season is already underway at Springhouse Farm, where breeder Gabriel “Spider” Duignan says they are expecting to see around 50 new foals on the ground this year.

On Saturday, Duignan enjoyed a brief respite from his work on the farm to celebrate a successful day on the racetrack.

Forbidden Kingdom, a son of American Pharoah bred by Springhouse Farm, stamped himself as one to watch on the Triple Crown trail after he upset a trio of Bob Baffert runners in the GII San Vicente S. at Santa Anita. Trained by Richard Mandella and campaigned by MyRacehorse and Spendthrift Farm, the chestnut colt broke his maiden at Del Mar last summer and placed in the Speakeasy S. and the GIII Bob Hope S. in the fall before his winning sophomore debut in the San Vicente, where he showed the way down the stretch to win by 2 1/4 lengths and earn a 94 Beyer Speed Figure.

Duignan purchased Forbidden Kingdom's dam, Just Louise (Five Star Day), at the 2013 Fasig-Tipton November Sale for $150,000. The mare had been a precocious 2-year-old in 2010, breaking her maiden on debut and then taking the GIII Debutante S., while her half-sister Sara Louise (Malibu Moon) was a three-time graded stakes winner.

“She was a beautiful-looking mare,” Duignan recalled. “She was barren, which made the price better. When we inquired about her, it sounded like she had no fertility problems; it was just something that commonly happens with young mares. She was a very fast 2-year and it was a great family, a very good-looking family.”

While her first foal fetched $300,000 as a weanling and won on debut, the mare's first three foals did not make any major headlines.

When Just Louise was next bred to Malibu Moon, the mare produced a promising filly in 2018, so Duignan decided to send her to American Pharoah.

American Pharoah speaks for himself,” he said of his reasoning behind the mating. “He's a fantastic horse and I'm a big believer. I thought that the fact that there was so much speed in her family would suite him well. Physically, I thought they would match up.”

Forbidden Kingdom as a yearling at the 2020 Fasig-Tipton Selected Yearlings Sale | Photos by Z

The resulting colt, Duignan said, was everything he had hoped for and more.

“Forbidden Kingdom was always a beautiful colt, beautiful-bodied and fast-looking. He was very straightforward with a lot of quality. He was one of those that never had a bad stage. He was just born nice and he stayed that way.”

Duignan thought the colt was impressive enough to send to the Fasig-Tipton Selected Yearlings Sale, which was held in Lexington in 2020. Despite an uncertain market due to the pandemic, Forbidden Kingdom brought $300,000, selling to Spendthrift and MyRacehorse as one of the top three highest-priced American Pharoah yearlings of the sale.

Just Louise's Malibu Moon filly, who brought $310,000 as a yearling in 2019 and was named Sianara, broke her maiden at Churchill Downs last year and remains in training with Steve Asmussen. The mare also produced a Bolt d'Oro colt who brought $275,000 at last year's Fasig-Tipton Saratoga Sale. She now has a Not This Time yearling filly in the pipeline who Duignan said is one to watch.

When the Not This Time filly was foaled in April, Just Louise was bred once to Tiz the Law, but did not catch. Duignan said mating plans are not yet set for her this year.

Forbidden Kingdom is not Duignan's first potential Kentucky Derby starter. He was represented by GI Blue Grass S. winner Brody's Cause (Giant's Causeway), who he bred in partnership with William Arvin, Jr. and Charlie O'Connor's Petaluma Bloodstock, in the 2016 GI Kentucky Derby.

“It's what you're trying to achieve as a breeder, so it's lovely when it happens,” Duignan said of the experience of having a potential Kentucky Derby starter. “It's really fun and hopefully he stays on the right track. You can never know which ones will be special, but he was definitely one that you could hope for because he was a beautiful horse.”

Duignan is also a founding partner in Paramount Sales. In addition to what was an exciting Saturday for Springhouse Farm, Paramount Sales enjoyed a big day with their sales graduate Life is Good (Into Mischief) in the GI Pegasus World Cup Invitational S. The gifted 4-year-old was part of Paramount's 2019 Keeneland September Sale consignment and sold to China Horse Club and Maverick Racing for $525,000.

Asked if he remembers the impressive colt from the Keeneland grounds, Duignan responded quickly. “I sure do. He was a beautiful Into Mischief with maybe a little bit more leg than some of them. He was very popular at the sales and brought a good amount of money.”

How does Life is Good compare with the rest of the long list of top-performing Paramount sales graduates?

“He ranks well no matter what company you put him in,” Duignan said, chuckling. “He's a monster.”

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