‘It’s make or break’ – pinhookers look to buck the market trend as breeze-up season rolls into Deauville

Enjoying yourself in Deauville isn’t difficult. The Normandy seaside resort boasts a picture-postcard beach, an ostentatious-looking casino, streets lined with restaurants and a liberal sprinkling of high-end boutiques. This is where the well-heeled come to unwind and indulge. 

However, for consignors at the Arqana Breeze-Up Sale, which begins on Saturday at 11am local time, the champagne remains on ice. Although there have been the usual handful of spectacular pinhooking successes along the way, a thinning of the breeze-up buying bench has made for an uncomfortable few weeks of selling. 

Mick and Sarah Murphy of Longways Stables pulled no punches when assessing their fortunes at the recent sales in Newmarket and Doncaster. “We’ve had the worst year we’ve ever had, even since we were dealing with lesser stock,” said Sarah, before Mick added: “It’s been very up or down. There’s a lot happening in the world though. There are two wars, upcoming elections in America and Britain, people are very unsure about what the future holds. 

“People have found it a challenge across the board. Even at a bad sale, someone will always get well paid, but in general this year the breeze-up men and women have found it tough. We’d be happy if we broke even this year. We’ve had a middling season, but these things happen.” 

In this respect, the Longways team are far from alone. Identifying the precise reasons behind this market turbulence is easier said than done, but there is a sense that there are a combination of factors at play, both within the racing bubble and beyond.

The show must go on at Arqana for the latest breeze-up saleCredit: Zuzanna Lupa

Despite the challenging nature of trade, there is still optimism that fortunes can change. When it comes to the breeze-up business, there would be no better sale to turn things around than at Arqana. Last year’s auction witnessed a seven-figure top lot and record aggregate and median figures, with the former at €21,070,500 and the latter at €110,000. With such punchy numbers in mind, many vendors are aiming their biggest bullets at this target. 

With renovation work taking place to the roof of Barn A, Arqana have erected a series of screens that provide a timely reminder of the kind of talent this sale has produced on both sides of the Atlantic. Images of Classic winners Channel, Eldar Eldarov, Teppal, The Grey Gatsby and War Of Will are joined by fellow Group/Grade 1 winners such as Khan, Lezoo, Mshawish and Rockemperor. 

The Longways draft is very much in keeping with this theme, and contains colts by elite stallions such as Sea The Stars (lot 1) and Siyouni (2), as well as well-bred fillies by Blame (133), Hello Youmzain (180) and Night Of Thunder (129). They also offer the only daughter of Frankel, the filly out of Correze (60), being presented at this year’s European two-year-old sales. 

“For us, for this year, it’s make or break at this sale, without a shadow of a doubt,” said Sarah. Mick continued: “Everyone keeps their best stock for Arqana, that’s fairly well established now, and the quality of horse you’ll see walking around here is mind-blowing. We had a couple of horses who breezed well and overall we’re happy. One or two perhaps didn’t perform quite as we’d have liked, but that’s going to happen when you have a draft of 12. 

“In general, the footfall at the breeze-ups has been a bit lower this year. You usually get good footfall here, but, like at the other sales, a lot of people will probably fall on the same few horses. Hopefully we might have one or two of those.” 

Brendan Holland: "We’re holding our own so far but it hasn’t been as easy as we were hoping"Credit: Zuzanna Lupa

Twelve months ago Brendan Holland of Grove Stud enjoyed what he described as a “once-in-a-lifetime” result when the Siyouni colt subsequently named No Retreat sold to Victorious Racing through Oliver St Lawrence for €1.2 million. 

Holland was more measured in his expectations this time around, and was another to note the “wider economic outlook” impacting the state of trade in recent weeks, as well as problems slightly closer to home. 

“It has been tricky,” he said. “We’re holding our own so far but it hasn’t been as easy as we were hoping. The market so far has lacked a bit of depth. This is a different market here and I’m sure it will be strong at the top end, but it’s still a boutique sale so I’m sure it will still be selective as well. 

“There’s a significant number of trainers still trying to sell last year’s yearlings. Then the state of prize-money in British racing might be starting to catch up. I can’t say that for certain, but when you know trainers haven’t sold horses easily, that tells its own story.”

With France celebrating a public holiday on Wednesday and Thursday, Deauville town centre was a hive of activity. The same was true at the racecourse, where a sizeable crowd of talent-spotters and clock-watchers gathered down the back straight to witness the pre-sale workouts.

Among those Holland put through their paces under blue skies and beating sun were fillies by Justify (47) and Medaglia D’Oro (58), while the Siyouni colt out of Over Reacted (165) also showed up well. 

Grove Stud's Justify filly out of Cahoots at Arqana

“The standard of breezing this afternoon was very, very high, it was very competitive out there,” he said. “There’s plenty of action on the ground so I’m hoping that translates. We had a good afternoon and I was more than happy. 

"We have some nice types from strong sirelines and with good pedigrees, so we’re hopeful. The top of the market is so strong that if you have a horse that gets to the top of the market, then it could, for sure, solve a lot of issues. I hope my year is never defined by one sale, though.” 

Results on the track have given Cormac Farrell, who trades under the banner of CF Bloodstock, more reasons to cheer than most of late. He sold three-time Grade 1-winning hurdler Dancing City and was also responsible for Bracken's Laugh, who looks to have a bright future based on his eyecatching second to Capulet in Thursday’s Dee Stakes at Chester. 

However, he too has felt the cooling of the breeze-up market and said: “It’s gone okay but the market has been quite selective. I’ve had some nice horses and they’ve sold well, but when they haven’t met the metrics then they’re not so easy to sell. 

"Overall it’s been fine. We’ve been coming out of sales happy enough, without there being any fireworks. This is the important sale, though, as we’ve brought our best horses here.” 

Asked if that meant added pressure when bringing seven lots to market, including colts by Starspangledbanner (85) and Oasis Dream (74) and a filly by Galiway (29), Farrell said: “Of course. These horses matter a lot. There are a couple of horses here who could sell very well and also go on and be very good. 

"I brought what I thought were my nicest horses here and they stack up well. I like them anyway, I just hope people agree, because, ultimately, it’s not about what I think.” 

He added: “They’ve all galloped well so let’s hope that people are here to buy them. I think they are and it feels like there’s a lot of people here. The quality of horses here generally is fantastic, so it should be a good sale.” 

Arqana Breeze-Up Sale factfile 

Where Arqana sales complex, Deauville

When Selling begins on Saturday at 11am local time (10am BST) 

Last year’s stats From 167 lots offered, 139 sold (83 per cent) for aggregate sales of €21,070,500 (up 58 per cent year-on-year), an average of €151,585 (up 16 per cent) and a median of €110,000 (up ten per cent)

Notable graduates Eldar Eldarov (sold by Oak Tree Farm, bought by Oliver St Lawrence for £480,000); Lezoo (sold by Tally-Ho Stud, bought by Atlas Bloodstock for €110,000); Malavath (sold by Star Bloodstock, bought by David Redvers and Meridian International for £120,000); Rockemperor (sold by Mocklershill, bought by Simone Brogi for €12,000); Sakheer (sold by Mocklershill, bought by Oliver St Lawrence for €550,000) 

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