Events > Hong Kong International Sale 2002
 
 

 

Hong Kong International Sale 2002

Date: 13 December 2002
Time: 4:30 pm - Cocktails
5:10 pm - Introduction and
Bonus Presentation Ceremony
5:30 pm - Lot 1 to be presented for sale
Venue: Hong Kong Convention and Exhibition Centre

 

RECORD PRICE AT HONG KONG INTERNATIONAL SALE 2002

A bay colt by Desert King fetched a record price of HK$4.8-million Friday evening at the Hong Kong International Sale 2002.

Trainer John Moore made the record winning bid on Lot 23 for a partnership comprised of George Chang, a Hong Kong shipping magnate, and Dr. Andrew Wong, a prominent Hong Kong neurosurgeon.

Only minutes earlier, Lot number 19, a grey colt by Danehill, had sold for a record price of HK$4.7-million. That purchase was made by Rusty M. Shroff, MBE, a Hong Kong real estate developer. That colt will be trained by Geoff Lane.

A total of 35 lots were sold at the sale, for a gross of HK$49.9-million. This figure was down 11.45% percent from the record gross of $56,350,000, achieved at the 2001 edition of the sale, when 38 lots were auctioned.

The average price this year, HK$1,425,714, was down 3.86% from the average of $1,482,895 achieved last year.

"All in all, we have to be happy with the results this year," said Winfried Engelbrecht-Breges, executive director of racing for the Hong Kong Jockey Club. "Our buyers are discerning about conformation and open-minded about pedigrees. We saw some very wise bidding tonight."

Bidding actually started slowly , but increased in intensity as the sale went on. None of the initial 15 lots lured anywhere near HK$2-million for closing bids, but with Lot 19 a breakthrough took place, and prices tended to be more impressive from that point onward.

No other horse, though, could match the aggressive bidding accorded Lot 23, whose pedigree had gained the attention of many Hong Kong bloodstock agents in the weeks prior to the sale.

Desert King, himself a son of Danehill, was a champion four times in Europe. Lot 23's dam, Very Droll, was a multiple stakes winner in Australia. Very Droll has also produced the champion and multiple Group 1 winning filly, Ha Ha, and the multiple stakes winner, Dry Humour, both of whom are three-quarter siblings to Lot 23.

Moore, not surprisingly, assessed Lot 23 as "great purchase." He said he felt particularly rewarded that Dr. Wong was a partner in the colt's ownership.

In the early 1980s, Moore's brother-in-law, a jockey named Phillippe Paquet, took a terrific fall and suffered severe injuries during track workouts. Dr. Wong saved Paquet's life. Moore's family has felt indebted to the neurosurgeon ever since.

Shroff stated that Lot 19 was his primary target for purchase going into the sale. "I saw him breeze at Sha Tin last Sunday, and was highly impressed," Shroff said. The colt is out of Swiftsynd, a course record-setting daughter of Swift Gun, and is a half-brother to the multiple Group 2 winning gelding, Le Zagaletta.

The evening's festivities began with the awarding of HK$1-million to Peter Kwan, the owner of Wyndam Easy, who was the top money-winning graduate of the 2001 edition of the sale. Trained by David Hayes, Wydham Easy has earned HK$2,121,500 racing in Hong Kong during the past 12 months.

Interestingly, the top seven graduates in terms of Hong Kong earnings from last year's sale were all bred and raised in the Southern Hemisphere. This is also true of all four horses who were sold for prices in excess of HK$2-million at this year's sale.

It should further be noted that all four boast Danehill as their sire or paternal grandsire. He, by far, remains the most popular stallion whose name graces the Hong Kong International Sale catalogue.

A prize of HK$1-million will again be awarded to the graduate of the 2002 sale who achieves the highest Hong Kong earnings between now and June, 2004.

This marked the third consecutive year that a record price was bid for an individual lot at the Hong Kong International Sale - - in each case, Danehill was either sire or paternal grandsire.

Gross receipts this year were the second highest in the sale's history.

For the fourth consecutive year, the Keeneland Association of Lexington, Kentucky, handled auction chores.



INTRODUCTION

HONG KONG INTERNATIONAL SALE TAKES PLACE FRIDAY

Thirty-seven colts and geldings, obtained by the Hong Kong Jockey Club through private transactions and at major vendues on three continents, were guided through public gallops Sunday at Sha Tin Racecourse.

All are scheduled to be auctioned this coming Friday, 13 December, at the 2002 edition of the Hong Kong International Sale of two-year-olds (and one three-year-old) at the Hong Kong Convention and Exhibition Centre.

For the fourth consecutive year, auctioning responsibilities will be handled by the Keeneland Association, Inc., of Lexington, Kentucky. Keeneland is the world's leading thoroughbred sales company, handling thousands of transactions through its auctions each year. Keeneland's head auctioneer, Ryan Mahan, will have the gavel.

Last year, 38 horses were auctioned at the Hong Kong International Sale for gross receipts totaling HK$56,350,000. "That was an all-time record for us," said Winfried Engelbrecht-Bresges, the Hong Kong Jockey Club's executive director of racing.

"I'm not sure we can surpass that figure this year," Engelbrecht-Bresges said. "But we do have a stronger catalogue in 2002. In my mind, it's the strongest we've ever offered for any of our Hong Kong sales."

Dan O'Donnell, a bloodstock agent based in Hong Kong for the past 14 years, agrees. "In pedigrees, this year's sale bears the highest standard we've ever had," O'Donnell said. "The horses also have suitable conformations for racing here. There will be many opportunities Friday for a buyer to obtain a credible racehorse for a reasonable price."

The catalogue includes seven sons of Danehill, who was a European champion during his racing days, and is now one of the most popular sires in the world. At last year's Hong Kong International Sale, a colt by Danehill out of the stakes-producing Darshaan mare, Caraniya, fetched a record price of HK$4.5 million.

Further included in this year's catalogue are sons of Alhaarth, Desert King, Diesis, Gentlemen, Grand Lodge, Royal Applause, With Approval and Woodman, all of whom were champions during their own racing careers.

Horses selected for this year's Hong Kong International Sale have gone through a rigorous examination process, "which includes three complete vettings, drug testing and three sets of X-rays," said Engelbrecht-Bresges. "You won't find a sale anywhere with higher qualifying standards than ours."

"Our function with this sale is not to make a profit," said Hong Kong Jockey Club Chairman Ronald Arculli. "Rather, it's to provide a service for Hong Kong racing participants. There's also an educational purpose involved - - to familiarize new owners with what the correct process is when seeking to buy a racehorse."

As has also been the case in prior years, a bonus of HK$1-million will be awarded to the owner of the 2002 Hong Kong International Sale graduate who achieves the highest cumulative purse earnings at the close of the 2003-2004 racing season in Hong Kong.

A pair of 2001 sale graduates, Wyndam Easy and The Duke, are currently in a head-and-head battle for the bonus that will be awarded at the culmination of this year's 11 December racing programme at Happy Valley.

Interestingly, neither horse sold for an especially high price at the 2001 sale. Wyndam Easy brought a closing bid of HK$600,000. The Duke brought a closing bid of HK$1.6-million.

To be eligible for this year's bonus, a horse must be trained full-time in Hong Kong for the period between December, 2002, and June, 2004 - - "which will provide candidates with an extra six months, thereby eliminating the need to push a young horse too far, too fast," Engelbrecht-Bresges said.

Most of the horses consigned to this year's Hong Kong International Sale were gathered from yearling vendues such as Keeneland July, Saratoga August, Keeneland September, Tattersalls October, Goffs Orby, Houghton, Deauville, New Zealand Bloodstock , Inglis Easter and Magic Millions.

*updated on 10 December

 

 

 

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