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Interesting read recently in the TBN in the US where a supposed authority valued a stallion’s purchase price between 250 times service fee and 300 times service fee as the accepted way to value a stallion in the US. In Australia we have a shorter breeding season and with many breeders not keen on December services we often have only three months to serve the required numbers of mares and get the appropriate returns in. So are our numbers different? I suspect they are which only puts the valuation test in Australia under more pressure.
However assuming the theory is relevant, how many stallions stand this test in Australia. The $8 million dollar purchase must impregnate 100 mares a year at $26,666 or on a sliding scale an average 83.3 mares at $32,000 per nomination for three years to fit the model. Sobering isn’t it, especially when fees struggle to remain constant for three years.
Once the oldest are yearlings the stallion is serving his third book. Unless they have been very ordinary weanlings the market has not been fully tested on the stallion. Shareholders should be out of the horse financially and breeders should be looking at significant returns. Unfortunately, that is not always the case. Overpricing does not get shareholders out quickly regardless of the financial criteria and the market is very tough on breeders who have not assessed the stallion’s true worth (read service fee) appropriately.
Higher fees do not make stallions better than their contemporaries with lower fees. Fees need to be analyzed. So don’t fall for hype; due your own due diligence; analyze and read widely and basically hasten slowly. (IR)
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Champion 2 and 3YO HOST Gives Victorian Breeders a Crack at the best son of Hussonet
Proudly Swettenham Stud announce that HOST, a dual Group One winning son of leading sire Hussonet will stand in 2008 at Nagambie in a huge boost to the North East region and the Victorian Breeding Industry.
Host will be an outstanding addition to our stallion roster. He had absolute brilliance from 1000m to a mile and even retired to stud on a winning note with a brilliant victory in the Group 3 Canadian Turf Handicap (1700m) on turf at Gulfstream Park in his last race start on Jan 4th 2008.
HOST completed at the highest level in Chile, North America and Dubai, proving a most brilliant miler. He was a winner of 9 races and almost A$1.5m in prizemoney in a 27 start career. HOST recorded 2 wins at Group 1 level plus a fourth and two fifths; 2 wins and a placing at Group 2 level; 3 wins and 6 placings at Group 3 level; and two wins at Listed level.
After breaking his maiden in January as a two year old in a blistering 0:56.24 for 1000m, HOST completed a near flawless juvenile campaign that included a record setting win in the Alvaro Covarrubias (G3) in 1:08.24, and went on to be named Champion 2yo Colt of his year.
Returning at three HOST won his Group 2 lead up race before an emphatic 6 1/4 length victory in the Chilean 2000 Guineas (G1) and was subsequently named Champion 3yo Colt and Horse of the Year.
Purchased by leading North American owner Eugene Melnyk, HOST was transferred to Eclipse Award winning trainer Todd Pletcher. HOST competed at the highest level in North America and Dubai. No doubt the highlight of HOST’s career in North America was his brilliant win in the Shadwell Mile (G1) where among others he defeated the Group One winners Ad Valorem, Three Valleys and Australia's own Alinghi.
HOST also put up some outstanding performances in defeat with a close second in the Appleton Hcp (G3) 8 furlongs (mile) beaten just half a length by Mr Light in a world record of 1:32.98. His solid 4th behind David Junior in the Dubai Duty Free (G1) where he finished ahead of Bullish Luck, Perfect Promise, Fields Of Omagh, Russian Pearl, Hat Trick and Valixir was another highlight.
In 2007 HOST very nearly established a track record at Monmouth Park when he won the Elkwood Stakes (L) in a blistering 1:33.99 and returned to that track in November to finish a close 5th, beaten just 2¾ lengths behind Kip Deville in the 2007 Breeders' Cup Mile (G1).
By multiple Champion Sire of Chile Hussonet, who has started his Australian career in stellar fashion, HOST is out of the stakes winning Roy mare Colonna Traianna. Importantly for the Australian broodmare population, HOST is free of Northern Dancer and being inbred to Mr Prospector naturally lends himself to the Australian broodmare population that is saturated with Northern Dancer blood.
Hussonet, sire of HOST was a multiple Champion Sire of Chile and has his oldest Australian progeny in their classic year and his service fee by all reports is about to enjoy a serious lift. This and the boom on the gelded Weekend Hussler makes the obtaining of HOST a most opportune one for Swettenham Stud who now offer Hussonet’s best stallion son to Victorian breeder’s in 2008.
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Industry Quotes
» "Host was one of the coolest horses I have ever had to train. He is pretty much push-button...he has that explosive turn of foot." Leading Trainer Todd Pletcher commenting on Host.
» “My horse broke good and went easily to the half. Even though he usually shows speed, he relaxed for me. When I asked him to run, he just exploded," Top rider Raphael Bejarano and winning jockey after his win in the Shadwell Mile Group 1.
» “Having been part of the team that relocated his sire to Australia I am naturally delighted to also be part of his best son to retire to stud." Byron Rogers Head of the Purchasing Syndicate.
» “The syndicate that has purchased HOST to stand in Victoria includes a partnership managed by William Inglis & Son's Byron Rogers and he kindly approached us about being involved. We had been trying to secure the horse in our own right, but Byron had secured an option on the horse so we were very happy not to have missed the horse.” Adam Sangster.
» “The syndicate is very much committed to HOST proving a success for Victorian breeders. This is a win, win for us with a fantastic syndicate created that will support the horse with outstanding mares, and the horse we wanted for Victoria and Super VOBIS. It also encourages us that we are duplicating the same stallion blood that is proving so successful with Dash For Cash being a Mr Prospector line stallion free of Northern Dancer. HOST was a Champion at two and three, beat some great horses in his career and could run simply brilliant times so he was just what we wanted for our clients.” Adam Sangster.
» “When selling nominations for all Swettenham Stud stallions it is extremely gratifying to know that there is a really significant upside for the breeder and HOST fills that criteria. The rush from established breeders to get into the horse suggests he has all the important ingredients required.” Ian Rimington.
» “All our efforts are focused on lifting the Tasmanian Summer Carnival of Racing with our feature races. The addition of a service to the winning connections of the Swettenham Stud Bow Mistress Stakes from a Champion racehorse like HOST will add greatly to a race that is already the Premier Fillies and Mares race in Tasmania.” Brett Williams Marketing Manager TOTE Tas.
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Quality Gallopers Unearthed in Another Busy Week at the Track.
Jan 6.
Dashalot (2YO Filly by Dash For Cash from Zalium a daughter of Zeditave).
Trained by Rick Hore-Lacy the trainer of the Champion Dash For Cash this filly strolled in on debut by 5 lengths at Geelong. Rick has eyes firmly on the major 2YO races. Controlled the speed and won in a hand canter for great supporter of Rick’s and the Stallion in Robert Hance.
Bianbad (4YO Gelding by Bianconi from Amok a daughter of Jugah).
Trained by Jim Mason this gelding has been patiently handled by his connections and looks capable of repaying them in town. Won well at Geelong on Sunday and really liked the way he went through his gears to demolish the opposition over 1221m. A fitting win for our great supporters from the Western District the McCormick family. Congratulations to Greg, Lucy and team.
Jan 5.
Moylan (3YO Filly by Dash For Cash from Rachael’s Pride a daughter of Akhadan).
Trained by Lee Hope this filly won well on debut in the country and came to town second up at Sandown. A flashing third making up many lengths after a check on the turn. Her run was confirmed as outstanding as the saddle slipped big time on the filly and the rider was unable to ride her out. Going for a short spell, be patient this is a quality filly for another great supporter of Stud and Stallion in Rick Jamieson.
Purple Haze (3YO Gelding by Dash For Cash from Goldamp a daughter of Made of Gold).
Trained by David Hayes this gelding fresh from a devastating win at Kyneton really took the eye making a late charge to fourth in the 1400m race from well back on the corner. Really good win on the horizon and bred by solid Swettenham clients Mr and Mrs Geoff Tory.
Jan 1.
Apprehend (2YO Colt by Hold That Tiger from Regal Touch a daughter of Touching Wood).
Trained by Tony Vasil this colt syndicated by Harry Lawton won very well on debut at Mornington over 1200m. From a Canberra and Wagga Cups winner he should get better over ground like all the Hold That Tigers. This bloke was the first Australian runner for Hold That Tiger and bred by great supporter of the Stud and the North East in Gerry Ryan.
Regally Red (2YO Filly by Court of Jewels from Red Covet by St Covet)
Trained by David Hayes this filly was stepping back in distance after a debut second at Caulfield over 1100m. The 1000m down the Flemington straight and not being given time to find her feet worked against her. Her last 50m was her best to go under less than 2 lengths and she is a filly who will appreciate 1200m around a turn. Another great supporter in Michael Tong looks like being well rewarded as owner and breeder.
Dec 29.
Wincat (2YO Colt by Hold That Tiger from Tojur a daughter of Dayjur).
Earned a TDN Rising Star award and may well be the next really top performer for Hold That Tiger in the States. Won by 6.75 lengths with a further 7.25 lengths to third. Ran incredible sectionals and a very fast time for the 6 furlongs, just over a second outside the all age track record. Could not have been more impressive.
Editor: Hope you followed our last early crow on Schilling (by Bianconi) winner of the Group 2 Sandown Guineas.
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LOSE HIM, NO WAY.
Hold That Tiger has been secured by Adam Sangster for Victoria. Adam acted quickly to secure the magnificent Group 1 winning son of Storm Cat after being informed he was not going to shuttle back to Australia. Standing previously on arrangement with Coolmore Hold That Tiger’s oldest Southern Hemisphere progeny are just 2YO’s. Adam after promising breeders’ throughout 2007 that the horse would continue to be available in Australia had to act quickly to keep his promise and get a quality Stallion for the farm.
The investment in the stallion has ensured that he will continue to serve in Australia. Importantly, Adam has arranged a shuttle to France for the coming 2008 Northern Hemisphere season to keep his numbers rolling north of the equator. The economics of this move will benefit Victorian breeders as the horse can continue to stand at his presently very affordable and competitive service fee of $13,200 live foal guarantee in the Southern seasons ahead.
The appropriate due diligence was done on the Hold That Tiger his stock and their performances to-date, before committing to the horse. While buoyed by his Northern Hemisphere performances and after serving 151 mares in Kentucky in 2007; it was the reports on the now 2YO’s by Hold That Tiger in Australia that encouraged Adam to make a very large commitment to the stallion.
In his debut Northern Hemisphere season Hold That Tiger continued to rack up good results. Eventually finishing 4th on the Freshman Sires List by winners and 8th by Earnings. He recently posted his 22nd individual winner. His statistics though deserve some analysis with his 64 Northern Hemisphere 2YO runners producing:
» 2 Stakes winners.
» 21 individual winners.
» 23 placed runners, including 14 horses that have placed second.
» 20 unplaced runners, of which 17 have earned prize money with 11 of those only having had one start.
It was however no surprise to see his first Australian runner a winner as the reports across the board from Australian trainers was fantastic.
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STALLION ROSTER 2008
» Bianconi
» Court Of Jewels
» Dash For Cash
» Hold That Tiger
» Host
» Keep The Faith
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For more information please contact Ian Rimington
Mobile » 0419 887 184 Email » [click here]
Web » swettenham.com.au Swettenham Stud PO Box 210 Nagambie Vic 3608
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