The biggest yearling sale in the southern hemisphere, the Inglis Easter Yearling Sale had come to a close last week.
It was a very strong sale with aggregate and average price all up on 2012. Overseas buyers were equally strong as the local buyers in paying top dollars for the blue blood.
Coolmore Stud, the global breeding giant, had once again been an active buyer at the Easter Sale. Significantly, they had combined with China Horse Club in purchasing two Fastnet Rock colts, a $1.5 million (Fastnet Rock x Dream Play, by Hennessy) colt on the first day of the sale, followed by paying $2.4 million for the 3rd top priced lot at the sale on another colt (Fastnet Rock x Gold Anthem, Made of Gold).
The Easter Sale marked the start of the joint venture between Coolmore Stud and China Horse Club that will have a long term impact on the development of a racing and breeding industry in China.
The Chinese Government owned Tianjin State Farms Agribusiness Group and Desert Star Holdings, an affiliate of the China Horse Club have invited Coolmore to participate in a world class equine breeding and racing project, the Tianjin Equine Culture City. It is the first time the Chinese Government have involved with an overseas joint venture in horse racing and breeding.
Desert Star Holdings is led by its chairman Teo Ah Khing, a Harvard University graduate who is responsible for the creation of the China Horse Club which is the exclusive membership group associated with the Tianjin Equine Culture City.
Tianjin Equine Culture City project will cost in excess of $US2 billion dollars which includes an international standard racecourse, a world class equine clinic, 4000 horse stalls and an international equestrian college.
Coolmore Stud’s initial involvement in the project includes the establishment of a stud farm, stocked with broodmares which will be sourced in Ireland.
The breeding program has commenced and will involve the export to China of over 100 mares over three years.
China has a population of 1.3 billion people and being the fastest growing economy in the world, China Horse Club could well develop into a new super-power in thoroughbred breeding. And Coolmore may have already seized the opportunity in this new market.
By Owens Wong