Historic 150th year of business
Goffs historic 150th year of business recorded the highest ever turnover at over €170 million with the iconic Wildenstein Stables Ltd Dispersal capping a year of highlights.
Turnover edged over €170 million for the first time with €120,686,343 of the total generated by Goffs, representing an 11% rise on 2015 whilst Goffs UK also enjoyed a double digit rise to Â£40,807,250 (€49,803,715) which was 10% ahead of last year.
In April DBS became Goffs UK, nine years after the merger with Goffs, and the entity could not have enjoyed a better start with the first Goffs UK sale at Aintree’s famous Grand National meeting selling the years highest priced point-to-pointer at Â£335,000.
A record equalling price of Â£280,000 topped the Doncaster Premier Yearling Sale which grew for the fourth consecutive year whilst the Spring Sale also enjoyed a vibrant trade for both stores and horses-in-training, the latter category being headlined by the annual Million In Mind dispersal with top prices of Â£290,000 and Â£260,000. On the racecourse the highlight for Goffs UK was an unprecedented four wins at Royal Ascot from the Doncaster Breeze-Up, two at Group 1 level in Quiet Reflection and My Dream Boat whilst April’s joint sales toppers at Â£170,000, Ardad and Prince Of Lir won the Windsor Castle and Norfolk Stakes respectively.
Goffs graduates won another two European Classics in 2016 and at the Orby Sale the average and median took another step forward as the most international buying bench descended on Goffs. Joining regular supporters from Ireland, the UK, across Europe and further afield were a number of new investors from the USA, the Far East and Australia, creating the most diverse spread of buyers coming to Goffs to buy at the highest level, so resulting in more lots realising over €100,000, €200,000, €400,000, and €500,000.
Goffs pulled off a remarkable coup with their appointment as the exclusive Auction House to conduct the Wildenstein Stables Ltd Dispersal with 108 blue blooded thoroughbreds split between the Orby and November sales. Classic winner Beauty Parlour topped November when selling to Peter Brant’s White Birch Farm for €1.6 million and her €1.4 million Dubawi yearling colt was the top price at Orby to the bid of John Ferguson whilst it was Stephen Collins of Shadwell who bought the top priced foal for €775,000. That price for the daughter of Siyouni meant that Goffs November sold Europe’s highest priced foal of the year for the second year in the last three.
The November Sale recorded a turnover of over €40 million for only the second time aided by a stunning trade for arguably the best ever catalogue of breeding stock with superb drafts from Godolphin, Kiltinan Castle, Jockey Hall, Moyglare, Ballylinch, The Aga Khan Studs, Derrinstown and many more. Several international buyers made Goffs November their first preference following more overseas trips than ever by the Goffs team and Irish Thoroughbred Marketing, who work in tandem with Goffs to promote each catalogue.
The third Goffs London Sale in association with QIPCO was topped by another Classic winner when Jet Setting was sold to The China Horse Club for Â£1.3 million, so providing the sale with the UK’s highest priced horse-in-training for the third year in a row. A vibrant sale recorded growth of 48% and featured a mare in foal to Golden Horn selling for Â£360,000 together with a HIT average price of just shy of Â£300,000.
In National Hunt Goffs Land Rover Sale was the leading store sale for Grade 1 winners at the Cheltenham Festival for the third year in a row, headed by Altior in the Supreme Novices Hurdle who has gone on to Grade 1 success over fences this season. An increase in the number of horses making over €50,000 and over €100,000 at the 2016 Land Rover Sale, together with a top price of €165,000, showed that the top of the National Hunt market is as vibrant at Goffs as anywhere. The December National Hunt Sale meanwhile really came of age this year with a new record top price of €130,000 for a National Hunt mare and a remarkable two day’s trade for some of the best Irish NH foals whilst the Punchestown Sale continued to confirm its market leading status.
Commenting on the results at the end of the 150th anniversary year, Goffs Group Chief Executive, Henry Beeby said:
“2016 has been a wonderful year for the Goffs Group on so many levels and we are proud to have marked this special year with record turnover and so many highlights. For an Irish company to be in a position to celebrate 150 years in business is noteworthy in itself and we are grateful to everyone who has helped us reach this milestone, not least the vendors and purchasers who have proved so very supportive. We are always in their debt and will continue to work tirelessly to repay their trust at every sale, whether they are involved in one horse or are major, repeat clients.
For many years Goffs has acted as the gateway to the world for Irish breeders and we were honoured that David Wildenstein and his family chose us to conduct their important dispersal. Seeing the top lot in each category sell to three different buyers was a demonstration of their appeal with established heavyweights Godolphin and Shadwell being joined by a major new investor at European sales this year, White Birch Farm from the USA. That vote of confidence is mirrored by increasing numbers of vendors who make so many Goffs sales their first choice in Ireland and the UK.
The renaming of DBS to Goffs UK was a natural progression following the merger in 2007 and offers increasing profile to our sales at Doncaster whilst ensuring that we work to the same impeccable standards at every one of the 18 Goffs sales at the six locations at which we sell each year.
The superb results from the teams on both sides of the Irish Sea clearly show the huge appetite for the best bloodstock from these shores but it behoves all of us to work together lower down the scale to address the issues that were clearly evident in certain sectors throughout the autumn. These problems were flagged 12 months ago and whether “polarised” is the correct description of the market, there is no doubt that commercial breeders face significant challenges in the lower tiers of bloodstock trading as the falling clearance rates at certain sales clearly flagged.
Finally we would like to pay tribute to every member of the Goffs teams, past and present, in Ireland and the UK for their contribution to the company in each of our 150 years. Goffs is very much about our people and we are proud to work to the highest standards of integrity in everything we do at every sale and in every area. That has proved to be the hallmark of Goffs since 1866 and will only continue”