US$ 2 MILLION DOLLARS FOR A HORSE?

Although this is nothing new, paying million dollar prices for horses is
still a rarerity. When it happens, it is big news. However, two million
dollars is extraodinary. This happened twice in two day for progeny from
the same mare at the JHRA Select Sale in Chitose, Hakkaido, Japan.

Just five days before a major earthquake hit western Japan, Riishi
Kondo, rocked the JHRA sale when he bought two half brothers to Admire
Moon. He, of course, owns the top notch Dubai Duty Free winner. The
construction businessman allowed no one else to get their hands on the
half brothers to his champion. He went to 2 million U.S dollars for both
the yearling colt and the foal on two consecutive days of the sale.

In the meantime, the small foreign contingent at the sale, couldn't
believe the prices, but it served to show that if your prize money for
races, is high enough, then the impact is felt throughout the market,
most especially in the breeding sector. Japan has the richest prizes for
its races in the world, but to gain Japan Racing Association ownership
is a lengthy and difficult process. So difficult and selective is the
procedure, that the Ruler of Dubai's application has been denied on
several occasions. News has it that he will be accepted this time around
and rightfully so as he and his stud operation, Darley, can do much to
promote the Japanese racing industry - a view not shared by all in Japan.

The JRHA Sale is a slick affair. Horse are sold quickly and decisively.
Owners pay good money for good horses and as the saying goes, "good
horses always sell well." This was the case at this sale.

However, a strange issue about the Japanese market is that they prefer to buy
foals. This is unique the world over with most racing nations preferring
to buy yearlings. For the uninitiated, foals can range from just over a
month old to 6 months old, when sold at this July sale. Northern
Hemisphere bred horses are born in the first half of the year.

The highlight of the Hakkaido region trip was no doubt the meeting with
Deep Impact. He is a living legend and loved in all of Japan. The
stallion will be mated to in excess of 250 mares this season (thats 3 to
4 coverings a day), an extraordinary amount by normal standards but not
exceptional in Japan. Meeting the Yoshida family brothers was also a
major highlight. They are the leading breeding family in Japan and have
the most powerful stallion station in the country. Deep Impact is the
only stallion in their barn of million dollar horses, to have his very own
guard. This is in a country that was by far the safest I have visited to
date. He is worth in excess of US$50 million dollars at present which is
the gross GDP of some countries.

With many stories to tell from the trip to Japan, I will cut this issue
short and bring out more bits and pieces from the trip in future entries.