9 minute read
Changing formats
Arqana has changed its set-up for its August Sale, has created a new two-day September Sale, and has launched a new race series Executive director Freddy Powell explains the thinking and the initiatives
OVER THE PAST TWO YEARS we have became accustomed to bloodstock sale dates and formats changing, it became part of bloodstock life as sales companies adjusted programmes in order to maintain trade during the two years of lockdown complications.
Once again this year the Arqana yearling sales has a rather different format – a half day’s sale on the Saturday of the August Sale, no V2 version to conclude business and a two-day September Sale. However the altered format, for once, has nothing to do with pandemics, but rather French bank holidays. “Monday, August 15 is a bank holiday in France and with traditionally good racing on that day, we could not sell on the Monday afternoon as usual,” explains Arqana’s executive director Freddy Powell.
When the realisation of this emerged the Arqana team considered a variety of differing options. Then when France Galop decided to race on the Tuesday, August 16, it forced a complete reconsideration.
As Powell outlines the changes are maybe part of a natural shift in the make up of the August Sale.
“The August Sale Part 1 and Part 2 started to be a little out of place as there were some really nice horses in Part 2 and by international sires, but a lot of people were not staying.
“So we were thinking anyway, let’s have only one part for August so all the horses will be seen by everyone.
“As all the horses have to be on site from the outset and we can’t use the racecourse stables, it means that are constrained by the number of boxes that we have.
“So the catalogue has had to be little smaller and we have taken out 40 or 50 horses who would usually be in the August Sale. As obviously we are trying to keep the best ones in August, it has made it look a really nice catalogue.”
With those horses out of the August Sale, V2 unable to take place, York races starting straight after the sale, the sale company hit upon staging a September Sale.
In reality it is not a ground-breaking solution – a September Sale was something that had to be enacted through 2020 when the whole of the August Sale had to shift back a month.
“It has advantages as it gives a few more weeks for the horses, and sometimes creating a new rendezvous can give a new buzz for the marketing. We will have the V2 horses, but more, V2 was about 150 horses.
“The V2 Sale was always for mature and forward horses with precocious pedigrees. September Sale is forward, mature horses but not necessarily precocious pedigrees as we don’t produce that many of those horses in France.”
Powell outlines the strategic mix for the three Arqana yearling sales this year.
“We will have August, which will be little like Saratoga, then September will be mix of Somerville and Doncaster, then October which is a real Book 2 and it will be graded – the first two days will be the most important for most international people.”
The vibes are already looking good for the August Sale and, according to Powell, bloodstock and racing people from all around the world, who might not have been able to travel to Deauville for a couple of years, are getting their hotels booked.
“The August Sale is already attracting a lot of people, and reservations are already looking good,” he says. “It is the first year after two years of travel restrictions, lots of Australians, Japanese, Americans are planning to travel – Deauville in August was one of those things that people missed and is one of the first things that people wanted to do again.
“We will put everything in order so that we can welcome everyone and all can have a wonderful few days. We love to again be the place where people want to be.”
Arqana has made a lot of effort over the last decade to position itself as an international quality sale and a destination for international investors and breeders.
However, top quality stock needs to back up the marketing and Powell recognises the financial investments put in by the country’s breeders to achieve these goals.
He says: “The greatest work of all has been from the French breeders over the last few years. They have been buying fillies and mares all around the world and sending them to top stallions, it really means that I am not challenged by any catalogue in the world when I
Online sales
As with all global equine auction companies, COVID led Arqana to create dedicated online sales and, while that was something forced into existence out of necessity, they are here to stay.
Powell says: “A lot of people think they are cheaper and easier to run, they are not easy and it is expensive to run an online sale – you have to do the videos, the photos, it is quite a process. Some people love them, but you have to target the right clientele and have the right horses.
“We are planning a more established calendar for online sales, we have recruited Marine Moussa as bloodstock executive – she will have focus on recruitment and finding new opportunities online.
“In Australia the online sales work tremendously, but it is a big country and has just one set of rules and administration.
“Selling horses in France to French people is easy, selling horses in France to international people is easy, but once you start selling a horse based in England or Ireland there are different jurisdictions, logistics, VAT problems, legal issues.
“For instance, if a horses sells in Ireland, but the hammer falls in France and there is a dispute after the sale, which jurisdiction does it come under? We will go step by step.
“And the new online-only companies, don’t have a standard because they are new, they can do it their own way. But if Arqana or Goffs start selling online, people want the same standard, the same guarantees.”
Online sales of breeding rights
“In November we have our established sale of shares and breeding seasons.
“I think before it was an opaque sector and hidden market; stallion masters were just selling shares or breeding rights to people they knew or could be good for the career of the stallion.
“Now a lot of people have followed the market over the last few years, some people didn’t even know they could buy a share!
“Stallion masters love someone who will support a stallion in the third or fourth years, so it is not ideal if someone has rights but will not do that, but it will find its balance.” see our August catalogue.
“The capital they have invested in bloodstock over the last few years means we have first and second foals out of numerous Group winners and 17 siblings of Group 1 winners. Breeders have used international stallions; it is very exciting, very motivating, and has resulted in a great catalogue.
“We are proud of the August catalogue, it has been very well received. The catalogue might be a bit thinner, but when reading it page after page is good.”
Within our crowded international sales calendar, Powell admits it was difficult to find a slot for the September Sale.
“Yes, it was a struggle and we will do everything we can to help those who want to come from the Somerville Sale at Newmarket to get to Deauville as quickly and easily as possible.
“However, people have got used to being able to be active at the sales, without necessarily being there. Previously if you asked any agent or trainer regarding buying without seeing, they would be shocked, that mentality has changed a lot.”
The results of the inaugural September Sale will be monitored closely by the Arqana team, and its continuation into 2023 will depend on its performance in 2022.
Powell says: “If it works we will definitely keep it, but we are not going to be stubborn about it! We are not trying to fix things that are not broken. We are quite confident, the catalogue is good, we will do everything we can do attract people and the horses have been selected as individuals.”
New exciting race series
In July, Arqana announced sponsorship of a new race series for the sales company’s unraced graduates and that has several objectives both for Arqana and French racing in general.
“We believe that anything we invest into racing and sponsorship has two goals,” outlines Powell.
“The first is to reward those who are buying at Arqana and who trust the French system, the other objective is to attract new owners and work with France Galop. Like everywhere in the world France is losing owners and it is something we want to address.”
As with sales, Arqana has decided to position the unique benefits afforded to it by the Deauville and ParisLongchamp locations.
“Prize-money is a good thing, it is important, but experience is even more important,” he says. “By sponsoring in August around the weekend of the sales and on Arc weekend, we can offer our buyers an experience at those wonderful meetings.
“All those people who have a runner in the Criterium on Arc weekend the last few years, have said it has been quite special.
“We will be selling on Friday next year, and there will be a new evening race meeting the night before for these races. It will definitely create a dynamic and give a proper experience.”
It might seem a little strange to focus on untried horses, but there was a strategy around that thinking, too.
“We wanted to give as many people a chance to run on that day in August so we thought what is the biggest population of horses that we have in the middle of August and we realised that is the unraced horses. So we have two unraced maidens over the straight 7f at Deauville straight.
“We have a lot of American owners who say that at the Saratoga and Del Mar meetings they are running horses in $100,000 maidens – so we thought why can’t we do the same here?”
