ELEMENT HILL: A Risk Averse family affair
NATHAN EXELBY
TYPHOON Tracy may sadly no longer be with us, but her feats were the catalyst for the Hutchins family’s Element Hill becoming a serious player in Australia’s bloodstock market Typhoon Tracy, Australia’s Horse of the Year in 2009-10, was the result of John Hutchins and his wife Fu Mei’s first serious tilt in the bloodstock business.
“Magic Millions blew our expectations out of the water (in 2018). Not only him, but the other two horses that made $700,000 and $650,000. It was such a surreal sale for us.
The Peter Moody-trained mare retired as the winner of 11 races, six of them at Group 1 level, making it a dream entry at the pointy end of the market for the Hutchins.
“What we budgeted was about 20-30 per cent less than the aggregate we got.”
A decade down the track, it has become a real family affair, with son Josh overseeing Element Hill’s broodmare and yearling portfolio. Element Hill had its biggest milestone to date at the 2018 Magic Millions Gold Coast Yearling Sale, selling a Fastnet Rock colt from their stakes winning Encosta De Lago mare Risk Aversion for $1million to Tom Magnier and John O’Shea. “We had never come close to selling a million dollar horse. We always thought he was going to make a bit of money, but if you asked me if he was going to make that, I would have said no,” Josh says.
“I THOUGHT 600, 700, MAYBE $800,000. “It was nerve wracking. Bidding stalled at $800,000 for a bit. I thought ‘this is great’ but being so close, I just wanted it to get there. “When Tom Magnier went bang, $1M, I just had a big smile on my face and it was a great experience.
70 / ELEMENT HILL MMGC 19_Element Hill.indd 70
Element Hill sold 17 yearlings on the Coast last year for an aggregate of $5.175million, putting it sixth on the list of vendors by average (for 10 or more sold). It was the coming of age for a farm that has only been fully operational since 2011. The Element Hill property, which is next door to Glenlogan Park just outside Beaudesert in Queensland’s south-east corner, was purchased in 2009, against the recommendation of Hutchins’ long time bloodstock advisor Neil Jenkinson. “Neil said I was a moron if I set up the farm, but said if we really want to and love it, go ahead, but I think you’re a moron,” John tells. “It was always something I wanted to do.” Fu Mei said it was a lifestyle decision. “We used to have a farm in Scone (Turangga), but the farm was down there and for us to be able to enjoy, we want to visit the farm often,” she said. “If we want to have a real lifestyle, in touch with all of these animals, we would like to do it day by day. And more convenient travelling.” It’s now easy for John and Fu Mei to commute between the Gold Coast and Element Hill, under which banner the family has sold for the past four years. Lot 239, Fastnet Rock - Risk Aversion
22/11/18 2:28 pm
