Sheridan taking inspiration from Australia to grow Tattersalls Online

Cover image courtesy of Tattersalls

Tattersalls' company’s commitment to expanding the online sales market was further advanced earlier this year when they established a dedicated online sales team led by Katherine Sheridan as the Online Sales Executive and Eliza Quinn as the Online Sales and Marketing Coordinator.

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Too Darn Hot (Dubawi) - Champion Two and Three-Year-Old with his first yearlings at the sales in 2023.

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Irish native Sheridan joined the team having spent nine years in Australia, first as Credit Controller with Magic Millions and then latterly working as Manager of Operations, Client Relations and Marketing at John Kelly’s Newhaven Park, while Quinn, who is born and bred in Australia, was appointed by Tattersalls from her previous role as the Front Of House Manager at Mike Fleming’s Bhima Thoroughbreds.

With the online area of the market in Australia having been well-established for a number of years, Sheridan told TDN AusNZ that when she joined the UK-based sales house she was able to take a lot of inspiration from how far the online market had come in a relatively short period of time in the Southern Hemisphere.

“I took this role in April and I didn’t find the adjustment back to the other side of the world difficult, it came quite naturally to me,” she said. “Once I started to look for positions in Europe this role presented itself and I thought it was a great opportunity for me, certainly having seen firsthand in Australia the abilities of online sales to create another area of the market for trading in our industry.”

Confidence is key

Having worked for two farms who utilised the online platforms on a regular basis, both Sheridan and Quinn came to Europe having seen firsthand the benefits of trading online.

“Having been very familiar with online sales during my time with John Kelly at Newhaven Park in Australia, the greatest benefit of selling online is that it is cost effective and also the fast turnaround at which it allows you to move stock on. You no longer have to wait for set sale dates, if you want to sell a mare in March you can, it provides great flexibility to selling horses.

“Before COVID the online sales in Australia were already well established, but COVID accelerated the necessity to use them and the trust in the platform has continued to grow significantly even after the pandemic.”

Quinn believes that confidence is key to the success of any online platform and something she established during her stint at Bhima.

“During my time at Bhima, we were able to sell horses at all levels on the platform and I think that gives me confidence to pass on to the potential vendors and buyers who want to use the Tattersalls Online platform,” she said.

During the pandemic, with the world locked down and movement in any country a headache for both vendors and buyers, selling bloodstock became more and more difficult, meaning trade online became a focal point for many auction horses, including Tattersalls.

“Online sales in Europe were very much a product of COVID which many people probably didn’t anticipate would carry on after the pandemic on this side of the world, but in the last few months, there has been a steady increase in the number of entries as well as growth in participation and being run by Tattersalls we have the benefit of being able to reach a wide range of people. Having that trusted brand behind it certainly helps to grow it,” said Sheridan.

Encouraging sales

The results show a major shift in the success of the platform. During Tattersalls Online’s August sale, a total of 17 lots sold for an aggregate of 231,500gns (AU$443,000), finishing with an average of 13,618gns (AU$26,000). Last week, their final auction of the year, the growth was encouraging, with 41 horses making 612,600gns (AU$1,172,405).

Sheridan said she has been buoyed by the growing interest in their monthly sale and is hoping 2023 can prove another breakthrough period for the platform.

“Going into the New Year, we have selected dates for monthly sales going into 2023, so it is definitely gaining traction as people are becoming more familiar with the online sales and they are seeing them as a viable option for selling all levels of bloodstock,” she said.

Coming from a country where this type of sale is a mainstay has been a huge advantage for Quinn and Sheridan and they have sought the advice from some major players in Australia, bouncing ideas off them to help make Tattersalls Online as successful as it can be.

“During my time in Australia, I was lucky to forge lots of great connections and friendships. I have been able to call back on people when needed, which has been really helpful since taking the role. Being based in Newmarket, there is also the added benefit of a steady stream of Australians coming to the sales here throughout the summer and autumn months and each offer support and advice, all having been witness to the benefits and potential of online sales,” Sheridan explained.

“Before taking on the role, I discussed the position with a number of friends and mentors in Australia, each offering encouraging advice as all have been witnesses to the unprecedented growth in trading online.”

“I also have a good relationship with Nick Melmeth (Inglis Digital Business Manager). During my time at Newhaven, we began selling regularly through Inglis Digital in the early days of the platform. Nick was always great to deal with and his experience is extensive. Since taking on this role, I have been able to call on him for advice and just knowing that connection is there is reassuring.

“Similarly, Sebastian Hutch is a great source of advice and because of the connection between Tattersalls and Inglis, Sebastian regularly attends the sales here and we would often talk about the expansion of online sales I definitely draw a lot of inspiration from what the online sales have done to date in Australia across both bloodstock houses.”

Quinn explained she approached a few people before taking the job, including Inglis’ NSW Bloodstock Manager, Chris Russell.

“In Australia they really saw an opportunity in terms of the online sales and they seized it with both hands and ran with it,” said Quinn. “They are now the world leaders of online sales and before I came to Europe, I ran some things past Chris Russell at Inglis and I obviously bounced a few ideas off Mike (Fleming) about what we should be doing to get the ball rolling and how we could build its presence in Europe.”

Opening avenues for Australasians

With buyers from Australasia now major players at just about every sale in Europe, Sheridan is hoping that Tattersalls Online can prove another good option for purchasers from the Southern Hemisphere to get their hands on European stock any time of the year.

“Last month we sold the highly rated Royal Robbins to Matthew Smith for 110,000 guineas post-sale. Given our connections to the country, it was fantastic for Eliza and I to see a horse sold to Australia and we hope those sorts of opportunities continue to grow,” said Sheridan.

“With so much trade from Australia from this part of the world and the success of the horses from Europe in Australia, I hope the online platform can become a good source of stock for Australians looking to buy European horses. They trust the online format and it is great that they can now have access to the stock up here at any of time of the year.

“It’s amazing to be able to have that appeal and to be able to deliver the access that wasn’t previously available and it is definitely an avenue of the online sales we are hoping to explore further in 2023.”

Like Sheridan, Quinn is hopeful Australia is a market Tattersalls Online can crack, believing the thirst for European bloodstock is so great throughout Australasia, giving them more options outside the rigid sales calendar could be hugely beneficial for both Tattersalls and buyers throughout Australia and New Zealand.

“Matt Smith already bought one online last month and I think we will be seeing more and more of that because we have Horses In Training Sales, while they are more regular in Europe than there are in Australia, there are only certain times the Australians can come and see the horses in the flesh,” she said.

“At the end of the day, if the right horses come up and a buyer in Australia is interested, the online platform means they can be sold at any time of year and they no longer have to wait for the Horses In Training Sale in October, which I believe can be hugely beneficial.”

Continuing the growth

With the sale dates for Tattersalls Online already locked in for 2023, with the first sale of the year set to open for bidding on January 18 and close the following day, Sheridan and Quinn are both hopeful the platform will continue to grow and become a viable option for selling all levels of bloodstock.

“I would love to continue to attract more buyers and vendors, both domestically and internationally, and continue to grow confidence in the platform,” said Sheridan. “We are already seeing increases in the aggregate, increases in the number of entries, an increase in average and an increase in lots sold, so it’s on a good path at the moment.

“I think for 2023, as long as we can continue as we’re going, we will be in a very good place in another 12 months' time. We want to make Tattersalls Online the first choice for people who are looking to sell online in Europe.”