'It’s no different to the stock market’- Unwala outlines Avesta's strategy and mating plans

Cover image courtesy of Inglis

Jimmy Unwala’s Avesta Bloodstock was a very active buyer during the 2023 sales season, adding more than 20 horses to its broodmare band.

At this year’s Inglis Chairman’s Sale, Avesta Bloodstock signed for three mares. Unwala went to $150,000 for Spring Colours (GB) (Shamardal {USA}). In foal to Newgate Farm Stud’s Wild Ruler, she was consigned by Twin Hills Stud. Unwala also paid $250,000 for the stakes performer Acouplamas (Al Maher). She was in foal to So You Think (NZ) and was offered by KBL Thoroughbreds.

“We’ve always targeted the Chairman’s Sale because we do find that sometimes people think it’s too elitist a sale, but it’s not the case. Yes, it’s a very strong sale, it’s very hard to buy, but if you do your research and wait for the right ones, sometimes you can find good value,” Unwala told The Thoroughbred Report.

“I have bought some expensive ones at that sale, but usually I’m buying at the bottom-end. Those same mares may make more money if they were in the general session as they may stand out more.

“Where you buy your mares is very important.”

Later in May, Avesta Bloodstock was again busy, this time at the Magic Millions National Broodmare Sale, purchasing seven mares, with three of those in partnership with Rathmore Bloodstock and McConnell Bloodstock. Unwala went to $300,000 for the Coolmore Stud-consigned Sheer Treasure (Not A Single Doubt) - a 1600-metre winner who was in foal to St Mark’s Basilica (Fr). Wanda’s Legacy (Wandjina) - a winner at 1300 metres - was another Avesta Bloodstock purchase. She was offered by Blue Sky Premium Consignment and fetched $170,000.

“Over the past couple of years, I have formed a couple of really good partnerships. One is with Fernrigg Farm, and we have also bought a few with Rathmore in South Australia. It’s good to have diversity in the bloodstock and I can’t go it alone and buy an $800,000 broodmare. If there’s two or three of us, we get along, we have the same idea and long-term goals, it’s easier to form these synergies and then buy horses,” Unwala said.

“The plan is to eventually bring the broodmare band down to a small number but better quality. At this stage, I have shares in about 120 broodmares. We own a lot of mares 100 per cent, some are 50 per cent, some we only have 10 per cent.

“We try to improve the quality every year.

“And it’s the same approach with the stallion choices, if we team up together we can afford to go to some of the better stallions.”

Unwala explained that Avesta Bloodstock has a breed-to-sell business model and it is always on the hunt for value.

“It’s all commercial, we’re not really looking to breed to race anything. Everything we breed is for sale. Occasionally, we keep shares in some of the horses, if we like them enough,” he said.

“We are speculators, so we don’t go to a sale with a set plan of how many we want to buy. We just go and look at everything and if there’s a mare worth $100,000 and she’s only making $40,000, and we think it’s $60,000 below market value, we will buy her and then we will work out what we do with her. It’s no different to the stock market.”

Faith in Anamoe

Unwala has been ultra-impressed by the recently retired Anamoe - a nine-time Group 1-winning son of Street Boss (USA), who will stand his debut season at Darley Kelvinside for $121,000 (inc GST).

“I went to the stallion parades in the Hunter Valley and Anamoe was amazing, he is a very good-looking horse. If you just looked at him without knowing his record, you would say, ‘He’s a very nice horse’, and then he’s got nine Group 1 wins to his credit,” Unwala commented.

Unwala will send a host of broodmares to Anamoe, including Seewhatshebrings (Sebring), Acouplamas and Elizabeel (Power {GB}).

Avesta Bloodstock, in partnership with Fernrigg Farm, bought Seewhatshebrings, in foal to Bivouac, for $800,000 from the Twin Hills Stud draft at the 2022 Inglis Chairman's Sale. She notched three wins and was stakes-placed and is a half-sibling to the stakes winners Malkovich (Choisir), Olentia (Zoustar) and Wandabaa (Wandjina).

“She will probably be the most commercial mare of the entire portfolio,” said Unwala.

“We took her to Snitzel last year and now she will go to Anamoe.

“Anamoe is a very easy horse to mate to and she’s a very beautiful mare. They’re two very good-looking horses.

“Since we bought her, there’s been a good update, with Olentia winning the James Carr Stakes.”

American mare to Russian Revolution

Avesta Bloodstock and Fernrigg Farm paid $400,000 for the four-time winner and stakes performer Gone Glimmering (USA) (Tapiture {USA}) at last year’s Magic Millions National Broodmare Sale. She was offered by Newgate Consignment in foal to Lope De Vega (Ire). Her second dam is the multiple-listed victress Debit My Account (USA) (Classic Account {USA}).

“We do try and buy a lot of outcross mares. There’s nothing wrong in buying a mare with Danehill blood, but it really restricts you with stallions these days,” Unwala commented.

“She was a nice mare, she had good American form. A lot of times mares come from America and some people would not be able to line up the form. She was Group-placed at Churchill Downs and ran fourth in a Group 1 at Keeneland.

“She went to Zoustar last year and this year she will go to Russian Revolution.

“I think where Russian Revolution is going, he’s on an upward trajectory, so it’s a nice mating.”

Darley’s super sire for a Darley mare

Another Avesta Bloodstock-Fernrigg Farm buy at the 2022 Magic Millions National Broodmare Sale was the Reset mare Tragic. She was offered by Godolphin in foal to Exceed And Excel and made $600,000.

A winner at two, Tragic is from a beautiful Darley family, with her dam, Melpomene (Elusive Quality {USA}), a stakes-performing half-sister to the Group 2 scorer Bound For Earth (Northern Meteor). A daughter of the G1 heroine Bulla Borghese (Belong To Me {USA}), Melpomene has produced the stakes winners Calliope (Exceed And Excel) and Zethus (Exceed And Excel).

“Her Exceed filly is one of the best foals we had on the ground and she will probably head to Magic Millions in January,” Unwala commented.

“This family just potently works with Exceed; there’s four stakes winners by him in the first dam. It’s the most obvious cross and you don’t need to reinvent the wheel if it’s working that well.”

A fan of Farnan

Kia Ora Stud resident Farnan, who stands this spring at a fee of $55,000 (inc GST), is another young stallion that Unwala has been impressed with.

“I saw Farnan again at the stallion parade and he is getting better with age. We really like him as a stallion and we reckon he will make it. I really liked his weanlings and I have a few on the farm that we bred; they are really nice,” he said.

Unwala will send the unraced Fastnet Rock mare Left Bank to him this spring. Left Bank was offered, in foal to Justify (USA), at last year’s Magic Millions National Broodmare Sale.

She was bought for $320,000 by Avesta Bloodstock and Fernrigg Farm. The mare is closely related to the Group 1 winner and Group 1-producing sire Casino Prince, the Group 3 scorer Tagus (Encosta De Lago), as well as Listed winners Metallurgical (Redoute’s Choice) and Lord Of The Land (Timber Country {USA}). Furthermore, Left Bank is a half-sister to the Group 2 victor Best Of Bordeaux, who stands this spring at Coolmore at a fee of $27,500 (inc GST).

“She’s very well-bred, being a half to Best Of Bordeaux,” Unwala said.

“I think we got her quite cheap.

“She had a very nice Justify filly, then went to Home Affairs, and she will go to Farnan. With Farnan, that Danehill-Redoute’s Choice blood works really well.

“If we believe that a horse could be a really good stallion in time to come, we try and send one of our better mares to him in his third season. My logic is, you send your top mare to a stallion you want to punt because if it does come good, then you probably have the top 10 per cent bred to that stallion in that crop, so you really get very good appreciation for your yearling.”

Plenty of love for Capitalist

Newgate Farm’s rising star Capitalist will cover a number of Avesta Bloddstock’s broodmares, including Amalgamate (Zenno Rob Roy {Jpn}), Wu Darl (Dundeel {NZ}) and Sienna Lady (Ire) (Lope De Vega {Ire}).

“We have a few going to Capitalist. He’s covered his best two books in the last two years, that’s when his fee jumped up to $90,000. On the back of those two books, I reckon he will have a good surge. He’s already done a very good job, he has three sons at stud, including Captivant who is a Group 1 winner,” said Unwala.

“He is good value at $70,000 (before GST), in my opinion.”

Avesta Bloodstock/Rathmore Bloodstock/McConnell Bloodstock paid $160,000 for Amalgamate at the 2023 MM Gold Coast National Broodmare Sale. The four-time winner, who has thrown the Group 3 scorer Ecumenical (Zebedee {GB}), was offered in foal to St Mark’s Basilica by Mill Park Stud.

“She’s another outcross mare and she has done well, producing a stakes winner in Ecumenical,” Unwala explained.

“She’s from a really nice family and it’s a very commercial page.

“She is getting on in years and we wanted to give her a chance with a proven stallion.”

A half-sister to the four-time Group 1 heroine Montefilia (Kermadec {NZ}), Avesta Bloodstock and Rathmore Bloodstock bought Wu Darl for $220,000 at the 2022 Inglis Chairman's Sale. She was offered in foal to Widden Stud resident Anders by Bell River Thoroughbreds. Wu Darl won the one race - a 1600-metre maiden.

“She’s also well-bred, being a half to Montefilia,” Unwala remarked.

“Her Anders colt is really nice and he will probably head to the (Inglis) Premier Yearling Sale.

“She hasn’t yet been to a proven stallion, so we will send her to Capitalist. He gets 2-year-olds, so if the first two foals aren’t doing much, her Capitalist might come out and do something for us.

“She is a beautiful mare, one of my favourites.”

Avesta Bloodstock teamed with Rathmore Bloodstock and McConnell Bloodstock to acquire Sienna Lady at this year’s Inglis Chairman’s Sale. She was consigned by Glenesk Thoroughbreds, in foal to Palace Pier (GB), and made $240,000. A winner in Ireland, Sienna Lady is closely related to a number of stakes winners, including the Hong Kong-based Group 1 hero California Spangle (Ire) (Starspangledbanner).

“Her Palace Pier foal is a very nice foal, it has a lot of power,” he said.

“She is another outcross, she doesn’t have any Danehill.

“We bought her because it’s a very good European family and she has California Spangle in the first generation, so there is a little bit of an Australian flavour to it. Commercially, when we are buying mares like that, we might like something, but we are sellers, so we have to think about what the market would want. That probably pushed us to buy her.”

Table: A selection of matings Avesta Bloodstock is planning for 2023