Cover image courtesy of Inglis
Chayan (I Am Invincible) was undoubtedly the star of the show at last week’s Inglis Chairman’s Sale, but there were wins across the catalogue for buyers and vendors alike. Owners who put their fillies and mares in the Newgate Consignment were amongst the winners, with 15 of the 17 lots offered in the ring selling for a leading aggregate of $12.9 million and an average of $857,000.
In partnership with Milan Park, Newgate also offered Group 1-winning Provence (NZ) (Savabeel), who was knocked down for $1.8 million, the third highest price in the sale, to Yulong.
The continued momentum from successful yearling sales into the breeding stock sales has kept spirits high for Newgate director Henry Field, who was active on both sides of the buying sheet last Thursday evening. In his eyes, the current market offers the perfect opportunity to invest.
Doing your homework
“It was an amazing sale,” Field said. “The execution by Inglis was unbelievable. The team worked tirelessly and relentlessly to put on an amazing show, and the sale was phenomenal. I feel like the market was a little softer than it has been in previous years, which is probably in line with the overall economic conditions.”
“I feel like the market was a little softer than it has been in previous years, which is probably in line with the overall economic conditions.” - Henry Field
The sale’s average and medium had declined slightly from the 2025 edition of the sale, and Newgate’s average from Thursday - Provence excluded - was nearly double the $494,747 averaged across the whole catalogue. The consignor’s clearance rate of 88% is much stronger than the 74% currently achieved by the sale, and better than the leading vendor by average.
Less seven-figure lots were achieved than in the 2025 edition, however Chayan’s $5.6 million sale, achieved in a prolonged bidding duel where Coolmore dealt the winning blow, set a new record at the sale’s top end.
“Chayan was the jewel in the crown of the sale, and every big bloodstock entity that does business in Australia was bidding on her,” Field said. “But I thought that outside of her, some of the prices for the highlight lots had probably softened fractionally from previous years.”
Chayan | Image courtesy of Inglis
The softening is, to Field’s commercially-minded eye, not a bad thing at all.
“I think that also represented a great opportunity for buyers to get involved in the market and buy some really quality stock,” he said. “I think the softening of the market probably is not a bad thing. I felt that if you reserved your mare at the right price, there was still a really liquid market to trade. There was certainly an appetite to buy at all levels.
“It really felt like if you did your homework, there was some really great buying across the board. I think that bodes well for the Magic Millions sale on the Gold Coast in the coming weeks too. There’s a lot of mares going to that sale and there will be a lot of opportunities across the market from a buying perspective, which is very healthy.”
“It really felt like if you did your homework, there was some really great buying across the board.” - Henry Field
The good ones still don’t come cheap, but Field felt that the sale resulted in a fair valuation for most of the stock available. Of the lots passed in, only one had a seven-figure reserve and bidding did cross the million-dollar threshold on the night.
“You still have to pay for quality, but I feel like these mares right now are trading at their genuine value, and if you do your homework right, that gives you a great chance to get ahead.”
Henry Field | Image courtesy of Ashlea Brennan
Purchasing Extremely carefully
Field was amongst those buyers keenly doing their homework, with Newgate Bloodstock signing for four lots for a total spend of $1.52 million. All fillies and mares coming fresh off the track, the quartet was made up of Listed winners Tiger Shark (Rich Enuff) and Miss Icelandic (Deep Field), four-time winner Blackberry Bomb (Brazen Beau), and stakes-performed Poppin’ Champagne (Written Tycoon).
“We're very price conscious when we're buying, but ultimately we were looking for mares who would be a great physical for Extreme Choice,” Field said. “Young, fertile mares have the best chance of getting in foal to him, and they are all mares that we thought would suit him well.”
“We're very price conscious when we're buying, but ultimately we were looking for mares who would be a great physical for Extreme Choice.” - Henry Field
An eight-time winner including the Listed Mick Dittman Plate and multiple stakes-performed, Tiger Shark was the most expensive purchase at $450,000. Blackberry Bomb, a metropolitan-winning half-sister to the Listed winners Shesallshenanigans (Toronado {Ire}) and Shelby Cobra (Toronado {Ire}), was the cheapest purchase at $290,000.
Tiger Shark | Image courtesy of Inglis
Field admitted that there “wasn’t much gas in the tank” when it came to spending at the sale, but all four mares were purchased for the values he thought they would make, given the current market conditions.
“But we also already have a large quality broodmare band, so we are picking the eyes out of the market and selecting only mares that we thought were really, really ideal for Extreme Choice and were trading at fair values,” he said.
Past selections of mares for the elite-producing stallion traded exceptionally well at the sale. Three mares were offered in foal to Extreme Choice at the Chairman’s Sale, all of whom were offered by Newgate; two sold for in excess of $1 million and one for $600,000, resulting in an average of $950,000.
Extreme Choice | Standing at Newgate Farm
Given his seven-figure average at the recent Inglis Australian Easter Yearling Sale, purchasers can expect to not have to wait too long to see dividends on their purchases.
A headliner at every farm
Something that Field appreciates as well is the diversity amongst the current top end stallions, and the wider opportunities it provides for breeders to achieve commercial success.
“I think one of the big things is how all of the major stud farms have got a very good stallion at the head of their roster,” he said. “I think it’s a very healthy thing for the market. We have Extreme Choice, Arrowfield has The Autumn Sun, Coolmore have Home Affairs, Vinery have Ole Kirk, Widden have Zoustar, Darley have Too Darn Hot… All the commercial farms have a headline horse. It’s good for the industry to have the quality spread out like that.”
“All the commercial farms have a headline horse. It’s good for the industry to have the quality spread out like that.” - Henry Field
And that spread should encourage more people to play the game.
“I think it’s a great time for people to be playing in the breeding space and investing in quality mares, because it’s a market right now where you can get some value without paying overs, and there’s several different avenues to take your mares down.”
While he claims not to have a crystal ball for how the market will look in three years’ time, when the first foals out of his Chairman’s purchases will have walked through the ring, Field can see the top end remaining just as strong as it is now.
“I think it's actually impossible to guess,” he said, “but while the industry has some challenges, it is overall quite a healthy industry if you have the right stock. It’s tough at the lower end, but the quality at the top is strong, and I can’t see that changing or falling away much. If you have the right quality stock, I think you will be well rewarded at the yearling sales of the future.”
“If you have the right quality stock, I think you will be well rewarded at the yearling sales of the future.” - Henry Field
Making magic on the Gold Coast
Chairman’s purchases secured, Field now turns his attention to the Magic Millions Gold Coast National Broodmare Sale on May 26 and 27. The Newgate team will offer 41 mares, 28 of whom are in foal, at the Gold Coast complex.
“We’ve got some beautiful mares,” Field said. “Including two Group 1 winners for Te Akau Racing, Captured By Love and Quintessa. Captured By Love was a very, very fast 2-year-old Written Tycoon filly, who I think will be one of the most popular mares in the sale, and Quintessa is an outstanding Group 1 winner with Australian form. She will be another highlight mare.”
“Captured By Love was a very, very fast 2-year-old Written Tycoon filly, who I think will be one of the most popular mares in the sale.” - Henry Field
The consignment will also offer three mares in foal to Extreme Choice; Newgate-born-and-bred Miss Hellfire (Hellbent), Amen Corner (I Am Invincible), and Complicit (USA) (Blame {USA}).
“I think Miss Hellfire will be the most desirable one of the group,” Field said. A three-time winner and placed up to Group 2 level, Miss Hellfire is a half-sister to Listed Woodlands Stakes winner Xtremetime (Extreme Choice) and two other stakes performers. “She’s out of one of the best producers on the farm, Peace Time. Her three-quarter-sister made $800,000 at Inglis Easter this year.
Miss Hellfire | Image courtesy of Sportpix
“She’s a very fast, precocious type, she’s just a beautiful mare. I don’t think there will be any better mare offered in foal to Extreme Choice this year than Miss Hellfire.”
“I don’t think there will be any better mare offered in foal to Extreme Choice this year than Miss Hellfire.” - Henry Field
Amen Corner will be carrying her second pregnancy to the farm’s flagship sire, having delivered a colt by him in August of last year.
“Amen Corner had a lot of talent,” Field said. “She’s a Vinnie mare out of Group 3 winner Augusta Proud, and she has a cracking Extreme Choice colt on the ground. She’s back in foal to him on a September cover.”
Augusta Proud (More Than Ready {USA}) won five stakes races, including the G3 SAJC Breeders’ Stakes and the G3 RN Irwin Stakes, and has already produced G3 Thoroughbred Breeders’ Stakes victress Thyme For Roses (Redoute’s Choice), dam of American multiple stakes winner Zeitlos (USA) (Curlin {USA}).
Complicit’s sire Blame (USA) has been in the headlines down under once again, courtesy of his daughter Ms Bad Behavior (Can) producing her second stakes winner from three to the track.
“He’s an incredible broodmare sire,” said Field. “And she had an absolute belter of a Snitzel yearling who was bought by James Harron for $825,000 this year at the Gold Coast.”
Complicit | Image courtesy of Magic Millions
That is already a good return on investment for Complicit’s owners - when just US$95,000 ($131,000) was paid for her by Blue Sky Bloodstock at the 2020 Keeneland November Breeding Sale, and her first foal Silent Uprising (Russian Revolution) was a $280,000 yearling. Another Snitzel filly will represent her at next year’s yearling sales, while her future purchaser will benefit from a lucrative pregnancy to Extreme Choice.
For the buyers following Field’s advice to do their homework, there is plenty to like.
“We’ve got an amazing draft of mares for the Gold Coast and we can’t wait to do it all again up there next week.”
