2024 News

Summary of thoroughbred sales in 2023

By Shoichi Narita, The Japan Bloodhorse Breeders' Association (JBBA)

Note: Figures in bold exceeded the year-earlier result

General overview of thoroughbred foal sales in 2023

◆ Total sales for two auctions exceeded 17.9 billion yen, and the average price and sales vs. offered ratio reached record highs.
◆ The highest price was paid for a colt whose sire was Contrail and whose dam was Conviction (ARG), purchased for 572,200,000 yen.

As in 2022, thoroughbred foal sales in 2023 were held at two auctions: the Select Sale held under the auspices of the Japan Racing Horse Association (JRHA), and the Northern Farm Mixed Sale for foals held by Northern Horse Park Co., Ltd. Out of 275 head (159 colts, 116 fillies) put up for auction, 263 head (151 colts, 112 fillies) were sold. This corresponded to a sales vs. offered ratio of 95.6%, which reflected a 0.4 point decrease from the previous year. Total sales were 17,938,800,000 yen, a 10.3% increase from the previous year. The average price rose to a record-high 68,208,365 yen, a 10.3% increase from the previous year, and the median price was 40,700,000 yen, an 11.9% decrease from the previous year. Sales of racehorses were evidently robust, and the auctions benefitted from the largest generational change in sires on record. In addition, many of the foals put up for auction were the progeny of new sires (both overseas and domestic) without an established track record, and this appeared to further stimulate purchasing appetite. The number of foals sold for a price above 100 million yen was 37 (31 in the previous year), and the number of foals sold for a price above 50 million yen but below 100 million yen was 114 (114 in the previous year). Together, these accounted for 43.3% of the total sales.

The highest price was paid for a colt whose sire was Contrail and whose dam was Conviction (ARG), purchased for 572,200,000 yen by North Hills Co., Ltd. from Osaka Prefecture in the Select Sale. Among fillies, the highest price was paid for a filly whose sire was Contrail and whose dam was She’s a Tiger (USA), purchased for 308,000,000 yen by Susumu Fujita from Tokyo.

Reviewed by each sire in terms of average price, Into Mischief (USA) was tops with one head sold for 176,000,000 yen, followed by Epiphaneia (13 head put up for auction, all sold) in 2nd place, at 175,830,769 yen, and Contrail (first generation; 22 head put up for auction, all sold) in 3rd place, at 135,400,000 yen. Among sires that produced their first generation, Benbatl (GB) occupied 2nd place with one head sold for 72,600,000 yen (9th place overall).

General overview of thoroughbred yearling sales in 2023

◆ Total sales were 32,952,920,000 yen, up 9.7% from the previous year. The outcome also marked the 15th consecutive year-on-year increase and the 14th consecutive record high.
◆ The highest price was paid for a colt whose sire was Kitasan Black and whose dam was Include Betty (USA), as well as for a colt whose sire was Silver State and whose dam was Palace Rumor (USA), both purchased for 341,000,000 yen.

Thoroughbred yearling sales in 2023 were held at seven auctions across the country for 15 days, from the Kyushu Yearling Sale held on June 20 to the Hokkaido Autumn Sale held on October 17. The Kyushu Yearling Sale, Hokkaido Sale, and Select Sale were conducted as hybrid auctions, while the Hachinohe Sale was held as a regular auction. In the overall yearling sales, a total of 2,924 yearlings (1,571 colts, 1,353 fillies) were put up for auction, marking a record high, and 2,330 head (1,298 colts, 1,032 fillies) were sold, renewing the sold head record for a 15th consecutive year. This corresponded to a sales vs. offered ratio of 79.7%, marking a 0.3 point increase from the previous year. Total sales were 32,952,920,000 yen (a 9.7% increase from the previous year). The outcome marked the 15th consecutive year-on-year increase and the 14th consecutive record high. The average price was 14,142,884 yen (a 4.6% increase from the previous year), remaining above the 10 million yen level for the eighth consecutive year and marking the ninth consecutive record high. The average price for a colt was 17,456,271 yen (a 3.1% increase from the previous year), and the average price for a filly was 9,975,465 yen (a 7.2% increase from the previous year). The median price was 6,380,000 yen, reflecting a 7.4% increase from the previous year.

As for the Select Sale by the JRHA, total sales were 14,701,500,000 yen, a 3.8% increase from the previous year. In the Hokkaido Sale under the auspices of the Hidaka Horse Breeders’ Association (HBA), out of 2,630 head put up for auction, 2,071 head were sold, corresponding to a sales vs. offered ratio of 78.7%. Total sales were 18,096,430,000 yen (a 14.9% increase from the previous year), and the average price was 8,738,015 yen (an 8.9% increase from the previous year), marking a record high. The Nikkei Stock Average, an economic indicator, started at 25,716.86 yen at the beginning of the year, and rose to 32,040.29 yen (a 24.6% increase) by October 17, the final day of the Yearling Sales, so the strength of the thoroughbred sales was in line with the economic momentum.

The highest price in a transaction at the Select Sale was paid for a colt whose sire was Kitasan Black and whose dam was Include Betty (USA), purchased for 341,000,000 yen by Danox Co., Ltd. from Osaka Prefecture, as well as for a colt whose sire was Silver State and whose dam was Palace Rumor (USA), similarly purchased for 341,000,000 yen by TN Racing from Tokyo. Among fillies, the highest price in a transaction at the Select Sale was paid for a filly whose sire was Duramente and whose dam was Donna Blini (GB), purchased for 231,000,000 yen by TN Racing from Tokyo.

Reviewed by each sire in terms of average price, Kingman (GB) was tops with one head sold for 330,000,000 yen, followed by sire Wootton Bassett (GB) in 2nd place, with one head sold for 297,000,000 yen. Among sires that produced their first generation, Siskin (USA) (two head put up for auction, both sold) was tops, at 45,650,000 yen (13th place overall).

General overview of thoroughbred two-year-old sales in 2023

◆ Total sales were 2,106,610,000 yen, up 26.7% from the previous year. The average price was 14,428,835 yen, up 33.6% from the previous year.
◆ The highest price was paid for a colt whose sire was Lord Kanaloa and whose dam was Dancer Destination (GB), purchased for 110,000,000 yen at the Chiba Thoroughbred Sale.

Thoroughbred two-year-old sales in 2023 were held at two auctions over two days. For the two auctions, a total of 174 head (103 colts, 71 fillies) were put up for auction, and 146 head (84 colts, 62 fillies) were sold. The sales vs. offered ratio was 83.9%, the highest level on record. The Chiba Thoroughbred Sale under the auspices of Chiba Ryoso Agricultural Cooperative Association was held at the Funabashi Racecourse for the first time in the four years since 2019. Both auctions were held as a hybrid auctions.

Total sales were 2,106,610,000 yen, a 26.7% increase from the previous year. The outcome was below the level recorded in 2021, when a record-high price of over 500 million yen was paid for a thoroughbred two-year-old, but still recovered to the 2 billion yen level. The average price was 14,428,835 yen, a 33.6% increase from the previous year and the second-highest amount on record. The median price was 8,800,000 yen, a 12.7% increase from the previous year and the highest amount on record.

In the Hokkaido Training Sale, which was held for the eighth time at the Sapporo Racecourse, out of 116 head (72 colts, 44 fillies) put up for auction, 91 head (53 colts, 38 fillies) were sold, corresponding to a sales vs. offered ratio of 78.4%. Total sales were 667,040,000 yen, the average price was 7,330,109 yen, and the median price was 6,600,000 yen. Meanwhile, in the Chiba Thoroughbred Sale, out of 58 head (31 colts, 27 fillies) put up for auction, 55 head (31 colts, 24 fillies) were sold, corresponding to a sales vs. offered ratio of 94.8%. Total sales were 1,439,570,000 yen, the average price was 26,174,000 yen, and the median price was 22,000,000 yen.

The highest price was paid for a colt whose sire was Lord Kanaloa and whose dam was Dancer Destination (GB), purchased for 110,000,000 yen at the Chiba Thoroughbred Sale by Shorai Hayashida from Osaka Prefecture. Among fillies, the highest price was paid for a filly whose sire was Drefong (USA) and whose dam was Seaside Romance, purchased for 60,500,000 yen by Hiroharu Kurimoto from Nara Prefecture.

Reviewed by each sire in terms of average price, Lord Kanaloa was tops with one head sold for 110,000,000 yen, followed by Heart’s Cry in 2nd place with one head sold for 103,400,000 yen. Among sires that produced their first generation, Bricks and Mortar (USA) (two heads sold) was tops, at 34,650,000 yen (7th place overall).

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