News

Quick Questions - Jonathan D'Arcy

30th Mar 2009

Stallions - Graeme Kelly - Monday, 30 March 2009

With the Inglis Australian Easter Yearling Sale drawing close, Graeme Kelly from Stallions spoke with company director and auctioneer Jonathan D’Arcy about this year’s offering and other matters:

Q.: How is the Australian Easter Yearling Sale shaping up

A.: We are thrilled with the standard of horse that will be offered at Easter this year. While the market is certainly depressed, Easter 2009 represents an opportunity to buy some of the best racetrack prospects in Australia at prices that have not been seen for many years.

Q.: The catalogue seems of exceptionally high quality with both Redoute’s Choice and Encosta de Lago having more than 70 yearlings included.

A.: These two stallions are undoubtedly in the top echelon of sires we have seen over the last decade. To have over 70 each available in one sale is a veritable smorgasbord for horse enthusiasts who will be able to invest in some outstanding bloodlines for a fraction of what they have been making over the last few years.

Q.: The standard of broodmares represented appears to be higher than ever

A.: The strength of the catalogue is not only on the pedigree side but also in the physical make up of the yearlings to be offered at Newmarket. Breeders have supported the sale with their best yearlings and the buyers will have the benefit of their good work over the three days of the sale.

Q.: How much of a concern is the continuing economic meltdown

A.: The economic crisis is something we, as an industry, must live with. What it means for Easter is in my opinion a drop of around 30 per cent on 2008 values, which will open the way for buyers who may have been scared off in the past four to six years due to the strength of the market and the difficulty purchasing at the top end. Prize money in Australia has never been better and this year’s Easter sale will be the best value sale in Australia for the last 10 years.

Q.: The decline in the value of the Australian dollar should help the sale, where overseas buyers are concerned.

A.: While the decline in the Aussie dollar in theory helps the sale the reality is that markets like Europe, America, Japan, Hong Kong and South Africa are suffering as much, if not more, than we are in the current economic conditions. So while we would like to think that our trade missions to those countries will bear fruit it is likely that these buyers will be under the same constraints as the local market is under.

Q.: What has the response to the sale been like from overseas buyers and agents

A.: We have had a good response from our overseas marketing programme. The success of Inglis graduates around the world over the last three years has not gone unnoticed with the major players and we are expecting a good role up of buyers from Hong Kong, Singapore, Japan, Europe and several other centres by the time we begin bringing the gavel down.

Q.: On a personal note did you join Inglis directly from Queensland

A.: I left school after year 12 in Brisbane and worked for two years in the industry. Initially I was on a small stud at Beaudesert, outside Brisbane, and then I worked for Joe Manning at his Woodburn property at Cootamundra in New South Wales. I then did the horse management course at Glenormiston College in western Victoria for two years before a six-week work experience placement at Inglis led me into a full time role with Australia’s leading thoroughbred auction house.

Q.: How long have you been with the company and what roles have you filled

A.: I started with Inglis in 1986 and have been fortunate to learn from many excellent teachers over the last 23 years. Starting in the pedigree department you quickly learnt about the importance of up to date information in catalogues. The advent of computer technology has been a great advancement in the quality of catalogues now prepared for sales. I was fortunate to be in the right place at the right time when the late John Inglis and his brother Dick were winding back their auctioneering duties which allowed me the privilege of standing up and wielding the gavel under the figtree at Newmarket and the other sales rings we operate from. In recent years I have been lucky enough to serve on the board of Inglis and I enjoy the challenges that this role brings.

Q.: Do you find the constant demands on your time difficult with a young family

A.: I am extremely fortunate that my wife Alicia and children Joseph and Neve understand the nature of our business. While missing the odd birthday or children’s sporting event is always hard I know that studmasters and trainers face the same issue each time we put on a sale so it just goes with the job.

Q.: Do have any activities or hobbies outside the business

A.: Time spent away from the job is pretty much family focused. Aside from racing carnivals a group of mates get together each year for a golf weekend named The Von, after the legendary Norman von Nida. Cairns had better prepare for some re-turfing of their fairways this July.

Q.: What do you enjoy most about living in Sydney

A.: Sydney is a big city with all the benefits and problems that presents. We live at Kingsford which is only five minutes away from Newmarket and Randwick; 10 minutes to Coogee Beach; 12 minutes to the Sydney Cricket Ground; and 15 minutes to the airport. If things get too hectic I can always escape up to what my family call my second home in the Hunter Valley and look for the next champion racehorse.