MIKE de Kock enjoyed wine and beverages with Gary Grant and Chris Haynes of the Equine Group (photo) after a successful Cape Premier Yearling Sale (Book 1) on the eve of the 2012 J&B Met.
For Book 2 of the Sale, payment terms have been extended to 60 days, free of interest for all buyers. The choice lots contained in Book 2 will be auctioned at Kenilworth Racecourse on 2-4 March.
“In order to make it easier for the spectrum of buyers that we anticipate from all parts of South Africa and Zimbabwe, we have decided to change the regular terms of 21 days due payment date, to 60 days as due date” said Robin Bruss of Cape Thoroughbred Sales.
“We recognise that this sale replaces the old Cape Summer Regional Sale & the Equimark Vintage Sale and as such is considered the value for money where champions are bought at affordable Prices. Traditionally the minimum bid is R20,000 with the average around R100,000 and the median between R60,000 & R80,000”. Our sale is sanctioned by the Thoroughbred Breeders Association of South Africa and has a large entry of 405 yearlings.
“The new payment terms will not affect the sales company’s policy to pay out Vendors at 30 days after fall of hammer. Interestingly past champions that have come from these sales include Pocket Power (R190,000), Victory Moon (R200,000) Mother Russia (R160,000) and Jay Peg (R140,000) to name but a few. “Cape Premier Yearling Sale Book 1 was a fantastic success with an average of R403,000 and yet the 405 horses in Book 2 represent those who only just missed the cut for Book 1.
“Interestingly, the selection panel ranked three quarters of the yearlings in Book 2 as physically equivalent as those in Book 1 and whereas Book 1 is a select sale appealing to an International buying bench, Book 2 is regarded as a truly South African Sale with a vastly lower average. “For this reason we recognise the need to support our customers from every racing jurisdiction including smaller centre like Kimberley & Zimbabwe” he added.
The easier payment terms are bound to assist Buyers by in making the yearlings more easily affordable and permitting them time to put together partnerships and syndicates.
“For those requireing a greater time period than 60 days, special arrangements can be made through our associates, Compass Finance, who have introduced the financing of Bloodstock not previously available. The Sale, to be held at Kenilworth racecourse will feature a comedy evening with Barry Hilton on the night before the sale commences and a biltong & braai sales party on Saturday evening the 3rd of March for all of racing’s family to socialise.”