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Fulton's High Praise For Argentine Yearling Sales
Also in South America, bloodstock agent John Fulton told Thoroughbred Daily News that Argentina's bloodstock industry "is thriving" & the reason "is all in the numbers", after buying 2 of the 3 top lots at last week's 5-day Copa Bullrich Yearling Sale at San Isidro racetrack in Buenos Aires. Fulton paid a new sale record of 640,000 pesos (US$162,000) for a colt by top US sire Tiznow (out of stakes-placed Seeking The Gold mare Penny Hole) & US$129,000 for a Distorted Humor-Indy Verse colt. He summed up: "We're able to breed here for a fraction of what it costs in the US. The stud fees here are 20-25% of what they would be in the US. Then you are able to raise a horse on the best farms for US$350 a month. A breeder has a chance to raise a horse & get him to the sale & make a profit." Fulton noted that profitability "trickles down to buyers. The end-user is getting in at a level where he's got a chance to make money, so it works all the way through. Once you get them to the racetrack, you pay about US$1,000 a month to the trainer, the vet & the blacksmith. And the purses are good enough that, if you win a 2YO maiden race, you've nearly paid for a year's training. . . . . If you want to race in the good markets in the US, by the time you get done paying the trainer his day rate & the veterinarian & the blacksmith & shipping, it's US$4,000 or US$5,000 a month." Fulton also noted that if your runner is successful in Argentina, the rewards can get even greater. You have people from other countries - from the US, from Australia, from South Africa, from Dubai & Saudi Arabia - who want to buy the proven horses. So if you happen to come up with a good horse, you've got a chance to sell at a pretty attractive number. It's a system that is in stark contrast to the struggling industry in the US, where it seems fewer & fewer people on either end of the equation are making a profit." Fulton emphasised: "Your entry level as an end-user (in Argentins) has got to be a third of what it would in the US. I've bought Distorted Humors & Tiznows in this sale that I know would have sold for 3 times as much in the US. You can go to a sale here & buy both pedigree & conformation & not be paying crazy numbers. In the States, even in today's market, if you see a yearling that has got tremendous conformation, you're going to pay a lot of money. If he's got tremendous breeding, you're going to pay a lot of money. If he has both, then it's either Coolmore or Sheikh Mohammed. Here, you can buy both reasonably. This Tiznow colt that I just bought, he's absolutely spectacular. I've had people here from the US who looked at him & said he would be a US$400-500,000 yearling in the States & I paid US$162,000 for him. So you can get in at the top of the market at a reasonable number & have a chance to prove your horse very inexpensively."