Now the dust has settled, some interesting observations of buying patterns of major players compared with Dynamic Syndications, have emerged.
As we have stated previously, we are meticulous at identifying potential purchases that have the genetic balance to succeed, as much as the conformation and athleticism.
We always trust our own judgement however we still employ the skills of leading independent thoroughbred advisor Gary Mudgway and the skills of industry renowned veterinarian Dr John Walker, ensuring maximum due diligence in yearling selection.
As a team, we inspected 221 yearlings in a culling process that reduced that number over several stages, to a final list of 51 sets of x-rays to be read, with just 1 yearling being removed at that point.
Therefore we had qualified 50 yearling candidates that we could considered, as potential purchases.
The Dynamic Team bid on all 50 yearlings over the 5 selling days, purchasing 9 lots (18%) for a total spend of $680,000 at an average of $75,555.
However, the frustrating aspect was how on another 8 occasions, we were the direct under bidder on horses from our list. That's the joy of the auction process !
Incredibly to us was, what we could actually map out.
The 50 yearlings on our list were ALL SOLD in the ring - None were passed-in.
Interestingly, the Gai Waterhouse Team purchased 54 yearlings in total of which, 14 corresponded with our list. This almost represents 1 in 3 of Team Waterhouses combined purchases.
More interesting was the Waller Team purchased 29 yearlings between them but only 1 from this same list. So what does that say about both camps in this selection process ?
Gerald Ryan also purchased 3 from the same list, and he too was an under bidder several times to Team Waterhouse.
So obviously, Waterhouse and Ryan both have identified similar breeding patterns and have a similar eye for a horse. Our only disadvantage is the budget ceilings, we must put on yearlings to ensure ASIC compliance.
Incredibly, the biggest shock was that apart from the Waterhouse and Dynamic camps who between us took home 23 of the 50 lots, just 1 yearling off the remaining list of 27 found its way to another syndication company.
Our list of 50 yearlings grossed a total spend of $9,465,000 with an average price of $189,300.
However Dynamic Syndications who purchased 9 from this list, only spent an average $75,555. That calculates out that we spent just 40% of the list average.
It's both complimentary and frustrating that we battle against the Team Waterhouse juggernaut but we wish the Gai team and Ryan team the best of luck with their purchases.
So why is Team Waterhouse, Team Ryan and Team Dynamic so similar ? We can't speak for Team Waterhouse nor Team Ryan however they have obviously identified similar factors in their selection process, that is compatible with our own.
Our only regret in this area is that Gai takes no prisoners in an auction battle. So if she is competing against us, we have little hope of beating her. That obviously lends itself as to factor why she is so successful.
Simply we too have Gai's champagne tastes but due to ASIC Restrictions as a licenced syndicator, we only have a beer budget. However this ensures what we do buy, gives our owners, the best opportunities at realistic and affordable prices.
We will leave others to contemplate their navels.