Mare Hanky Panky sells for 2.7 million pounds at Tattersalls breeding sale
Peter Treadgold, partner at Smith & Williamson, also says the Chinese are increasingly investing in horses, trying to establish the bloodstock business in their country.
What is the highest price you’ve seen a horse be sold for?
Today is the last day of the major breeding mare sale at Tattersalls, which saw the highest price of 2.7 million guineas (approximately 2.8 million pounds) paid for a mare called Hanky Panky. She was bought by Sheikh Mohammed of Dubai, one of the biggest horse buyers. However, clients must remember that breeding is not foolproof, and you never know whether you are going to get a champion or a loser.
Who are the big horse buyers?
They come from Dubai, Qatar, USA, Ireland and increasingly from China. The Chinese have even their own China Horse Club, as they try to establish the bloodstock business in China.
Is bloodstock a wise investment for UHNWIs?
Just like in football, it’s hard to be an owner and make money from horses, but the majority of clients invest for passion. The most important thing is to get a good horse expert. For every champion, there are a couple hundred horses that are not good at all. That’s the fascination of the investment – you never know what horse you are going to get. One great example of it is Golden Horn, who won seven of his nine races and was never beaten by a male horse.
What trends do you see in the industry?
One of the issues is that horse population often doesn’t match the number of buyers. The argument at the moment is that there are too many horses, but that can quickly change. It’s hard to predict what the market will look like in four or five years. So my advice is: trust to luck and breed them as well as you can.