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The newly elected board member of the Thoroughbred Breeders Victoria and Spendthrift Australia’s Garry Cuddy chats with The Impact about their mare purchases, their general buying trends and things how the market has changed since his time with Vin Cox at Magic Millions.
Q: You purchased two high-value lots - 1: Baccarat Baby (Casino Prince (AUS: X Meerlust (AUS:: for A$600,000 and 2: Shadwell's Madeenaty (Exceed and Excel (AUS: X Set for Fame (AUS:: for A$800,000. Could you tell us more about what made their pedigree and physicals so specials you crossed the A$500,000 million mark?
A: Baccarat Baby was a very good racemare in her own right, however, we felt that a significant pedigree update was around the corner through her half-sister Duais. We had a bit of luck as Duais won the G1 Qld Oaks. Madeenaty was a very smart 2yo and is out of Set for Fame who was a wonderful racemare for Peter Moody, so it was a combination of pedigree and performance with her also.
Q: Spendthrift purchased A$2,390,000 for 6 mares at the Inglis Chairman's and Magic Millions National Broodmare Sale? Is this a typical annual spend for Spendthrift or did you feel the market was polarising and therefore you went over what you would typically spend? If yes, do you feel the trend will ride out over the next couple of years? If not, why not?
A: Each year we have a budget, some years bigger than the previous. We understand the value in buying well-performed mares to bolster our broodmare band, which then gives our stallions the best opportunity for success. I hope that our budget continues to grow each year because this is a sign of our team doing a good job and our brand having success in Australia.
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Q: Do you feel that recently, in a new trend, raced mares with some popularities are more in-demand as mares and thereby securing much higher prices than unraced mares? If yes, as you are closer to the ground, why do you feel that is? If not, why not?
A: From my first job with Vin Cox, starting back in 2006, we focused on buying mares that had performed on the racetrack. This trend has been around for some time based on that, but I do feel that it has gone to another level in recent times.
Q: Have you completed your Broodmare purchases for the season. If not, which sales are you pointed at, especially considering the uncertainties around the Southern Broodmare and Weanling Sales?
A: At this stage I would say that we are done with our purchasing, but you never know what mare is the next to come across your desk that deserves consideration.