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Octave: dispute over high bidder

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  • Octave: dispute over high bidder

    DRF 11-5-07 "Bid dispute overshadows $5.75M mare"

    How does this get so botched? There must be dozens upon dozens of people watching the bidding and hearing the call for final bids. You mean to tell me that two different parties thought they won high bid on Octave? Of course of all the bidders it would or could be, it just happens to be these two camps!

    If Jess Jackson had been in there bidding in the end he would've sued everyone right down the valet guy's in the parking lot

    Fasig-Tipton started Kentucky's November sales on Sunday with multimillion-dollar prices for Grade 1-winning mares and a dispute with Coolmore Stud over the $4 million sale of Octave to Sheikh Mohammed al-Maktoum's Darley organization.

    Ferguson, representing Maktoum, signed the ticket for $4 million after lively bidding that also involved Coolmore Stud and the Ranjan Stable of Bob Naify and Jan Vanderbos. But Coolmore's team, including principal John Magnier and regular bidding representative Demi O'Byrne, angrily protested the sale, saying they had believed they had made the winning $4 million bid.

    Fasig-Tipton called representatives from Coolmore and consignor Taylor Made, as well as Octave's selling owners, Jack and Laurie Wolf and Donald Lucarelli, into the sale office to discuss the issue. At one point, O'Byrne also called on Walnut Green consignor Russell Jones as a witness to the Coolmore bid.

    "Clearly, they bid the $4 million," Jones said later of Coolmore. "I can't say whether the bid-spotter recognized it. I think there was a serious communication problem.

    "I don't like to see an injustice done, and I think sometimes that's what mistakes are," he added. "They lead to an injustice."

    Ninety minutes after the hammer fell on Octave's sale, consignor Mark Taylor of Taylor Made confirmed that the sale to Maktoum was final.

    Fasig-Tipton president Walt Robertson said the company's bid-spotters had recognized Ferguson's $4 million and not acknowledged any bid from Coolmore for that amount. Because no bid-spotter had taken Coolmore's bid, Robertson said, the sale to Ferguson had been considered final, and the bidding could not be reopened.

  • #2
    hmmm...Well, I guess all I can say is, at least it wasn't $16million.

    Comment

    • Original Poster

      #3
      The two rivals knocked heads again Monday night - with 5-yr old broadmare Playful Act as the prize: A world record at $10.5 million; Dubai ruler outbids Coolmore Stud for Playful Act

      Keeneland auctioneer Cris Caldwell still had the presence to deliver another request of the shell-shocked crowd.

      "Please, everyone, hold your applause until the mare leaves the ring," he boomed.
      Playful Act's price tag shatters the previous mark of $9,151,884 that was established when Magical Romance sold at the 2006 Tattersalls December sale, and it makes her the fourth-highest-priced horse ever to sell at public auction.
      Image: Playful Act

      Comment


      • #4
        WHAT? I thought these two had agreed to stop bidding against each other and it Was the Beginning of the End?! Wasn't that the consensus going into the September sales? The big guns were taking a break from bidding each other up and it was going to be A Bloodbath and we should all run screaming for the hills? And, November was going to Even Worse - a total disaster and we were all going to loose our shirts?!

        Wait - no, I know! *bouncing up and down annoyingly* These mares were all sold ahead of time and Coolmore and Darley were just putting on a good show to make prices look stronger than they really are.



        (Above pps completely sarcastic)

        In all seriousness, nice to see these guys getting morale up. Hope it doesn't get too high - I was hoping for some bargains for moi next week.

        I think Maktoum's bid spotter messed up when his vision was impaired by those cartoon-like dollar signs in his eyes. But, yeah... normally it seems like when there are only two parties going back and forth the spotters from the other sections are also keeping an eye on the two bidders.

        Comment

        • Original Poster

          #5
          Herald-Leader 11-7 "Best mares hard to get at Keeneland"

          One of the "losers" in a heated bid was Satish Sanan (see Curlin sale) trying to buy the mare Island Sand. In the end it went to bloodstock agent Lincoln Collins for $4.2M.

          For Sanan, losing out on Island Sand was just the latest example of just how difficult it is to win at the top end of the market.

          "We bid on probably 10 yesterday and we got one," Sanan said. "It's tough. We'll have a few more swings and see what happens."

          Comment


          • #6
            I have a friend who is a vet and is now at the Keeneland sale for his clients... I'll ask him about this and see if I can't get some inside scoops!

            PS. not on topic but he also said he got to have a good look at Curlin recently and said he is absolutely gorgeous ...perfect...beautifully put together....sigh...

            Comment


            • #7
              Are Fasig-Tipton and Keeneland running directly against each other?
              "I'm a lumberjack, and I'm okay."
              Thread killer Extraordinaire

              Comment


              • #8
                Originally posted by vineyridge View Post
                Are Fasig-Tipton and Keeneland running directly against each other?
                Fasig-Tipton is always one day only, the Sunday before the Keeneland sale. Keeneland started Monday and runs through the 19th.

                Comment


                • #9
                  I think it's fantabulous that the Barnes & Noble guy is buying so many at so many different levels - from $50k to $4 million+!
                  It's a uterus, not a clown car. - Sayyedati

                  Comment

                  • Original Poster

                    #10
                    Originally posted by Slewdledo View Post
                    I think it's fantabulous that the Barnes & Noble guy is buying so many at so many different levels - from $50k to $4 million+!
                    Hence his 2005 Kentucky Derby runner being named Noble Causeway

                    Although that horse was at the end of the day a significant financial loss: purchased Sep 2003 at Keeneland's yearling sale for $1.5 million, he earned $360,010 in purse money (less training expenses, et al) and was retired in early October 2007. He'll stand for just $5,000 at Crestwood Farm in Lexington, KY.

                    You win some and lose a lot more in this business so it helps to have a large fortune

                    Comment


                    • #11
                      A bit off topic, but here seems as good as place to ask since we're talking pricey mares.

                      I'm loving watching the sale online, equine eye candy. But as I see mare after mare go through, many of them obviously upset and stressed, I can't help but wonder how many wind up aborting.

                      Any ideas?
                      Congratulate me! My CANTER cutie is an honor student at Goofball University!

                      Comment


                      • #12
                        Originally posted by Beezer View Post
                        I'm loving watching the sale online, equine eye candy. But as I see mare after mare go through, many of them obviously upset and stressed, I can't help but wonder how many wind up aborting.

                        Any ideas?
                        Very few. Most of the mares are on a 2wk course of Regumate for the sale, which also helps. Plus, the horses generally only start getting really nervous in the sales ring itself - when they are by themselves. You don't see too many mares freak out in the walking rings.

                        Comment


                        • #13
                          Originally posted by Beezer View Post
                          A bit off topic, but here seems as good as place to ask since we're talking pricey mares.

                          I'm loving watching the sale online, equine eye candy. But as I see mare after mare go through, many of them obviously upset and stressed, I can't help but wonder how many wind up aborting.

                          Any ideas?
                          Ditto what SleepyFox said. Most times things are quite calm back at the barns and in the walking rings. It's that 90 seconds inside the pavillion--the lights, the noise, and the being alone--that upsets them. Most of the mares calm right back down as soon as they walk out the door.
                          www.laurienberenson.com

                          Comment


                          • #14
                            What's sad are the mixed sales in January and February, when you have mares foaling AT the sale. I can't imagine a worse environment to have a baby, or why an owner would put a due mare through that.
                            It's a uterus, not a clown car. - Sayyedati

                            Comment


                            • #15
                              Originally posted by Slewdledo View Post
                              What's sad are the mixed sales in January and February, when you have mares foaling AT the sale. I can't imagine a worse environment to have a baby, or why an owner would put a due mare through that.
                              What's even worse is that there are owners who do that on purpose--figuring that the "awww factor" of having a foal in the ring will bring a higher price than the mare would do on her own. And since buyers like to be able to see what they're getting (mare and foal) it usually works.
                              www.laurienberenson.com

                              Comment


                              • #16
                                Originally posted by InVA View Post
                                I have a friend who is a vet and is now at the Keeneland sale for his clients... I'll ask him about this and see if I can't get some inside scoops!

                                PS. not on topic but he also said he got to have a good look at Curlin recently and said he is absolutely gorgeous ...perfect...beautifully put together....sigh...
                                I saw Curlin at summer and then in NY and NJ this fall. Your friend the vet is spot on. That horse is stunning!
                                F O.B
                                Resident racing historian ~~~ Re-riders Clique
                                Founder of the Mighty Thoroughbred Clique

                                Comment

                                • Original Poster

                                  #17
                                  Obviously not a shock but when you pay $4M for a mare, she is going to be retired to broadmare duty which is the case now with Octave

                                  ...has been retired to become a broodmare for Sheikh Mohammed's Darley in Central Kentucky.

                                  Comment


                                  • #18
                                    Originally posted by Glimmerglass View Post
                                    Obviously not a shock but when you pay $4M for a mare, she is going to be retired to broadmare duty which is the case now with Octave
                                    Crap. I like Octave and when she was sold at auction, the guy (Ferguson) said he thought she would keep racing.

                                    The shiekhs are some of the worst about retiring them young.

                                    Comment

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