Cocktails, canapés and million-pound horses set scene for Royal Ascot
FILE PHOTO: Horse Racing - Royal Ascot 2024 - Ascot Racecourse, Ascot, Britain - June 22, 2024 Khaadem ridden by Oisin Murphy in action on his way to winning the 15:45 Queen Elizabeth II Jubilee Stakes Action Images via Reuters/Andrew Couldridge/File Photo REUTERS
FILE PHOTO: Horse Racing - Royal Ascot 2024 - Ascot Racecourse, Ascot, Britain - June 22, 2024 Britain's King Charles during the Royal procession ahead of the races Action Images via Reuters/Andrew Boyers/File Photo REUTERS
FILE PHOTO: Horse Racing - Royal Ascot 2024 - Ascot Racecourse, Ascot, Britain - June 22, 2024 Britain's King Charles and Queen Camilla during the Royal procession ahead of the races Action Images via Reuters/Andrew Boyers/File Photo REUTERS
LONDON - In the gardens of a royal palace, Swiss billionaires, Qatari royals and the odd former footballer gathered on Monday night for a one-off chance to bag a racehorse ready to run at Royal Ascot the next day.
Over 7.5 million pounds ($10.2 million) changed hands as bidders vied to secure one of 28 thoroughbred horses, 18 of which are due to compete this week for a chance to win a portion of Royal Ascot's 10 million pound prize pot.
The Goffs London Sale, now in its 11th year, is an exclusive auction held in the grounds of Kensington Palace where anyone, providing they have a minimum 150,000 pound credit clearance, can bid for front-row access to one of the world's most prestigious sporting events.
"You could be standing in the grounds of Kensington Palace at six o'clock and by two o'clock the next day, you could be at the parade ring alongside the British Royal Family with your own runner and your own colours," Henry Beeby, chief executive at the 160-year-old Goffs auction house, told Reuters.
Top lot Ghostwriter, who holds an entry for the Group 2 Hardwicke Stakes at Royal Ascot on Saturday, went for 2 million pounds to football agent Kia Joorabchian of Amo Racing while the second most expensive horse, Woodshauna, sold for 625,000 pounds to John Stewart of Resolute Racing - two of the biggest buyers in the sport.
Joorabchian, who is known to be a big spender after dropping over 24 million pounds at a single sale last year, said his son had picked out the horse and that it had a good chance in the Hardwicke Stakes, a prestigious Group 2 race held at Royal Ascot.
Danish entrepreneur and hotelier John Christensen said he bought Super Soldier for 390,000 pounds so his friends would have something to cheer on at the races on Tuesday.
Last year's sale turned over almost 8.5 million pounds ($11.54 million) though Beeby conceded that was an exceptional year. Most years the London sale raises 3–6 million pounds, he said.
Horses bought at the sale have some history of success at Ascot, though this is by no means guaranteed. The last time a graduate of the London ring won at Royal Ascot was in 2021 when Oxted won the Group 1 King's Stand Stakes while others, like Givemethebeatboys, sold in 2023, have been well-placed.
JACKPOTS
The most expensive horse ever sold there was the French mare, Sparkling Plenty, who had won a Group 1 in Chantilly just days before. She was sold outside the ring in 2024 for 5 million pounds, beating the previous top price of 1.3 million pounds.
The sale acts as an unofficial curtain raiser for Royal Ascot where trainers and top horses from around the world will compete over five days in races worth up to a million pounds.
Highlights include the marathon two-and-a-half-mile Gold Cup on Thursday as well as numerous top-grade races featuring some of the world's best racehorses.
Horseracing may contribute 4.1 billion pounds to the British economy annually, but it's often a game of risk and chance. While jackpots, - like the 9,000-euro ($10,402) colt, Kodi Bear, who returned 500,000 euro when sold again around 9 months later - do happen, for most buyers, owning a racehorse is a luxury.
And it can go badly wrong. An American-bred horse, St James Square, was sold for $2.4 million in 2018 and never finished better than sixth in five starts.
"We're dealing in luxury items, nobody needs to have a racehorse," Beeby said.
Like all commodity markets, thoroughbred sales are not immune to global trade headwinds and tariffs.
And like many trading houses, Goffs is navigating trade tensions with the United States – Goffs' trade with the United States was around 10 million euro worth of horses last year --and the fallout from Brexit, which ended a tripartite agreement on the free trade of horses between Britain, France and Ireland.
"We are indelibly linked to the worldwide economy but by the same token, this is an extraordinarily resilient global business," he said. "We could do without [tariffs], we're hoping they're a distraction rather than a barrier." REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
an hour ago
- Straits Times
Pope ton continues England revival after India collapse
Cricket - International Test Match Series - First Test - England v India - Headingley Cricket Ground, Leeds, Britain - June 21, 2025 India's Rishabh Pant walks after losing his wicket by LBW, off the bowling of England's Josh Tongue Action Images via Reuters/Craig Brough REUTERS LEEDS, England - A superb unbeaten century from Ollie Pope helped drag England back into the first test against India at Headingley on Saturday, with the home side closing day two on 209-3, 262 runs behind the touring side. India were cruising late in the morning session on 430-3, only to be all out for 471, England taking the last seven wickets in an hour either side of lunch to give themselves hope of mounting a disappointing day one. In reply, in more difficult, overcast conditions, the highest-ranked test bowler in the world, Jasprit Bumrah, struck to remove England opener Zak Crawley for four before Ben Duckett and Pope steadied the ship to the delight of the home crowd. Bumrah broke their 122-run second-wicket partnership when he bowled Duckett for 62, before Joe Root became the Indian dangerman's next victim moments after Pope had reached his second successive test ton. Root was caught at slip for 28 and Harry Brook was very fortunate to survive in the final over of the day when he was caught at mid-wicket off a Bumrah no ball. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
2 hours ago
- Straits Times
Yastremska reaches Nottingham final despite grass allergy
Tennis - Nottingham Open - Nottingham Tennis Centre, Nottingham, Britain - June 20, 2025 Ukraine's Dayana Yastremska in action during her quarter final match against Canada's Leylah Fernandez Action Images via Reuters/Andrew Boyers REUTERS NOTTINGHAM - Dayana Yastremska says she has an allergy to grass but became the first Ukrainian player to reach a WTA Tour final on the surface for 17 years after a 6-4 6-4 defeat of Poland's Magda Linette at the Nottingham Open on Saturday. Yastremska will seek her first WTA title since 2019, when she faces American McCartney Kessler on Sunday. "I really love playing on grass, even though I think I have a bit of an allergy to grass," she said. "I'm very excited, and I was proud of myself. In general everything worked pretty well. I can't wait to play in the finals tomorrow. Finally I won't be playing at 11 am, which I've been doing all week, so I can sleep tomorrow a little bit more!" Kessler, who only recorded her first career grass court win last week, beat Rebecca Sramkova 6-4 6-2. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Straits Times
2 hours ago
- Straits Times
Dortmund hold off Sundowns to close on CWC knockouts
Soccer Football - FIFA Club World Cup - Group F - Mamelodi Sundowns v Borussia Dortmund - TQL Stadium, Cincinnati, Ohio, U.S. - June 21, 2025 Borussia Dortmund's Serhou Guirassy in action with Mamelodi Sundowns' Keanu Cupido IMAGN IMAGES via Reuters/Katie Stratman REUTERS CINCINNATI, Ohio - Borussia Dortmund held off a spirited comeback from South African champions Mamelodi Sundowns to secure a 4-3 victory on Saturday and move closer to the Club World Cup knockout stages. Dortmund were behind after 11 minutes at the TQL Stadium but rallied to win their second game in Group F and move top of the standings with four points, one more than Sundowns. Felix Nmecha, Serhou Guirassy and Jobe Bellingham scored for the Bundesliga club who also profited from an own goal. Lucas Ribeiro had given Sundowns the lead while Iqraam Rayners and Lebo Mothiba scored in the second half as they looked to rally from 4-1 down in a competitive game played in blazing hot conditions with a midday kickoff. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
