"He's the bravest of the brave," was how Philipp Stauffenberg was described after bidding €650,000 (US$749,245, €1=US$1.15) for the New Bay filly (Lot 644) out of budding blue hen Livia's Dream midway through the headline session of the Goffs November Foal Sale Nov. 19.
Ed Sackville, who was taking instructions on the phone, provided the sternest resistance, but the high-rolling German pinhooker ultimately proved more determined to secure Mount Coote Stud's youngster.
The price means the filly, a half sister to Dreamloper and Santorini Star, is Stauffenberg's biggest pinhook gamble to date. However, he cut a remarkably relaxed figure as he explained the thought process behind the punchy outlay.
"Obviously the plan is to come back next year," Stauffenberg said while smoking a celebratory cigarillo. "If you look into it, there are very few foals of that quality, it's a high-end page. Obviously it's a lot of money but on the other hand, if you look at what these residual value pedigrees are making, I think it's fine. It puts us in good shape, hopefully. We will see.
"That's the first New Bay I've had, so hopefully the stallion is doing something positive next year. He should."
At one point during the bidding it looked as if Stauffenberg had checked out of the running, only to reenter the fray having retreated to the back of the auditorium and picked up his phone.
"I was over my budget but just needed reassurance that one of my partners was really willing to step up," he said. "At the end, I carry the whole risk so I have to have back up that I'm safe. I thought that she should be between three and five (hundred thousand). It depends on the opposition, but I wasn't really thinking that I'd have to give more than six."
Stauffenberg added that he was prepared to play the long game in a bid to enhance the filly's market value, with her pedigree offering a deal of security regardless of her talent on the track.
"The big pinhooks last year got punished quite a lot, so it's a big risk, but she's a nice, racy filly," he said. "Even if she fails to sell next year, I think you'd be happy to race her. That could even increase the value more. It's a family that's done well, especially with fillies.
"There is a risk, and if she was a colt then I wouldn't have done that, but with a filly like her, I think it's easier to take the risk. With the page, I'm happy that I got her. Obviously you'd always like to pay less but that's what the market required and that's what I was willing to pay."
Given the giddy highs experienced on this day last year, the figures do little justice to how vibrant Wednesday's market was, even if a clearance rate of 91% speaks to the strength in depth on show.
The 169 foals sold brought turnover of €18,359,000 (US$21,162,137), which was almost identical to 12 months ago. The average price dipped by 5% at €108,635 (US$124,911), and the median was down 3% at €78,000 (US$89,909). The fourth and final session of the foal sale is Nov. 20.
