Wholesale v Retail – Why Buying Weanlings To Grow Out to Race Makes Sense

With the Easter yearling sale bringing a conclusion to the ‘main’ yearling sale season in Aus/NZ, and the first of the weanling sales' commencing in early May, I have crunched the numbers (every which way) from 300 actualised weanling-yearlings pinhooks from this last yearly cycle.
i.e. 300 foals that were pinhooked from 2024 and re-traded into the 2025 yearling sales.

NB. The use of the word ‘actualised’ means I have not included those weanling pinhooks that were either not entered for a yearling sale and/or were passed in and (at least on face value) did not sell.

A fair amount of the research is paralysis by analysis but one striking finding, as it relates to this email is the price differential between weanling cost vs yearling cost.

Of the 300 weanlings pinhooked:
Median weanling purchase (in 2024) was $55,000
Median yearling purchase (in 2025) of these same weanlings was $110,000.

NB. These figures are not (conveniently) rounded numbers – I can provide the hard data to anyone who wishes to review.

So, all things being equal, you are essentially paying double for the same horse by buying the horse (approximately) nine months +/- later.

Of course, there is a cost to keep any horse once it is purchased but as you would not be preparing the horse for re-sale as a yearling and the higher costs that go with this, there is certainly a case to be made, purely from a dollars and cents angle, by buying a weanling to grow out to race as opposed to buying that same horse as a yearling.

Other points to note, in no particular order:

· My own personal belief is that it can be easier to identify racing talent as a foal than it is as a yearling
Big call? Maybe…. maybe not. Regardless, it’s what I honestly believe.
I’ve found that in the majority of cases that horses will tend to revert back to the shape they were as a foal/weanling.
Yearlings – can often be out of shape teenagers going through a growth spurt during yearling sale season.

· I’ve noticed a number of trainers having tremendous success buying weaning’s specifically to grow out to race, and over the last few years I’ve seen more end users entering the market – or at least the smart ones.

· Sure, having your own farm (or a very good friend that looks after you!) helps to maximise the savings and you must know how to feed young stock.

· When buying a weanling you perhaps don’t have to be a slave to fashion as much – provided the genetics are aok (if you are into that kind of thing) you can aim to buy a type usually for exceedingly good value.

· X-ray ‘issues’ and/or perceived conformational flaws that may not rectify in time for the yearling sales but can often improve naturally in time without the protein push (of a yearling prep).
I don’t have any hard data to actually back this up but my feeling is the more gradual growth and feeding programs somehow prolongs their durability and racetrack career – they are not pushed into an un-natural spike in nutrition.
Think Godolphin – some of their high end horses race well into their ‘elder statesman’ years e.g. Cascadian. And some of my more successful weanling purchases such as Cisco Bay and Bugalugs have raced on passed 8 years of age.

Some of the success stories I have purchased as weanlings:

Cisco Bay (photos below)
Weanling cost $22,000
Race record: 59-9:9:10 $1,057,355. Raced until 8 years of age.
Multiple stakes placed; multiple metro winner

Bugalugs
Weanling cost $6,000
Race record: 73-13:11:8 $356,708. Raced until 9 years of age.
Multiple metro winner

Miss Redoble
Weanling cost $5,000
Race record: 52-8:6:3 $388,355. Raced until 6 years of age.
Multiple metro winner

Miss Tycoon Rose (photos above)
Weanling cost $32,500
Race record: 59-9:9:10 $1,057,355. Raced until 8 years of age
Group 1 2nd, Multiple Group placed; Multiple metro winner (NZ)

Gallant Valour
Weanling cost $30,000
Race record: 21-4:2:7 $ HKD $4,783,650 / AUD $940,898.
Multiple metro winner (HK)

I will be attending all four weanling sales and inspecting every weanling available for sale.
I welcome enquiries to represent and act on your behalf at any/all of these sales.

Dates:
Inglis Sydney May 5-6
Magic Millions May 25
Inglis Great Southern June 12-13
NZB Karaka June 26