Magus’ Leung excited by sales return as influx of internationals arrive in Sydney
Hong Kong and Singapore buyers make most of open borders ahead of Inglis Ready2Race Sale
Hong Kong agent Willie Leung is relieved to be inspecting horses in the flesh for the first time in almost three years.
The Magus Equine principal, the buyer of champion Hong Kong sprinter Mr Stunning (Exceed And Excel) among other top horses to display their talent at Sha Tin and Happy Valley, is among a throng of agents, trainers and buyers in Sydney this week for the Inglis Ready2Race Sale.
The Riverside Stables complex had a welcome influx of internationals, with more due to arrive today, as Leung made the most of the relaxing of Hong Kong’s stringent quarantine protocols in recent weeks, allowing him to attend an Australasian thoroughbred sale for the first time since early 2020.
Trainer Jimmy Ting has also made the trip from Hong Kong alongside Leung while fellow Sha Tin trainers Caspar Fownes, Benno Yung and Ricky Yiu are also in attendance, as are a host of Singaporean racing participants, such as trainers Stephen Gray, Ricardo Le Grange, Tim Fitzsimmons, Donna Logan and Shane Baertschiger.
Expatriate New Zealander Jamie Richards, who had his first Hong Kong runner last Wednesday, is also slated to be at the Inglis sale, as is the jurisdiction’s reigning champion trainer Frankie Lor.
The 2020 Inglis Premier Yearling Sale was the last time Leung attended a horse sale in person and he was delighted to be inspecting the 289-lot Ready2Race Sale catalogue at Riverside Stables yesterday.
In the almost three years since that Melbourne sale, when the impact of Covid-19 became apparent and much of the world became practically off limits, particularly from Hong Kong, Leung has been working the thoroughbred sales circuit in a virtual fashion.
“It has been a long time (since I’ve been here) at a sale in person, so it’s great that I can come and see the horses fresh,” Leung told ANZ Bloodstock News yesterday.
“To be honest, it is a totally different approach when you see horses on the screen compared to being on the complex.
“You can see more of how they walk, assess their attitude and you can touch them, so you can learn a bit more about them by attending a sale.”
Leung has been able to maintain an adequate volume of horses for his clients, buying upwards of 15 horses a year, but he has had to rely on trusted confidants on the ground to enable him to maintain his bloodstock business, but being able to see the horses for himself will also assist in his wish to bring some “fresh blood” into Hong Kong.
“I am lucky that I’ve had some good friends [in Australia] and they’ve helped me undertake the inspections on my behalf,” he said.
“I trust their knowledge and I respect their opinion as well.”
As much as the yearling sales, in Australia in particular, have skyrocketed in value – the increased spend in part credited to the pandemic – since Leung was last in the country, he said the rising cost of tried horses had also forced Asian buyers seeking stock for Hong Kong, and to a lesser extent Singapore, to look to the yearling and breeze-up market to satisfy demand.
“The prize-money here (Australia) is really good, very competitive, and not many owners are willing to sell,” he said.
“The strong currency has made it difficult as well but in the past two months the strong US dollar has helped Hong Kong people spend a little bit more in Australia and hopefully that will help us be more competitive in (tomorrow’s) sale.
“Quite a number of Hong Kong owners have given up their PP (private purchase) permit and when they reapply they have to get PPG (private purchase griffin permit) and race those horses and they are easier to find in the market.
“The raced horses who are qualified (to go to Hong Kong) are way too expensive. That is one of the reasons why we like to buy at the two-year-old sales.”
Leung, who arrived in Sydney on Saturday, has been impressed by the quality of the two-year-olds he’s inspected and he predicts he will face competition for the best-credentialled juveniles who will go under the hammer from 10am (Australian Eastern Daylight-Saving Time) tomorrow.
“Quality wise, it is even better than last year’s catalogue. It seems to be improving all the time, [vendors are] buying quality yearlings to put back into the breeze-up sales,” he said.
“I think it will be strong as usual because when you have a quality horse, they always bring money.”
Leung will return to Hong Kong after the Inglis sale before making another international trip in a fortnight for the Magic Millions 2YOs In Training Sale on the Gold Coast on October 25 and he also intends to be at the New Zealand Bloodstock Ready to Run Sale at Karaka next month.