Cover image courtesy of The Image Is Everything
Introducing The Thoroughbred Report’s new segment, ‘Buy of the Weekend’ where we will profile a breeder or buyer whose astute judgement was proven over the weekend.
In our inaugural ‘Buy of the Weekend’, TTR AusNZ has selected Chrysaor (Better Than Ready), a $1 million earner and winner of the Listed Vale Black Caviar S. (Tontonan S.) on Saturday at Flemington.
The striking 4-year-old gelding, racing in Denise Martin’s Star Thoroughbred purple and white stars silks, was initially pinhooked by Bevan Smith Bloodstock and Lionrock Bloodstock for $60,000 from Yarramalong Park’s draft at the 2021 Magic Millions National Weanling Sale.
TTR AusNZ spoke with Bevan Smith to learn what attracted him to the colt and to understand the pinhooking process.
Bevan Smith | Image courtesy of Magic Millions
There was a frame there
Bred by Yarramalong, Chrysaor is the fifth foal from the Choisir mare New Wings, a full sister to Religify, who won 13 races, including the Listed Wayne Wilson Plate and was a placegetter in the G2 Crystal Mile.
Yarramalong presented the son of Lyndhurst Stud Farm’s Better Than Ready at the 2021 Magic Millions National Weanling Sale, where he caught the eye of Bevan Smith and Lionrock Bloodstock.
Smith explained, “I wouldn’t have called him an immature weanling. He had plenty of size about him but needed to strengthen up a bit, which we were confident he would do.
Chrysaor as a weanling | Image courtesy of Magic Millions
“He also had that speedy Queensland pedigree, which was appealing as we were targeting horses for the Magic Millions in January. Plus, he was QTIS nominated, adding to his appeal.”
Although he wasn’t the finished article as a weanling, Smith saw potential and was willing to take a gamble at $60,000, believing Chrysaor would develop into an attractive yearling prospect. “I saw a frame there. He was an athletic horse who was going to fill out into that frame, and he was always very proportionate.
“Everything was in the right place, and I felt there was plenty of improvement in him.”
“Everything was in the right place, and I felt there was plenty of improvement in him (Chrysaor).” - Bevan Smith
The goal is to find a racehorse
While making a profit on a pinhook is important and helps keep one in the game, the primary goal is to identify a racehorse that can perform well on the track.
“The main purpose of buying horses, whether they are weanlings, yearlings, or 2-year-olds, is to find athletes with the potential to become good racehorses. That’s what I saw in Chrysaor, based on the way he was put together,” Smith explained.
“The main purpose of buying horses, whether they are weanlings, yearlings, or 2-year-olds, is to find athletes with the potential to become good racehorses.” - Bevan Smith
“You’re looking for physical attributes that generally equate to making a successful runner. At the end of the day, everything is based on finding fast horses.”
Ben Kwok, who operates Lionrock Bloodstock, had previously achieved success with Smith. The two had identified the G1 Manawatu Sires’ Produce S. winner On The Bubbles (Brazen Beau) at the 2019 Inglis Great Southern Sale, with Kwok purchasing the son of Brazen Beau for $60,000 from Burnewang North Pastoral’s draft.
On The Bubbles was later re-sold for NZ$90,000 to David Ellis CNZM (BAFNZ) from Leanach Lodge’s draft at the 2020 New Zealand Bloodstock National Yearling Sale.
On The Bubbles | Image courtesy of Race Images
Smith added, “I look for horses where I can see physical improvement. I’ve worked with some excellent farms, like Bell River Thoroughbreds, who did an exceptional job preparing Chrysaor for the yearling sale.”
Chrysaor was sent to Bell River Thoroughbreds, operated by the Ferguson family, to be sold at the 2022 Magic Millions Gold Coast Yearling Sale. Smith was delighted when the son of Better Than Ready was purchased by Star Thoroughbreds and Randwick Bloodstock Agency (FBAA) for $115,000.
“I knew that sending a horse to Bell River Thoroughbreds would result in a well-prepared horse. They have a great farm and excellent systems to prepare horses for the yearling sales,” Smith said.
Chrysaor as a yearling | Image courtesy of Magic Millions
“So, knowing that is where the horse was going, I could buy a horse that might need to put on a bit of weight and strengthen, confident that would happen under their care.”
“Fundamentally, we’re all trying to buy racehorses, whether they’re pinhooks or not. From a yearling to a 2-year-old sale perspective, you need to find a horse that you think can run early, focusing on the horse’s action during the breeze-ups.”
Timing a little off
Better Than Ready, a son of More Than Ready (USA), has sired 12 stakes winners, including the R. Listed Magic Millions 2YO Classic winner Skirt The Law and the G1 Kingsford-Smith Cup victor Apache Chase.
Selecting a horse by the ‘right’ stallion is crucial in the pinhooking process, as is considering the female side of the family and any potential improvements by the time of the intended sale. “You’re trying to find a trend in the market and predict what’s going to happen on the female side of the pedigree or with a stallion gaining prominence,” Smith explained.
Better Than Ready | Standing at Lyndhurst Stud Farm
“Chrysaor’s sire, Better Than Ready, probably hit his stride after we sold him. We were likely 12 months too early. The following year (2023), they sold exceptionally well, up to half-a-million at the Gold Coast.”
The following year, Chrysaor’s full brother Remlap Kava was sold for $300,000 to Vandyke Bloodstock at the Magic Millions Gold Coast Yearling Sale. Meanwhile, his full sister, now named Neweva, was passed in for $200,000 at this year’s Magic Millions Gold Coast Yearling Sale.
Smith added, “Chrysaor’s brother made a significant amount of money the following year, partly because Better Than Ready advanced to the next level, and Skirt The Law won the Magic Millions 2YO Classic.”
Gallery: Chrysaor's full siblings, images courtesy of Magic Millions
“So, we were probably 12 months too early on the stallion. But this horse was not your typical Better Than Ready. He was a bit bigger and more robust than most.”
Although the profit margin on Chrysaor was modest ($55,000 to be exact), he still made a pinhooking profit. Ultimately, Smith’s judgement on the son of Better Than Ready being a good racehorse was proven correct.
Prior to Saturday’s Listed Vale Black Caviar S. victory, Chrysaor had won the G2 Callander-Presnell S. and had placed in the G2 Sires’ Produce S. and the G3 Vo Rogue Plate.
“He’s won over a million dollars in stakes money, which is great for Star Thoroughbreds and his trainer Chris Waller and his team. Chrysaor has been a fantastic return on investment for his owners.
“We made a bit of money out of him. Not a huge amount, but it’s still a great advertisement for my business, especially because pinhooking is a significant part of it.
“We made a bit of money out of him (Chrysaor). Not a huge amount, but it’s still a great advertisement for my business, especially because pinhooking is a significant part of it.” - Bevan Smith
“I do this for a number of clients and am involved in the weanling, yearling, and 2-year-old markets. Being able to purchase horses, resell them, and see them perform well on the racetrack is fantastic.
“People can see that I’ve bought the horse, re-sold it, and it’s a genuine sale, with the added bonus of the horse performing on the track.”
Warmonger's return also excites Smith
Smith had plenty to celebrate over the weekend. Alongside Chrysaor’s Listed victory, another of Smith’s pinhooks made a promising return to racing - Warmonger (NZ) (War Decree {USA}).
Warmonger (NZ) | Image courtesy of The Image Is Everything
The 4-year-old, trained by Mick Price and Michael Kent, resumed in the G1 Makybe Diva S. with an encouraging fourth-place finish behind Champions Mr Brightside (NZ) (Bullbars) and Pride Of Jenni (Pride Of Dubai). Warmonger had previously won the G1 Queensland Derby by 10l.
The son of Inglewood Stud’s War Decree (USA) was initially purchased for NZ$75,000 by Kelly Van Dyk’s Prima Park and Smith from the draft of Valachi Downs at the 2022 New Zealand Bloodstock National Yearling Sale. He was later re-offered by Prima Park at the 2022 New Zealand Bloodstock Ready To Run Sale, where SJ Kennedy secured him for NZ$165,000.
Smith also had success with Sunlight Power (Capitalist) in Hong Kong. Purchased for $150,000 by Smith and McKeever Bloodstock from the draft of Lime Country Thoroughbreds at the 2021 Inglis Australian Easter Yearling Sale, Sunlight Power was re-offered by Kilgravin Lodge at the 2021 New Zealand Bloodstock Ready to Run Sale, where Ricky Yiu and Dean Hawthorne bought him for NZ$320,000.
Smith told The Thoroughbred Report, “Warmonger is such an exciting horse. His return run in the Makybe Diva on Saturday was enormous, and the markets for the Caulfield Cup reflected that, as he immediately came into second favouritism.
“He’s got an exciting spring ahead, and he’s just a thrilling horse. We’ve always thought highly of him. He was a beautiful yearling and showed us a lovely action in his breeze-up. We were confident he’d turn into a good racehorse.
“At the time, his sire was a bit unfashionable, but War Decree is really coming into his own now. That’s the essence of pinhooking—buying athletes that might not initially have all the commercial appeal due to their sires and pedigrees, but with an educated guess, they can develop into appealing athletes based on type.
“That’s the essence of pinhooking—buying athletes that might not initially have all the commercial appeal due to their sires and pedigrees, but with an educated guess, they can develop into appealing athletes based on type.” - Bevan Smith
“So, it was a fantastic weekend for my pinhook purchases. It’s very satisfying to see these results, especially with the 2-year-old sales approaching.”
