How have the first season sires been received in the ring?

Cover image courtesy of Coolmore

Across the nine yearling sales in Australia and New Zealand, there were 4114 yearlings sold at an average price of $149,000. There is quite a spread between the different sales with each fitting into a different sector of the market.

Table: 2025 yearling sales across Australia and New Zealand

Progeny of first season sires made up 17 per cent of sales with 687 yearlings sold. The progeny of first season sires had a slightly lower average than across all yearlings sold achieving an average price of $147,800. Note that yearling sale prices don’t include GST, so GST has also been removed from any service fees mentioned.

Table: The market share which first season sired yearlings held in 2025 in Australia and New Zealand

With 26 first season sires with progeny offered at the sales, the top five stallions who achieved the highest average across all nine sales was led by Home Affairs who made headlines with three seven-figure yearlings.

Table: Top five first season sires by average across nine sales

Home Affairs solid across the board

If there is a correlation between yearling price and racetrack results, punters should be putting their money on Home Affairs for leading first season sire of 2-year-olds in 2025/26. Home Affairs sired the sale topper at both the Magic Millions Gold Coast Yearling Sale and the Inglis Australian Easter Yearling Sale, a feat never before achieved by a first season sire. Home Affairs had almost all his first crop head to a yearling sale with 135 of his 141 live foals catalogued somewhere. He made 102 sales for an average over $309,000, off a $100,000 service fee.

“The response to him from the buying bench was fantastic, and rightly so. He was the elite 3-year-old colt of his year, winning the Coolmore easily and beating Nature Strip in the Lightning at weight for age. Breeders flocked to him with good mares, and they were reward in the sale ring,” said Coolmore’s Colm Santry.

“They’ve all gone into leading stables, and on the strength of his sales success, we think breeders will return in droves.”

It is exceedingly rare for a first season sire to sell a seven-figure yearling in this neck of the woods. In fact, Ole Kirk and Farnan were the first stallions to achieve this feat in Australia last year. To do this and also grab the top lot at a sale, speaks volumes to the quality of mares that Home Affairs was sent. His filly from Champion racemare Sunlight (Zoustar), who is already a stakes producer, sold to Japan’s Mitsu Nakauchida for $3.2 million at Magic Millions Gold Coast, and at the same sale, the filly from Champagne Cuddles (Not A Single Doubt) was purchased by Gai Waterhouse and Adrian Bott in partnership with Kestrel Bloodstock for $1.05 million. At Inglis Easter, the Home Affairs colt from dual Group 1 winner Shout The Bar (Not A Single Doubt) topped the sale at $3 million, again to Waterhouse and Bott.

Gallery: Home Affairs sired yearlings that sold for seven figures

Coolmore’s other pair provide good value

St Mark’s Basilica (Fr) was a brilliant racehorse, and a Group 1 winner at two and three. His 55 sales averaged a very impressive $181,000 off a $40,000 fee to come in at fourth on the overall list. “As the sales season progressed, his yearlings were in more demand based on what we were hearing in Europe. He did particularly well at Easter as the word is very good all over Europe on his first 2-year-olds there,” said Santry.

“The response to his stock continues to grow in confidence and the indications are that he’ll cover a very good book of mares in 2025.”

Coolmore also debuted Acrobat, who won his only start in the Listed Inglis Nursery, and he achieved a yearling average of $72,000 over his 33 yearlings sold off a $12,500 fee in his first season. He sits at 11th on the list by average. “His yearling average was high pro rata to his service fee and he’s played well with the big boys off a much lower base. He looks like an exciting horse going forward as he’s been very popular since he retired. We look forward to seeing his pre-Christmas 2-year-olds, and if they can run like he did when he broke the Randwick track record in December.”

Stay Inside is a great bet for next season

Being a G1 Golden Slipper winner is almost a guarantee of stud success, at least judging by the past, and buyers were keen for the progeny of Stay Inside with 66 yearlings purchased at an average of $244,000. He stood his first season at $70,000.

“They were beautiful yearlings, very good moving horses who have gone into all the right stables,” said Newgate Farm’s Henry Field.

The farm also debuted Group 1 winner Wild Ruler whose 60 yearlings sold averaged $101,000 off a $35,000 fee, putting him in ninth overall. “They were big attractive very athletic horses, and from Magic Millions through Classic, Melbourne and Easter, they were very well received. I think the market supported him well, as they should given his credentials.”

Tiger Of Malay and Profiteer round out the Newgate ‘newbies’ both averaging over $50,000 across all sales and each stood for $15,000. “The Tiger Of Malay and Profiteer yearlings were sharp precocious looking horses, and I wouldn’t be surprised to see those two out all guns blazing in the pre-Christmas races.”

Sword of State’s precocious beginning

Cambridge Stud’s Sword Of State won four of his five starts at two including the G1 Diamond Stakes at Ellerslie and trained on to add a Group 3 at three. His first yearlings were adored by the market, selling 28 yearlings at an average of $204,000, off a first season fee of NZ$15,000.

His average price put him in third overall, and his profitability is certainly something breeders will be paying attention to for 2025.

“The results speak for themselves, and when you put it in context of his fee, he’s done this against well credential stallions at much higher fees. It’s hard not to be impressed. It’s been a great reward for anyone who bred to him, and now the expectations continue as many prominent buyers have backed him as a good stallion,” said Cambridge Stud’s Scott Calder.

“He’s a horse that’s built momentum each year, his books have got bigger as he’s gone along which is a metric to show he’s leaving good types. He’ll probably cover his biggest crop this year which is unusual for his fourth crop, so he’s breaking the rules a little bit. New Zealand breeders are happy to back their judgement when they get a nice foal, and Sword Of State’s covering numbers reflect that.”

Sword Of State covered 126 mares in his first season, and this jumped to 142 in his second season with 131 covered in 2024.

Pinatubo makes it into the top five

Standing for $50,000 in his first year, Pinatubo (Ire) was an unbeaten dual Group 1 winner at two who trained on to add a third Group 1 as a 3-year-old. His first crop arrived in 2023 and at this year’s sales, 50 of his yearlings sold at an average of $175,000. He will also have support of the Godolphin stable with 37 of his first crop not sent to auction.

“We are delighted with the way the market accepted Pinatubo. His top price of $700,000 was a highlight, and a beautiful horse. Most of them have found their way into very good homes. We anticipate that come October, there will be a lot of buzz about them,” said Alastair Pulford.

“Ours are in the system and some are out of our best mares. They are big strong forward individuals and so far very professional. He suits Australian mares very well, and his race record is outstanding. He was never beaten at seven furlongs or less, and is all speed on speed with the Australian broodmare band.”

And that's what it's all about. These first season sires have completed another step in their emerging stallion careers, and come October 2025 when they reach the racetrack, we will begin to see if the market was correct in determining which of these stallions will produce the next racetrack star.