11/24/2008 12:00AM

Lane's End cuts stud fees further


LEXINGTON, Ky. - Less than a month after announcing it would cut stud fees for half its stallions for the 2009 breeding season, which opens in February, Lane's End Farm has revised its prices again to include more fee cuts, including trimming A.P. Indy from $300,000 to $250,000 and Smart Strike from $150,000 to $125,000. The move comes amid growing concerns among stallion owners about the bloodstock market in light of severe global downturns for Thoroughbreds at auction since September.

The cuts will not affect 2007 Horse of the Year Curlin, who will enter stud at the Versailles, Ky., farm with a $75,000 fee.

Will Farish, who owns the farm with his wife, Sarah, issued a revised fee list Monday morning that lowered fees for 13 of the roster's 21 stallions. The farm will adjust any existing contracts with breeders to reflect the new lower fees, according to the Lane's End announcement.

"After reviewing the recent yearling and mixed sale results, as well as the current economic environment, I am announcing a further reduction in many of our 2009 stud fees for the Lane's End stallions, and we will be offering 'stands and nurses' on all stallions," Farish said.

The "stands and nurses" term mean that a stud-fee payment isn't due until the resulting foal can stand and nurse, a more generous term than "live foal." The stands-and-nurses term allows a breeder less financial risk if he gets a foal that is born alive but dies before nursing.

Farish also signaled that the farm will hold the line on book sizes, a way of preventing a flood of any one stallion's progeny at auction - another nod to breeders concerned that bigger books of mares will only mean more of the same bloodlines, and lower prices, at auction.

"Lane's End has always carefully monitored the size of our stallions' books, and, in an effort to increase market value for our clients, we will remain sensitive to this issue," he said.

In addition to the cuts for A.P. Indy and Smart Strike, the following Lane's End stallions will drop in price from their originally announced 2009 fees: After Market, from $30,000 to $25,000; Aragorn, from $20,000 to $15,000; City Zip, from $15,000 to $12,500; Dixie Union, from $40,000 to $35,000; Dixieland Band, from $30,000 to $20,000; Langfuhr, from $25,000 to $20,000; Mineshaft, from $40,000 to $30,000; Pleasant Tap, from $15,000 to $12,500; Pleasantly Perfect, from $20,000 to $15,000; Rock Hard Ten, from $40,000 to $30,000; and Stephen Got Even, from $10,000 to $7,500.

Belong to Me ($10,000), Gulch ($20,000), Kingmambo ($250,000), Lemon Drop Kid ($50,000), Mingun ($5,000), and Wando ($5,000) will remain the same.

Lane's End also will keep War Pass, who is just entering stud in 2009, at his previously announced fee of $30,000.

European sales post big declines

Recent sale results from England and Ireland provided examples of market declines.

On Monday in England, the Tattersalls December yearling sale saw a 51 percent decline in gross sales for 103 yearlings; last year 143 horses sold. The average price, about $30,536, was down 32 percent, and the $13,387 median fell 43 percent. The sale-topper was a Sinndar filly out of Alasana, by Darshaan, that sold for 170,000 guineas, or about $267,750. Consigned by Barronstown Stud, the filly is a full sister to English classic-placed Alasha. Liam Norris, agent, was the buyer.

The two-day Goffs auction sold 312 horses for about $9,907,200, down 38 percent from last year, when 431 horses sold at a longer three-day sale. Average price fell 14 percent. As at Tattersalls, Sinndar sired the sale-topper, this time the Group 2 winner Four Sins. The Group 2-winning daughter of Sinndar was in foal to Dansili and sold to John McCormack Bloodstock for 620,000 euros, or about $793,600. The Aga Khan consigned her.

Sinndar is on a hot streak at auction lately. He also sired Sunday's top-priced horse at Goffs, a 3-year-old filly named Rayina who already is a winner. The daughter of Rayyana, by Rainbow Quest, was another Aga Khan-consigned horse; she sold to Spratstown Stud for about $128,000.

Sinndar, a son of Grand Lodge, won the 2000 Epsom Derby and stands at the Aga Khan's Haras de Bonneval in France.

* The Arqana sales company in France has appointed Tony Lacy as its North American representative. Lacy also is a sales and bloodstock consultant for Four Star Sales and manages racing and pinhooking partnerships.

* Grade 3 winner Got the Last Laugh will enter stud at McKathan Brothers Farm near Ocala, Fla., in 2009 with a $2,500 fee. The 4-year-old son of Distorted Humor and Theresa's Tizzy, by Cee's Tizzy, will stand as the property of a partnership.