Vibes are good after Jooste

Life in the South African bloodstock industry is seldom plain sailing. The country faces strict quarantine rules that limit its presence on the world stage and there has been infighting among significant industry figures.

Among those figures is Markus Jooste, the man who seemed hellbent on total domination of the racing and bloodstock industry, having been the country’s perennial leading owner, a director in a major sales house – where he was also a leading buyer – and a key stakeholder in one of nation’s biggest stud farms.

So, when the business tycoon’s ship sank amid accountancy fraud allegations in the Steinhoff case, the South African bloodstock community was rocked.

However, after a buoyant renewal of the Bloodstock SA National Yearling Sale in Johannesburg last week, some believe Jooste’s departure from the industry means there’s light at the end of the tunnel.

As a former director of rival auction house Cape Thoroughbred Sales, Jooste had not bought at the NYS for five years. But many expected the Mayfair Speculators man to have an impact on trade at the 2018 NYS, as it was feared purchasers had blown their budgets on buying up the many Joosteowned horses in training he has been forced to sell to try to repay debts of R1.6 billion.

However, the sale surpassed all expectations, with the select Session 1 proving a particular hit – 171 yearlings fetching R99,555,000.

“I’m very surprised at the strength of trade,” said the sale’s leading buyer, Jehan Malherbe of Form Bloodstock. “I thought selling so many horses on the eve of the sale would have had an impact but it doesn’t seem to have.”

Malherbe’s sentiments were echoed by trainer Mike de Kock, who said: “There seems to be a lot more people coming out and buying horses now. When you have one player dominating the industry it isn’t healthy.”

Among the buyers was CTS chairman Chris van Niekerk, whose Rainbow Beach Trading had not made a NYS purchase since 2013. Many felt Van Niekerk’s actions should be taken as an olive branch.

“I hope all the politics is behind us – it feels like everyone’s looking to the future,” said Malherbe.

Among those looking to the future was Jessica Slack of leading NYS vendor Mauritzfontein, who said: “The industry is far more positive than it was 12 months ago. There’s been a great feel to this week – the sale has definitely felt like a turning point in terms of people’s optimism.”

The sale’s turnover was up 25% year-on-year at R140,240,000 – and the sense of bonhomie was also high. –