Media Centre

Beeby advises a
"positive outlook"

WITH just a fixture at Ascot on Monday to complete the 2008 European bloodstock auction season, DBS managing director Henry Beeby called for positivity after the most challenging autumn of sales since the early 1990s while he will also review all aspects of the company's business.

With Doncaster's flagship St Leger Yearling Sale taking place in late August before the recession fully hit home, the company was less badly hit than others with its annual turnover of £36.36 million its third-best ever.

dONCASTER'S END-OF-YEAR FIGURES
YEAR OFF SOLD AGG AV
2008 3,580 2,533 36,360,725 14,355
2007 3,631 2,843 45,563,574 16,027


"In these difficult times I would again urge as much positivity as possible," said Beeby. "Whilst many are struggling this industry thrives on confidence and we feel it is imperative that we stay upbeat to encourage new investors at all levels of the market.

"Things seem so much brighter with a smile and a positive outlook - we just have to ensure that we all weather the storm together and come out the other side ready to take advantage of any upturn."

He added: "This year may be remembered rather more fondly by DBS than many would expect.

"Indeed this has proved a landmark year for us as we finally opened our new sales complex in April after many years of work, debate, discussion and negotiation.

beeby

This year may be "remembered more fondly by DBS than many would expect" says Beeby

  PICTURE: Edward Whitaker 

"At £7 million this is a massive investment for DBS but we are supremely confident that it was 100 per cent the correct decision despite the current weakness of the market as it allows us to trade from the kind of facilities expected from a leading auction house.

"What has been most gratifying is the almost universal thumbs up the entire Complex has received from our many clients whilst they have seen that we have been quick to react to one or two small bits of snagging and comment that only come up when you actually use a new facility.

"DBS sales have performed as well, if not better, than any others relatively speaking and for our turnover to be within 20% of last year’s record is a better result than many of our peers. However, like every other sales company we are victims of the correction taking place across the industry as a result of the current global financial slow down and the long predicted effects of overproduction.

"This ‘double whammy’ is hitting the bloodstock industry as hard as any and it is generally accepted that 2009 will be equally challenging but that will present opportunity to reassess many aspects of our business and, in line with wide ranging reviews at Goffs, DBS will ensure that our programme of sales are robust and viable, not just for DBS but for our many loyal clients."

♦♦Read Ed Prosser's December Sales report


 

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