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Curtain falls on
turbulent year at Goffs

A LOW key December Flat Sale brought the curtain down on the 2008 sales season at Goffs yesterday with the company, like its counterparts across the world, having endured a tough year that resulted in a sharp downturn in its annual turnover.

In all some 4823 horses passed through the ring at Goffs this year to produce a turnover of just short on €70m. In a sharply contracted and very different market to that which currently prevails last year produced an aggregate of just over €122.6m from 5,779 that came up for auction.

"By any standards 2008 has been an extraordinary year and will undoubtedly be remembered for all the wrong reasons but before we talk ourselves in to a total depression let's focus on some of the many positives," commented Goffs chief Executive Benry Beeby.

"At Goffs we sold Europe's highest priced yearling for the second time in the last three years, we welcomed buyers at the Million Sale from 17 different countries and more individual buyers signed for yearlings than at any other yearling sale in Europe. Thesefacts illustrate the diversity of the Goffs Million Sale and the unique work that we, together with ITM, do to attract a multitude of buyers to Goffs."

"We all know the problems we will face in 2009. Just how deep will this downturn be and what can we do to lessen the impact on our individual businesses and industry? Every one of my peers in recent months has cited the same problems and issues but the fact that the worst global economic crisis in living memory has coincided with the much predicted negative effects of overproduction has meant that bloodstock has been hit as hard as any industry."

Looking to how the company will approach the challenges presented by the coming months Beeby commented: "We need to ensure that Goffs remains strong and commercial so we will review every aspect of every sale which may well result in a contracted sales programme in 2009. This will lead to some tough decisions both internally and externally but they will not be shirked as our ultimate goal must be to ensure that Goffs remains strong and vibrant."

"Our closing call is to the Irish breeder. Undoubtedly you have the best bloodlines in the world and we would vigorously encourage you to bring them to Goffs to sell. This avoids extra costs in crossing the Irish Sea and supports the Irish Industry and economy whilst the old carrot of currency is surely no longer relevant as it appears from today's newspapers that there is close to parity between sterling and euro."

 

 

 

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