Maybe a wee bit of Irish luck had something to do with it. Despite the challenge of a struggling economy, Ciaran and Amy Dunne's Wavertree Stables emerged from the 2009 juvenile sales season in fine order.
Wavetree Stables was the overall second-leading juvenile consignor, selling 59 horses for $7,846,500. Of those juveniles sold, three were among the top 12 highest-priced with two being sales toppers.
“We were very fortunate given the economic situation,” said Ciaran Dunne, who with wife Amy established Ocala-based Wavertree Stables in 1995. “We were very lucky to have a very exceptional group of horses that attracted the buyers.”
At the Fasig-Tipton Calder sale of selected 2-year-olds in training on March 3, Wavertree Stables sold sales-topper Cup o' Joe for $1.6 million. John Ferguson signed the ticket on the colt on behalf of Sheikh Mohammed bin Rashid al Maktoum. The colt has since been renamed Al Zir.
The Florida-bred Medaglia d'Oro colt out of multiple stakes producer Bayou Plans, by Bayou Hebert, was consigned by Wavertree on behalf of his breeders Fred and Jane Brei's Jacks Or Better Farm. The Breis had consigned the colt to the 2008 Keeneland September yearling sale, but brought him home when he was an RNA at $325,00. Fred Brei, who ooversees his own training operation, broke and trained the colt before turning him over to Dunne 45 days prior to the sale.
“Fred did a great job with the colt,” said Dunne. “He was a good-looking horse, he worked well and he had a lot of lookers so we knew he'd sell well. But when it comes to that kind of price, you're more hopeful than expectant.”
Also at the same Fasig-Tipton sale, Wavertree Stables sold a Giant's Causeway out of Yard Art, by Lasting Approval, filly for $600,000. Also a $325,000 RNA at the Keeneland September yearling sale, the filly sold to Whisper Hill Farm at the Calder sale.
Seven days after the Miami sale, the Wavertree Stables operation was across the country for the Barretts March sale of selected 2-year-olds in training in Pomona, California. It was worth the trip as Wavertree sold the sales topper there as well and was the leading consignor of the sale. Wavertree sold five horses for a gross of $1.4 million.
Topping the sale at $650,000 was a colt by Tiznow out of the Storm Cat mare Hurricane Judy. Dunne and partners Jack Goldthorpe and Vern Dubinsky purchased the colt for $200,000 at the 2008 Keeneland September yearling sale.
“When they were at the farm, the Medaglia d'Oro colt and the Tiznow colt always galloped together,” said Dunne after the sale. “They were definitely superior horses. And both worked in the same time, :10.60, at the sales. We were encouraged that we could sell two sales toppers who didn't have to work in nine and change. We appreciate that the buyers bought them more on the way they moved and showed at the barn. That makes our job easier and it's easier on the horse.”
Necessary Success
As further proof of how good fortune has been with Wavertree this year, the operation and its partners are enjoying a different kind of success with a juvenile that didn't sell. Wavertree partners with Mike Akers and Randy Zeller of Dapple Bloodstock and David Greathouse of Greathouse Pinhooks in pinhooking ventures. At the 2008 Fasig-Tipton July yearling sale, Dapple Bloodstock, agent, signed the ticket for $160,000 on a filly by Harlan's Holiday out of Song and Danz, by Unbridled's Song.
The filly was then consigned by Wavertree Stables, agent, to the 2009 Barretts March juvenile selected sale. She was an RNA at $270,000. Two months later, she was consigned by Wavertree again to the Barretts May juvenile sale only to be withdrawn.
“We tried to sell that filly, but we just couldn't get her sold,” said Dunne. “She ended up being the only two year old we didn't sell through the ring or privately. So we decided to race her ourselves. It wasn't what we planned to do, but it was the only thing left to do with her.”
Appropriately named Necessary Evil, the filly has had better luck with the winner's circle than she did in the sales ring. Racing for Glencrest Farm and Dapple Stable, Necessary Evil broke her maiden at first asking and set a track record. On May 31 at Hollywood Park, she won by nearly four lengths in track record time of :56.68 for five furlongs.
Then in but her second start, the Doug O'Neill trainee became a graded stakes winner. On July 12, Necessary Evil romped to a three-length victory in the Hollywood Juvenile Championship Stakes (G3).
Dunne and his 11-year-old daughter Caitlin were on hand at Del Mar on August 7 when Necessary Evil finished second to Mi Sueno in the Sorrento Stakes (G3). The runner-up finish padded her earnings to $117,600.
“We're having a great time with the filly,” said Dunne. “It's been a lot of fun for the partners to race a horse. It's a different kind of satisfaction than selling and we're all enjoying it.”
Deep Irish Roots
Born in Kildare, Ireland, Dunne's father was the master gardener at the Irish National Stud and his family lived on those storied grounds. In 1916, William Hall-Walker, who was known as Lord Wavertree, donated his Tully Stud to the English government. When Ireland later won its independence from British rule, Tully Stud became the Irish National Stud.
“Right out of high school, I had the opportunity to enroll in the Stud Management Course at the Irish Stud,” recalled Dunne. “It was a tremendous opportunity I would’ve never had if my father hadn’t been the gardener there. That’s where it started and I’ve been in the horse business ever since.”
But it was Australia and not Ocala that Dunne had his sights set on. After graduating from the Irish Stud program, Dunne was off to England to work with stables there and his long-term goal was to go to Australia.
“That was my dream,” said Dunne. “But it was going to take a lot of money. So I had a plan to come to work in Kentucky, save up my money and then go to Australia.”
While still in England, Dunne acquired a Keeneland yearling sales catalogue. He went through it and wrote letters inquiring about employment to all the major Lexington-based consignors. Dan Rosenberg of Three Chimneys passed the letter he received on to Steve Johnson at Margaux Stud. In 1987, then 21-year-old Dunne came to work for Margaux Stud. Later that led to working on the racetrack with trainers Tom Skiffington and Niall O’Callaghan. Then back to Versailles to work at John Gunther’s Glennwood Farm, where he met Amy in 1991.
A native of Louisville and a graduate of the University of Louisville’s Equine Program, Amy was blazing her own trail in the Thoroughbred business. She’d been a stud groom at Three Chimneys, worked for bloodstock agent Mike Ryan, and was an exercise rider at Glennwood Farm when she and Dunne met.
Ocala Bound
In 1994, the couple moved from Lexington. Not to Australia, but to Ocala.
“Amy had an opportunity to work with a new sales company, Horsemen’s Bloodstock Services,” said Dunne. “So we moved to Ocala and that’s where we’ve been ever since. I still haven’t made it to Australia.”
While getting their pinhooking and training business going, the couple worked for different Thoroughbred operations in the Ocala area. Amy worked for Summerfield Sales while Dunne put in stints with The Oaks and Barry and Shari Eisaman. But it was a struggle, trying to work for other people, as well as themselves.
“We were ready to give it up,” said Dunne. “Then one of our clients, Darrell Sapp, sent us twelve horses to break and train. That was just what we needed to just start concentrating on our own business. We made it official and leased a barn at Classic Mile in 1995.”
In September 2002, they purchased 100 acres and moved Wavertree Stables to its current location. The facility includes a 64-stall training barn; during the peak fall season, the barn is filled to capacity. In addition to the horses bought for pinhooking ventures, Wavertree also breaks and trains horses to race for various clients. The Dunnes share a training track with fellow Irishman and juvenile consignor Eddie Woods. It should be noted that Woods was the 2009 leading juvenile consignor with gross sales of $8,061,500. Woods also sold the highest-priced juvenile of the season in Vallenzeri, who sold for $1.9 million at the Keeneland April 2-year-olds in training sale.
“I think it's great that Eddie and I finished one-two,” said Dunne. “When you think about, there were a lot of good horses galloping on that track that went on to sell well at the sales.”
And speaking of sales, Wavertree recorded a milestone year in 2006. The operation posted gross sales of $10.8 million and sold its highest-priced juvenile to date. At the Barretts May sale of 2-year-olds in training, Wavertree Stables sold Unbridled Slew for $2.5 million to Darley Stable.
Yearling Shopping
Looking ahead to the yearling-buying season, Dunne is approaching it with a realistic attitude.
“We're not smart enough to come up with a better plan than what we've been doing,” he said, chuckling. “So it'll be pretty much business as usual for us. But I think with the economic climate still unsettled, things will be at a much more realistic level. We expect to be able to buy yearlings at realistic prices and that in turn will allow us to expect realistic prices at the two year olds sales.”
When it comes to buying yearlings, Dunne said the focus is more on what's in front of him than what's on the catalogue page.
“With our high-end buying price range being $150,00 to $200,00, we usually buy more from what's on the end of the shank than pedigree,” he said. “And a horse has to pass inspection by our whole team before we even put it on the list to bid on.”
As for what the Wavertree team looks for in a yearling, Dunne said, “The obvious things that everyone is looking for in a horse with size and substance. But first impression means a lot too. We like a horse that comes out of a stall to be shown and has charisma. And, of course, they have to have a good, nice-striding walk.”
Once back at the farm, the yearlings are eased into a breaking and training program. “We start slowly and gently with them,” said Dunne. “We do a lot of stall work, getting them used to the bit, the saddle, someone on their backs. We generally have them out on the track in about a month to five weeks. We jog them and gallop them in sets of eight, then work them later in pairs.”
According to Dunne, the training program emphasizes “strong gallops of a mile and a quarter to a mile and a half with two-minute licks. Then one good work before we ship out for the sale.”
Wavertree sells in all the major sales, beginning with the Florida vendues in February, California in March and May, Keeneland in April and finishing up in Maryland. The consignment usually numbers six to 10 at each sale.
“We are very fortunate to have been associated with all the great people we have been involved with since the beginning,” said Dunne. “None of our success could've happened without a lot of help, the great team we have, and a lot of good luck.”
WAVERTREE STABLES
Owners: Ciaran & Amy Dunne
Location: Ocala, FL
Most Expensive Juvenile Sold: Unbridled Slew, $2.5 million,2006 Barretts May 2-year-olds in training sale
Leading Runners Sold: Effectual, Gone Fishin, Honey Ryder, Liquidity, Point Determined, Shakespeare, Stream Cat, Suni, Your Tent Or Mine
