Michael Lowry capped a fine week in the bloodstock business by bringing earnings in the sales ring to over €813,000 since Friday.
The Independent TD offloaded his prized mare, Wedding Morn, for €361,000 shortly before 6pm at the Tattersalls December sale in Newmarket, England.
The 11-year-old went on sale four days after the filly foal Mr Lowry bred from her in March was traded in Tattersalls for €452,000.
The two horses, and the foal Wedding Morn is currently carrying, were the most valuable animals currently listed in either Mr Lowry’s name or in the MALM syndicate, of which he is a member.
The value of Wedding Morn rocketed this year because of the emerging success of the breeding results between the mare and the expensive stallion Mr Lowry has been sending her to every year, Danehill Dancer.
The €361,849 Wedding Morn achieved was more than twice the average at the second day of the high-calibre mare sale.
However, it was less than what might have been expected, given she is pregnant to Danehill Dancer, the same stallion that sired Friday’s high-priced filly and Probably, the two-year-old colt that captured attention on the racetrack last June.
Danehill Dancer stands at Coolmore, where Mr Lowry kept his mare since he bought her in 2007 from a company controlled by one of the managers of the internationally renowned Fethard enterprise.
According to published prices, Mr Lowry would have invested €60,000 last spring to have his mare covered by Danehill Dancer.
This is in addition to approximately €50 a day in boarding fees required to keep a mare at the farm.
It is not known whether Mr Lowry decided to reinvest his Tattersalls earnings back into bloodstock at the event.
During the summer, he established a new unlimited company, Glebeland Farms, to manage his bloodstock and livestock assets.
However, he told the Irish Times he decided to keep this as an unlimited company to avoid media scrutiny of his private business.
The €361,000 return for Wedding Morn came despite a nervous opening to the bidding when the asking price of 200,000 guineas had to be dropped to 20,000 guineas before the first arm was raised.
It stalled again at 70,000 guineas and 160,000 guineas before an agent, London Thoroughbred Services, secured the horse for 280,000 guineas (€361,849).
The Tattersalls event is still conducted in guineas and converted to sterling.
The 11-year-old mare was acquired by Mr Lowry as he emerged from financial difficulties in 2007. At this point, he had to settle a €1.4m with Revenue.
However, the investment began to pay off handsomely in the last five months after Probably, won the Railway Stakes in the Curragh. The juvenile is now in winter training and is already entered in next year’s Derby.
© Irish Examiner Ltd. All rights reserved
More in this section