George Washington's only foal sold for 280,000 euros during the fifth and final session of the Goffs November foal sale. Photo: Irish National Stud

Edited Goffs press release

Gerard Burke of Glidawn Stud bought the bay filly, which is a half-sister to 2002 Prix Penelope (Fr-III) winner Ombre Legere (by Double Bed). The weanling’s other siblings include the winner Flawly (by Old Vic), who was group III-placed in France and finished second in the 2000 Garden City Breeders�?Cup Handicap (gr. IT). The 280,000-euro filly was bred in Ireland by Stefano Luciani in the name of Azienda Agricola Loreto Luciani . The Irish National Stud consigned her to the Goffs auction. She is out of the 17-year-old Rainbow Quest mare Flawlessly.  A champion in Europe, George Washington was euthanized after breaking down in the 2007 Breeders�?Cup Classic (gr. I) at Monmouth Park.  Eleven weanlings sold for 100,000 euros or more apiece during the final session. For the entire auction, 503 horses were sold (from 1,008 offered) for a gross of 10,058,100 euros. The average price was 19,996 euros. Last year, the 669 weanlings that were sold grossed 20,790,400 euros and averaged 31,077 euros.  “What can I say that hasn’t already been said by every sales company chief over the last few months?�?said Goffs chief executive Henry Beeby. “Obviously, we are disappointed with the results as the bare figures do not make happy reading across the board. However, what they do not show is that all the pinhookers have stated that it has been as hard as ever to buy the ‘nice foals�?and today’s trade in particular has borne out that view.  “The bloodstock industry and Goffs have enjoyed unprecedented and sustained growth and buoyancy in recent years, often defying trends elsewhere but that could not go on forever. Whether the drops we are seeing would have been as severe if we had only had to deal with the effects of overproduction or the global economic climate rather than both at the same time is anyone’s guess. Maybe no one was able to predict what has happened in the financial world, but many have expressed concern about the increasing numbers of Thoroughbreds for some time and it seems to be generally accepted that there are just too many horses for the market. That was certainly the problem in the early part of the week when clearance rates told their own story and reflected the lower end yearling sales in every location. Painful though it may be for us all to take, it may have a beneficial effect in the medium to long term with the result that we come out of this dip all the stronger.�?/P>

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