It’s early days but it looks as if the bloodstock market is going to hold up reasonably well this autumn, despite all the turmoil in the world and economic uncertainty closer to home.

We’ve had two major yearling sales in recent weeks - in Deauville and Doncaster - and the results indicated that trade is back between 10-15% on last year’s numbers. That’s nothing to shout about but it’s also not the collapse that many had feared.

Plenty of Irish vendors and breeders were involved in those two sales but of course the real test will come when Tattersalls Ireland hosts its yearling sale at Fairyhouse on 24-26 September, followed by four days of trade at Goffs from 1-4 October.

Just like in racing, the bloodstock world has the capacity to produce fairytale results and there was a particularly remarkable rags-to-riches story at Doncaster. Breeder Paul Giles from Moyfinn Stud in Longworth, Co Meath, sold a yearling there for £350,000.

It was the equivalent of a 20/1 winner as Giles bought the mare carrying the foal for just £15,750 two years ago. And of course he still has the mare and she is only seven years old.

The chief reason for the high price was the fact that the colt is a half-brother to Cool Hoof Luke, winner of the Group 2 Gimcrack Stakes at York a week before the sale.

Tasleet, the sire of the £350,000 yearling, has also been in the news as the sire of Bradsell, winner of the Group 1 Nunthorpe Stakes at York.

This mare caught my eye when she was coming around the parade ring, then she caught my eye again so I asked the boys what they thought

Bloodstock agent Amanda Skiffington, who bought the horse at Doncaster, said: “We had hoped to pay less, obviously, but those updates meant that was never going to happen.”

Explaining how he picked up the mare, Giles said: “I was looking for a mare for my two nephews and maybe myself. I was looking for three days, but everything we picked out went out of our reach.

"This mare caught my eye when she was coming around the parade ring, then she caught my eye again so I asked the boys what they thought.

“We took her out, had a look, and asked what the reserve was. Thankfully she fell within budget. It was just a stroke of luck.”

Regarding the run of updates, he said: “We were saying in the spring, wouldn’t it be great if Cool Hoof Luke won? Then when he was fourth in the Coventry Stakes we thought ‘that’s great, but would he ever get to win one’? And that’s the way it’s worked out.

“I was on the boat coming over and we were telling a chap on there that there was a race we’d like to watch at three o’clock. There was no coverage on the boat but the next thing the fella called us over and told us he had the race on his laptop, so that’s where we watched it.”

Moyfinn Stud has been in business for decades, but had never landed a touch like this before.

“That sort of money was what I dreamed of, it’s not what I expected,” said Giles. “You have to pinch yourself a bit. I’ve been in horses all my life in one way or another and I’ve never had anything like that. It’s been a good day’s business.”

Giles reported that Dutch Monument had no foal this year but is back in foal to Kodiac, and that he might now seek out another mare.