Horse Racing

“You Have To Kiss A Lot Of Frogs Before You Find Your Prince”


By her own admission, Eve Johnson Houghton doesn’t have the limitless resources to exploit the coveted revenue, which makes her successes in recent seasons all the more impressive.
The trainer sent 10,000gns buying Chipotle (GB) (Havana Gold {Ire}) to win at Windsor Castle S. at Royal Ascot last season and, proving that result was no luck, took home. Tattersalls-sponsored lucrative sales race at Curragh on Sunday with another son bought cheaply by Havana Gold, undefeated Streets Of Gold (Ire).
With the help of Anthony Bromley of Highflyer Bloodstock, Johnson has extracted some significant value from the incredible sales in recent seasons, with the £27,000 purchase of Streets Of Gold being the new example. most about that.
Along with revealing her approach to achieving desirable revenue, Johnson Houghton provides insight into what it takes to run a busy racetrack and how she continues to find her way into the ring. winner’s fin despite operating on a tight budget in this week’s Q&A.

Brian Sheerin: You’ve had great success with your 2-year-olds in recent seasons. Chipotle flagged the stables last year, and now, Streets Of Gold, another subsidiary of Havana Gold, has put the barn on the lights. What is your approach to achieving desirable sales?
Eve Johnson Houghton: I do sales with Anthony Bromley. My father also went through the pedigree. We review most of the horses at the sale and there are a few things we don’t like. For example, I don’t like a mare that has never produced anything, no matter how handsome the horse is. I don’t mind an untrained mare or even a first pony. It has to be in good physical shape and I don’t mind buying people aspired by what the market considers an old fashioned horse. As long as the stats are fine on the steed, I don’t mind that. Anthony looks at all the horses and he comes up with a shortlist. Now he knows what I don’t like – it took us several years to figure out what we like and what we don’t. I’ll take a look at the horses on the list and we’ll start from there.

BS: A lot of people will describe Havana Gold as unfashionable but along with Chipotle and Streets Of Gold.
EJH: They don’t tend to be too big, that’s why they don’t make a lot of money, but that doesn’t bother me. They’re big enough if they’re good enough – as long as they have lots of bones and something about them.

BS: I know that you said before that you put a lot of emphasis on the aspirational walk. Does that matter as much when you’re looking at those early sprint patterns?
EJH: Oh, yes, because they need to be able to use themselves. It’s very important. If they cannot use themselves while walking, they will not be able to use themselves when they are galloping.

BS: And what do you like about Streets Of Gold when it comes to sales?
EJH: He’s just a very good horse. Looking back at my portfolio, I said, ‘very nice, looks like Chipotle and a good walker.’ He has open knees, but they are always closed.

BS: Personality wise, he seems unruly so he’s very relaxed.
EJH: All he does is eat and sleep. He showed us nothing at home. Honestly, I think the travel took a little bit of him, although it’s hard to say, because all he does is sleep and eat; even though he’s sleeping more than usual. He hasn’t ridden since Curragh but we’ll give him a ride tomorrow [Friday] and see how he is.

BS: It was added to a good 2 year old race. Do you have anything in mind?
EJH: There are many options. We’ll have to talk about it but we don’t know yet.

BS: You were very successful at Irish Champions Weekend in the past when Ice Age (Ire) (Frozen Power {Ire}) landed Bold Lad but how many hits did Sunday’s win give you?
EJH: Great. It’s great. It’s good to have a plan but even better when it pays off.

BS: No one can accuse you of bad disposition of your horse. The stats will support that as you are having another good season with 38 winners in the table.
EJH: We try. I don’t have the best crossbred horses and I don’t have the most expensive horses. Unfortunately, my owners – great as they are – don’t have deep pockets. But, I try to do the best I can with every horse that is sent to me. It’s important to me that I put them in a race where they have the best possible chance of success.

BS: By your own admission, you are operating on sales budget but you continue to give trump cards.
EJH: Going back to buying them, Anthony and I work very well together. It was a big team effort in buying the horses and then a big team effort in getting them ready for the races here. I have great staff who support me and we have long conversations about where we are going and what we are doing. In the end, it was me.

BS: The 2-year-olds made up 14 winners this season. My guess is that a lot of those will be bought to specs as aspirants.
EJH: That’s why I operate on a limited budget, because I don’t buy anything that I can’t pay if I can’t sell. I can’t go out and buy a big 200 horse without the owner backing me up doing it. I know, pretty much, my owners will come back to ride again each season and what horses will suit them. But I don’t tend to get big pre-sale orders, so when I buy one, it tends to take a little hit and hopefully sell them. To be fair, we have an annual hankering parade and we tend to sell out everything at that point.

BS: Have sleepless nights?
EJH: Of course yes. I hate being in debt. I’m the type of person who hates to owe anyone anything. Of course there are sleepless nights. Did we buy the right horse? Are we doing the right thing? It’s a big business to run, let alone go out and spend your own money to buy them.

BS: On the track, things are going very well, but beyond that, how is the financial landscape looking for coaches in the UK in the face of rising costs?
EJH: I run a very tight train. Always done. We have very tight margins but you have to run it like a business. A lot of the problem is that some trainers don’t run it like a business. Not only did we have to source horses, train them, and find the right breeds, but we also had to run a business. There are only so many hours in the day and one of the balls could be dropped somewhere along the line. If you don’t have a business, you can’t train a horse. I was very lucky because I took a business course before starting the training courses. I also worked in a coach’s office. I know what I’m looking for and know how to do it. I keep a close eye on what goes in and out of my bank account.

BS: And I’m sure there’s a temptation to stick your neck out and stretch your budget when you really like an item at the sale?
EJH: You need restraint but sometimes, there are times when you say, ‘I wouldn’t go home without that.’ Also, I sometimes say to Anthony, ‘if you have another bid, it’s your horse.’ It’s about knowing what to stick your neck out for and what not to do.

BS: What is your average spend on sales?
EJH: I suppose it would be 20 or 30 thousand. The most expensive horse I bought by spec was £45,000.

BS: Chipotle for £10,000 and Streets Of Gold for £27,000 are huge results and prove it can be done on a budget.
EJH: I’m secretly proud of myself that I’ve run a tight ship and that we look for exotic diamonds in the rough. There are some that don’t reach the level and as I tell my owners, ‘you have to kiss a lot of frogs before you find your prince.’ You might think that you will always buy a nice horse because there will be some bad ones along the way. You have to be realistic.

BS: In regards to selling them, I’m sure your operation has a commercial element, as Chipotle was sold at the end of its 2 year old campaign for 210,000.
EJH: Well, that’s different. When Covid hit and I thought I wasn’t going to get any orders, I set up an organization specifically for 2-year-olds, all of which will go on sale at the end of the season. So I’m planning to buy three 2-year-olds, all without spending a lot of money, for 20 at 5% each with a package fee. The theory is that we can get one half-hearted pony, one completely useless, and one that can go lame with us. The Chipotle happened to be half better but one broke a bone and the other wasn’t as good. That’s how it works. We went again this year and two had great success, they won their races without becoming superstars, and the other was not very fast and currently plays Polo. If you spread the risk and one comes up, it can carry the whole thing and everyone can carry on next year.

BS: Have you started your studies for the September 2019 Promotion at Tattersalls?
EJH: Like I said, my dad looks at genealogies and flags things that he likes. Anthony and I will go through it independently and then we will go through the physicals. There will be certain horses that we won’t bother looking at, but once we’ve found the physical, we’ll look at the pedigree in more detail and decide what it’s worth to us.

BS: And you were active in Somerville. Many people have reported that the market is really strong but you are managing to buy everything?
EJH: It’s pretty strong. I have two that I really want and others that I like. I set a price on them and they were in that price range so I bought them.

BS: Obviously we’re going through a period of inflation but, by all accounts, you’ll continue to operate within the budget you set yourself.
EJH: Until I have an owner come to me and say they want a horse for x amount, I can’t spend more than I’m spending on the horses I’m buying in spec. Skill. I will not be in debt.





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