Who said there is a credit crunch? The Dubai market may be suffering , ex-pats may be leaving Dubai to go home , Amlak may shut up shop and stopped lending but Sheikh Maktoum can still splash the cash.  Going back to the Fasig-Tipton Saratoga’s (North America’s oldest Thoroughbred auction company) sale of yearlings for the first time in 20 years, him and his expert bloodstock agent John Ferguson ended up buying a total of 6 horses.

The 6 horses cost the ruler of Dubai a nice tidy $5.5 million , and meant that the prices on all the stock rose dramatically with the very presence of Sheikh Maktoum. I guess the very fear that Sheikh Maktoum may bid on some of the horses meant people were willing to pay over the odds for what they wanted. With Sheikh Maktoum’s ban from racing (well the long distance variety) he won’t be riding anytime soon , but this does highlight a couple of things.  No matter the difficulty the rest of Dubai might be going through there is still plenty of cash at the top. Sheikh Maktoum really loves his horses.

You can read more about the horse buying here

Related posts:

1. Sheikh Maktoum Buys £45m Country Estate