Four of six Dutch horses offered for sale by the Showjumping Fund of the Netherlands (SFN) in an online auction have been sold. Surprisingly, the highest-profile horse of the lot, SFN Zenith N.O.P., ridden to seventh place individually at the 2016 Rio Olympic Games by Jeroen Dubbeldam, was not one of them.

SFN did not feel Zenith’s true value was reflected in the five bids he received, considering his stellar record under Dubbeldam: 2015 FEI European Championship team and individual gold; 2014 World Equestrian Games individual gold; 2014 Furusiyya FEI Nations Cup Final team gold. As such, SFN will retain ownership of the 12-year-old Dutch Warmblood gelding by Rash R. A statement released by the group said:

“The management of the SFN represents the interest of the shareholders and decided to place the last bid of €850,000 [$948,582 at current exchange rates] for SFN Zenith N.O.P. Thus, the SFN has repurchased this horse. This is because the management determined that the expected value of this horse, as was determined in advance by experts, is not in accordance with the bids. The next time the management will focus on the private sale of SFN Zenith N.O.P.

“During the auction, there appeared on the Dutch side little or no interest to preserve Dutch ownership of horses for the exceptionally high level of the sport. This once again underlines the importance of an institution like the SFN. We are even more grateful to our shareholders for the support they want to give in the last few years to Dutch jumping.”

The SFN, whose mission is to purchase and develop top class horses for their international show jumpers, conducted the sale on September 21st through BVA Auctions in the Netherlands. Also available for sale were:

Aquila SFN
The 11-year-old gelding by Ovidius, who was competed by Wout-Jan van der Schans, was the top-selling horse, going to France for €750.000 ($836,847) after five bids.

Ferrari SFN
The six-year-old stallion by Thunder van de Zuuthoeve, ridden by Hester Klompmaker, sold to Belgium for €165.000 ($184,121) after 10 bids.

Djumpsina SFN
The eight-year-old mare by Zürich, ridden by Gerco Schröder, went to Belgium’s Jos Lansink for €90.000 ($100,431) after three bids.

Elmoa’s Blue SFN
The seven-year-old stallion by Mr. Blue was repurchased by SFN for €70.000 ($78,112) after two bids, and will continue to be ridden by Wout-Jan van der Schans.

Chuck Blue SFN
No bids were made on the nine-year-old stallion by Mr. Blue, ridden by Niels Knape, out of Emile Hendrix’s stable. Negotiations are ongoing.

The SFN release noted that: “Aquila SFN goes to a reputable French rider. Ferrari SFN was sold to a famous Belgian jumping stable. Djumpsina SFN moved to Jos Lansink. Eloma’s Blue SFN was purchased by the successor of the SFN, SFN II. [And Wout-Jan van der Schans] will continue to show Eloma’s Blue SFN.

Moving forward, the fund will be referred to as SFN II and will continue to acquire and train horses under this unique format whereby a group of leading horse dealers and trainers, including Emile Hendrix, Willy van der Ham, Egbert Schep, Teus van den Brink and Johan Heins, must all agree unanimously on the potential of a horse before it is purchased.