In 1766, a Lancashire-born stud groom named Richard Tattersall began what would become Europe's premier bloodstock auction house. What started as a modest leasehold at Hyde Park Corner has evolved into a Newmarket institution that now turns over more than £400 million annually and anchors thousands of local jobs.
The Stud Groom Who Founded an Empire
Richard Tattersall was born in Hurstwood, Lancashire, in June 1724. After receiving his education at Burnley Grammar School, he entered service as stud groom to Evelyn Pierrepont, 2nd Duke of Kingston-upon-Hull. His position afforded him intimate knowledge of bloodstock and, crucially, the trust of the aristocratic patrons who dominated racing in that era.
In 1766, Tattersall secured a 99-year lease from Richard Grosvenor, 1st Earl of Grosvenor, for premises at Hyde Park Corner. The location, then on the outskirts of London, was strategic: it placed him within reach of the capital's wealth whilst remaining connected to the sporting world. The premises included two "subscription rooms" reserved for Jockey Club members, which quickly became a rendezvous point for sporting and betting men.
Tattersall established his reputation on "straightforward honesty and businesslike precision." Within a decade, he was handling significant transactions for the highest echelons of society. In 1774, he sold the stud of the Duke of Kingston-upon-Hull, and in 1786 arranged the sale of the Prince of Wales's stud. His nickname, "Old Tatt," reflected both his familiarity within racing circles and the esteem in which he was held.
From Hyde Park Corner to Knightsbridge
The original 99-year lease at Hyde Park Corner expired in 1865. Richard Tattersall (1812–1870), known as "Young Mr Richard," moved the business to Knightsbridge Green in April of that year. The relocation marked a new chapter, but the firm's destiny was already shifting toward Newmarket.
The company records the purchase of Park Paddocks in Newmarket in 1870. The July Sale of that year was the first Tattersalls auction held at the site. The acquisition proved prescient: Newmarket was already established as the "home of British flat racing," and the town's infrastructure supported the bloodstock trade more comprehensively than London ever could.
Park Paddocks: A Newmarket Landmark
Tattersalls now occupies a 45-acre site at Park Paddocks, situated off The Avenue between the High Street and the railway station. The location places the auction house at the heart of Newmarket's racing district, surrounded by training yards, stud farms, and the twin racecourses that define the town.
The site has developed considerably since 1870. Paddocks, yards, and administrative facilities were added throughout the 20th century. A new sales ring designed by Sir Albert Richardson now serves as the focal point for the major auctions that draw international buyers to Newmarket throughout the year.
The move to Newmarket became definitive in 1965, when Tattersalls relocated its yearling sales from Doncaster to Park Paddocks. The decision consolidated the company's operations in Suffolk and established Newmarket as the undisputed centre for British bloodstock auctions.
The Modern Business: £433 Million in Annual Sales
Tattersalls remains a family-controlled business until 1942, when Somerville Tattersall died and ownership passed to partners Gerald Deane, Robert Needham, and Terrence Watt. Today, it operates as Europe's leading bloodstock auctioneer, selling approximately 10,000 horses per year.
The figures are substantial. In 2022, sales at Tattersalls totalled £433.8 million, with annual turnover exceeding 400 million guineas for the first time in the company's history: 413,198,735 guineas worth of bloodstock changed hands. The company still prices horses in guineas (21 shillings, or £1.05), a tradition that connects modern transactions to the firm's 18th-century origins.
Recent expansions have broadened the company's scope. In 1988, Tattersalls began holding auctions at Old Fairyhouse in County Meath, Ireland. A 2014 acquisition brought a majority stake in French sales company Osarus, and the 2015 purchase of Brightwells Bloodstock Sales added Cheltenham and Ascot sales to the portfolio.
Newmarket's Racing Economy
Tattersalls is one pillar of a racing industry that sustains over 3,000 jobs in Newmarket. The town hosts two racecourses, 70 training yards, more than 3,000 horses in training, and over 60 stud farms. The British Racing School, the Jockey Club Rooms, the National Horseracing Museum, and Tattersalls itself form a cluster of institutions that define the town's identity.
Newmarket stages 39 racing days per year, a record for any British town. The presence of Tattersalls adds a commercial dimension beyond racing: the auctions bring international buyers, veterinarians, bloodstock agents, and transport companies to the town. The economic impact extends to accommodation providers, restaurants, and the logistics firms that handle the movement of horses across borders.
The company's significance is reflected in the built environment. The sales ring at Park Paddocks is a landmark in its own right, visible in the Newmarket skyline alongside the heath, the racecourses, and the historic training grounds of Warren Hill and Long Hill.
Two and a Half Centuries of Continuity
Richard Tattersall died on 21 February 1795, having founded a business that has outlived empires, survived two world wars, and adapted to changes in transport, communication, and regulation. The firm's capacity to evolve whilst maintaining its core function, bloodstock auctioneering, has been key to its longevity.
The transition from a single stud groom's leasehold at Hyde Park Corner to a 45-acre Newmarket campus handling nearly half a billion pounds in annual sales represents more than commercial expansion. It reflects the growth of thoroughbred racing as a global industry and Newmarket's emergence as its British headquarters.
Today, Tattersalls is listed among the key institutions that define Newmarket, alongside the racecourses, training yards, and the National Stud. The company's presence has shaped the town's development for more than 150 years and continues to underpin a significant portion of its employment and economic activity.
For a business that began with a 99-year lease on the outskirts of Georgian London, the trajectory has been remarkable. The stud groom who started it all could scarcely have imagined that his name would still command the industry nearly 260 years later, or that the firm he founded would become synonymous with the town it eventually called home.