News

Classic Concludes In Sydney

10th Feb 2009

The Sydney Classic Sale concluded at Newmarket today, with 392 horses selling for $10,410,500 at an average of $26,557 at a clearance rate of 73%.

This represents a 17% fall in average and 18% on last year’s gross, an encouraging result in the current economic climate.

“Given what we have seen unfold in the Northern Hemisphere and the first of the Australasian sales this year, keeping the falls to those levels was a reasonable result,” Inglis Managing Director Mark Webster said.

“After a number of years where vendors enjoyed outstanding results, this year is shaping up very much in favour of the buyers and given the success of Classic graduates on the racetrack, I suspect there has been some exceptional value secured here at Newmarket over the past three days.”

The top selling lot today was $100,000 for the Magic Albert -Sri Lanka full-brother to talented Sydney performer Leiserl.

Patinack Farm added another five yearlings during today’s final session, bringing their total Classic tally to 16 yearlings for $888,500. Patinack Farm’s Rick Connolly said Classic had a proven record of success and felt the operation had secured excellent value throughout the sale.

“This sale traditionally produces racehorses and has a very good strike rate. With that in mind, we decided to support the sale, do our study and have a good look at what was here,” Connolly said.

“We found the sale good value and the horses we were able to purchase, we’re extremely pleased to be taking home,” he said. Connolly indicated the Patinack purchases would all be paid up for the $2.5M Inglis race series.

There was good diversity in the buying ranks. Vin Cox (NSW), Adrian Hancock (Sth Aus) and Justin Bahen (Hong Kong) were the leading agents, while Gai Waterhouse (NSW), Nikki Burke (Vic), Rick Worthington (NSW), Darren Smith (NSW) and Neville Parnham (WA) were the leading trainers.

Passed in lots are still available for sale via the Inglis Make an Offer service, available on the Inglis website.

The next Inglis Sale is the Melbourne Premier, which runs at Oaklands from March 1-4. The Australian Easter Yearling Sale will be held at Newmarket from April 5-7 and both catalogues are now online.

Sydney Classic Sale Summary

Lots Catalogued: 607

Sold: 392 (72%)

Passed In: 149 (28%)

Withdrawn: 66

Gross: $10,410,500

Average: $26,557

Median: $20,000

Top Lot (Lot 374) $220,000