News

Easter Concludes With Outstanding Clearance Rate

7th Apr 2009

The 2009 Inglis Australian Easter Yearling Sale has drawn to a conclusion with another two yearlings topping the million dollar mark at Newmarket today, as the overall clearance rate continues to rise.

Post Sale transactions had the clearance rate above the 83% mark late this afternoon as the sale gross reached $89million at an average of $241,355.

“Everyone knew the sale would be down and we have seen the market fall to somewhere between 2005 and 2006 levels,” Inglis Managing Director Mark Webster said.

“With Easter being the southern hemisphere’s most prestigious sale, the figures stack up extremely well when compared to the major Northern Hemisphere sales last year, which lost considerably more ground, not to mention the significantly greater hit endured by stockmarket investors around the globe.

“It was clear during the opening day that vendors and buyers were feeling their way, but it has been most pleasing to see confidence grow over the final two days, as indicated by the clearance rate continuing to climb.

“With our post sale Make an Offer service, the current figure will continue to improve over the next few days and I consider the results achieved over the past three days to be as good as we could have hoped for in the current circumstances.”

Sheikh Mohammed’s Darley continued its outstanding support of the sale, securing the day’s top priced lot - a Redoute’s Choice filly from G1 Canterbury Guineas winner Fine Society (Marscay) - to top the buying list with 15 yearlings for a total spend of $7.185million.

Representative John Ferguson felt the sale held up very well given the current climate.

“I went to the American sale in September and the European sale in October and this sale has held up much better,” he said.

“People here might feel like it is a steep fall, but in comparison to other markets, it is not too bad and it will rebound faster here because racing here is great and prizemoney is better than many other places.”

Nathan Tinkler’s Patinack Farm was also extremely strong throughout the sale, signing for 17 yearlings for $5.915million.

Shadwell Australia (13 for $4.265m), Anthony Cummings (12 for $3.54m) and James Bester (7 for $3.445m) were the other buyers to top the $3million mark.

Today’s other million dollar lot, an Encosta De Lago filly from multi million dollar earner Elegant Fashion (Danewin), fell to Mark Pilkington for $1million.

Both of today’s seven figure yearlings were offered by Brooklyn Lodge.

“They were two beautifully-bred blue-chip fillies and it's a great result, Brooklyn Lodge's Mike Fleming said.

“We had never sold a million dollar yearling until today, so it's a nice thrill to see these two fillies make that kind of money.”

In all, eight horses sold for $1million or more this week and 32 made $500,000 or more.

The positive outcome during the first Session continued late this afternoon, with the 100 Lot Easter Session II averaging $66,423 for a gross of $5.181million at an outstanding clearance rate of 85%.

“This session has once again exceeded our expectations and we are thrilled with those figures,” Webster said. “It shows the new structure is working really well and it gives buyers who may have missed out earlier another chance to not leave empty handed.”

Redoute’s Choice finished the sale as the leading stallion by both gross and average, with 50 selling for $24,215,000 at an average of $484,300

Encosta De Lago, who supplied the sale topping $1.8m colt from Show Dancing, had 53 sell for $18,487,500 at $348,821. Fellow Coolmore stallion Galileo was second on the average list, with 11 sold at $390,909 during Session I.

Darley’s Dubawi finished as the leading first crop sire, with four yearlings selling at an average of $215,000.

Coolmore Stud were the leading vendor, selling 34 yearlings for $10.225million, while Tony Santic’s Makybe was the leading vendor by average, with 8 selling at $541,875.

John Rippon’s Reavill Farm had another outstanding sale, with all eight yearlings offered selling at an average of $417,500, with a top price of $900,000 for the Encosta De Lago-Lisheenowen colt.

Horses passed in during both Sessions are still available for sale via the Inglis Make an Offer service.

Interviews conducted during the sale can be viewed on Inglis TV and the Inglis Photo Gallery contains images taken throughout the three days.

Session 1 Statistics Lots 1 - 500
Catalogued: 500
Sold: 369 - 83%
Passed In: 74 - 19%
Withdrawn: 57
Gross Amount: $89,060,000
Average: $241,355
Median: $180,000
Highest: (Lot 231) $1,800,000

Session 2 Statistics Lots 501-600
Catalogued: 100
Sold: 78 - 85%
Passed In: 14 - 15%
Withdrawn: 8
Gross Amount: $5,181,000
Average: $66,423
Median: $60,000
Highest: (Lot 585) $210,00

Top 5 Vendors By Aggregate Session 1 ($2m or more)
Coolmore Stud, Jerry's Plains: 31 sold for $9,650,000 at $311,290
Arrowfield Stud, Scone: 19 sold for $6,710,000 at $353,158
Makybe, Gnarwarre, Vic: 8 sold for $4,335,000 at $541,875
Yarraman Park Stud, Scone: 13 sold for $3,895,000 at $299,615
Widden Stud, Widden Valley: 19 sold for $3,855,000 at $202,895

Top 5 Vendors By Average Session 1 (3 or more sold)
Makybe, Gnarwarre, Vic: 8 sold for $4,335,000 at $541,875
Emirates Park, Murrurundi: 5 sold for $2,420,000 at $484,000
Brooklyn Lodge, Aberdeen: 7 sold for $3,197,500 at $456,786
Reavill Farm, Freemans Reach: 7 sold for $3,170,000 at $452,857
Arrowfield Stud, Scone: 19 sold for $6,710,000 at $353,158

Top 10 Buyers Session 1 (by aggregate)
Darley Australia Pty Ltd (NSW): 15 for $7,185,000
Patinack Farm Pty Ltd (NSW): 16 for $5,840,000
Shadwell Australia (Vic): 12 for $4,215,000
James Bester Bloodstock (NSW): 6 for $3,380,000
Anthony Cummings Thoroughbreds (NSW): 10 for $3,300,000
T Bott (NSW): 7 for $2,150,000
Danny O'Brien Racing (VIC): 5 for $2,080,000
William Inglis as Agent: 11 for $1,950,000
Dynamic Syndications:2 for $1,910,000

Top 10 Sires (3 or more sold) by Average Session 1
Redoute's Choice: 50 sold for $24,215,000 at $484,300
Galileo (IRE): 11 sold for $4.300,000 at $390,909
Encosta de Lago: 49 sold for $17,817,500 at $363,622
Shamardal (USA): 3 sold for $810,000 at $270,000
Stravinsky (USA): 3 sold for $730,000 at $243,333
Tale of the Cat (USA): 3 sold for $675,000 at $225,000
Dubawi (IRE): 4 sold for $860,000 at $215,000
More Than Ready (USA): 8 sold for $1,645,000 at $205,625
Zabeel (NZ): 14 sold for $2,815,000 at $201,071
Hussonet (USA): 7 sold for $1,405,000 at $200,714