News

Increases Across The Board At Classic

25th Jan 2010

The 2010 Sydney Classic Yearling Sale came to a close at Newmarket today, highlighted by a clearance rate of 83% and a gross of $12,671,500, which represented a 20% increase on figures from 12 months ago, a remarkable result for a catalogue offering 85 fewer lots.

Figures improved across the board and the sale average held strong from yesterday, finishing at $32,913, up from $26,598 in 2009.

Inglis Managing Director Mark Webster said there were a number of factors that contributed to the positive result, which is in contrast to most other sales around the world over the past 18 months.

"We worked hard to get buyers here and it was great to see the sale buck the trend with the average up 24% and the median up 25%” Webster said.

"In saying that, we made a conscious decision to be more selective when recruiting yearlings and we were prepared to offer slightly fewer horses, over two days instead of three."

"As a result we had good feedback from buyers about the quality and the format."

Yesterday’s clearance rate had risen to 85% by this afternoon and with post sales to come, the overall figure will probably reach a similar mark.

"Vendors did a great job meeting the market and there was good competition for their horses which resulted in an excellent clearance rate,” Webster said.

Red hot sire Fastnet Rock claimed the sale topper early in the day, with Kieran Moore bidding $250,000 for a bay colt from the Octagonal mare Sea Folly, a half-sister to the G1 CF Orr Stakes winner Special Dane.

The sale topper (pictured) was prepared by Widden Stud, who had previously sold current Group 1 star Whobegotyou at Classic.

"Classic has always been a type sale and it was good to have more yearlings with pedigree to back up their looks this year,” Webster said.

"The top price of $250,000 shows you can bring yearlings to this sale by the best stallions and get them sold for the right money.

"The buying bench that we had here and the excellent results will give vendors added confidence to bring better quality yearlings next year."

The Classic Sale provided a platform to launch the Racing Rewards Club, an initiative of Racing NSW for racehorse industry participants.

“We had a great response to the program with many buyers taking up the option to double or triple their points by nominating to the Inglis Race Series and taking up Inglis Insurance.”

More information can be found HERE.

Horses passed in during today’s session are available for sale via the Inglis Make an Offer service.

Attention now turns to the Melbourne Premier Yearling Sale which will be held at Oaklands over four sessions from March 1-4.

2010 Sydney Classic Yearling Sale Stats
Lots 1 – 522
Sold: 385, 83%
Passed In: 78, 17%
Withdrawn: 59
Gross Amount: $12,671,500
Highest (Lot 272): $250,000
Average: $32,913
Median: $25,000