Market Steady at Newmarket

6th Apr 2010

Opening day figures were slightly up on the corresponding session from 12 months ago during the opening day of the 2010 Inglis Australian Easter Yearling Sale as Segenhoe Stud took the day’s honours of top lot.

The average price of $233,182 was up 7% on Day 1 in 2009 as more than $30million was traded on 132 horses today. The clearance rate of 72% late this afternoon was similar to what was recorded last year, with expectation that post-sale purchases will help push the figure to last year’s mark of 79%.

The highest price of the day came for Segenhoe’s Redoute’s Choice colt from the Unbridled’s Song mare Regrowth, which sold to Kitchwin Hills for $1.875million.

Segenhoe Stud’s Michael Sissian said he regarded this colt as the best he has ever offered for sale and this represents a record price for the stud, eclipsing the previous mark of $1.6million.

“He has magnificent presence, a wonderful temperament, terrific action and his physical confirmation is faultless,” Sissian said of the colt.

“A lot of the good judges on the ground tell me he is as close to the faultless yearling as they have seen for many years.”

The colt is a fourth generation product for Sissian and Segenhoe.

“I bred Regrowth, True Blonde (grand dam) and owned Easy Date (great grand dam). That has been my major family for 20 years and it is terrific,” he said.

Kitchwin Hills’ Graeme Brown said the colt was a perfect fit for the direction the stud is heading with its stallions, following the success of Dane Shadow and recent acquisition of Group 1 winner Duporth.

“This is our biggest go. We’re getting a position in the marketplace and this horse fits in well with our situation,” Brown said. “He is a cracking sort and we’re happy to be a part of it.”

Earlier, Makybe Diva’s Fusaichi Pegasus filly sold to Mark Kavanagh for $1.2million, with the Melbourne Cup winning trainer declaring he was “excited” to have bought into the family of a legend of the turf.

The top priced pair led a total of 13 horses to sell for $500,000 or more during the session.

Inglis Managing Director Mark Webster described the opening session as “solid enough”.

“Any horse sale that averages $230,000 is a very good result,” Webster said.

“It’s hard to expect this sale to make the same gains as some others have this year, because Easter is coming off a much higher base, so it’s hard to get the same kind of lift.

“Obviously we would like to see the clearance rate improve and history says that is likely to be the case as we go on this week. It will just take vendors a little time to adjust.

“The main message is that these are the best yearlings in the southern hemisphere and buyers are in pole position to take advantage of what our vendors have to offer over the remaining two days.”

Hawkes Racing led the buying bench today, securing four yearlings for $2.36million, headed by the Encosta De Lago-Shania Dane colt.

Coolmore Stud was the leading vendor by aggregate during the first session, while Makybe topped the averages (3 or more sold) from Segenhoe and Willow Park.

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

The sale continues from 11am tomorrow.

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