News

Market Confidence Returns At Newmarket

6th Apr 2009

An air of confidence returned to the 2009 Inglis Australian Yearling Sale today, with 166 horses selling for a total of $45.28million, with the sale now boasting 17 yearlings to have made $700,000 or more.

Today’s average of $272,816 saw the sale total climb to $67,677,500 at an average of $253,474 and pleasingly, the clearance rate climbed significantly today to 79.8%.

“Clearly, vendors and buyers were finding their feet with the market yesterday, but there was much more confidence around the sales ground today and the market is now where we expected it to be pre-sale,” Inglis Managing Director Mark Webster said.

“To have a day of selling with a gross in excess of $45million and average better than $270,000 in this current climate is an outstanding result and even more pleasing is to see the clearance rate steadily climbing as the sale continues.

“Yesterday’s clearance rate of 68% had risen to 76% by late this afternoon and with a 81.5% clearance already today, I would expect the overall clearance to climb through the 80% mark by the close of the sale.

“It is still very much a buyers’ market though and those looking to secure a graduate of the southern hemisphere’s most prolific producer of stakes and Group 1 winners will find a host of outstanding yearlings on offer tomorrow.

“There has never been a better opportunity to buy an Easter yearling.”

The Sale continues from 11am tomorrow, with another 110 yearlings, before Easter Session II, which will commence after 2pm tomorrow.

“The bloodstock team have assembled some outstanding types for Session II and astute buyers are sure to find some very appealing yearlings later tomorrow,” he said.

Today’s second day was highlighted by another four yearlings that topped the million dollar mark, taking the sale total to six.

A new sale topping $1.8million Encosta De Lago-Show Dancing colt was secured by Dean Watt’s Dynamic Syndications from the draft of Emirates Park Stud.

Watt was able to see off the challenge of Coolmore’s Colm Santry, who was bidding on behalf of John Magnier.

“He had the wow factor. He is a cracking colt with a real presence about him. He just shone and he’s got a stallion’s pedigree,” Watt said.

Emirates Park’s Dr Sahu said: “I’m pretty happy he made $1.8m. I was expecting something around $1.5m. He has been a lovely horse, he has a great temperament and I tick all the boxes for him.”

James Bester went to $1.4million to secure the Redoute’s Choice-Winning Belle colt, which will be trained by Gai Waterhouse.

“He was the best mover in the sale bar none. He had an amazing action, huge overstep and he extended beautifully. His mum was outstanding and I thought he was the buy of the sale,” Bester said.

Other horses to top the million dollar mark today were Makybe’s Redoute’s Choice-Tugela colt, which fell to Patinack Farm for $1.2million, and the Redoute’s Choice-Slice Of Paradise colt, which went the way of Blue Sky Thoroughbreds.

Darley and Patinack lead the way among the buyers, having secured 11 and 12 yearlings for $5.12million and $4.815million respectively.

Buyers are reminded of the Inglis Make an Offer service for horses passed in through the ring over the past two days.

Session 1, Day 2 Lots 152 - 390
Catalogued 239 Sold 166 (81%) Passed In 40 (19%) Gross Amount $45,287,500 Average $272,816 Withdrawn 32 Median $210,000 Highest (Lot 231) $1,800,000