News

Market Continues to Build in Melbourne

2nd Mar 2010

Led by an improved clearance rate, the 2010 Melbourne Premier Sale continued to evolve at a rapid rate, with two $400,000 Redoute’s Choice yearlings highlighting another strong session of trading today.

Gross receipts topped $10million today, as another 132 yearlings sold at an average of $78,924.

It brought the sale total to just short of $20million at an average of $74,019.

The progressive average is now 35% higher than the figure achieved 12 months ago.

The clearance rate had reached 79% by this afternoon, helped by a number of horses passed in yesterday selling today.

“While the results are a positive reflection on the state of the market, they are also a glowing endorsement for the growth and internationalisation of the Melbourne Premier Sale,” Inglis Managing Director Mark Webster said.

No less than eight yearlings topped the $200,000 mark today, with Encosta De Lago, Fastnet Rock, Choisir and Flying Spur contributing to that tally.

Bellerive Stud’s Redoute’s Choice filly from the New Zealand Group 2 winner Maze was the early pacesetter today, knocked down to Bill Mitchell (pictured with the filly) for $400,000.

That figure was matched when Dean Hawthorne secured Arrowfield’s Redoute’s Choice colt from the US-bred mare Oceanette.

Late in the session, Torryburn Stud’s Choisir three-quarter-sister to Chance Bye fetched $200,000 to the bid of McDonald Racing.

The Sale continues from 11am tomorrow and will be broadcast on Inglis Sale Day Live with Online Bidding in operation throughout the day.

Buyers are reminded that video footage and photos of yearlings are available HERE

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

Statistics: Day 2

Sold: 132 (78%)

Gross: $10,418,000

Average: $78,924

Highest Lot: (Lots 254 & 300) $400,000

Overall Sale Statistics

Sold: 267 (79%)

Passed In: 73 (21%)

Gross: $19,763,000

Average: $74,019

Median: $60,000

Highest Lot: (Lots 254 & 300) $400,000