News

Premier Session I Concludes

3rd Mar 2009

A high number of private sales and an improved clearance rate highlighted the final day of Session I at the 2009 Inglis Premier Yearling Sale at Oaklands today, which concluded with a decline in line with all other sales conducted in the southern hemisphere this year.

Overall, 413 yearlings have been sold over the last three days for a gross of $23.05million at an average of $55,815, with a strong international and domestic buying bench active throughout the sale.

“The breadth of the buying bench was a feature of this sale, with buyers coming from all over Australia and internationally from major centres like Hong Kong, Singapore, Japan, New Zealand and South Africa,” Inglis Managing Director Mark Webster said.

“All of the same buyers from previous years were here, but it’s clear they have reduced budgets under the current economic conditions and nobody is immune from what is happening in the world at the moment.

“The results for this sale are consistent with other sales from Australia and New Zealand this year.”

The highest priced lot today was $280,000 for Torryburn Stud’s More Than Ready-Illuminar colt, which was knocked down to Inglis as agent. Yesterday’s Redoute’s Choice-Celtic Reign colt, which sold for $365,000, remained the sale topping lot.

Private sales will continue to boost the final clearance figure of 73% over the next few days.

The Day 1 clearance was up 4% by this afternoon and yesterday’s clearance had already climbed to 78% as a number of horses continued to be sold post sale and via the Inglis Make An Offer service.

“A lot of private sales have already been done and that is simply a guide to the re-adjustment that is happening in the market,” Webster said.

“Post sale, vendors are accepting this re-adjustment phase and the fact buyers can now be more selective about how much they are willing to spend.

“All horses passed in over the last three days will still be available for private sale for the next 30 days and I am sure we will see many more horses traded in that period.”

The strong competition on the higher priced lots continued throughout today’s session, with the total number of horses to make $100,000 or more now numbering 60, including 25 that topped the $150,000 mark.

Following on from their strong support of the Classic Sale, Patinack Farm were the leading Buyers during Premier I, finishing with 17 yearlings for a total spend of $1.5million.

Victorian trainers Robbie Griffiths (10 for $727,500) and Mick Price (7 for $725,000) were also very active, as was Newcastle’s Paul Perry (8 for $652,500).

Tony Santic’s Makybe had a strong sale, topping the vendors by aggregate with 15 sold for $1.425million, including the sale topping colt.

Yallambee Stud (19 for $1.3million), Blue Gum Farm (15 for $1.147million) and Three Bridges Thoroughbreds (11 for $1.06million) also topped the $1million mark during the sale.

Ultra Thoroughbreds were the leading vendor by average (for 3 or more sold), with eight yearlings selling at an average of $102,812. South Australia's Mill Park sold six at $102,500.

Elvstroem was the leading sire by aggregate, with 27 selling for $1.243million. Exceed And Excel, Reset, God’s Own, Testa Rossa and Stratum also grossed more than $1m in Session I.

Vinery’s More Than Ready was the leading sire by average (for 3 or more sold), with three selling at $163,333.

Click Here for full sale statistics.

To view passed in lots that are available via the Make an Offer Service (from both Premier and Classic), click HERE

Session II of the 2009 Premier Sale begins tomorrow from 11am with another 167 yearlings catalogued.

Buyers not in attendance at Oaklands can use the Inglis Online Bidding Service and watch via the Sale Day Live stream.

Statistics: Session 1

Catalogued: 613

Sold: 413 (73.23%)

Passed In: 151

Withdrawn: 49

Gross Amount: $23,051,772

Average: $55,815

Top Lot: (Lot 283) $365,000

Median: $45,000