News

Quick Questions - Mark Webster

13th Dec 2010

Stallions - Graeme Kelly - Friday, 10 December 2010

Over the last few years Mark Webster has become a leading and highly respected identity in the thoroughbred industry in his role as managing director of the Inglis sales company. During that time Mark has become renowned for his astute assessment of the market as well as his innovative style.

Stallions, Graeme Kelly, spoke with him and asked him to reflect on the 2010 sales year, his outlook for the future, the prospects for the development of racing in China and other matters.

Q.: How would assess 2010 from a horse sales perspective

A.: It was a positive year, with good improvement in prices for yearlings in the middle market and continuing strong demand for nicer weanlings and well-bred and performed mares. The only area under pressure was at the top end of the yearling market, with yearlings being offered that were mated towards the top of the stallion service fees in 2007

Q.: What were the highlights of the year

A.: The continued growth of the Melbourne Premier Yearling Sale and the return of the Easter Broodmare Sale as the pre-eminent breeding stock sale in the southern hemisphere were stand outs from an auction perspective. From a racetrack perspective, Australia achieving the title for the top three sprinters in the world (Black Caviar, Starspangledbanner and Sacred Kingdom), all of which were sold by Inglis and the Premier sale.

Q.: Are there any major concerns coming out of the year

A.: Yes, the top of the yearling market is still a little soft and we all need to work together as an industry to find buyers for this end of the market

Q.: How did the Australian market compare with those overseas

A.: Australia held up very well with much better clearance rates across yearling sales and breeding stock sales than were achieved in the northern hemisphere

Q.: Your excursions into China must have been interesting. Were you impressed with the facilities

A.: It was very interesting. I have visited China several times now and it is pleasing to see the growing interest in horses of all kinds, not just thoroughbreds. The facilities at Wuhan Racecourse are impressive, especially the grandstand which is modelled on Shatin in Hong Kong. The Chinese people are learning and still have a long way to go, but there are a number of wealthy owners leading the way

Q.: What is the general feeling about the future of racing in China

A.: I think racing will continue to grow slowly, but steadily over the next three years or so, with most of the racing being conducted by private clubs with the focus being on the prestige of winning as prize money is still poor

Q.: Is any form of gambling permitted in China

A.: No, gambling is illegal. When last in Wuhan those attending the races were able to play a game called “Spot the winner”. Each person was given a card on entry and could try and pick the winner of each race for free. The winners received prizes from sponsors, such as travel passes and gift cards

Q.: Are you anticipating increased participation from China at next year’s sales

A.: Yes, we are definitely expecting increased numbers of buyers at our yearling sales in 2011. The two-year-old feature race held in Wuhan in October was dominated by to Easter sale graduates, scoring one-two at least eight lengths ahead of the local babies. As they are racing primarily for prestige, I am sure the will-to-win will bring Chinese buyers down to Australia

Q.: Are you confident about the 2011 Inglis sales series

A.: Yes, we have a wonderful line-up of yearlings for our three major sales and are expecting local and Asian buyers to continue to invest. Vendors will need to be cautious and sensible in setting reserves for yearlings at the top of the market as recovery at this end will take longer than in the middle market

Q.: Do you expect the increased value of the Australia dollar to have an impact

A.: It will have some impact, but with the Australian-bred product performing so well it should not put off too many buyers

Q.: Where will Inglis concentrate its 2011 marketing strategy

A.: Our target will be chasing genuine buyers to attend our sales . . . from around Australia, Asia, New Zealand and South Africa basically

Q.: Are you still able to find time for your horse activities

A.: Fortunately I am still able to ride most weekends and I am enjoying my volunteer work as president of the Sydney Quarter Horse Association. My whole family still compete in western riding events and people are welcome to join us.