News

Strong Finale to Easter Yearling Sale

8th Apr 2010

Highlighted by the $1.3M sale of Rich Hill’s Zabeel filly and more strong demand for Session II lots, the 2010 Inglis Australian Easter Yearling Sale concluded in Sydney today.

The Zabeel-Gin Player filly (pictured) brought to four the number of seven figure yearlings sold over the past three days, with Segenhoe Stud’s Redoute’s Choice-Regrowth colt the $1.875million sale topper.

Earlier today, a Fastnet Rock colt from the US-bred Forest Wildcat mare Forest Native, was sold by Luskin Park Stud to De Burgh Equine for $925,000.

The sale gross for Session I cracked the $80million mark late this afternoon, with the clearance rate also reaching 80%. Day One clearance snow sits at 83 per cent, up from 72 percent at the session close.

Today's session Of Easter 1 averaged $241,000 with a healthy median of $200,000.

“ Overall we are down 8% on last year and while it’s not what we might have hoped for, it’s not too bad given we still had an average topping $220,000,” Inglis Managing Director Mark Webster said.

“It’s a sale where you could say buyers won on some lots and vendors won on others, so I think it’s been a fair sale in that regard.

“It’s a totally different mix in terms of the buyer line up for this sale than we had two years ago. Our leading buyer this year spent $4million, but in 2008 we had two buyers spend $40million between them.

“I think it is a challenge for not just Inglis as a sales company, but for the industry as a whole to find new buyers who are prepared to buy at the top end of the market.”

Thanks to fillies like VRC Oaks winner Faint Perfume, Easter Session II has quickly garnered a reputation for being a wonderful opportunity to secure high class racehorses at value for money prices.

Buyers once again embraced the concept today, with both the sale gross of $5.924million up 15% on last year and the $77,947 average climbing 18.5% on 2009 figures.

“One positive is the diversity of the buyers and strength of the middle market, which is highlighted by strong sales in the $150,000 to $300,000 bracket and the strength of Session II,” Webster said.

“For Easter II to be up almost 20% on last year is an excellent result and it’s pleasing to see how quickly this new part of the sale has established itself in the marketplace.”

Horses passed in during the sale are still available for sale via the Inglis Make an Offer service.

Attention now turns to next week’s Australian Easter Broodmare Sale which begins Tuesday, April 13 and runs through Wednesday, Thursday and Friday.