Third Successive Fall for Tattersalls

The Tattersalls Ireland September Yearling Sale failed for the third successive day to match up to the record figures achieved in 2006.
 
The Sept. 6 session saw the joint second-highest price of the sale, 110,000 euros ($149,761), paid for a Danetime colt by pinhooker Willie Brown. But otherwise the clearance rate fell ,as did the average, median and aggregate.
 
The percentage decreases were not as extreme as the previous day, but the result was disappointing final figures for the three-day sale.
 
Of the 211 cataloged (190 in 2006) on Sept. 6, 189 were offered (167) and 141 (128) sold at a clearance rate of 75% (77%). The aggregate dropped by 8% to 1,792,700 euros ($2,440,689) (1,942,000 euros), while the average on the day fell by 16% to 12,714 euros ($17,309) (15,172 euros) and the median decreased by 18% to 9,000 euros ($12,253) (11,000 euros).
 
Overall, there were 706 cataloged (644) with 640 offered (583) and 474 (480) selling at clearance percentage of 74 (82) for 8,998,400 euros ($12,250,962) (minus 16% on the 2006 total of 10,708,800 euros) at an average of 18,984 euros ($25,846) (a fall of 15% on the 2006 figure of 22,310 euros) and a median of 13,000 euros ($17,699) (a drop of 19% on 2006's 16,000 euros).
 
Tattersalls Ireland’s new managing director George Mernagh put a brave face on the situation: "The difference in the trading between yesterday and today is that it has noticeably improved and we can only put this down to a better type of yearling, judging by comments from both vendors and purchasers.
 
"It really does underline the fact that there is plenty of demand for athletes but that with the number of yearlings around, buyers are less willing to take a chance on horses falling short on conformation or pedigree. It wouldn’t be beneficial to point any fingers at this stage for the reasons why, but I do think there are a number of contributing factors.
 
"There were plenty of buyers here, from Italy in particular, as well as Spain and Greece, and also a large number of purchasers from England who as a group bought nearly half the horses sold.
 
"It is the first time in many years that this sale has not shown an increase on the previous year, which of course is disappointing to us, as we would have like to maintained this growth.
 
"However, it is worth bearing in mind that last year’s sale was a bumper year and our figures this year are still very favorable when compared to 2005.
 
"I will be reviewing the sale’s format internally and within the industry. We will also have to see how it falls within the context of the rest of the yearling sales this autumn and what market trends develop."