Goffs' Sale Posts Declines
Updated: Friday, February 15, 2008 10:15 AM
Posted: Friday, February 15, 2008 8:28 AM
The 2008 Goffs’ February Sale concluded Thursday with steep declines in total and average prices when compared with the same sale in 2007.
The sales company reported 371 horses sold for a total 4,559,800 euros, down markedly on the 2007 turnover of 12,035,100 euros when 652 changed hands. The average was 12,291 euros, down 61% on 2006, and the clearance rate was 52.8%.
"Trade this week reflected the increasingly polarized market that was evident in the latter part of 2007 - plenty of demand at the top and upper middle levels but the bottom end struggled,” said Goffs CEO Henry Beeby. “We were particularly pleased with the number of overseas buyers present throughout the week, and Goffs will continue to explore any and all foreign markets in our efforts to sell every lot that comes under our hammer.
He noted that last year’s sale was somewhat of an anomaly due to the presence of horses from Moyglare farm and that this year’s figures, with the exception of the turnover rate, were in line with those from 2006.
"In fact, last year was a slight flash in the pan and the average and median figures are on a par with 2006 although the clearance rate has dropped which clearly reflects the issues facing the industry at present,” Beeby said. “So all things considered, this week’s sale has continued to build on the growth achieved with our February Sale in recent years. Indeed, it should be remembered that this sale was only a two-day, 500 lot sale as recently as 2001 and it has grown faster than any comparable European alternative."
Thursday’s trade was topped by a pair if purchases made by BBA Ireland. The 10-year-old mare First Breeze, offered in foal to Araafa, changed hands for 120,000 euros and 10-year-old Flying Millie, covered by Refuse To Bend, made 115,000 euros.
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