(Edited William Inglis & Son press release)
Eight horses sold for Aust$100,000 (approximately $67,512 in U.S. funds) or more Feb. 9 during the second session of William Inglis & Son’s Sydney Classic yearling sale in Australia. Through the first two sessions, the gross revenue is Aust$7,153,500 ($4,829,471) for the 250 horses sold. The average price, Aust$28,614 ($19,318), is down only 10% from a year ago. The median price is Aust$20,000 ($13,502).
Nathan Tinkler’s Patinack Farm bought the most expensive yearling sold during the session, a General Nediym filly out of group III winner Nancy Eleanor, for Aust$220,000 ($148,526) from Kitchwin Hills. The yearling is a half-sister to Phelan Ready.
“It is very pleasing to see the average only down 10% from last year’s figures, which underlines the strength of the buying bench for the more sought after horses,” said Inglis managing director Mark Webster. “But it was harder going at the bottom end of the market today, which is clearly more evident throughout the marketplace this year more so than ever, given the current economic climate and the sheer volume of yearlings in the marketplace.”