The 2011 Arqana August yearling sale, which had a new format, bounced back in style during its four-session run in Deauville, France, following a below-par 2010 renewal.
The gross for the auction, which ended Aug. 25, was €31,463,000 ($45,385,700 in U.S. funds), up 17% from last year. The average price rose, too, reaching €95,924 ($138,371) compared with €94,500 in 2010.
The clearance rate was 74.9%, an increase from 67.6%. The median for the 328 horses sold was €65,000 ($93,763). In addition, 23 yearlings were sold privately for a gross of €1,478,000 ($2,132,030).
“In the current environment, and with the major investments we had undertaken, both through the new sale pavilion and to attract new buyers, the result of this four-]day sale is highly satisfactory,” Arqana president Eric Hoyeau said. “The increase in the number of horses sold (clearance rate) is very significant and reflects a strong, healthy market.
"The great diversity of buyers, both from France and abroad, is a positive sign of the French racing system’s performance and international appeal. Finally, the new sale complex received the thumbs-up from all involved and allowed for a warm, welcoming atmosphere as well as optimum comfort, even though a bit of fine-tuning still needs to be done.”