A record average price reflected a strong market for weanlings at the Inglis Great Southern Sale in Melbourne, Australia, June 22-23.
There were 224 weanlings sold at an average of $14,504 ($13,660 in United States funds), a 44% increase from last year and 61% higher than the average in 2012. Total receipts of $3,249,000 ($3,059,660) were up 52% from 2013. The median grew 20% to $6,000 ($5,650).
The highest-priced weanling was a colt from the first crop of Fastnet Rock
's group I-winning son Foxwedge
who sold June 22 for $175,000 ($164,824). Accordidng to the sales company, an unnamed but longtime Inglis client from Queensland purchased the colt, who is the fifth foal out of the winning Fantastic Light mare Ekleel, a half sister to United Arab Emirates group II winner Mushreq
. Consigned by Donnybrook Estates, the youngster is from the family of Australian group I winner and prominent sire Snippets
Foxwedge is based at Newgate Farm in the Hunter Valley of New South Wales and shuttles to Whitsbury Manor Stud in Great Britain for the Northern Hemisphere season.
"To have a record average, an increase of 44% on last year with an 88% clearance (rate) is obviously very satisfying for us," said Inglis director Peter Heagney. "Importantly, it reflects the confidence in the market and with so many pinhookers buying, augers well for the 2015 yearling sales.
"We had a strong, diverse buying bench who were very competitive on the better lots which should encourage an even stronger catalog next year."
A pair of weanling colts from the first crop of group I winner Helmet, a son of Exceed And Excel, provided the top prices June 23. Basinghall Farm's colt out of the winning Jeune mare Take All of Me sold to Inglis, agent, for $100,000 ($94,181), and Yarran's colt from the unraced Nashwan mare Umoya sold for $90,000 ($84,762) to Bruce and Maureen Harvey's New Zealand-based Ascot Farm.
Following Tuesday's foal session, 108 broodmares were sold at a clearance rate of 81%.
The top-priced horse was Glentree Thoroughbreds' Mamahuhu, a daughter of Flying Spur
offered in foal to Charge Forward
and sold to Tristarc Bloodstock for $100,000 ($94,181).
The sale's final day June 24 will see broodmares, stallions, yearlings, unbroken stock, racing stock and supplementary entries offered.