The three-day first session of the Inglis Easter yearling sale concluded April 11 with healthy increases in the three primary market indicators, boosted by nine horses sold for seven figures. They were led by an Australasian record-smashing Redoute's Choice half brother to Black Caviar for $5 million (US$5,238,006).
Another Redoute's Choice colt came close to breaking the million dollar mark on closing day, selling for $900,000 (US$950,165 U.S.) to James Harron Bloodstock. Overall, 290 horses sold at the first session for an aggregate $84,444,090 (US$89.15 million), up 15.8% from last year when 331 horses sold.
The average price grew 32.1% to $291,187 (US$307,414) and median rose 25% to $200,000 (US$211,114). The clearance rate was 78%, compared with 83.2% in 2012.
"The fantastic results recorded are a clear endorsement of the strength in both the local industry and the respect that the international community has for our product," Inglis Managing Director Mark Webster said.
The record-priced half brother to undefeated Black Caviar was offered by Three Bridges Thoroughbreds on behalf of breeder Rick Jamieson’s Gilgai Farm. The colt out of the Desert Sun mare Helsinge was bought by Melbourne-based bloodstock company BC3 Thoroughbreds. He was one of four seven-figure horses sold opening day. Five sold for a million dollars or more on day two.
Topping trading on day three, the Redoute's Choice colt is the second foal out of Australian group II winner Vormista, by Testa Rossa. He was offered by Kitchwin Hills, agent.
Several hips later, Shadwell Stud's racing manager Angus Gold bought a Redoute's Choice colt, the first foal out of Australian multiple group winner Zarzuela, by Zabeel, for $720,000. The colt was offered by Willow Park Stud.
Shadwell led all session-one buyers, with 21 yearlings for $8,270,000 (US$8,731,579).
"There are more international buyers here than I have ever seen," Gold told the Sydney Morning Herald, when asked to sum up the Easter sale.
A newcomer to the sale was China's Teo Ah Khing, who teamed with Coolmore and Queen Elizabeth II's racing manager and bloodstock adviser John Warren to buy a pair of Fastnet Rock yearlings for a combined $3,900,000 (US$4,118,544) for China Horse Club.
Teo, of Malaysia-based TAK Design, and the Meydan Group of Dubai joined to form the International Equine Group for the Tianjin Equine Culture City project to develop China's horse industry.
Offspring of leading sires Redoute's Choice, based at Arrowfield Stud, and Fastnet Rock, who stands at Coolmore Australia, were in high demand as 65 yearlings by the pair accounted for a combined $38,990,000 (US$41,165,998) in sales at the first session.
Coolmore Stud finished as the top consignor by aggregate at the first session with 33 yearlings for $9,645,000 (US$10,180,915).
The final day of the Easter sale also included a second session, topped by a Street Cry colt sold for $380,000 (US$401,469), a session two record price.
With the session growing in its popularity with buyers, 74 yearlings sold at an average of $87,189 ($92,125) and median of $72,000, up 18.3% and 31%, respectively. Total receipts of $6,452,000 (US$6,816,479), were nearly static, showing only 0.4% decline.
Twenty-seven yearlings of the 121 horses offered session two were sold for $100,000 ($105,575) or more, compared with 20 last year.
Mark Kavanagh bought the session-topping colt, who is by Darley's Central Kentucky-based Street Cry out of the winning Carnegie mare Fashionable Lass. The bay colt was consigned by New Zealand's Haunui Farm, agent.