The Arqana Deauville yearling sale ended its four-session run in France Aug. 21 with a 2.2% increase in average price from a year ago. The gross revenue declined 9.6% and the median price remained the same.
"Given the current economic climate, the overall result has to be considered a good performance," said Arqana chairman Eric Hoyeau. "Yearlings meeting the exacting criteria shown by buyers proved the object of fierce competition from the beginning to the end of the sale. In contrast, the middle market suffered from an increased selectivity."
A positive, according to Hoyeau, was "the great diversity of buyers and the presence of new faces throughout the four days of the sale."
The results included a gross of €28,439,000 ($35,078,900 in U.S. funds) for the 290 yearlings that were sold. The average was €98,066 ($120,962) and the median was €65,000 ($80,176).
The clearance rate declined to 65.9% from 74.9% in 2011.
A daughter of Dubawi brought €200,000 ($246,696) to top the final session. Angus Gold, representing Sheikh Hamdan's Shadwell France, bought the gray yearling from Haras du Quesnay. Gold won a bidding battle with Chantilly-based trainer John Hammond.
Bred in Great Britain by Haras de Manneville, the filly is the first foal out of the winning Vindication mare Symba's Dream, who finished third in the 2009 Derby du Languedoc in France. Symba's Dream is a half sister to Heritage of Gold (by Gold Legend), who captured the Apple Blossom (gr. I) and Go for Wand (gr. I) handicaps in 2000. Symba's Dream also is a half sister to another stakes winner, Golden Oldie(by Gold Legend).
During the fourth session, 72 yearlings were sold for a gross of €3,549,000 ($4,377,620). The average was €49,292 ($60,801) and the median was €40,000 ($49,339). The clearance rate was 62.6%.