Average Grows in First Part of Easter Sale

The median for yearlings also increases during the three-day run in Australia.

The William Inglis & Son Easter yearling sale’s first session ended its three-day run April 7 in Australia with an average price of Aust$239,484 ($248,642 in U.S. funds) that was up 8.6% from a year ago. The median price of Aust$180,000 ($186,883) represented a 12.5% increase.

The total for the number of horses sold was 310, which was down 15.3%. But the gross fell only 8% to Aust$74,240,000 ($77,078,900). The clearance rate was 80.9% compared to 80.3% in 2010.
The most expensive yearling on the final day of the first session was a Redoute’s Choice – Park Esteem colt that brought Aust$850,000 ($882,504). Peter Moody of Moody Racing purchased him from Cressfield.

The final day’s results included a gross of Aust$5,843,364 ($6,066,810) for the 45 horses that were sold. The average was Aust$261,222 ($271,211), and the median was Aust$180,000 ($186,883). The clearance rate was 84.9%.

Also on April 7, Inglis conducted the second session of the Easter auction. The 76 yearlings that were sold grossed Aust$5,843,364 ($6,066,810) and averaged Aust$76,886 ($79,826). The median was Aust$60,000 ($62,294). The clearance rate was 77.6%.

A Street Sense – Desert Ibis colt set a second session record when he commanded Aust$320,000 ($332,237). Tony Bott purchased the yearling from Goodwood Farm. The previous mark of Aust$275,000 had been established in 2008.

International buyers played an important role in both the first and second sessions of the Easter sale, with shoppers from Ireland, the United Kingdom, France, New Zealand, Japan, Hong Kong, Singapore, and Macau all appearing on the results sheets.

“One of the most pleasing aspects was the depth of the buying bench,” said Inglis managing director Mark Webster. “We are not relying on one or two major buyers to boost the figures, and it was pleasing to see so many different names among the top buyers this year. In particular, we have had very good overseas representation over the past three days.

“Similarly, the broad strength of the stallions also has to be viewed as a positive sign for the industry,” he continued. “While Redoute’s Choice and Encosta De Lago are still the benchmarks, others like Fastnet Rock and More Than Ready have also emerged, along with exciting new stallions like Street Sense and Bernardini, providing top-end buyers with more options.”