Deauville Yearling Sale Suffers Setbacks

The average price falls 17.2%, but the median is down only 2.8%.

Arqana’s Deauville yearling sale ended Aug. 16 in France with downturns in the gross revenue, average price, and median price.

The 289 horses that were sold during the four sessions grossed €27,208,000 ($34,690,500 in U.S. funds) and averaged €94,145 ($120,036). The median was €70,000 ($89,251), and the clearance rate was 68.8%. Compared to last year, the gross fell 29.8% while the average dropped 17.2%. The median was down only 2.8%. The 2009 clearance rate was 74.3%.

Thirty one additional horses were sold privately in 2010 for a gross of €2,151,000 ($2,742,550), bringing the totals for the auction to 320 sold and a gross of €29,359,500 ($37,433,700). Last year, the comparable figures were 376 sold and a gross of €40,991,500.

“The top tier of the market has suffered the most, through the combined effects of a drop in the amounts that buyers are willing to spend on top class yearlings and reduced competition at the highest level resulting from the absence of several leading players,” said Arqana president Eric Hoyeau. “However, the core market has remained very solid, with genuine depth up to €400,000 ($510,004) as we saw on the second day of the sale. The lower end of the market did OK, but proved very selective, with buyers preferring to go home empty-handed rather than purchase a horse that didn’t tick all the boxes.”

An Elusive City – Bonne Mere filly, consigned by Eric Lhermite’s Haras de Grandcamp, commanded the final session’s top price of €190,000 ($242,252). She was purchased by Sir Robert Ogden.