Australian Easter Sale Suffers Setbacks

Gross, average price, and median price all are down from last year.

The William Inglis & Son Easter yearling sale ended its three-day run in Australia April 8 with downturns of 10.4% in gross revenue, 8.5% in average price, and 11.1% in median price from last year. The buy-back rate was 20.2%, up from 16% in 2009.

“Overall we are down 8.5% (in average) on last year and while it’s not what we might have hoped for, it’s not too bad given we still had an average topping Aust$220,000 ($203,947 in U.S. funds),” said Inglis managing director Mark Webster. “It’s a sale where you could say buyers won on some lots and vendors won on others, so I think it’s been a fair sale in that regard.

“It’s a totally different mix in terms of the buyer lineup for this sale than we had two years ago. Our leading buyer this year spent Aust$4 million ($3,708,130), but in 2008 we had two buyers spend Aust$40 million between them.

“I think it is a challenge for not just Inglis as a sales company, but for the industry as a whole to find new buyers who are prepared to buy at the top end of the market.”

The gross for the 364 horses that sold was Aust$80,435,000 ($75,565,900). The average was Aust$220,975 ($204,851), and the median was Aust$160,000 ($148,325). In 2009, 372 yearlings were sold during the auction.

The most expensive horse sold on the sale’s third day was a Zabeel filly that brought Aust$1.3 million ($1,205,140). Lakeview Resources purchased her from Rich Hill Thoroughbreds.

Produced from the unraced Defensive Play mare Gin Player, the bay filly is a half-sister to 2008 A.V. Hennings Urban Pacific South Australian Derby (Aust-I) and Schweppes Oaks (Aust-I) winner Zarita (by Pentire). She also is a half-sister to 2005 New Zealand group II winner Run Like The Wind (by Pins) and 2009 Hong Kong group III winner and 2010 United Arab Emirates group III winner Joy and Fun (by Cullen).

The auction’s results for the final day included a gross of Aust$16,875,000 ($15,643,700) for the 70 yearlings that sold. The average was Aust$241,071 ($223,481), and the median was Aust$200,000 ($185,407). The buy-back rate was 24.7%.

The sale’s top-priced horse was a Redoute's Choice – Regrowth colt that sold for Aust$1,875,000 ($1,738,140) on the opening day.

Also, on April 8, Session II of the Easter yearling sale was held. The 76 horses that sold grossed Aust$5,924,000 ($5,491,740) and averaged Aust$77,947 ($72,259). The median was Aust$60,000 ($55,622). Compared to 2009, the gross rose 14.1% and the average increased 18.6%. The median was the same. The number of yearlings sold last year was 79.

The buy-back rate was 28.3%, up from 14.1% last year.

The top-priced horse was a Fastnet Rock – Margarine colt that brought Aust$240,000 ($222,488). Inglis reported that G. Ryan purchased the yearling from Yarraman Park Stud.