Gross, Average Rise in Australian Sale

Melbourne autumn yearling auction has an 89% clearance rate.

(Edited William Inglis & Son press release)

The gross revenue rose 31.4% from a year ago to Aust$2,610,750 (approximately $1,889,661 in U.S. funds) during the William Inglis & Son Melbourne autumn yearling sale, which ended its two-day run April 27 in Australia. The average price for the 262 horses that sold was Aust$9,965 ($7,213), up 14%, and the median price was Aust$7,500 ($5,429). The clearance rate was 89%.

A Bianconi – From the Palace colt sold for Aust$62,000 ($44,876) during the final session to top the auction. Tony Seymour of Tasmania purchased the yearling from Riverina Downs. The colt won the Inglis Insurance Best Presented Yearling Award at the sale.

"It is quite staggering to think that in this economic climate we could have a day's selling where we cleared 94% of the horses (during the second session), which is almost unprecedented for a yearling sale," said Inglis director Peter Heagney. "As we said yesterday, this sale has totally defied the global bloodstock trends of the present time. It was very pleasing to see those vendors who presented well-prepared yearlings rewarded for their efforts, with strong competition across the entirety of the sale.

"This sale reflects the confidence buyers have in the Victorian racing industry. There was a wide and diverse buying bench, and I would think the results here augur well for the upcoming Scone sale, because quite a number of buyers still have orders to fill."