Edited Inglis report
The 2009 Inglis Australian Easter Yearling Sale concluded April 7 with another two yearlings topping the Aus$1-million mark at Newmarket.
Boosted by post sale transactions, the clearance rate rose above the 83% mark near the end of the sale, as the sale gross reached Aus$89 million at an average of $241,355.
“Everyone knew the sale would be down and we have seen the market fall to somewhere between 2005 and 2006 levels,” Inglis managing director Mark Webster said. “With Easter being the southern hemisphere’s most prestigious sale, the figures stack up extremely well when compared to the major Northern Hemisphere sales last year, which lost considerably more ground, not to mention the significantly greater hit endured by stock market investors around the globe.
“It was clear during the opening day that vendors and buyers were feeling their way, but it has been most pleasing to see confidence grow over the final two days, as indicated by the clearance rate continuing to climb,” Webster continued. “With our post sale ‘make an offer’ service, the current figure will continue to improve over the next few days and I consider the results achieved over the past three days to be as good as we could have hoped for in the current circumstances.”
Sheikh Mohammed’s Darley continued its outstanding support of the sale, securing the day’s top priced lot -- a Redoute’s Choice filly from Canterbury Guineas (Aus-I) winner Fine Society to top the buying list with 15 yearlings for a total spend of $7.185 million.
Representative John Ferguson felt the sale held up very well given the current climate.
“I went to the American sale in September and the European sale in October and this sale has held up much better,” he said. “People here might feel like it is a steep fall, but in comparison to other markets, it is not too bad and it will rebound faster here because racing here is great and prize money is better than many other places.”
Nathan Tinkler’s Patinack Farm was also strong throughout the sale, signing for 17 yearlings for $5.915 million.
Shadwell Australia (13 for $4.265 million), Anthony Cummings (12 for $3.54 million) and James Bester (7 for $3.445 million) were the other buyers to top the $3 million mark.
The April 7 other million dollar lot, an Encosta De Lago filly from multi million dollar earner Fine Society (Danewin), fell to Mark Pilkington for $1 million.
Both of the seven figure yearlings were offered by Brooklyn Lodge.
“They were two beautifully-bred blue-chip fillies and it's a great result,” Brooklyn Lodge's Mike Fleming said. “We had never sold a million dollar yearling until today, so it's a nice thrill to see these two fillies make that kind of money.”
In all, eight horses sold for $1 million or more this week and 32 made $500,000 or more.
“This session has once again exceeded our expectations and we are thrilled with those figures,” Webster said. “It shows the new structure is working really well and it gives buyers who may have missed out earlier another chance to not leave empty handed.”
Redoute’s Choice finished the sale as the leading stallion by both gross and average, with 50 selling for $24,215,000 at an average of $484,300