Easter Sale Gets Off to Fast Start
by Ric Chapman
Date Posted: 4/20/2008 11:58:03 AM
Last Updated: 4/21/2008 3:07:26 PM

Sunday’s opening session of the revamped Inglis national Easter yearling sale got off to an absolute flyer in Australia, with vendors reaping the rewards. It was the best start in the auction’s history.

Ninety-four of the 120 catalogued horses sold, grossing Aust$32,305,000 (approximately $30 million in U.S. funds) and averaging Aust$343,670, which was well up on last year’s overall sale figure average of Aust$331,935. The median price was Aust$275,000.

Three yearlings sold for Aust$1 million or more.

“The diversity in the buying bench was one of the most pleasing aspects of the session,” said Inglis chief executive officer Mark Webster. “We have worked very hard to attract both domestic and international buyers to the sale, and I think this is reflected in the clearance rate being almost 85%. It’s been a great start to the sale and I’m looking forward to it continuing over the next three sessions with a great number of outstanding yearlings still to come.”

Newcastle trainer Kris Lees signed for the session’s highest-priced lot, a daughter of Redoute’s Choice out of the Woodman mare Coliape, on behalf of owner Ron Croghan for Aust$1.8million. The filly, offered by Reavill Farm, is bred on the same cross as multi-million dollar earner Miss Finland.

 “We paid a little more than we expected, but she is a lovely athletic filly and her full-brother (Smart Choice) is showing a lot of ability,” Lees said. “There are a lot of nice fillies here, but I thought she was one of the best.”

New South Wales owner David Fuller purchased a Redoute’s Choice --Castellina filly for Aust$1.1million while Ingham Bloodstock paid Aust$1 million for a filly by Flying Spur from the Marauding mare Cantenac, making her the first seven-figure yearling ever sold by Australia’s reigning champion sire.

 Ingham Bloodstock, already cashed up but further bolstered by selling off its farm and horses for half a billion dollars to Darley last month, was starting a rebuilding process. Ingham was the leading buyer of the session, securing five yearlings for Aust$4.125 million, including four of the top nine lots.

“It’s a very, very strong sale and the good horses are bringing big money,” Bob Ingham said.
The Ingham horse Portillo (by Red Ransom), purchased at this very sale last year for Aust$800,000, ran third in Saturday's group I, Aust$3.5-million Golden Slipper Stakes.

The second session of the Inglis auction is scheduled for Tuesday at the Newmarket complex in Sydney.

 



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