The Book 2 portion of the Tattersalls October yearling sale ended its three-day run with a bang as the most expensive horse of the auction was sold. The son of Exceed and Excel brought 260,000 guineas ($427,718 in U.S. funds) Oct. 13 in England. In addition, the gross revenue for the entire sale was a record.
Mark Richards of the Hong Kong Jockey Club purchased the sale-topping bay colt.
“At the beginning of the week, this was the one I said that we should have,” Richards said. “I did not want to go home without him. He should be an ideal type for Hong Kong (with) plenty of speed and some quality; he’s got a huge backside already! Exceed and Excel has had good performers in Hong Kong and is doing well in both hemispheres. It was a no-brainer really.”
Consigned by Lofts Hall Stud, the colt is the first foal out of the winning Bahri mare Temple of Thebes. She is a half sister to Flashmans Papers (by Exceed and Excel), who captured the 2008 Windsor Castle Stakes in England.
The auction’s second-highest-priced horse also was sold during the final session. An Acclamation–Week End colt brought 230,000 guineas. John Warren Bloodstock, acting on behalf of George and Jackie Smith, purchased him from Rathbarry Stud.
The results for the final session included a gross of 7,882,500 guineas ($12,967,185) for the 206 yearlings that were sold. The average price was 38,265 guineas ($62,949), and the median price was 27,000 guineas ($44,417). The clearance rate was 81.1%.
During the entire auction, 635 horses were sold for a gross of 25,284,500 guineas ($41,594,700). The average was 39,818 ($65,503) and the median was 30,000 guineas ($49,352). Compared to last year, when 685 yearlings were sold, the gross increased 13.7%. The average grew 22.6% and the median advanced 20%.
The clearance rate was 84.7%, up from 73.7% in 2010. With the 23 horses that were sold privately, this years’ clearance rate was raised to nearly 88%, according to Tattersalls.
“Last week’s extraordinary trade at Book 1 of the Tattersalls October yearling sale gave the bloodstock industry a much needed boost and it has been wonderful to see the demand sustained throughout the three days of Book 2,” said Tattersalls chairman Edmond Mahony. “The key indicators of average and median have both made significant gains, and the turnover is a new record for the sale despite a considerably smaller catalog than last year.
"Competition at the top of the market has been particularly fierce with a huge rise in the number of six-figure transactions and an outstanding clearance rate from start to finish. Book 2 of the October yearling sale is a focal point for so many trainers and owners from throughout the world and a clearance rate in excess of 85% (when private sales were included) demonstrates the strength and depth to this week’s trade.
“The key factor, both in Books 1 and 2, has been the smaller catalogs,” Mahony continued. “We cataloged a record number of yearlings last year and quite simply, in the prevailing economic climate, it was too many. The imbalance between supply and demand needed to be redressed and reducing the numbers in Book 2 by almost 200 lots has played a crucial part in the success of this year’s renewal. Fewer yearlings, combined with an emphasis on quality, have created real competition at all levels of the market.”