Australia-Yearling Bloodsock sales see 31% price increase despite recession.

AUSTRALIA-Gross Surges 31% at Oaklands

27th Apr 2009

Despite fewer horses being offered, the Inglis Melbourne Autumn Yearling Sale surged by more than 31% in gross turnover following today’s final session, which achieved an outstanding clearance rate of 94%.

A total of 293 yearlings were offered for sale over the past two days, with 89% selling for a gross of $2,610,750 at an average of $9,965 and Median of $7500.

This represents a 31.4% increase on the $1.986m traded last year (on 16 additional horses) and a 14% rise on the average of $8750.

Today’s highest price and overall sale topper was Riverina Downs’ chestnut colt by Bianconi from the Palace Music mare From The Palace, which sold to Tasmanian client Tony Seymour for $62,000 and will enter the stables of George Blacker.

This colt also won the Inglis Insurance Best Presented Yearling Award at the sale.

A Keep The Faith colt from the Swettenham Stud draft sold for $46,000, while fillies by Reset and Invincible Spirit fetched $45,000 during today’s final session.

"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, which is almost unprecedented for a yearling sale," Inglis Director Peter Heagney said.

"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."

Horses passed in during this week’s sale, in addition to those not sold at both the Australian Easter Yearling and Broodmare Sales, are still available for sale via the Make an Offer service.

The next Inglis Sale is the HTBA Scone Select Yearling Sale, which will be held at White Park, Scone on May 14.

The next sale to be conducted at Oaklands is the Great Southern Weanling Sale on May 18 and 19, followed by the Great Southern Bloodstock Sale on May 20 and 21.

Entries for the Australian Weanling and Breeding Stock Sale close this Friday, May 1. The sale will be conducted in Sydney on June 25, 26 and 28.

Statistics

Catalogued: 373

Withdrawn: 80

Offered: 293

Sold: 262 (89%)

Passed In: 34 (11%)

Gross: $2,610,750

Average: $9,965

Median: $7,500

Top Price: (Lot 234) $62,000

AUSTRALIA-Hot Bidding gets Autumn off to Flying Start

26th Apr 2009

The weather may have been cold, but the bidding was hot as more than $1million was traded on the opening day of the 2009 Inglis Melbourne Autumn Yearling Sale, with the excellent clearance rate helping the overall figures to buck the worldwide downward trend.

Today’s opening session saw 114 yearlings sold for $1,046,750 at an average of $9,182, meaning the sale is on track to better last year’s overall average of $8750.

Furthermore, today’s outstanding clearance rate of 84% is far superior to the 73.5% recorded last year and the median of $7000 is a significant improvement on the $6000 recorded during the opening session of 2008.

"We are absolutely delighted with today’s result," Inglis Director Peter Heagney said. "We had a stronger buying bench than we might have anticipated and there was excellent competition on horses right throughout the day.

"There was good interest from country Victoria, south east Asia and indeed from all states of Australia.

"On a pro rata basis, I would describe this as one of the strongest sales I have seen this year and tomorrow’s catalogue looks just as strong, so hopefully that will continue."

The day’s highest price came for Lot 28, a brown colt by Mic Mac’s sire Statue Of Liberty from the Grosvenor mare Saloon Bar Girl, which was offered by Tetrarch Park Stud and sold to Mark Young Racing for $54,000.

Blue Gum Farm’s Elvstroem colt from The Blues Sister (Blues Traveller) yielded the second highest price of the day when selling for $42,500.

The sale continues from 11am tomorrow with coverage on Inglis Sale Day Live.

All passed in lots today are available for sale via the Make an Offer service, which also includes passed in lots from the recent Australian Broodmare and Easter Yearling sales.