Inglis Australian Easter Yearling Sale Sessions 1 Wrap
INGLIS AUSTRALIAN EASTER YEARLING SALE
Newmarket, Sydney, Australia
8-10 April 2014
The three-day Inglis Australian Easter Yearling Sale came to a close Thursday with overall sale clearance reaching 83%, 328 lots sold, an average of A$252,873 and a median of A$190,000. The average was the highest outside of 2013, when two high-priced colts added A$9 million alone to the gross for the past five years. The clearance was better than 2010 (80%), 2011-12 (82%), 2013 (78%) and only lower than 2009 (84%). Throughout the sale we have seen a very good clearance rate, said Inglis Bloodstock Director Jonathan D’Arcy. “The horses that had passed in during the sale have met with good reception outside. The overall clearance of 83% through the three days is very pleasing. If at any sale around the world you can be selling at 83%, I’d say you’ve done very well. The highest price paid at this year’s Easter sale was A$1.6 million paid for Lot 149, a colt by Fastnet Rock out of Perfect Persuasion, who was secured by John Warren Bloodstock”.
Offered during the first day of selling, the colt was consigned by Coolmore Stud, who sold a trio of yearlings at Easter, all by Coolmore stallion Fastnet Rock for in excess of seven figures. The sale concluded with seven yearlings bringing over A$1-million, with four falling on Day 1, two on the second day and one yesterday. “We all thought that the first day was the strongest, but it was just the way the alphabet falls, and that’s where a couple of the big horses were”, explained D’Arcy.
Added Inglis Managing Director Mark Webster, “The middle market was very strong, and I still think the top of the market was quite good as well. The number of yearlings making a million or more compared to other sales in the region is still well ahead of what everyone else can do. While gross, average and median dipped from the 2013 renewal of the sale when a pair of colts brought A$5-million and A$4-million during the first two sessions this season’s renewal of the sale compared with other editions over the past few years. I said before the sale that there was no way we were going to replicate those two big colts, so I am really happy with the result”, said Webster. “My goal coming into the sale was to improve the clearance rate and get it into the low 80s, so I think we have done that”.
Topping Thursday’s truncated final portion of Session 1 was Lot 403, a colt by Fastnet Rock out of Defiant Dame. Consigned by his breeder Coolmore Stud, the colt was secured by trainer Gerald Ryan for A$1.3 million. Thursday’s Session II also offered a couple of highlights, headed by Lot 523, a colt by Magic Albert, out of the Snitzel mare Eye For Fun. The half-sibling to G1 Golden Slipper heroine Mossfun was purchased by Sheikh Mohammed bin Khalifa Al Maktoum for A$750,000, the second highest price on the afternoon. “There are some yearlings that would sell better in Session II, it is a matter of placement, said Webster. If vendors were more open to Session II, they might actually get a better result in Session II. So that is something we would like to talk more about to some of the vendors going forward as it is a session that is producing good performers, like Mossfun who brought A$85,000 in 2013. The same buyers are here. One of the top sellers in Session II is Lot 450, a colt by Northern Meteor, who went to China Horse Club for A$650,00], so it is successful. And Hong Kong’s George Moore was the underbidder, so the big bidders are still here”.
Commenting on the overall quality of this year’s group of yearlings relative to what many thought was a superior lot offered in 2013, D’Arcy said, “I think maybe some stallions were just a little bit off this year. Last year, we just had the best group of Fastnet Rock colts and fillies that we had ever seen. This year just wasn’t the same, although we did have some very nice Fastnets, but they just weren’t the same caliber, as a bunch”.
On the other side of the coin, D’Arcy pointed out several other stallions improved over one year ago. “This year, we had some outstanding individuals by Street Cry and I think More Than Ready had the best group he has ever had at a sale, he said. I think horses like Sebring and Northern Meteor moved into the market. I think now we have a group of six or seven stallions in Australia that people are happy to go to over A$500,000, and as we saw, up to A$1.5 million for a Snitzel Lot 118, so the young stallions are really starting to hit the market in the sale ring”.
Leading the charge by gross expenditures through Session I was Shadwell Australasia, which signed for 20 head for a total of A$8.085 million. The operation was well ahead of Sheikh Mohammed bin Khalifa Al Maktoum, who took home four yearlings for A$3.625 million and topped Session II with a single purchase of A$750,000. “The other thing is we are not relying on any one buyer, said Webster when asked about the buying bench. The buying bench has been quite diverse with a couple of big buys for the Middle East, but we have had B. Wayne Hughes and John Moynihan from the U.S., Hong Kong, Chris Waller, Gai Waterhouse, Peter Moody, Gerald Ryan and some syndicators have been able to buy as well. Topping the vendors in Session I was Coolmore Stud at A$9.18 million for 29 sold, followed by Arrowfield Stud at A$7.61 million with 26 sold. Fastnet Rock proved far and away the best of the bunch with 41 yearlings selling for an aggregate of A$15,485,000, well ahead of More Than Ready who reeled in A$8,485,000 for 31 head sold”.
Inglis Australian Easter Yearling Sale
Day Three Top Lots
Eye For Fun
Fairview Park Stud
Mill Park Stud
David Redvers Bloodstock
MORE THAN READY
China Horse Club
Southern Cross Breeders
Inglis Australian Easter Yearling Sale
Average (% change)
Median (% change)
Extracts from TDN/EBN