Inglis Classic bucks trend with increased figures
THE Inglis Classic Yearling Sale concluded today in Sydney, bucking the global downturn in bloodstock prices with across the board increases in the key indicators of its economic health.
From a catalogue that included 85 fewer lots than in 2009, 385 horses were sold for turnover of A$12,671,500 (£7,123,000, €8,113,000) - up 18 per cent on last year.
The average of A$32,913 (£18,475, €21,046) was up 19 per cent on the 2009 sale, while the median of A$25,000 (£14,032, €16,000) increased by 20 per cent.
The clearance rate provided further positive news, rising to 83 per cent from 72 per cent last year.
Inglis managing director Mark Webster said that a more selective approach to compiling the catalogue contributed to the positive results.
He said: "We worked hard to get buyers here and it was great to see the sale buck the trend with the average and the median up.
"In saying that, we made a conscious decision to be more selective when recruiting yearlings and we were prepared to offer slightly fewer horses, over two days instead of three."
Top lot on the second day - and the most expensive horse sold over the twosessions - was a colt by Fastnet Rock out of an Octagonal half-sister to Group 1 winner Special Dane, who was offered by Widden Stud and bought by Kieran Moore for A$250,000.