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Italian Sales companies to merge for two years

IT has been revealed that the two Italian sales companies, Societa Gestione Aste Select (SGA) and the Italian Thoroughbred Sales Company (ITS), are to merge after a disappointing sale season for both entities through 2008.

It has been felt that there the number of quality yearlings in the country are not there to warrant the operation of two separate companies and sales. The agreement will operat in the first instance for two years.

"In Italy we do not have enough high quality yearlings to fill two different select sales," said Umberto Pianca, president of the SGA in the EBN. "We need to join forces with ITS at the request of our clients, breeders and owners."

New sale dates have already been decided upon with the Select September Sale planned for September 21, while the November Sale will take place on 13-14th.

ITS general manager Sandra Berardelli said: "We decided to sign the agreement for our clients at a very tough time for the industry. ITS will bring their clients, consignors and owners to the yearling sale, and we want to market our horses in training sales, which will be our home speciality."

The aggregate for last year's September Sale fell by 45 per cent, the average by 30per cent and the median by 41 per cent. The clearance rate was 66 per cent.

 

 

 

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