3 minute read
Webster happy with trade on day one.
Inglis' managing director Mark Webster was pleased with the day's trade, despite buyers and vendors having to battle heavy rain throughout the day.
"I think some people were in shock when they arrived and saw the horizontal rain and some buyers couldn't get out to see the horses," Webster said.
"We had more than 150ml of rain, which made it a challenging day. Putting it all into context, to average nearly $92,000 is quite respectable. A lot of the passed in horses will get sold."
At the close of trade Inglis reported an aggregate of $17,733,000, a record single day of trade at a Classic Sale, eclipsing day three of the boom 2018 edition.
The day closed with an average of $91,881 – an 18 per cent increase on the same time last year – and median of $80,000.
"We traded $17.7 million and that's the highest amount of turnover on a single day for the Classic Sale so that's a positive.
"Obviously, the market is very selective and won't compromise on type, but I think we'll have more horses make $100,000 or more than in the past. We should have another strong day with the forecast showing five to 10ml of rain."
Meanwhile, Inglis' General Manager of Bloodstock Sales and Marketing Sebastian Hutch was equally encouraged by the results on day one.
"It has been a very positive start to the sale and particularly fulfilling for our team to see vendors who have supported Classic again this year rewarded with some outstanding results across the day,'' Hutch said.
"Some of the measures of the performance of the sale at this stage are really excellent and the expectation is that the clearance rate will continue to grow as our team works with vendors on passed-in lots.
"We have been at pains to stress in the lead-up to the sale the opportunities that abound for buyers at Classic, so it is great to see so many people here and bidding strongly.
"The depth of the buying bench bodes well for the next couple of days, so we are looking forward to getting stuck in again tomorrow."
