3 minute read
Webster happy after two days of selling at Classic.
At the close of trade on day two, Inglis reported an average of $89,339, median of $75,000 and gross of $36,450,500 and Inglis managing director Mark Webster was very pleased with the results.
"If you look at those horses selling above $100,000, for example, there has been 137 make $100,000 or more after selling 540 lots, compared to 107 last year. That's just showing that it's easier to sell those better types even if they are more expensive at the moment.
"We sold two lots for $300,000 or more on Sunday and there were six today, so there was a bit more depth at the top. We have mopped up a lot of those passed in horses from yesterday and overall we're clearing 82 per cent and it was at 78 per cent yesterday.
"There was a good spread of buyers. There's no great concentration risk with any particular buyer segment. There's a healthy market.
At the 2019 sale 608 yearlings were sold during Book 1 at an average of $75,193 and median of $50,000 whilst the aggregate stood at $45,717,522.
Webster said the feedback he had received from vendors had been very positive.
"It's generally been positive. Most of them will have a draft and they will sell something really well and they will come to terms with the fact that they may have a yearling where the stallion's not fashionable.
"At the time we select these horses we don't know if some stallions are going to come into favour, out of favour or stay as they are, so that just happens with every sale. Most of them are pragmatic and that it is swings and roundabouts.
"With a sale that is averaging $90,000 and clearing 82 per cent through the ring with a day to go, we are in pretty good shape. To put it into perspective, this is our third cut of yearlings. It is not Easter, it is not Premier and it is averaging $90,000.
"It was only seven years ago that the Classic sale was averaging $30,000. It shows the strength of the industry and the market and we have diversified the buyers coming to this sale in particular."
