3 minute read
Sebastian Hutch delighted with the results.
At the close of trade on the final day of the Inglis Premier Yearling Sale, the auction house reported that 177 yearlings had sold at a clearance of 76 per cent with an aggregate of $8,104,500 during the Showcase session. The average was reported to be $45,788, while the median closed at $36,000. Meanwhile, Premier Book 1 clearance rate had jumped to 82 per cent with an average of $127,864, a 10 per cent year-on-year increase.
Sebastian Hutch, general Manager bloodstock sales and marketing said he was delighted with the results during the Premier sale.
"We are really satisfied with just not just how today [Tuesday] played out but the last three days. The clearance rate over the first two days has grown steadily in the 24 hours since the completion of the main session without compromising the average figure to any significant degree - so that is really pleasing.
"The nature of the better horses in the Showcase session was really quite extraordinary. What was particularly encouraging about it was the diversity of the people involved and there were a lot of people that made their way on to the buyers sheet today [Tuesday] was because they couldn't just not buy a horse, they couldn't even get a bid in, so it has been very fulfilling from that point of view."
Hutch was also delighted with the diversity of the buying bench at the sale, but also the support shown by Victorian participants.
"The nature of the buying bench looks well diversified and obviously the local Victorian participants have underpinned it but there has been great interstate participation, be it from New South Wales, Queensland and also participants from South East Asia and New Zealand in particular," said Hutch.
This year the Premier Sale was shaved back from four days to three days and Hutch said that he thought the changes had paid off for the sales house.
"We canvassed significant feedback on the changes and buyers, while they thoroughly enjoyed the sales process, from a practically point of view and it makes sense to try and condense time they are required to be away, particularly in the case of trainers, so to try and facilitate that we discussed and decided to change the format was the right way to go and it seems it was the right way to go," he said.
"We are under no illusions there is obviously scope for further improvement and we are conscious, but I think this sale sets a good platform for us going forward."
Inglis now turn their attention to the Easter sale, which begins its two-day run on April 7.
"It was a great compliment to the sale that volume of horses sold for $100,000 or more has grown from 192 last year to 236 and that's very rewarding for breeders, but also a great compliment to the buyers who have bid and bid strong and hopefully we can carry this momentum through to Easter," he continued.
