3 minute read
Hutch over the moon with Inglis Premier results
At the close of trade, Inglis reported that 196 lots sold for $28,391,000, at a 85 per cent clearance on Monday.
During the first two days of trade 398 lots have now sold for $56,991,500 at an average of $143,196 and median of $110,000. The average represents a 13 per cent increase from last year’s Premier Session figure of $127,259, while the median remains at $110,000. The aggregate increased 16 per cent to $56,991,500, a huge rise on the $48,867,500 overall during the 2020 Premier Session when 384 lots were sold.
Inglis’ general manager bloodstock sales and marketing, Sebastian Hutch expressed his delight at the results from the second session of the Premier sale.
“We are all very excited,” said Hutch. “It has been another fantastic day selling and I think we knew there was no discrepancy in the catalogue in terms of where the better horses sat, we knew there were good horses selling today. It is great to see them come in and make great money and more than anyone was expecting.
“We are looking forward to tomorrow. It will be another nice day. It is a great sale to be part of, the enthusiasm for it, the diversity of the buying bench and the quality of the stock, everything about it has been fantastic.
“We don’t want to be complacent going into the third day, but we set ourselves an objective of having a very good sale and I think it is safe to say it has worked out better than anyone could have envisaged, even the most optimistic amongst us couldn’t have imagined it would have been as good as it has been.”
The leading buyer after two days of action was the Ciaron Maher and David Eustace team, with the co-trainers purchasing 13 horses for an aggregate of $3,270,000.
Written Tycoon (Iglesia) was the leading sire by aggregate, with 14 of his progeny selling for a gross of $3,600,000, while he recorded an average of $257,143.
Meanwhile the leading stallion by average is Yarraman Park-based sire I Am Invincible (Invincible Spirit), who had six yearlings sell for $1,950,000 at an average of $325,000.
Blue Gum Farm enjoyed another good day in the sales ring and over the two days of trade the operation has sold 23 yearlings for the highest aggregate of $4,925,000 at an average of $214,130, while the leading vendor in terms of average (with three or more lots sold) was Glentree Thoroughbreds, who sold six lots for a total receipts of $1,980,000 at an average of $330,000.
The overall statistics show the strength of the market is being underpinned by domestic activity and most notably Victorian-based purchasers.
In 2020, buyers from Victoria equated to 67.94 per cent of the market share and the 2021 figure is up almost 15 per cent on 12 months ago, when they made up 52.26 per cent of the market share.
New South Wales-based buyers have slightly fallen, with NSW purchasers equating to 19.26 per cent of the market share, compared with 20.15 per cent in 2020.
In 2020 Hong Kong-based buyers were responsible for 11.19 per cent of the market and this has massively dropped off this year, with buyers from the jurisdiction representing 4.80 per cent of the market. Meanwhile buyers from Queensland, South Australia, WA, Tasmania and Singapore were also active.
In terms of deciles, there were increases across the board, but the single largest growth was experienced in the top decile for colts - in 2020 the average price was $331,957 which this year grew 43.09 per cent to $475,000.
The gains experienced at the sale are being mainly upheld by colts both top end and middle market, while the fillies results were less impressive apart from the top decile which rose 20.85 per cent from an average of $299,000 in 2020 to $361,333 in 2021.
