3 minute read

First session closes with increases in key areas

At the close of trade, Inglis reported that 193 lots sold at a 83 per cent clearance, compared to 168 lots selling at a 75 per cent at the same point last year. The average rose 13.3 per cent to $144,189 from $127,259 for the Premier Session in 2020, while the aggregate increased 19.5 per cent to $27.8 million, a huge rise on the $23.3 million spent at the close of the opening day last year. The median of $110,000 remained unchanged compared to the median for the Premier Session last year.

Inglis’ managing director Mark Webster expressed his delight at the results from the opening session of the Premier sale. 

“We always believed we had put together the right catalogue and all the foot traffic of inspections days and feedback we had received backed up our thoughts but it’s still nice to see the breeders and vendors getting the results they deserve as they have done today,’’ Webster said.

“To end day 1 with a clearance in the mid 80 per cent’s and growing at a healthy average and record gross is yet another pointer to how lucky we all are to be involved in this industry in this part of the world.

“I must congratulate Rob and Sylvie Crabtree and Phil and Patti Campbell on their $1.1m colt, what a spectacular result for them and for the Victorian industry and they thoroughly deserve a result like that.

“There are still many, many opportunities for buyers to get involved here yet – many are yet to strike and we’re looking forward to the next two days of action where there will be plenty more good buying to be done.’’

The leading buyer after day one was the Ciaron Maher and David Eustace team, with the co-trainers purchasing ten horses for an aggregate of $2,160,000, while Justin Bahen and Matt Laurie led the way in terms of average (with three or more lots sold) purchasing four yearlings for $2,020,000 at an average of $505,000. 

Written Tycoon (Iglesia) was the leading sire by both aggregate and average (with three or more lots sold), with six of his progeny selling for a gross of $2,430,000, while he recorded an average of $405,000, nearly $100,000 clear of his closest rival Shalaa (Invincible Spirit), who recorded an average of £307,500. 

Blue Gum Farm enjoyed a good day in the sales ring, selling 13 yearlings for the highest aggregate of $3,040,000at an average of $233,846, while the leading vendor in terms of average (with three or more lots sold) was Glentree Thoroughbreds, who sold three lots for a total receipts of $990,000 at an average of $330,000. 

The overall statistics show the buoyancy of the market is being underpinned by domestic activity, with buyers in Victoria massively upping their spend at the Melbourne Sale. 

In 2020, buyers from Victoria equated for 67.93 per cent of the market share, - 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 increased, equating to 21.96 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 2.71 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 40.49% to $466,364. The gains experienced at the sale was predominantly driven by colts both top end and middle market while the fillies market’s results were a little muted apart from the top decile which rose 21.24% from an average of $299,000 in 2020 to $362,500 in 2021.