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Inglis Premier Sale records record-breaking $70 million aggregate

At the close of trade, Inglis reported that over the three days of trade in the Premier session, 456 lots sold for $63,750,000, at a 88 per cent clearance, compared with 384 lots selling for $48,867,500 at a clearance rate of 83 per cent in 2020. With 19 per cent more horses sold this year compared to last, the aggregate rose 30 per cent. 

The average was up nearly 10 per cent on 2020 at $139,803, compared with $127,259, while the median was slightly down - 4.5 per cent - at $105,000, compared to $110,000 a year ago. 

Inglis managing director Mark Webster was thrilled with the overall results and high in his praise for the Victorian breeding industry that has backed the Premier Sale so diligently.

“This is their sale, they have thrown everything behind it be it as a breeder, vendor or buyer and what this past three days has proven is that when a huge amount of local support – coupled with outstanding drafts from the Hunter Valley, Tasmania, South Australia etc - is there, the results can be astronomical,’’ Webster said.

“For a Premier Sale to gross in excess of $70 million is really quite extraordinary.

“There’s nothing this sale didn’t have – record gross, record average, record number of horses to sell at the higher end of the market, a $1 million colt, the best-ever quality for buyers, a fantastic atmosphere, it had the works.

“I’m so thrilled for all the vendors and breeders who achieved such fabulous results and so happy for the buyers who have taken home some of the best yearlings on offer anywhere in the southern hemisphere this year.’’ 

The leading vendor by aggregate was once again Blue Gum Farm, who sold 25 of the 29 yearlings offered for $5,205,000 at an average of $208,200, with the crowning-jewel in their draft being a colt by Written Tycoon (Iglesia), who was purchased by James Harron for $1.1 million on the first day of the sale - the second most expensive yearling to sell at public auction in Victoria. 

“It’s been fabulous. To sell our first million-dollar horse, to gross over $5 million for the first time and to average over $200,000, you really can’t ask for much more,’’ Phil Campbell said.

“I can’t thank Inglis enough, the buyers they had here has been phenomenal. To think we were in lockdown here a fortnight ago but Simon and Sebastian and the team have rallied every buyer you could possibly ask for at a sale, full credit to Inglis and to all our clients.’’

The leading vendor by average was Glentree Thoroughbreds, who sold six yearlings for an aggregate of $1,980,000 at an average of $330,000. 

Leading the way in terms of sires was Written Tycoon, finishing the sale with an aggregate of $3,600,000, having sold 14 yearlings at an average of $257,143, while Yarraman Park-based sire I Am Invincible Spirit (Invincible Spirit), who sold seven lots for a total receipts of $2,200,000 at an average of $314,286. 

Newgate Farm’s Extreme Choice (Not A Single Doubt) proved to be the most profitable stallion (with three or more lots sold), selling three yearlings for an aggregate of $650,000 at an average of $216,667 off a covering fee of $22,000 (inc GST), a profitability of 4.6. However, his barnmate Deep Field (Northern Meteor) finished with a healthy profitability rating of 4.2, which is a standout figure considering he had a massive 15 lots sell for an aggregate of $2,965,000 at an average of $197,667 off a stud fee of $22,000 (inc GST). 

As with many sales in Australasia this year, Cambridge Stud shuttler Almanzor (Wootton Bassett) proved to be the most popular among the first season sires, having four of his progeny sell for an aggregate of $730,000 and he recorded the biggest average (three or more lots sold) in the first-season sire ranks of $182,500. These figures all come off a covering fee of A$31,954 and he finished with a profitability of 3.2. 

Arrowfield Stud-based first season sire Pariah (Redoute’s Choice), recorded the second biggest average of $163,750, having been represented by eight lots selling for an aggregate of $1,310,000, while the first-crop of Coolmore Stud shuttler Churchill (Galileo) proved popular at the Inglis Premier Sale, with four of his yearlings selling for a gross of $650,000 at an average of $162,500. 

Leading the way of second season sires (by average) was Extreme Choice, however Arrowfield Stud shuttler Shalaa (Invincible Spirit) also performed well at the sale, with 12 of his second-crop of yearlings selling for an aggregate of $2,450,000 at an average of $204,167, while Capitalist’s (Written Tycoon) popularity in the sales ring continued, with 14 of his yearlings selling for a total receipts of $2,515,000 at an average of $179,643. 

Ciaron Maher Bloodstock finished the sale as the leading buyer by aggregate, purchasing 13 yearlings for a total spend of $3,270,000. 

In 2021 so far, Ciaron Maher Racing have bought 62 yearlings for an aggregate of $15,618,000, while in partnership with other people they have bought a further 21 yearlings for a total of $5,085,000, taking the gross amount to $20,703,000.

At the same point last year, Ciaron Maher Racing had purchased 47 yearlings for $7,911,000 and 29 in partnerships for $4,756,000, which took their overall spend to $12,667,000.

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 Victorian buyers spent $25,552,500 on 214 yearlings, equating for 52.26 per cent of the market share at Premier. In 2021 they increased their spend by 63.83 per cent, purchasing 303 yearlings and finished the sale with an aggregate of $41,861,500, making Victorian buyers responsible for a market share of 65.67 per cent. 

Activity from Hong Kong buyers was hugely down on 2020, when buyers spent $5,470,000 on 32 yearlings equating to 11.19 per cent of the market share. At this year’s edition of the sale Hong Kong buyers bought 17 yearlings for an aggregate of $3,135,000 and finished with a market share of just 4.92 per cent. 

Interestingly, with the Magic Millions Adelaide Yearling Sale just round the corner, buyers from SA increased their spend at the Inglis Premier Yearling Sale, purchasing 16 yearlings for a gross of $1,985,000 and finished with a market share of 3.21 per cent. This is a large increase on their 2020 figures, where buyers from SA bought just nine yearlings for $1,040,000, adding to 2.13 per cent of the market share. 

In terms of deciles, the single largest growth was experienced in the top decile for colts - in 2020 the average price was $331,957 which this year grew 38.29 per cent to $459,074. The gains experienced at the sale was predominantly driven by colts both top end, the fillies market’s results were a little less impressive, apart from the top decile which rose 19.61 per cent from an average of $299,000 in 2020 to $357,647 in 2021.