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The 2012 edition of the Australian Easter Broodmare Sale came to a close on Thursday with positive results and feedback received for the new format implemented by Inglis.
For the first time the prestigious sale was graded into three separate sessions, a Super Select Session on Tuesday, Select Session on Wednesday and General Session.
Vendors strongly supported the grading system with entries, leading to a positive response from buyers, who outlayed $23,167,450 on 434 lots over the three days, and increase of $721,8000 on the 2011 aggregate.
The top prices were $1.050 million for Sharp Susan and $1.025 million for Mimi Lebrock .
The new format also resulted in a significant increase in the overall clearance rate at the Easter sale of 73%, up from 67 per cent last year.
Gerry Harvey's Baramul Stud led the strong buyers list at the Super Select Session, purchasing nine lots for $2,322,500, followed by James Bester who bought three for $1,495,000 and SF Bloodstock who also secured three for $1,180,000.
An additional $750,000 worth of sales have been processed privately on the Super Select Session lots that were passed in, including G2 winner Night War which has been sold to Vinery Stud for $350,000.
The finishing average of $137,259 for the Super Select Session is a clear indication that the new format appealed to buyers, supported by comments from many leading figures such as Adrian Hancock, Damon Gabbedy and BBA Ireland's Adrian Nicoll.
"It's a very positive move. It was very good for buyers to have the best mares concentrated in one session,” said Hancock.
“A great idea well executed. After a long yearling sale season it certainly made life a lot easier to have the top breeding prospects offered on one day,” Gabbedy commented.
“My clients selling Mimi Lebrock for over $1million were certainly delighted and from a buyers point of view I was also delighted with the format, being able to stay on after the yearling sale to purchase three great mares on the one day,” Nicoll said.
Buyers who missed out on their number one picks on Day One came back on Wednesday, leading to a strong clearance rate of 73% on the Select Session offerings.
After purchasing three lots on Day One Damon Gabbedy was the leading individual buyer on Day Two, purchasing an additional seven fillies and mares.
Apart from selling the top lot for $200,000 on Day Two Glenn Burrow's Willow Park Stud met the market and sold their other four offerings on Wednesday, while Yarraman Park Stud sold 18 of their 19 Select Session mares at an average of $31,056.
“Vendors who read the market well were able to attract plenty of competition on their lots as buyers worked their way through their preferences from Day One through Day Two and into Day Three,” noted Inglis Managing Director Mark Webster.
The three day graded format ended on Thursday with the General Session recording an increase across all market indicators, closing with a strong clearance rate of 80% (up from 67% last year).
Eliza Park Stud purchased the top lot from the General Session, going to $60,000 to secure stakes winning Danasinga mare Chestpeak.
Already the producer of stakes placegetter The New Boy the bay mare was sold in foal to Dane Shadow by Bylong Park Thoroughbreds.
Kings Concubine and Always Loyal also recorded the second and third highest prices in the General Session since 2008 when sold for $51,000 and $45,000 respectively.
Online bidding was strong throughout the sale, with the 86 individual registered online bidders purchasing 54 lots after bidding on an amazing 202 offerings.
