Classic Finish to Inglis Sale as Another Record is Set

The curtain Feb. 8 came down on the Inglis Classic Sale with the company having conducted yet another record yearling sale, after the February auction increased its turnover by nearly two thirds on the same time two years ago, fostering predictions that demand will be maintained for the rest of the year.

The 2022 Book 1 Sydney sale, in which 545 horses were sold for a combined AU$66,823,500 (US$47,446,500) at an average of AU$122,612 ($87,057), and a median of AU$100,000 ($71,002) at a clearance rate of 90%, fueled the significant year-on-year increase, effectively confirming the preparedness to invest in the Australian bloodstock market was at an unprecedented level.

When rival Magic Millions held the season-opening Gold Coast Yearling Sale last month, setting its own records, the platform was set for Inglis to capitalize on the intense demand.

This week's figures, though, still left some experienced industry observers stunned by how much the market has risen in such a short time, with the aggregate up 59% compared to the 2020 sale, the last before the impact of the COVID-19 pandemic was felt.

Inglis Bloodstock chief executive Sebastian Hutch was optimistic about the prospects of Classic prior to the opening lot going through the ring on Sunday, but he did not foresee what transpired in the following three days.

"For the sale to grow to that extent with no change to the catalog numbers, I would say surely would be unprecedented in the context of Australian sales," Hutch said. 

"It's a testament to the opportunity we've been afforded by breeders with really nice horses. We went into the winter with the firm belief that we had the capacity to sell really nice horses well at this sale and have the market to sustain it."

Hutch is confident that the upward trend will continue at the upcoming yearling sales, Inglis' principally being Melbourne Premier and the Australian Easter sale back at Riverside Stables.

"Breeders backed us with good horses, they believed in our conviction and it's borne out with the results because the buyers came here and liked what they saw and were prepared to pay good money for them and that's why we have the figures we have now," he said.

"(Buyers) were consistently active throughout the sale which is usually an indication of people who are confident in the way that they are doing business and, certainly, I would expect many of the participants here to be participants across Premier and into Easter, the May sale or even the Gold sale in May."

Fastnet Rock Filly Leads Final Day

The most expensive yearling sold on day three was a AU$500,000 ($355,014) Fastnet Rock  half sister to Keogh Homes William Reid Stakes (G1) winner Silent Sedition who will be trained by Ciaron Maher and David Eustace.

Armed with the knowledge that unraced 2-year-old colt Ringleader—the first foal of Silent Sedition—has shown talent on the training track, Maher and Eustace and Australian Bloodstock joined forces to buy the Fastnet Rock filly from the same family for AU$500,000 Tuesday.

The leading trainers and the syndicator also partnered with Lustre Lodge to buy the Coolmore-bred and sold filly, who was cataloged as Lot 558.

"At last year's Magic Millions sale, the Snitzel  colt out of Silent Sedition we went hard on and he is a lovely colt who is in the system at the moment," Maher's bloodstock manager Will Bourne said. 

"We wouldn't be surprised if we get a pedigree update in the next 12 months on the page and, being a filly with a great physical, she has residual value and is a good investment for our clients."

Australian Bloodstock also has a share in Ringleader, a AU$600,000 ($466,742) Magic Millions Gold Coast Yearling Sale purchase, who is yet to be seen in a public jump-out or barrier trial. 

The Fastnet Rock filly is the seventh foal out of the unraced Fiorentina (Dubai Destination ) who, along with Silent Sedition, is also the dam of the stakes-placed Perfect World and multiple winners Ginger Jones and Downforce.

At least 12 horses from the Classic sale will end up in the Maher-Eustace training regime and Bourne said the buying team had to work hard to find the right horses in a strong market.

"We've had to do our homework and go far and wide to find value," he said. 

"We've only bought around 10 horses, but I think the horses that we have bought have been good value."

Coolmore marketing and nominations manager Tom Moore said the filly could have been presented to the market at any sale in the country, but the stud chose Classic to showcase her.

"She had a lot of interest all through the week and plenty of good judges were on her. She ended up going to a great stable where she'll run in the Australian Bloodstock colors and she'll get every chance to add to her pedigree, which is one of the best pedigrees in the Stud Book," Moore said.

"There's a lot of fillies being bred up in the family and it will continue to improve in time. Fastnet Rock is going as well as he ever has, a dual champion sire, and fillies like this will always be well sought after even when she's finished racing and we wish the new owners the very best of luck."

Coolmore sold eight yearlings for a combined AU$1.475 million ($1,047,290) in the Book 1 session of the Classic sale.

Extreme Sale for Vendors

Meanwhile, Newgate Farm's Extreme Choice, the sire of Classic's two highest-priced lots at AU$825,000 ($583,530) and AU$775,000 ($548,127) respectively, was the sale's leading stallion by average with seven yearlings changing hands for AU$352,857 ($250,538).

His barnmates Deep Field (29 for AU$4.35 million/$3,088,620), Capitalist (28 for AU$4.185 million/$2,971,460), and Russian Revolution (25 for AU$3.805 million/$2,701,650) were also popular with the buying bench, ending the sale as the leading sires by aggregate. 

Newgate Farm, the Classic sale's biggest vendor with 54 yearlings offered, sold 48 for aggregate receipts of AU$5.645 million ($4,008,100) to be the leading vendor for the second year in succession.

It comes after Newgate Farm was, for the first time, crowned leading vendor at last month's Magic Millions Gold Coast Yearling Sale.

Sledmere Stud brought 29 Book 1 yearlings to Riverside Stables, achieving a 100% clearance rate, and generating AU$4.955 million ($3,518,190) in sales.

Mane Lodge's Neil and Denise Osborne, who consigned the record Classic-sold Extreme Choice yearling on Monday, was the leading vendor by average (three or more lots sold) after trading four yearlings in Book 1 for a mean of AU$296,250 ($210,346).

Victorian trainer Mark Kavanagh was the leading buyer, taking home 14 yearlings for a spend of AU$1.58 million ($1,121,840), while Darby Racing purchased 10 yearlings from Book 1 for a total of AU$1.36 million ($965,637).