Strong Start to Inglis Easter Sale
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Photo: Courtesy Inglis
Lot 87, a filly by Redoute's Choice, brought AU$1.8 million ($1,369,820)
Bolstered by a diverse group of buyers, the annual Australian Easter sale conducted by William Inglis & Son began on a strong note April 4 at the Newmarket paddocks in Sydney.
The sale company reported 110 horses sold for gross of AU$38,175,000 ($29,052,700 in U.S. funds), an average price of $347,045 ($264,115), and a median price of $300,000 ($228,312). During the comparable session a year ago, 138 horses grossed $40,292,500 for an average price of $291,975 and a $210,000 median. This year's session clearance rate was 80%, compared with 78% a year ago.
"We decided to be even more disciplined with yearling selection this year to ensure Easter maintains its reputation as the source of the best of the best, and that strategy is paying dividends,'' Inglis managing director Mark Webster said of the reduced number of offerings this year. "Vendors have presented horses of the highest quality and they are getting well rewarded for their hard work, and buyers appreciate only having to inspect the best of quality. Easter is not about numbers, it's about a standard."
The day's top lot was purchased by Tim Stakemire, racing manager for Sheikh Mohammed bin Khalifa Al Maktoum, who paid $1.8 million ($1,369,820) for a filly by Redoute's Choice produced from the multiple group 2 winner Court. The half sister to two-time Australian champion English was offered by Newhaven Park.
Second-highest price of $1.6 million ($1,217,660) was paid by James Harron for a colt by I Am Invincible who is the first foal from unraced Captivating Class, by O'Reilly. The colt, from the family of stalwarts Down Under such as Danewin, Octagonal, Court of Jewels and Shower of Roses was consigned by Segenhoe Stud Australia.
The sale that continues through April 6 is the final one at Newmarket, where Inglis has conducted sales since 1906. It is relocating to Riverside Stables at Warwick Farm.
"It was a special day at Newmarket under the fig, the last Easter Sale here and the buying bench was certainly keen to get involved in the action," Webster said.