The Inglis Classic sale proved pre-auction pessimism with sales of over AU$23 million (US$15,910,020) on February 12, the second-highest opening ever achieved at the offering. the company’s first annual sale of the year.
The largest contribution to the level of trade, in a market still described as selective, is a tycoon writes colt (Lot 130) has sold for AU$550,000 (US$380,457), testament to NSW breeders Rob and Pam Crosby’s decision to ignore the bright lights of Magic Millions and the prestige of Inglis Easter and instead target selling Classic with their hunger for impressions.
Crosbys .’s first pony of double winning mares Sylvia’s Motherchampion’s son Yulong has attracted the attention of at least two of the biggest investors in the Australian industry, and it was Sally Williams of Tony Fung Investments who came out on top with the winning bid.
Yulong’s Yuesheng Zhang, sitting front and center at Riverside, was the lower bidder.
Coached by Annabel Neasham, who won the Inglis Millennium with Learn to fly on Saturday, the most expensive foal of the eight ponies a year sold for AU$300,000 (US$207,522) or more during the eight-hour sale at Riverside Stables.
Neale Bruce of Berkeley Park Stud, who deposited Tycoon on behalf of the Crosbys written at the top of the session, is not surprised at this price.
“That’s what we were hoping for, getting to that number, so we’re delighted,” said Bruce, who was handed the pony before starting his aspirational sale preparations. know.
“He’s just a good pony, he’s well put together and things are going well for him. The owners thought maybe he’d stand out here and they were well rewarded. worthy of its results.
“The Crosbys have a lot of winners, so I’m grateful they brought him to us.”
The Tamworth-based Crosbys, who watched the sale online from their homes, raced Team 3 Scorer Sylvia’s Mom with Team Hawkes and decided to keep their daughter. Snitzel to continue spawning from the family, also features a stake winner Bel Mer And All too royal and the 3-year-old running TFI bet Midnight in Tokyo in genealogy.
In 15 years of crossbreeding, the A$550,000 foal was the most expensive the Crosbys sold.
“We knew he was going to do well, he was a boar and his mother was a little champion that we bred and raced,” said Rob Crosby, who has been breeding under the Kansas Livestock banner. so that’s full circle for us.
“When he got through the ring, he was the calmest horse that sold all day and everyone noted that; temperament is important to these ponies.
“I was a little nervous, I was watching our Sale Days Live broadcast on our TV and I was a little nervous, but that was only because we were expecting a top price and we got the best price. top price, so we couldn’t be happier.”
Hutch is happy with the opening session
Ahead of the sale, Inglis Bloodstock chief executive Sebastian Hutch urged suppliers not to expect the same market demand as they did in 2022, a forecast that proved correct on yesterday, but trading on Day One still surpasses what was delivered on the same Monday many years ago.
Sales at Inglis Classic Yearling Sale surpassed Day One from a year ago
Last night, Hutch said opening day trading exceeded the company’s expectations and showed “a degree of selectivity to the market.”
He added, “People have a pretty clear idea of what kind of horse they want to buy, and if you don’t quite land at that sweet spot, it’s a bit harder, but obviously, if you land In the sweet spot there is an opportunity to get a premium on your stock and I think that’s important for any market.
“I think every vendor wants an auction house to be apprehensive before any sale because that keeps complacency in the first place and that means everyone is focused on doing a good job. and what is the goal.
“We were very clear about what we were trying to achieve throughout the day, but I think most of us were surprised by the nature of the competition and its depth.
“We’re aware of the (broader economic) situation and that’s something we’re sensitive to, but at the same time, we’re very pleased with the quality of the horses we have here.
“We feel people who come for sale can find a lot of nice horses to buy and certainly based on today’s evidence, they found them and paid the right price, which is great.”
There were 204 horses sold yesterday with an average of AU$115,767 (US$80,080) and an average price of AU$90,000 (US$62,256) while the payout ratio was 81%.
“Clearly, the numbers point to the fact that there’s a lot of money in the market. In the midst of the Classic drop, I think someone said it was the second-strongest first day in the history of the drop. Classic and for a great sum of money”. escrow,” said Hutch.
“Mean and median values are down slightly from the same period last year, but they should be up most other years. I know the format has changed a bit—no more Saturday night sessions—but that would be a positive start to this sale as it was even more than 12 months ago.”
He added: “I think we can expect a pretty consistent stream of results from here. The market is already established to some extent; there seems to be good demand for horses per share of people. vast population.
“A lot of people go home disappointed (Sunday) and hopefully, there will be horses for them to buy (Monday).”
The second day will begin at 10:00 a.m. Monday.
