04/06/2010 11:00PM

Easter sale slips on second day


The Inglis Easter yearling sale's second session did not sustain the gains it posted on opening day, but the Australian auction did produce one million-dollar horse on Wednesday.

Wednesday's session-topper was a Redoute's Choice colt out of Asian Reef that Kitchwin Hills sold to bloodstock agent James Bester for about $1,104,000. The bay colt is a three-quarter-brother to Australian Group 1 winner Bon Hoffa and to record-setting Group 2 winner Before Too Long.

In selling the session-topper, consignor Kitchwin Hills recouped some of the money it spent at the Easter yearling sale's opening session Tuesday. The farm paid about $1,725,000 for Tuesday's session-topping Redoute's Choice colt out of Regrowth, by Unbridled's Song.

Wednesday's session-topping colt was Kitchwin Hills' first million-dollar sale as a consignor.

Inglis's managing director, Mark Webster conceded that Wednesday's market was "a little soft" but still expressed satisfaction with the average price, which was about $201,807 at the second session, down 17 percent from last year's second-day figure.

Wednesday's session sold 128 yearlings for about $25,831,300, down 41 percent from last year's equivalent day, when 180 yearlings sold. The median, approximately $156,400, decreased by 15 percent.

The Inglis Easter yearling sale was to conclude on Thursday at the company's Newmarket facility near Sydney.