04/07/2010 12:00AM

Easter sale slips on second day

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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.