04/10/2014 9:58AM

Inglis Australian Easter yearling sale posts mixed results

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The Inglis Australian Easter yearling sale closed Thursday with significant improvements in certain areas of the market, but an overall drop in its marquee session.

The first session, spanning April 8-10, moved 328 horses for revenues of about $78,050,795 in U.S. funds ($82,942,500 Australian), down two percent from 2013, when 291 horses sold for $79,564,452 ($84,530,000 Australian). The average sale price of $238,052 ($252,873 Australian) was a 13 percent decrease from $273,460 ($290,481 Australian) last year, while the median price fell five percent, from $188,294 ($200,000 Australian) to $178,882 ($190,000 Australian).

While the price-related figures experienced a slight dip from the previous year’s first session, the buyback rate of 17 percent was the lowest for the opening session since 2008.

The second session, held April 10, cleared 83 horses for a gross of $7,416,319 ($7,878,500 Australian), up 17 percent from last year’s ultimate session, where 80 horses were sold for a combined $6,358,292 ($6,754,000 Australian). The average sale price was a second-session record of $89,454 ($94,992 Australian), up 13 percent from the 2013 average of $79,503 ($84,425 Australian).

The buyback rate for the second session was 23 percent, dropping from 29 percent last year.

“We are very pleased to see the overall combined gross from sessions one and two on par with last year at nearly $91 million [Australian],” Inglis managing director Mark Webster said. “Vendors must be congratulated on presenting their drafts in such great order. Buyers were here to pick out the best of the best and we look forward to these Easter graduates hitting the racetracks around the globe in the coming years.”

John Warren Bloodstock bought the sale’s highest-priced offering, a $1,506,971 ($1.6 million Australian) Fastnet Rock colt out of the stakes-placed Encosta de Lago mare Perfect Persuasion. The bay colt is a sibling to one winner from two foals to race, and both runners are stakes-placed. His extended family includes two-time Australian champion Alinghi and Group 3 winner Beneteau.

Bred in Australia by Katom, the colt was consigned as agent by Coolmore Stud. He is the first foal out of Perfect Persuasion to bring seven figures in U.S. funds at public auction.