04/11/2013 3:00PM

Inglis Easter sale: Overall numbers rise significantly backed by record high prices

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The three-day Inglis Easter yearling auction in Sydney, New South Wales, Australia concluded Thursday with significant increases in total sales, average, and median price, paced by the two highest-priced yearlings in Australian auction history.

The final day of trading included the remaining hips of Inglis’ first session, which covered the Tuesday and Wednesday activity as well as 41 hips sold on Thursday. Inglis reported 290 hips sold from that first session for total receipts of about $89.1 million ($84.4 million Australian), a 16 percent increase compared with last year’s first session. The average price of about $307,200 rose 32 percent from last year, and the median price of about $211,000 jumped 25 percent. The first session posted a buyback rate of 22 percent, compared with 17 percent in 2012.

“A huge congratulations to all vendors who brought top quality yearlings to the sale,” Inglis managing director Mark Webster said. “The fantastic results recorded are a clear endorsement of the strength in both the local industry and the respect that the international community has for our product.”

The highest price on Thursday was fetched by a Redoute’s Choice filly out of Group 2 winner Vormista, purchased for about $949,400 ($900,000 Australian) by James Harron Bloodstock.

The two highest-priced yearlings in Australian auction history paced the overall trade, as a Redoute’s Choice half-brother to Australian Horse of the Year Black Caviar sold for $5 million in Australian currency on Tuesday to BC3 Thoroughbreds, and a Fastnet Rock colt out of Group 1 winner River Dove went for $4 million Australian on Wednesday to Emirates Park Pty. Ltd.

Inglis also conducted its session two portion of the Easter sale on Thursday, comprising 146 lots. That section brought total sales of about $6.8 million and remained level with 2012’s comparable total. However, average price rose 18 percent and the median jumped 31 percent from last year.

For complete results, click here.