03/05/2014 5:24PM

Inglis Melbourne Premier yearling sale posts gains

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The Inglis Melbourne Premier yearling sale in Melbourne, Australia closed on Wednesday with improved figures.

The four-day sale was divided into two parts, with a three-day opening session preceding a single-day closing session.

Healthy trade ran throughout the opening session, with 447 horses selling over the three days for a combined $33,522,946 in U.S. dollars ($37,337,181 in Australian funds). The average sale price was $74,996 ($83,528 Australian), while the median finished at $59,267 ($66,000 Australian). The buyback rate was 18 percent.

“The last time this sale averaged in the $80,000s (Australian) was when Black Caviar, Starspangledbanner and Reward For Effort went through the ring,” said Peter Heagney, Inglis’ Melbourne Bloodstock Director.” “It would certainly be great for this week’s buyers to be rewarded with such outstanding racetrack success as those sold that year.”

Leading the sale was a Northern Meteor colt, who sold to the partnership of Sun Kingdom Pty Ltd., Gai Waterhouse Racing, and James Harron Bloodstock on day one for $403,805 ($450,000 Australian).

The bay colt, bred in Australia by Serenor Holdings Pty Ltd., is out of the New Zealand Group 2-winning Danasinga mare Conquistar, who has produced three winners from four foals to race. He is from the family of Group 3-placed Street Star, and was consigned as agent by Phoenix Broodmare Farm.

The second session closed with 108 horses sold for revenues of $2,995,629 ($3,337,000 Australian). The average second session price finished at $27,793 ($30,989 Australian), while the median settled at $22,443 ($25,000 Australian), and the buyback rate finished at 23 percent.

“The overall results exceeded our expectations and gave those vendors who offered well presented, well conformed yearlings a very good return,” Heagney said. “We appreciate the support we received from those vendors who sold with us and our buyers who were competitive right throughout the sale.”