03/05/2013 1:13PM

Inglis Melbourne sale maintains momentum through day three

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Trade picked up on Tuesday at the Inglis Melbourne premier yearling sale at the Oaklands complex in Victoria, resulting in cumulative receipts steady with last year’s auction and a solid increase in average price.

Inglis reported 408 horses sold through the first session, which spanned three days, totaling approximately $32,870,000 ($32,079,912 Australian). Total revenues were on par with those from last year’s sale at this point from 443 horses sold.

The average price of $80,560 rose 8 percent compared with 2012, while the median held steady at $61,470. The buy-back rate remained higher this year at 24 percent, compared with 18 percent in 2012.

“This has still been a very selective market, which is shown in the results with the better types and progeny of the top sires selling well,” Inglis managing director Mark Webster said. Webster added that he expected private sales occurring after the session would reduce the buy-back rate in the coming days.

Two yearlings shared top price on Tuesday at about $307,350 ($300,000 Australian). A Redoute’s Choice colt from the consignment of Lauriston Thoroughbreds sold to Nordic Racing & Breeding. Out of the Success Express mare Glimmers, he is a half-brother to Group 1 winner and $2.5 million earner Gold Edition.

A colt by Not a Single Doubt out of the Final Card mare Euchre—a half-brother to Singapore stakes winner World Airlines and stakes-placed Alacarte—was bought by New Zealand’s Tony Pike, as agent, from the consignment of Fairhill Farm.

Lindsay Park Racing of Victoria finished the opening session as leading buyer, with seven purchases totaling about $1,008,770. Eliza Park was the session’s leading consignor with 35 horses sold for $2,502,980. Coolmore Australia’s Fastnet Rock easily led all sires by average price, as his five yearlings averaged $284,635.

The four-day Inglis Melbourne premier yearling sale was set to conclude on Wednesday with a single-day second session beginning at 11 a.m. local time.

For online results, click here.