When it’s HOT – it’s HOT!
Just like most sectors of the Australian economy, such as Real Estate, Stock Market, New Motor Vehicles, Caravans, Boats and other Luxury leisure industry toys, these sectors are buoyant because
business confidence is high and
strong employment figures, resulting in
abundant disposable income slushing around the economy, especially the many
billions of dollars that was not spent on overseas travel in the past 12 months, combining with
record low interest rates, sees a hybrid of investors looking for
new ways to increase earnings, whilst others look for
quality recreational pursuits.
It’s the
thoroughbred industry that has been a
beneficiary seeing a
“mushrooming effect” in confidence, backed already by
record Prizemoney levels and in NSW, administrators recently announced a very healthy
further increase in prizemoney, throwing more fuel on already
insatiable demand for
quality bloodstock.
This was seen over the past
3 Days at the INGLIS Melbourne Premier Yearling Sale conducted at Oaklands Junction which saw almost
every record smashed.
We know the true strength of our market is not by the setting of record prices or seeing increases in year on year averages, that’s too obvious.
Rather it’s by the way the
lesser horses and horses with
obvious defects or those horses that have
x-ray issues or
fail x-rays or
fail endoscopic evaluation find buyers.
It’s the strength of the bottom end, the horses with
poor commercial appeal or defects everyone can see, that underpins the marketplace.
This is the
true barometer, and in this sale, we just
shook our heads at what some people were buying.
The harder you work, the luckier you get! We did our Due Diligence and were rewarded.
DYNAMIC SYNDICATIONS had only intended to
purchase one or two from the sale however we
added three (3) high-quality lots to our
2021 Yearling Team, taking our
total yearling crop to 16.
We have purchased 8 from the Magic Millions, 5 from the Inglis Classic and now 3 from the Inglis Premier.
We started by analysing the
804 lots catalogued which after days of
researching each pedigree for genetic balance to match commercial pedigree pages, we reduced the catalogue to
96 lots for inspection.
Of these
96 lots, after
physical inspections we reduced the list to 36 lots to give to our
veterinarian Dr Tim Roberts.
The list was reduced by
4 lots to
32 for X-ray review and Endoscopic evaluation.
We removed
20 lots off the list of
32 at this vital stage.
That was due to issues found on X-Ray or Videoscope reports that either were borderline Grade 3 or Grade 4 fails.
From these
final 12 lots that received the
green light to proceed, we chose to
target 3 specific horses which we really wanted the most as we felt potentially these would
give our owners the best opportunities of racetrack success.
Of the other
nine (9) lots that were on our final list, we considered
four (4) would be well above our ceiling prices
(which ultimately proved correct) and of the remaining
five (5) lots, they would be
excellent back-up lots if we missed out on any of our three primary targets.
We Came – We Saw – We Conquered!
We purchased the three (3) prime lots we wanted most, each by a true champion sire and each with a terrific genetic balance to its pedigree and each with excellent conformation, low risk X-rays and a Grade 1 scope :
LOT 142 AMERICAN PHAROAH x LISSON GROVE Bay Colt $110,000 + GST
Inglis Melbourne Premier (Auction Ring) - Lot 142 American Pharoah x Lisson Grove colt from Dynamic Syndications on Vimeo.
LOT 238 SAVABEEL x PASSION CHEVAL Bay Colt $80,000 + GST
Inglis Melbourne Premier (Auction Ring) - Lot 238 Savabeel x Passion Cheval colt from Dynamic Syndications on Vimeo.
LOT 568 FRANKEL (GB) x DADDYS POPPIT (USA) Brown Filly $115,000 + GST
Lot 568 (Inglis Premier) - Frankel x Daddys Poppit filly.mp4 from Dynamic Syndications on Vimeo.
BELOW: Hear from ADAM WATT about our 3 Terrific Yearlings
Melbourne Premier Recap from Dynamic Syndications on Vimeo.
An overview of the Melbourne Premier stats:
2021 PREMIER YEARLING SALE STATISTICS - BOOK 1 (2020 in brackets)
Lots Sold: 456 (384) an increase 72 lots
Clearance Rate: 87% (83%) an increase of 4%
Average Price: $139,803 ($127,259) an increase of $12,544 (9.0%)
Median Price: $105,000 ($110,000) a decrease by 4.7%
Top Price: $1,100,000 ($725,000)
Gross: $63,750,000 ($48,867,500) up $14,882,500 (23.3%)
SHOWCASE SESSION II
Lots Sold: 163 (183) a reduction of 20 lots
Clearance Rate: 84% (78%) up 6%
Average Price: $46,273 ($45,642) up $631 (1.4%)
Median Price: $40,000 ($36,000) up $4,000 (10%)
Top Price: $175,000 ($180,000)
Gross: $7,542,500 ($8,352,500) down $810,000 (10%)
*The sale saw incredible growth, with a total gross across Session I and Session II of $71,235,000 a 25% year-on-year increase and this figure outstripped the previous Premier gross sale record of $60.6m realising a 15% increase on that level achieved back in 2017
*The Book 1 average of $139,803 is a clear Premier Sale record, up 9% on last year’s figures.
*The top end of the market surged spectacularly, with a 266% increase in yearlings sold for $400,000 or above (22 this year, up from six last year) and a 105% increase on lots sold for $300,000 or above (37 this year, up from 18 last year).
*The buying bench, while as expected was led by Victorians, included buyers from each of the other seven Australian States and Territories as well as Hong Kong, Singapore and NZ, while 21% of the catalogue received a bid through the Inglis Online Bidding system.
*The sale’s top lot – a Written Tycoon x Gybe colt became just the second horse ever to realise over $1m in Victoria
*The Sale Day Live broadcast, hosted by Jason Richardson, Caroline Searcy and Jemma Cutting, was again a booming success, with over 100,000 views between the Inglis website and Facebook page.
Inglis Managing Director Mark Webster was thrilled with the overall results and high in his praise for the Victorian breeding industry that has backed the Premier Sale so diligently.
“This is their sale, they have thrown everything behind it be it as a breeder, vendor or buyer and what this past three days has proven is that when a huge amount of local support – coupled with outstanding drafts from the Hunter Valley, Tasmania, South Australia etc, the results can be astronomical,’’ Webster said.
“For a Premier Sale to gross in excess of $70m is really quite extraordinary.
“There’s nothing this sale didn’t have – record gross, record average, record number of horses to sell at the higher end of the market, a $1m colt, the best-ever quality for buyers, a fantastic atmosphere, it had the works.