The 2023 Inglis Classic Yearling Sale has concluded with some strong results for this style of sale.
Inglis Bloodstock chief executive Sebastian Hutch described the results at the Classic as “very satisfying.”
“It has certainly been stronger that what we anticipated pre-sale." Sebastian said.
"I think the volume and variety of buyers has been the major driver of that.
“We’ve had over 380 individual listed buyers across the sale which is incredible and it’s a figure that is only going to increase as new buyers get drawn into the market through the opportunities that the passed in lots represent.
“There is no disputing that there were selective elements to the market, but if you had a horse that presented well, vetted well and you were prepared to meet the market, you were very well rewarded, and an overwhelming majority of vendors and breeders are going home really very happy.
“The top of the market especially was very strong, on par with last year’s record renewal in terms of horses to sell for $300,000 and above.
“When you look at the buying bench, there is such an enormous spread, with buyers from every state in Australia to Hong Kong, Japan, New Zealand, Singapore, South Africa, UAE, there’s been interest from far and wide which is testament to the regard in which the sale is held by the market.
“I would like to thank the buyers for their diligence in working through the catalogue and ultimately, for their support of the sale as purchasers.
“Now our focus heads to Melbourne for the Premier Sale. It’s a fantastic catalogue with a lot of high-quality horses and we will be continuing to work hard to ensure the success of that sale.’’
Dynamic Syndications Owners and followers are aware that Dynamic Syndications went to the sale with hopes to add further quality lots to our team of 16 yearlings we have already secured in 2023.
However, from our small shortlist which represented only 6.5% of the catalogued lots which qualified for inspection based upon genetic pedigrees, unfortunately those individuals on type or veterinary inspection (or both) didn’t pass our rigorous selection criteria.
So, we put the que in the rack before the sale started and are waiting for the Melbourne Premier Sale (2022 Average $157,694; Median $140,000) which commences on the 5th March, where the standard is traditionally stronger and we have had so much success buying through that salering.
Importantly we have left some ammunition to fire at the Easter Yearling Sale (2022 Ave $399,700; Median $300,000) later this year, where there is likely to be some good opportunities.
BELOW: Hear from ADAM WATT at the Inglis Sales Complex
Dynamic Syndications at Inglis Classic 2023.mp4 from Dynamic Syndications on Vimeo.
Whilst the statistical data was down off last year’s record Classic Sale figures, the sale was strong for horses from this sub-sector of the marketplace, especially in the current economic climate.
Undoubtedly there will be some racetrack stars emerge from the catalogue but under our buying criteria, we will only buy the best of the best that meets all our strict criteria and market valuations.
Price is never our motivation for buying a yearling.
Only high-quality horses are selected by Dynamic Syndications.
We leave the rest for others to consume.
2023 CLASSIC YEARLING SALE STATISTICS - BOOK 1 (2022 Record figures in brackets)
Lots catalogued:
|
690 (660)
|
Up 30 Lots
|
4.5%
|
Lots Sold:
|
550 (545)
|
Up 5 Lots
|
|
Clearance Rate:
|
85% (90%)
|
Down
|
(-5%)
|
Average Price:
|
$103,363 ($122,612)
|
Down $19,249
|
(-15.7%)
|
Median Price:
|
$80,000 ($100,000)
|
Down $20,000
|
(-20.0%)
|
Top Price:
|
$550,000 ($825,000)
|
Down $275,000
|
(-33.3%)
|
Gross:
|
$56,849,500 ($66,823,500)
|
Down $9,974,000
|
(-14.9%)
|