A colt by Encosta de Lago sold for $2,071,953 ($2.2-million Australian) on Monday during the second of four selected sessions at the William Inglis and Son Australian Easter yearling sale at Newmarket. 

Total gross receipts through two days totaled $77,825,390 ($82,635,000 Australian) with 240 yearlings selling for an average price of $324,272 ($344,313 Australian). 

Consigned by Yarraman Park Stud, agent, the Encosta de Lago colt out of stakes winner Oceanfast, by Monde Bleu, is the top-priced horse of the sale so far. Purchased by Anthony Cummings, the bay colt is a full brother to 2005 Australian champion three-year-old filly Alinghi.

“There’s pretty strong competition for a lot of horses here and therefore you have to pay the money if you want to get them,” Cummings said.

Darley, New South Wales, went to $1,035,976 ($1.1-million Australian) to secure a bay Redoute’s Choice filly, the highest-priced filly of the session. Consigned by Bellerive Stud, agent, the filly is out of the Group 2-placed winner Hanky Panky, by Anabaa, and is a half sister to stakes winner Fun In Flight.

Inglis Managing Director Mark Webster said he believes the sale continues to set the industry standard.

“There has been a real buoyant feel across the whole of the sale grounds this week, and we had another very good turnout today,” Webster said. “Today’s session built on the strong start to the sale and there continues to be good competition across all sectors of the market.

“It was also pleasing to see yesterday’s clearance rate of just under 85% jump to over 90% after a number of those horses passed in on day one were sold privately. That’s another positive sign of how well the sale has gone so far.”

After the first two days of the sale, Tyreel Stud is the leading consignor by average with seven yearlings reported as sold for an average of $754,110 ($800,714 Australian) while Coolmore is the leading consignor by gross receipts with 24 yearlings reported as sold for $7,953,475 ($8,445,000 Australian).

Ingham Bloodstock is the leading buyer after two sessions with 14 purchases for $8,857,600 ($9,405,000 Australian).

The third session begins Tuesday at 11 a.m.

For hip-by-hip results, click here.