NEWS
Tattersalls Book 2 ends with increase in total sales
Posted: Wednesday, October 14, 2009 7:49 PM
by Pete Denk
Book 2 of the Tattersalls October yearling sale ended on Wednesday with a 4.5% increase in total sales.
Average price for the three sessions was down 12.2% at $56,621 (33,936 guineas) and median dropped 13.8% year-to-year to $41,711 (25,000 guineas), but Tattersalls Chairman Edmond Mahony was pleased with the results.
“It seems extraordinary to be able to reflect on Books 1 and 2 of the October yearling sale in such positive terms, bearing in mind the continuing economic uncertainties, but the strength of both sales has been remarkable,” Mahony said. “The quality of the yearlings has been a key factor for which we must thank our vendors, and the major buyers who made last week such a success have again been active at the top of the Book 2 market. The sustained demand at all levels and a clearance rate in excess of 80% have been further positive aspects to take out of the sale.”
Tattersalls reported 197 horses as sold on Wednesday from 237 offered for total sales of $10,807,385 (6,477,500), an average of $54,860 (32,881 guineas), and a median of $41,711 (25,000 guineas).
That brought the three-day total to 606 horses reported as sold from 733 offered for $34,312,508 (20,565,500 guineas), a 4.5% increase from Book 2 last year. Average price declined 12.2% to $56,621 (33,936 guineas) and median dropped 13.8% to $41,711 (25,000 guineas).
Despite those relatively modest declines in average and median, Book 2 saw its buy-back rate drop from 29.2% last year to just 17.3% in 2009.
“In addition to the domestic demand, the support from throughout Europe and further afield has been crucial and has confirmed the enduring global appeal of the Tattersalls October yearling sale even in these difficult times,” Mahony said.
Shadwell Estate Co.'s Angus Gold signed for Wednesday’s session topper, a colt by Medicean out of the Rainbow Quest mare Navajo Rainbow for $367,059 (220,000 guineas).
Consigned by Bill and Tara Dwan's The Castlebridge Consignment, the half brother to the Ascot stakes placed two-year-old Navajo Chief provided his owners with a massive windfall.
Buckinghamshire-based agent Will Edmeades, acting on behalf of a syndicate made up of staff from Prince Khalid Abdullah's Juddmonte Farms, purchased the colt for $25,766 (16,000 guineas) at the 2008 Tattersalls December foal sale.
Book 3 of Tattersalls October begins Thursday.
Pete Denk is sales editor of Thoroughbred Times
