Cover image courtesy of Inglis
At A Glance
With the integration of Book 2 (the Highway session) into a single book sale this year, a direct comparison of metrics is difficult, however at the close of trade on the final day the sale company reported that 592 lots (82 per cent) sold for an aggregate of $55,387,000, slightly down from last year at which the aggregate had surpassed $56,719,500 from 535 lots sold at a clearance rate of 85 per cent.
The average at the close of trade stood at $93,559, almost identical to the 2023 final Book 1 and Highway combined sale average of $93,877.
The median dropped to $70,000, a decline from the 2023 figure of $80,000.
The top lot on Tuesday was Lot 750, the half-sister to Fully Lit and The Novelist by first-season sire North Pacific, who sold for $420,000 to R Unicorn Stable, Rising Sun Syndicate and Satomi Oka Bloodstock (FBAA) from Glenlogan Park.
Much as they had in the previous days, Domeland Racing finished the sale as the leading buyer, spending $1,530,000 on 13 individual yearlings across the three selling sessions.
Capitalist finished trade as the leading sire by aggregate with a total gross of $2,644,000 from 25 to sell, while Extreme Choice topped the average (of stallions with three or more lots sold) with $275,000.
Sledmere Stud finished as the leading vendor by aggregate with a total gross of $2,932,000, while the debuting Riverstone Lodge were crowned leading vendor by average (with three or more lots sold) having sold eight yearlings for at an average of $190,000.
#1. Repeat buyers happy to invest as new faces pop up
Across the three days of trade at Riverside, there were a number of buyers who were happy to keep returning to the well and secure their next class of promising types.
Domeland Racing have been a force for opposing buyers to contend with from the outset, coming up as the winning bidder across 13 lots, parting with a total dollar value of $1,320,000, comfortably the highest volume of the buyers bench across the trade.
Syndicators Darby Racing, who have been enjoying a purple patch through the likes of their two iterations of the 'Big O', Overpass (Vancouver) and Ozzmosis (Zoustar), signed their name on the dotted line on a total of eight occasions, paying $730,000 for the privilege.
Hong Kong buyers were a consistent presence across the three days, particularly at the top end of the market, with the most active amongst the group being John Foote Bloodstock (FBAA). In totality, he made the winning bid on a total of eight occasions as well, paying $1,040,000 for his octet.
The other buyer to clear seven figures across the sale was Ohukia Lodge, who bought six individual lots at a collective cost of $1,365,000.
It wasn’t solely a case of repeat customers, with Inglis Bloodstock Chief Executive Officer Sebastian Hutch delighted at the diversity of names not only signing for lots, but placing bids.
“There was great engagement from a broad cross-section of buyers,” Hutch said. “We know that there are plenty of buyers going home without objectives fulfilled, which bodes well for future sales.
“There was great engagement from a broad cross-section of buyers. We know that there are plenty of buyers going home without objectives fulfilled, which bodes well for future sales.” - Sebastian Hutch
“We’ve had fantastic engagement from Hong Kong in this sale, a huge New Zealand representation, and I think there is going to be good international engagement at both Premier and Easter based on how plans are progressing at the moment.”
#2. Riverstone’s day to remember
There was no shortage of emotion throughout Tuesday for Riverstone Lodge’s Nick Taylor throughout the day, who had four lots going through the ring, with some major results propelling the first-time vendors to national breeding attention.
They had a colt by Written Tycoon (Lot 566) sell for $280,000, a result that would be eclipsed later in the day when their filly by Hellbent (Lot 649) was knocked down for $320,000.
Lot 649 - Hellbent x Rose Of Savannah (filly) | Image courtesy of Inglis
Taylor caught up with The Thoroughbred Report following the stellar day, talking through the gravitas such a session of selling holds for the new operation.
“It's massive for the farm, we were very hopeful the last day was going to be our biggest day,” he said on Tuesday.
“Throughout the week the horses have been incredibly busy. My team presented the horses in phenomenal condition the whole way through, so full credit to the guys I have working for me. A lot of them are friends, so it makes it even more special.
“It's massive for the farm. My team presented the horses in phenomenal condition the whole way through, so full credit to the guys I have working for me.” - Nick Taylor
“I'm really happy for my business partner, Alex, he's put a lot of faith and trust behind me early in the piece, and it's great to deliver and get the job done and for all my clients.
“I woke up this morning and it was very different for me. I've never experienced anything like this before
“I’ve worked for major consignors, Newgate, Kia Ora and Attunga but it's very different doing it for yourself. I was very hopeful.
Nick Taylor | Image courtesy of Inglis
“We definitely bought some strong horses here and tried to achieve good results, but you never know in the market and it was certainly a different experience for me, and luckily I've got the best team (behind me).”
Only one horse didn’t sell from the Riverstone draft, Lot 533, but the Bivouac colt will make his way to a very well-regarded, and local, stable.
“Bjorn Baker and Jim Clarke purchased the Written Tycoon colt Perfect Gym, and I said to them, ‘I'd love you guys to train the Bivouac colt for me.’
Lot 533 - Bivouac x O'Rachael (colt) | Image courtesy of Inglis
“I'll just let Bjorn and Jim and the team work out what they want to do with him.
“I'm so proud to come to the Inglis Classic Sale and deliver a product that those guys want to hone in on. They bought themselves a really nice colt. All the way through, he reminded me so much of Winning Rupert.
“They (Baker) trained Winning Rupert, he’s by the same stallion. For them to actually end up with the horse, it's pretty special.”
#3. Stellar stallions outpace average
With the dust (and hail) settling at Riverside following a spirited afternoon of bidding, some stallions finished the sale with some impressive metrics.
There is plenty to be said about the level of ease that Wootton Bassett (GB) has slotted into the Australian breeding industry, with the demand for his first Southern Hemisphere crop showing no signs of slowing down as we cross mid-February.
All seven of his lots offered were sold, clearing $1,020,000 and averaging $145,714, comfortably above the overall figure for all lots.
Wootton Bassett (GB) | Standing at Coolmore
Too Darn Hot (GB) was a key figure in this piece on Monday, and his deeds cannot be ignored, with seven of his nine to make it through the ring finding new homes, with a gross of $1,490,000 and an average of $212,857.
Extreme Choice, who has demand following him like a moth to a flame, was consistently sighted amongst the top lots and expensive purchases across the three days, with six from six selling, grossing $1,365,000 at an average of $227,500.
Another sire to churn along strongly throughout Classic was Hellbent, who had 12 of his 14 progeny change hands at a collective total of $1,390,000, averaging out at $115,833 across the lots.
#4. Rising Sun soars
Kosi Kawakami’s Rising Sun Syndications caused a stir when going to $420,000 to purchase Lot 750 by first-season sire North Pacific, with the filly being a half-sister to stakes-winning juveniles The Novelist (Written By) and Fully Lit (Hellbent).
Kawakami had never reached that deep into his pockets before, with the relatively new operation only syndicating horses since the turn of the decade.
Lot 750 - North Pacific x Sunlit (filly) | Image courtesy of Inglis
Often sighted around Victorian tracks, Kawakami, with the backing of clients in his native Japan, was able to dig deep to purchase this filly, who looks poised to carry residual breeding value with the depth of her immediate family after her career with Chris Waller finishes.
Kawakami spoke to The Thoroughbred Report after the purchase, to explain the way the operation is approaching a bustling marketplace, with their dual-investment strategy bolstering their diversity and attractability.
“We're basically targeting two markets. When we started, we got a lot of Japanese clients who wanted to buy yearlings.
“So we're basically choosing yearlings to sell to Japanese clients. Then also we bring in Japanese imports to appeal to the Australian clients who want to get their hands on Japanese imports, which not that many are available at the moment.
“We're trying hard to get more opportunity, but we don't just buy horses to sell. We don't import horses unless we are confident (in their ability).”
Asked about the influx of interest from Japanese buyers, Hutch pointed to the diligent work of Satomi Oka, who provides representation of the auction house to buyers from Japan as one factor in the increasing interest.
Satomi Oka | Image courtesy of Inglis
“Satomi has a fantastic reputation in Japan, there’s an ever-increasing respect for the Australian product amongst Japanese participants.
“We knew there was going to be good engagement from Japan, but if you had said to me prior to the sale that a Japanese investor would buy a $460,000 to $420,000 filly at the sale I would have been surprised, but there you go.
“It’s a pleasant surprise to us all and a credit to the work Satomi has done, going into later sales there looks to be good Japanese interest for both Premier and Easter, it’s a part of the market we have worked hard in.”
“Satomi (Oka) has a fantastic reputation in Japan, there’s an ever-increasing respect for the Australian product amongst Japanese participants.” - Sebastian Hutch
#5. Consistency across the board
Looking across the figures at the conclusion of the final day of trade, one element that stands out is the level of overall even nature of the product offered.
Riverstone Lodge’s crown as the top vendor saw them average $190,000, which is lower than the average required to take home that title in 2023, with Newgate Farm achieving an average sale price of $275,000 from their draft of six.
Looking over the higher end of the sires table, Extreme Choice did a stellar job (as he so often does) to average $275,000, but that number is a drop from his 2023 average of $324,167, despite selling the same amount of yearlings.
The $600,000 paid for Lot 325 on Day 2 eclipsed the sale-topping price from 2023. There was a decline in lots to sell for $400,000 or more from eight to three.
Across the board, there was a higher volume of lots sold below the sale average (366) than sold above it (218), as buyers extracted value from the market at an auction that carries a strong reputation for being a value-for-money proposition for owners, trainers and syndicators alike.
Hong Kong buyers certainly did their bit at the higher end of the market, with their 39 purchases averaging at $142,820, almost $50,000 more than the full sale average. Buyers from Western Australia and New Zealand also reached into their pockets, the former's average purchase price going at $114,750, and the latter at $104,027.
Top buyers
| Domeland Pty Ltd | 13 | $1,320,000 | $101,538 | $200,000 |
| John Foote Bloodstock (FBAA) | 8 | $1,040,000 | $130,000 | $200,000 |
| Ohukia Lodge | 6 | $1,010,000 | $168,333 | $300,000 |
| Lees Racing / Bahen Bloodstock | 6 | $985,000 | $164,167 | $220,000 |
| YLP Racing | 2 | $920,000 | $460,000 | $600,000 |
| Annabel Neasham Racing / William Johnson Bloodstock (FBAA) | 5 | $840,000 | $168,000 | $260,000 |
| McEvoy Mitchell Racing / Belmont Bloodstock Agency (FBAA) | 6 | $790,000 | $131,667 | $260,000 |
| Matt Vella Bloodstock | 6 | $780,000 | $130,000 | $275,000 |
| Darby Racing | 8 | $730,000 | $91,250 | $250,000 |
| R Yiu | 2 | $675,000 | $337,500 | $375,000 |
Vendors by aggregate
| Sledmere Stud, Scone | 25 | $2,932,000 | $117,280 | $360,000 |
| Arrowfield Stud, Scone | 31 | $2,750,000 | $88,710 | $280,000 |
| Widden Stud, Widden Valley | 39 | $2,669,500 | $68,449 | $200,000 |
| Vinery Stud, Scone | 25 | $2,385,000 | $95,400 | $260,000 |
| Lime Country Thoroughbreds, Blandford | 15 | $1,985,000 | $132,333 | $300,000 |
| Bhima Thoroughbreds, Scone | 15 | $1,865,000 | $124,333 | $375,000 |
| Mullaglass Stud, Scone | 16 | $1,775,500 | $110,969 | $420,000 |
| Newgate Farm, Aberdeen | 24 | $1,695,000 | $70,625 | $200,000 |
| North, Scone | 13 | $1,560,000 | $120,000 | $600,000 |
| Riverstone Lodge, Blandford | 8 | $1,520,000 | $190,000 | $320,000 |
Vendors by average (3 or more sold)
| Riverstone Lodge, Blandford | 8 | $1,520,000 | $190,000 | $320,000 |
| The Chase, Sutton Forest | 4 | $720,000 | $180,000 | $320,000 |
| B2B Thoroughbreds, Mittagong | 4 | $650,000 | $162,500 | $280,000 |
| Valiant Stud, Aberdeen | 7 | $1,020,000 | $145,714 | $300,000 |
| Glenbeigh Farm, Scone | 3 | $420,000 | $140,000 | $310,000 |
| Barador Stud, Martindale | 3 | $410,000 | $136,667 | $180,000 |
| Little Avondale Stud, Masterton, NZ | 3 | $410,000 | $136,667 | $150,000 |
| Lime Country Thoroughbreds, Blandford | 15 | $1,985,000 | $132,333 | $300,000 |
| Robyn Wise, Darling Downs, Qld | 3 | $395,000 | $131,667 | $320,000 |
| Kia Ora Stud, Scone | 3 | $380,000 | $126,667 | $240,000 |
Sires by aggregate
| Capitalist | 25 | $2,644,000 | $105,760 | $300,000 |
| Written Tycoon | 14 | $2,165,000 | $154,643 | $360,000 |
| So You Think | 18 | $1,722,500 | $95,694 | $240,000 |
| Farnan | 16 | $1,685,000 | $105,312 | $300,000 |
| Ole Kirk | 17 | $1,660,000 | $97,647 | $210,000 |
| Harry Angel | 13 | $1,570,000 | $120,769 | $300,000 |
| Maurice | 16 | $1,535,000 | $95,938 | $200,000 |
| Too Darn Hot | 7 | $1,490,000 | $212,857 | $600,000 |
| North Pacific | 14 | $1,483,500 | $105,964 | $420,000 |
| Hellbent | 12 | $1,390,000 | $115,833 | $320,000 |
Sires by average (3 or more sold)
| Extreme Choice | 6 | $1,365,000 | $227,500 | $320,000 |
| Too Darn Hot | 7 | $1,490,000 | $212,857 | $600,000 |
| Justify | 7 | $1,310,000 | $187,143 | $420,000 |
| Zoustar | 5 | $840,000 | $168,000 | $280,000 |
| Snitzel | 3 | $500,000 | $166,667 | $200,000 |
| Street Boss | 3 | $495,000 | $165,000 | $375,000 |
| Written Tycoon | 14 | $2,165,000 | $154,643 | $360,000 |
| Wootton Bassett | 7 | $1,020,000 | $145,714 | $240,000 |
| Per Incanto | 5 | $690,000 | $138,000 | $160,000 |
| Deep Field | 4 | $510,000 | $127,500 | $260,000 |
