Cover image courtesy of Inglis
Ahead of the 2024 Inglis Premier Yearling Sale, The Thoroughbred Report caught up with Inglis CEO - Bloodstock Sales, Sebastian Hutch, to discuss expectations for the event.
The Inglis Premier Yearling Sale is scheduled to run from Sunday, March 3 to Tuesday, March 5, concluding with the Showcase Session at the Oaklands complex. A total of 800 yearlings are catalogued, with 560 in the Premier session and 240 in the Showcase session.
Hutch highlighted the sale's track record of producing star gallopers, citing examples like The Everest winner Think About It (So You Think {NZ}), purchased for $70,000 at the 2020 sale, and Griff (Trapeze Artist), winner of the G1 Caulfield Guineas, bought for $80,000 in 2022.
Gallery: Some of the high-class Inglis Premier graduates, images courtesy of The Image Is Everything
According to Hutch, these success stories have elevated the 2024 Inglis Premier Yearling Sale onto the radar of many buyers. He stated, “We’re delighted with the engagement of the Inglis Premier Yearling Sale. Inglis has had interest from prospective buyers about this sale for an extended period of time. I think there are a certain number of sales in Australia that every market participant takes seriously, and the Inglis Premier Yearling Sale is obviously one of them.
“This sale has a great record of producing star racehorses with consistency. There are a lot of good vendors and breeders represented in the catalogue.”
“This sale has a great record of producing star racehorses with consistency. There are a lot of good vendors and breeders represented in the catalogue.” - Sebastian Hutch
Top end expected to remain strong
As has been observed with most Australasia sales so far, the top end has remained resilient, while the middle and lower-end markets have encountered challenges. However, Hutch expresses confidence in this year’s catalogue, noting comparable quality to last year and possibly even more top-end offerings.
Approaching the sale with realism, the Inglis team aims to secure the best possible deals for the supportive vendors. Hutch states, “We’re pleased with the catalogue. Obviously, you can never have enough good horses in a sale, you always want more.
“I think there are plenty of horses here for those buyers shopping in the value-end of the market to be bought. However, we feel the top end of the sale feels a lot thicker than what it felt at the Inglis Classic Yearling Sale in February.
“It feels like there are more nice horses, by the right stallions with the right pedigrees in the top end. So, we’re certainly expecting interest in those sorts of horses to be positive. But we’re expecting this sale will keep in line with other sales earlier in the year and be a buyers’ market.”
“It feels like there are more nice horses, by the right stallions with the right pedigrees in the top end. But we’re expecting this sale will keep in line with other sales earlier in the year and be a buyers’ market.” - Sebastian Hutch
Added incentive?
With yearlings from the 2024 Inglis Premier Yearling Sale eligible for the Inglis Race Series offering $12,550,000 in prizemoney and bonuses, including the Inglis Pink Bonus series and the Inglis Xtra Bonus Series, there’s an added allure for buyers. Hutch expresses optimism, “It is exciting for us that at the start of the new racing season in August, people who have purchased Inglis graduates last year will get the chance to race for $100,000 maidens through the Inglis Xtra Bonus Series.
“I think that is exciting for us and exciting for buyers and gives them extra incentive to participate at the Inglis Premier Yearling Sale.”
Sebastian Hutch | Image courtesy of Inglis
He further adds, “The Pink Bonus has been well-received. By Saturday afternoon we would have distributed $1.8 million through that scheme. We’ve had Pink Bonus eligible runners in every race for which a bonus applies. Lots of positive anecdotes of people getting involved in the market because of this bonus and the schemes. Those sorts of things and feedback is important to us and hopefully those incentives can continue to build a lead to good results for vendors and happy purchasers, who keep coming back.”
