Cover image courtesy of Darley
Across the nine yearling sales in Australia and New Zealand, there were 4027 (2025: 4114) yearlings sold at an average price of $155,617 (2025: $149,000). The gross sales for the nine sales also lifted to $626 million, up from $614 million in 2025.
Note that yearling sale prices don’t include GST, so GST has also been removed from any service fees mentioned in our analysis.
There was a slight drop from 2025 to 2026 in the number of lots by first season sires sold, falling from 687 sold in 2025 to 587 sold in 2026, representing 15% of all lots sold so far in 2026.
The average price for a yearling by a first season sire fell in 2026, perhaps reflecting the market’s lower capacity for risk in uncertain times, or perhaps a reflection on the depth of first season sires available to the market in 2026. The number of first season sires who had at least one yearling sell also fell from 26 in 2025 to 21 in 2026.
Last year, three first season sires averaged more than $200,000, being Home Affairs, Stay Inside, and Sword Of State. In 2026, only one horse reached that benchmark, being Anamoe.
| 2025 | 5846 | 666 | 1066 | 4114 | $ 613,721,000 | $ 149,179 |
| 2025 FSS | 976 | 112 | 177 | 687 | $ 101,570,000 | $ 147,846 |
| 2026 | 5571 | 646 | 898 | 4027 | $ 626,669,000 | $ 155,617 |
| 2026 FSS | 791 | 86 | 118 | 587 | $ 66,412,000 | $ 113,138 |
Table: Comparison of 2025 and 2026 across the first nine yearling sales of the season
Using a production cost of $69,000, based on TTR’s own study during the winter of 2025 made up of $57,000 to raise a foal and $12,000 for a yearling preparation, only five first season sires returned an average profit to vendors across all their yearlings sold. The five stallions to achieve a profit where also the top five stallions by average price.
| Anamoe | 111 | 83 | 63 | $25,465,000 | $404,206 | 75% | $225,206 | $110,000 |
| Diatonic (Jpn) | 87 | 47 | 24 | $2,484,000 | $103,500 | 54% | $22,000 | $12,500 |
| In the Congo | 100 | 59 | 47 | $5,566,500 | $118,436 | 59% | $19,436 | $30,000 |
| Jacquinot | 109 | 77 | 55 | $6,470,000 | $117,636 | 71% | $18,636 | $30,000 |
| Profondo | 114 | 72 | 46 | $4,640,000 | $100,870 | 63% | $14,370 | $17,500 |
Table: Top five first season sires by return on investment in 2026
Anamoe is no surprise to anyone
Ole Kirk and Farnan broke new ground with their first yearlings, becoming the first First Season Sires to sell a seven figure yearling in Australia, and they achieved this feat in 2024. Home Affairs and Stay Inside followed suit in 2025, and in 2026, there was only stallion to achieve a seven figure yearling with his first crop, Anamoe.
Widden Stud sold Lot 781, a colt by Anamoe, at the Magic Millions Gold Coast Yearling Sale for $1.1 million to Ciaron Maher Bloodstock and David Redvers Bloodstock. He is the fifth foal of Listed winner Secret Trail (Denman). Her current 4-year-old is Spywire (Trapeze Artist), winner of six races and over $1.5 million, and the gelding placed in both the R.Listed Magic Millions Wyong 2YO Classic and R.Listed Magic Millions 2YO Classic. Her first two foals are also winners.
Anamoe | Standing at Darley Australia
Anamoe had three-quarters of his first crop head to a yearling sale with 83 of his 111 live foals catalogued somewhere. He made 63 sales for an average over $404,000, off a $110,000 service fee. By TTR’s calculations, this gave vendors an average return on investment of $225,000.
A Group 1 winner at two, three, and four, Anamoe stood at Darley Australia, who also had first season sire Paulele at their Victorian farm.
Anamoe, a son of Street Boss (USA), was crowned Australian Horse Of The Year during his career, and his nine Group 1 wins included a G1 Cox Plate, two Guineas (Caulfield and Rosehill) and the G1 Sires’ Produce Stakes.
Diatonic rewards Yulong's faith
Second on the table by return on investment is Yulong’s Diatonic (Jpn) whose first Australian crop were Northern Hemisphere timed, making his 2024 born foals his first Southern Hemisphere timed crop.
He stood for a fee of $12,500 plus GST, and achieved an average of $103,500 across 24 lots sold with a return on investment of just over $20,000 by TTR’s reckoning. This figure puts a certain level of awe around Anamoe’s figures, given he achieved 10 times this profit for breeders who took the, obviously, much bigger risk to support him.
Diatonic | Standing at Yulong Investments
Diatonic, a son of Lord Kanaloa (Jpn), was a tough racehorse in Japan, winning three Group 2 races and being Group 1 placed in his ten victories. Diatonic’s top lot was the Yulong-sold filly from Snapdancer (Choisir) who was purchased by Matt Laurie Racing/Willannah Park Bloodstock for $650,000.
The filly is the first foal of dual Group 1 winner Snapdancer, showing the faith Yulong has put into Diatonic by supporting him with quality race mares.
In The Congo leads Newgate trio
With an average return of investment of just over $19,000 across 47 yearlings sold, In The Congo led three first season sires for Newgate Farm. State Of Rest (Ire) came in sixth by average price across the sales season, selling 37 yearlings for an average of $87,700 off a fee of $40,000 plus GST.
With 43 yearlings sold at an average of $77,000, off a $25,000 plus GST fee, Artorius came in eighth of the 21 first season sires by average sales.
But the standout in the sales ring of the Newgate Farm trio was Snitzel’s G1 Golden Rose Stakes winner In The Congo. He’s a half-brother to unbeaten super mare Autumn Glow (The Autumn Sun) who made headlines all through the sales season, and maybe that helped his case a little too.
In The Congo | Standing at Newgate Farm
In The Congo was popular in his first season at a fee of $30,000 plus GST resulting in 100 live foals and 60% of those went through a sales catalogue. He achieved 47 sales at an average of $118,000 with a top lot of $625,000 for a colt purchased by Gai Waterhouse & Adrian Bott and Kestrel Thoroughbreds.
Sold by Newgate Farm at the Magic Millions Gold Coast Yearling Sale, the colt is the first foal from Stolen Jade (So You Think {NZ}). She won six times, including twice in Sydney and is from the family of dual Group 2 winner Magic Music (Loosen Up) and G2 Yallambee Classic winner Magically (Danehill {USA}).
Jacquinot popular for Widden
Widden Stud’s dual Group 1 winner Jacquinot proved himself on the track, placing in the G1 Blue Diamond at two, then winning both the G1 Golden Rose and G1 CF Orr Stakes at three. He was popular with breeders, standing at $30,000 plus GST in his first year and ended up with 109 live foals.
Of those, 71% were catalogued for sale with 55 yearlings finding a new home at an average price of $117,600. Jacquinot achieved an average return on investment of $18,600. His top lot was the $425,000 paid by Ciaron Maher Bloodstock and David Redvers Bloodstock for the colt who is the first foal from Bonheur (I Am Invincible). She won her maiden and was fourth in the G2 Thousand Guineas Prelude, and is a daughter of Group 1 winner Bonarta (Redoute’s Choice). This is the family of Paulele and Joliestar (Zoustar).
Jacquinot | Standing at Widden Stud
Widden’s other first season sire Bruckner retired to their Victorian farm in 2023, and his first yearlings saw 11 horses sold in 2026 for an average of $24,000 off a $10,000 plus GST fee.
Profondo adds a kiwi flavour to the top five
Just like last year when New Zealand based Sword Of State cracked the top five First Season Sires by average sales, Aotearoa’s only first season sire in 2023 rounds out the top five in 2026.
Profondo, a $1.9 million yearling himself, won the G1 Spring Champion Stakes at his third start, then kept knocking into Anamoe and Hitotsu during his autumn 3-year-old campaign. He stood his first season at Windsor Park Stud for NZ$17,500 plus GST and was popular with 114 live foals.
Of those, 63% were catalogued for a yearling sale on both sides of the ditch, and 46 of his yearlings sold for an average of NZ$100,900, resulting in a return on investment average of NZ$14,000.
Profondo | Standing at Windsor Park Stud
Profondo’s top lot was the Carlaw Park-sold filly who made NZ$425,000 to the bid of Astute Bloodstock (FBAA). She is the seventh live foal of unraced Songbird (NZ) (Black Minnaloushe {USA}) whose first foal is this filly’s G1 Thorndon Mile winning half-sister Stolen Dance (NZ) (Alamosa {NZ}).
Notably in 2026, there wasn’t a lot of precocious speed among the higher performing First Season Sires in the ring. Anamoe won a Group 1 at two, but improved as an older horse, while the other four to impress the yearling judges were all at their best as 3-year-olds.
Patience might be the name of the game with this crop, or perhaps a stallion who wasn’t as exciting in the sale ring will surprise everyone with his first 2-year-olds come October 2026.
