IT was more holding than highlights on day two at the Inglis Premier Yearling Sale, with the strength of the market shining though the clearance rate and increased average price.
The top lot was virtually half that of the opening session’s record-breaking Fastnet Rock $675,000 filly, that price shared at $340,000 by a Snitzel and Teofilo colt.
But on a day when six yearlings made or topped $300,000, the average of $104,047 levelled out the overall sales average to $115,625 at a clearance rate of 87 per cent.
That means the average is up 17 per cent at Premier on last year’s full sale average of $95,886 and day three’s final main session catalogue promises only stronger growth.
It’s the strength of the international buying bench, especially from Asia, that has underpinned the Premier bottom line.
Of the six $300,000-plus yearlings on day two, homes were found under names from South Africa, China Horse Club, China, Malaysia, New Zealand and Phil Sly from Melbourne with his Smart Missile filly through Aquanita (lot 154).
There have been 12 lots secured by Chinese investors for a total of $2,455,000, with the majority to stay in Australia to race.
The local industry has benefited out of interest from Chinese-based buyers, including YuLong Investment and RIFA Mustang Pty Ltd, recognising the gains to be experienced from buying and racing thoroughbreds in Australia.