After the three-day Melbourne Premier Sale closed on Tuesday afternoon, Inglis reported the average price had jumped almost 10% to $78,627 compared to last year.

Inglis also reported 408 yearlings sold for $32.07 million.  “Although we catalogued 26 less yearlings in this year’s Session 1, the gross is up thanks to a healthy increase in the average price,” Inglis Managing Director Mark Webster said.  “It has still been a very selective market, which is shown in the results with the better types and progeny of the top sires selling well.

“And we expect this year’s clearance rate to push through 80% in the coming days.”

Two lots sold for $300,000 on Tuesday.  New Zealand agent Tony Pike was first to make that mark when purchasing Fairhill Farm’s colt by Not A Single Doubt from Euchre (Lot 365).  Nordic Racing & Breeding equalled that amount for the Redoute’s Choice – Glimmers colt (Lot 405) from Lauriston Thoroughbreds.

Buyers from South Africa (32 lots), Hong Kong (15), Singapore (12) and Japan (3) have all purchased more than they did at Melbourne Premier last year.  The total spend from Victorian and Western Australian buyers is also up from 2012.

David Hayes finished Session 1 as the leading buyer by aggregate with 8 yearlings for $1,285,000.  Hong Kong based Ricky Yiu, Triple Crown Syndications, Spicer Thoroughbreds and leading Victorian trainers Peter Moody and Mick Price were next in line among a solid buying bench.

Eliza Park topped the aggregate with 35 yearlings changing hands for $2,444,000.  Lauriston Thoroughbreds led the vendor list by average (3 or more sold) with 6 lots at $194,167.

Session 2 of the Inglis Melbourne Premier Sale, featuring 187 catalogued lots, commences at 11am on Wednesday.