Blueblood colts take a back seat as Easter sale transcends racing industry

The blueprint for how Australian thoroughbred auction houses determine key metrics around yearling sales is about to be rewritten in a way that may never be seen again.

A typical Australian Easter Yearling Sale is bankrolled on a demand for blueblood colts as a prime mover for investment.

Of the 26 million-dollar horses at Easter in 2023, 16 of them were colts. In 2022, the gender split for seven-figure lots was 14-6 in the colts’ favour.

But Inglis is bracing itself for the script to be flipped during the second day of selling and it’s all because one of the most significant yearlings to be ever auctioned in Australia is a filly.

Of course, that filly is Winx’s first foal and the eyes of the racing world have been on her every move since it was announced she would be sold at public auction as part of Coolmore’s draft.

Her presence has not only transcended racing’s bubble but also promises to change the dynamics of what underpins an Inglis Easter catalogue that attracts buyers from around the world.

“In every year, particularly at this sale, there are horses that get catalogued that you just look at and go ‘wow’,” Inglis Bloodstock chief executive Sebastian Hutch told The Straight.

“Generally speaking, it’s colts that are drivers of this market ordinarily because of their stallion potential.

“And we’ve had instances over the years where we sell horses for a lot of money.

“It was only two years ago that we sold Sunlight’s full brother (who now races as Kandinsky Abstract) for $3 million.

“They are extraordinary amounts of money in any context and not just in the context of a yearling at a horse auction in Australia.

“But this year is different. It’s really difficult to find instances where a female offspring of a mare of this quality and comparative standing in any jurisdiction would be offered for sale.”

Hutch says Inglis has been conscious of the exposure the Pierro filly has generated but the company has been at all times mindful of its obligations to other vendors and he is confident they can feed off the publicity.

“It’s something we’ve been sensitive to but certainly I think most vendors have been more than aware of the situation,” he said.

“But the simple fact of the matter is that the sale was featured on the six o’clock news across all the major Australian television stations last Sunday week and that just wouldn’t happen ordinarily.

“The simple fact of the matter is that the sale was featured on the six o’clock news across all the major Australian television stations last Sunday week and that just wouldn’t happen ordinarily.” – Sebastian Hutch

“When that enhances the profile of the sale, ultimately I think vendors are going to be the beneficiaries of that.

“Obviously she attracts a lot of the attention but right the way through the catalogue, on every page is something recognisable.”

Five hundred lots have been catalogued ahead of two days of selling on Sunday and Monday.

There are progeny of 65 individual sires represented, headed by I Am Invincible with 44 entries, Snitzel (40), Zoustar (36), Written Tycoon (31) and Wootton Bassett (27).

Apart from Winx, other progeny of well-known race mares include Booker, English, First Seal, Hasahalo, Hips Don’t Lie, Melody Belle, More Joyous Shillelagh, Spright, Snitzerland, Stay With Me, Sunlight, Unforgotten and Viddora.

Siblings to 175 stakes winners will be offered.

In the past six years, there have been 16 Group 1-winning colt graduates of Easter, who are now making their way at stud.

That alumni includes The Autumn Sun, Trapeze Artist, Alabama Express, Home Affairs, Super Seth and Russian Revolution.

Easter’s guessing game – where will the bidding stop for Winx’s daughter?

Records are tipped to fall but putting a ballpark figure on the first foal from the legendary Winx remains an exercise in supposition.

The StraightWarwick Barr

They were by no means the most expensive horses of their year and Hutch says there will be similar opportunities in 2024 as Australian yearling sales experience a minor downturn compared to the past two years.

“In my commentary on the market, it’s probably important to try and give context to what I might perceive to be a more challenging year,” he said.

“We’re coming off a year in 2022, which is the highest-grossing thoroughbred auction in the history of Australian bloodstock and 2023 was the second highest-grossing year.

“You’re coming off unprecedented highs so where the market sits today is off the height of 2022 and 2023 but it’s very, very favourable relative to years prior to that.

“So it’s been more difficult. It has a capacity to get significantly more difficult but it’s not as if we’ve reached some sort of nadir or anything like that.

“The market is still in a very healthy state or position, relatively speaking.

“But there’ll be people who would like to buy but might not necessarily have a need to buy or an urgency to buy which might not have been the case in previous years.”

Easter edge: Peter O’Brien on the Winx filly and shopping smart

Segenhoe’s Peter O’Brien chats to Jessica Owers about the ups and down of the yearling market, Winx’s much-anticipated filly and the recipe for success at the Inglis Easter Yearling Sale.

The StraightJessica Owers

Expanded catalogues have been a theme throughout the 2024 Australian sales season and Hutch says this has also contributed to a softening market nd slumping clearance rates.

“Certainly at every sale this year the horses, typically in the second half of the book, have found it more difficult,” he said.

“It was a huge amount of choice for people participating in that part of the market and no shortage of supply.

“This sale is a little bit different in that primarily it’s catering towards a price that is above the median of any other sale.

“But it won’t be immune from the challenges that every other sale has faced.”