Clearance, broad engagement key factors for Inglis Classic Yearling Sale

Inglis Bloodstock chief executive Sebastian Hutch believes a steady start to the yearling sale season has set a sound platform heading into the Inglis Classic Yearling Sale, which begins on Sunday.

Hutch says market conditions for Inglis feel largely unchanged from 12 months ago and he was encouraged by clearance rates and buyer engagement seen through Magic Millions and New Zealand Bloodstock preceding his company’s opening sale of 2026.

“I was at Magic Millions for each day but one, it felt like a good sale, not without its challenges, but it felt like a good sale,” Hutch told the Straight Talk podcast. 

“Clearance through the ring was better than what it was last year. They catalogued fewer horses and turnover was down $5 million. That’s a third consecutive year the turnover is down at that sale, but it felt like a good sale.” 

Hutch also took heed of what occurred at Karaka for the New Zealand Bloodstock Yearling Sale last week, which turned over NZ$95.685 million on top of the $212 million spent at the Gold Coast. 

“Their catalogue numbers were down and to some extent the results for both Magic Millions and NZB are not dissimilar to Easter last year,” he said. 

“We catalogued fewer yearlings, but turnover held steady. So, it’ll be interesting to see with a catalogue of 800 yearlings how we go here.”

Inglis cleared 80 per cent at Classic last year, generating $54.1 million in turnover in a result Hutch said helped set the tone for a successful season for the company, and he is confident the sale is at least as well prepared heading into 2026.

“We cleared well last year with good buyer engagement and it set the tone for a very good yearling sale season for us,” he said. 

“Conditions don’t feel significantly different to last year and we feel like we’ve prepared at least as well, if not better.”

Hutch again pointed to Classic’s broad appeal as a key strength, with the sale traditionally attracting a wider cross-section of buyers than any other Inglis auction.

“This sale engages a hugely broad group of people, including participants who haven’t been involved in any sale up to this point,” he said. 

“That’s largely driven by the price point. Last year we sold 241 yearlings for $50,000 or less, with another 68 that could have been bought at that level. 

“Trainers, traders, agents, syndicators – people looking for early types, stayers, or simply a good physical – it’s a very diverse buying bench.”

Buyer activity during early inspections has been encouraging, with Hutch noting strong on-ground engagement since Monday and solid appetite to buy across conversations in the lead-up to the sale.

“People don’t declare their intentions in advance, but inspections have felt good and the conversations suggest there’s a good appetite to buy,” he said.

With a finite domestic pool of capital, Inglis is relying heavily on international engagement, a strategy Hutch said has gained momentum over the past 12 months, again citing the recruitment of Nicky Wong to help attract overseas investors.

“Korean buyers will be at Classic for the first time in my time here,” he said. 

“Hong Kong engagement feels good, Malaysia will still be involved, and there’ll be strong participation from New Zealand trainers and traders.

“That international participation will be important in supporting turnover.”

Ultimately, Hutch said Inglis’ focus remained firmly on clearance and gross, with Classic providing an early indicator of broader market sentiment.

“We want to clear well and hit a reasonable gross,” he said. 

“Turnover is what reflects the level of money you’re facilitating into the market and the amount of risk you’re taking as an auction house.

“We’ve got good momentum, we’re proud of the market share we established last year, and we want to build on that in 2026. The real test will come when the sale wraps up on Tuesday night.”

The three-day Classic sale will start at 10am (AEDT) on Sunday, a day after the running of the $2 million Inglis Millennium at Randwick.