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Goffs Yearlings Day-2: Average Down 28%

Wednesday, 1st October 2008

Overall on Day-2 at the Goffs Million Sale, "trade at the top end of the market improved on Monday's opening session, but it was still some way adrift of recent renewals," reported racingpost.co.uk. "The session took place after another day of grim economic news" & "turnover for the day of nearly €13 million (A$22m) was down (35%) on last year's figure of over €20 million (A$42m). The median dropped 50% from €80,000 (A$136,000) to €40,000 (A$68,000) "indicating a very polarised market," while the average dropped 28% from nearly €118,000 (A$200,000) to €84,197 (A$143,000). "While the top yearlings were selling away on a relatively comparable level to previous years, it was very tough going in the middle market (as evidenced by the median figure) & it was another hard day for vendors & pin-hookers looking to recoup what they paid for horses last November."

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