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UK Tatts Book 1 Final Average Down 4.54%
Overall the Tattersalls October Yearling Sale Book 1 concluded with 410 lots sold for a cumulative 49,821,000 guineas (A$109.6m) at an average 121,515 guineas (A$267,000) & a record median of 85,000 guineas (A$187,000). While the aggregate was down 19.61% (100 more lots sold last year), despite the world economic turmoil the average was only down 4.54% & the median was up 6.25%. Tattersalls chairman Edmond Mahony commented: "To say that Book 1 of the October Yearling Sale has exceeded our expectations would be something of an understatement. With turmoil in the financial markets throughout the world we, along with pretty well everyone else, approached this week with a certain amount of trepidation & to record an average & median all but matching last year's figures is a great result for all concerned. It would be wrong to suggest that the bloodstock market is immune from harsh economic realities, but at the very least Book 1 of the 2008 October Yearling Sale has demonstrated an enduring demand for quality horses. There have been a number of key elements which have contributed to the success of this week's sale, starting with an outstanding catalogue matched by the equally outstanding quality of the individuals. . . . . In addition the 4 Tattersalls Timeform Millions races have struck a chord with the trainers who have been active throughout the week & we have welcomed a truly international cast of buyers from throughout Europe & further afield. Above all, however, we must recognise & pay tribute to the extraordinary contribution of the big buying battalions at all levels of the market. Without doubt there will be turbulent times ahead as the bloodstock market adjusts in response to global economic influences, but the major players have ensured a robust market this week which should have a beneficial impact on Books 2 & 3 next week & the rest of the sales season here at Tattersalls."