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UK Tatts Book 2 Final Average Down 24%

Thursday, 16th October 2008

Overall during the 3 sessions at the Tattersalls October Yearling Sale Book 2, 509 lots sold for a cumulative 19,672,700 guineas (A$43.28m) which was "around 15% short of last year's figure for a smaller catalogue," commented racingpost.co.uk. The cumulative average of 38,650 guineas (A$85,000) "was around 24% down on last year's figure of 50,605 guineas (A$111,000)". The final median was 29,000 guineas (A$64,000). At the conclusion of last night's Book 2 Sale, Tattersalls chairman Edmond Mahony commented: "By common consent Book 1 of the Tattersalls October Yearling Sale produced a remarkable set of figures, considering the extraordinary financial climate we find ourselves enduring; but it would have been unrealistic to expect complete immunity from the global financial crisis. Rarely, if ever, have the financial markets experienced this sort of turbulence & in the context of such conditions the 3 days of Book 2 have demonstrated surprising resilience. Positive aspects have included 2 lots comfortably exceeding the previous record price for the sale & solid commercial horses fetching good money from start to finish. Inevitably, however, the market has experienced a significant correction, despite major contributions from those who made Book 1 such a success & a wide cross-section of buyers from throughout Europe. It is never easy to respond to a falling market, but our vendors have adjusted to the prevailing conditions with commendable realism."

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