Daily News Archive

Search nearly 75,000 unique Daily News articles.

Daily News Subscription

UK Tatts Book 3 Final Average Down 33%

Monday, 20th October 2008

Overall at the Tattersalls Book 3 October Sale, 271 yearlings sold (from 414 offered) for 2,815,300 guineas (A$6.193m). The final average of 10,389 guineas (A$22,800) was down 33% on last year, while the median of 7,000 guineas (A$15,400) was down 36%. Tattersalls chairman Edmond Mahony commented: "Putting this year's Tattersalls October yearling trade into context, the total spend through Books 1 to 3 has been just over 72 million guineas (A$158m) which, although a fair way below the record breaking 2007 & 2006 figures, places it only marginally below 2005. Bearing in mind the current economic climate, the industry can be satisfied with the resilience of the market when one considers that the FTSE (London) & other stock markets are currently around 30% lower than their Autumn 2005 levels & we hover on the brink of recession. The 72 million guineas has, however, been spread more thinly than in 2005. In addition to the very different economic conditions, another major change between the 2005 October Yearling Sale & this year's is the number of yearlings being offered. Between Books 1 to 3 this year we have catalogued 1,942 yearlings whereas we catalogued 1,556 for the equivalent sales in 2005. Even in last year's market, the weight of numbers had begun to take its toll & with a backdrop of global financial turmoil we could not expect to come close to such figures. What we have seen, however, has been sustained demand throughout Books 1 to 3 for quality individuals & for that we should be grateful. Yes, the market has been selective; and yes, it has adjusted significantly; but the Book 3 clearance rate has been higher than last year & the better yearlings have attracted plenty of attention. Recent promotional visits to smaller markets such as Serbia have paid dividends & in these testing times we will continue to spread the net as far & wide as possible, exploring new markets & maintaining existing ones, in conjunction with British Bloodstock Marketing."

« Previous
Return to
20th October 2008 News
Next »