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Goffs Weanlings Final Average Up 11.3%

Monday, 23rd November 2009

At the conclusion of the 4-day Goffs November Foal Sale (for which the catalogue had been reduced by a third from last year) 474 weanlings had sold for €10,551,200 (A$16.882m) which was up 4.9% on 2008’s final figure. Equally impressively, the final average of €22,260 (A$35,600) was up 11.3% & the final median of €13,000 (A$20,800) was up 30%. The final clearance rate was 66% (last year 50%) & Goffs chief executive Henry Beeby declared: “What a difference a year makes! The contrast between 2008 & 2009 has been palpable in terms of atmosphere, buzz, statistics, clearance rates & the overall attitude of all the players attending horse auctions. Twelve months ago the industry was facing the bleakest of times, as the worst effects of the worldwide economic downturn impacted on the bloodstock world. The real worry in November 2008 was fear of the unknown as no one really knew how long, how deep & the shock of the fall resulted in some form of paralysis at the sales, which manifested itself in frighteningly low clearance rates as the autumn progressed. Happily the bloodstock world is a remarkably resilient & hardy world, populated by a bunch of pragmatic optimists who simply put their heads down & focused on what we know & can influence rather than what is out of our hands. That approach resulted in better than expected yearling sales, which in turn flowed through to a really solid foal trade at Goffs this week.”

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