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Inglis Easter Yearlings: Final Average Down 8%
At the conclusion of Session 1 at the Inglis Easter Sale, 364 yearlings sold (80%) for a cumulative $80,435,000 at an average $220,975 & a median $160,000. Inglis managing director Mark Webster summed up: "Overall we are down 8% on last year & while it's not what we might have hoped for, it's not too bad given we still had an average topping $220,000. It's a sale where you could say buyers won on some lots & vendors won on others, so I think it's been a fair sale in that regard. It's a totally different mix in terms of the buyer line-up for this sale than we had 2 years ago. Our leading buyer this year spent $4 million, but in 2008 we had 2 buyers spend $40 million between them. I think it is a challenge for not just Inglis as a sales company, but for the industry as a whole, to find new buyers who are prepared to buy at the top end of the market."