A FIVE-day run that witnessed some activity that was reminiscent of the pre-recession era, a strong appetite for quality stock and an overall improved level of demand for stock resulted in a decent set of returns from the Tattersalls Ireland National Hunt Sale on Thursday evening.

Over the course of the all-encompassing sale both the top-priced foal and yearling were the most expensive to come under the hammer at this sale for a dozen years and they played their part in an aggregate of just over €12.1 million which was a 6% decline on last year. This was one of the lower aggregates of the last six years but this year’s catalogue was some 14% smaller than that of 2018.

The average for the entire auction was €16,600, which was fractionally down on last year’s high, but the median of €12,000 was a record and also going in the right direction was the clearance rate which jumped from 63% to 69%.

As ever the key part of the sale was the near four-day-long foal section and this was almost on a par with last year albeit the clearance rate being appreciably better. The number of foals to make at least €60,000 dropped by one to 20 but there was a surprisingly more noticeable fall in those reaching €30,000 or more with this number dropping from 126 to 107. This would more than have played its part in the drop in the sale’s overall average.

Clearance rate

The clearance rate for foals was reasonable, as it was for the entire sale, although any time a clearance rate comes in below 70% is a pointer to a market that is at times selective and uncompromising. However, that selectivity wasn’t quite as pronounced as last year.

It was also interesting to note vendors and purchasers reflect that there is just a shortage of proven sires at the moment which in turn is creating some polarisation of its own.

On the whole this was a perfectly solid edition of this sale and it was good to see the clearance rate move in the right direction from last year particularly after Sunday’s decidedly low-key beginning.

In his end of sale statement Tattersalls Ireland CEO Matt Mitchell commented: “The trade has been consistently strong this week. The buyers are focussed on quality in terms of pedigree and conformation, reflecting the same trend in the store market. Breeders who were fortunate to have what the market sought were well rewarded. We welcomed a large contingent of purchasers to Fairyhouse this week with robust domestic representation and an increased presence of U.K. and French customers”.