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Inglis Easter Yearlings Day-1: Average Down 33%
Due to a power outage, the opening session at yesterday's Inglis Easter Yearling Sale was cut short after lot 151 (of the catalogued 180). To that point 91 yearlings had sold for $20,655,000. As expected, the impact of the global financial crisis saw the average to that point of $226,978 down 33% from last year's Day-1 figure of $338,737. Inglis managing director Mark Webster commented: "This has been the trend right through the sales season & buyers have secured value like they haven't done for many years. Having said that, there are many other sales companies who would love to average $226,000: it's still a fair result in the current climate. The absence of some significant players in the top end of the market saw a reduction in the number of 7-figure yearlings, as has been the case with other sales this year. A significant number of private sales are being negotiated after the market re-adjustment today."