Social Media

Rivercrest Park Stud

Playing with the 3D setting with Hvasstan ... See MoreSee Less

5 days ago

Rivercrest Park Stud

This is a good read about the 2019 Perth Yearling Sales....

Dear Industry Participant,

I have combined the results of Book 1 and Book 2 to give an accurate assessment of the 2019 Perth Yearling Sale.

A total of 310 (302 in 2018) yearlings were catalogued of which 30 (9.6%) withdrawn leaving 280 offered for 213 (76.07%) sold with 67 passed in under the vendors reserve.

The gross for the sale was $9,397,500, a reduction of $2,262,500 on the 2018 sale (19%) when 256 lots were sold and the sale average dropped by only $1,606 (3.5%) however the clearance rate dropped 15.3% which is of concern.

Eastern Sates buyers purchased 26 lots (16%) of which only 5 were by WA based sires for an outlay of $1,581,000 (16.5% of total turnover) which suggests some of the cost of bringing them here maybe better spent on local promotions.

Singapore accounted for 3 lots by one buyer and one lot was sold to a UK buyer.

69 yearlings were sold by ES based sires for a gross of $4,426,500 for an average of $64,152 leaving 144 yearlings sold by WA based sires grossing $4,971,000 for an average of $34,521.

It is interesting to note the disparity narrowed 21% from 2018 when 48 yearlings by ES based sires averaged $81,448 compared to WA based sires which averaged $37,442 down 7.78% this year.

It is difficult to pinpoint the reason for the decline this year when sales in the ES have roughly maintained their 2018 figures. Our stakes remain sound and even more attractive for Westspeed winners.

I found I had many buyers wanting to pay $20-$30,000 for a yearling, not understanding the cost of production can be anything from $20,000 to $30,000 depending on service fee paid.

There was certainly not enough yearlings from well performed young mares from black type families. Only the breeders can turn this around.

I have seen little evidence of significant upgrading of mares on the back of a sale that was the strongest for many years in 2018.

Book 2 fell away dramatically and I found many vendors seemed to panic and reduce realistic reserves to well under what the yearling was worth and I feel would have effected a sale has they passed in as there were many occasions of only one genuine bidder who would have negotiated.

WESTSPEED: I did make mention in last years sales report of the urgent necessity to re-vamp the Westspeed Scheme to support WA based sires and WA bred yearlings however nothing has changed.

The powers that be agree change is necessary however it appears industry stakeholders are unable to come to an agreement of what changes should be made.

Any such changes must be made prior to mare owners making stallion bookings for the 2019 season when they do commence confirming to ES sires, usually from 1st April.

Whilst not discouraging the use of ES sires there has to be an adjustment in the bonus pay outs for ES sired winners as opposed to WA sire winners to support the local industry and the scheme extended to 4 year olds.

What does surprise me is the fact that at the Inglis Classic Sale WA trainers saw fit to purchase 23 yearlings for a spend of $1.088M at an average of $47,304 all ineligible for Westspeed just one week before our sale when I would have thought Westspeed qualified yearlings in that price range would have been far more attractive and if they were unable to fill orders locally still had Melbourne, Adelaide, Sydney Easter and Gold Coast June to top up.

13 of the 23 were purchased for less than our overall sale average and 16 at or less under Book 1 average, 8 were purchased for $25K or less.

This would further suggest Westspeed in its current form is simply not working.

SALES COMPLEX: A massive thank you must go to Gerry Harvey for his willingness to provide the state with a first class selling venue on what must be a questionable investment however an affirmation of his dedication of the thoroughbred industry in this country.

Beautiful boxes, just a shame more emphasis was not placed on adequate parade areas – only needed another three or four metres between the rows of boxes and the boundary to allow multiple parades to take place safely where horses could be walked past each other – an opportunity lost.

Hopefully a lesson will have been learned from the overcrowding of the temporary selling auditorium which I understand was erected on the pad for the proposed new building and extend by 25% - not too late – simply a matter of increasing the size of the pad prior to construction. ... See MoreSee Less

3 weeks ago