Cover image courtesy of Inglis
With a reputation as a good sale to buy trade horses, the Inglis Classic Yearling Sale of 2025 held market ground with the average of $94,367, slightly up on 2024’s whole sale average of $93,559, and similar to 2023’s average of $93,877. The median remained the same in both 2025 and 2024 at $70,000.
A trade sale
With almost every horse in the 2024 Inglis Ready To Race sale having been sold at a weanling or yearling sale, the vendors for that sale were active at Classic in preparation for the 2025 breeze up sales.
“Classic will always be popular with people looking to trade. It’s at a price point which is perceived to be accessible with a broad cross-section of yearlings from proven vendors. Buyers can find stock they can on-sell, and it’s a select sale with an expectation of an appropriate standard. We have strong interest in advance of the sale from people looking to trade through to our 2-year-old sale and others, or looking to acquire racehorses that they can trade through the trials,” said Inglis CEO Sebastian Hutch.
“The market for those types of (trade) horses was more competitive than many of our buyers expected and several were disappointed which is a reflection of the strong market in that area. We worked hard to create a strong buying bench for the sale, and to get the best results for our vendors. The overall results reflect on a job well done.”
| Blake Ryan Racing, Sydney | 21 | 9 | 8 | $ 951,000 | $ 118,875 | 3 |
| Baystone Farm, Gnarwarre, Vic | 16 | 3 | 6 | $ 1,520,000 | $ 253,333 | 2 |
| Nolen Racing, Benalla, Vic | 15 | 12 | $ 1,896,000 | $ 158,000 | 3 | |
| Lynton Farm, Baw Baw | 13 | 2 | 6 | $ 1,000,000 | $ 166,667 | 0 |
| Ohukia Lodge, Cambridge, NZ | 12 | 2 | 8 | $ 1,592,500 | $ 199,063 | 8 |
| Glenn Haven Thoroughbreds, Clarendon | 11 | 3 | 5 | $ 705,000 | $ 141,000 | 0 |
| Valiant Stud, Aberdeen | 9 | 1 | 3 | $ 278,000 | $ 92,667 | 0 |
| Hannover Lodge, Wilberforce | 8 | 6 | 0 | |||
| KBL Thoroughbreds, Beaudesert, Qld | 8 | 2 | 3 | $ 507,500 | $ 169,167 | 0 |
| Shane McGrath Bloodstock, Cranbourne, Vic | 8 | 4 | 3 | $ 1,390,000 | $ 463,333 | 8 |
Table: Leading Vendors by Draft Size 2024 Inglis 2YO sale (8 or more lots catalogued)
“With regards to the chemistry of the Classic Sale through to the 2-year-olds sales, we’ve typically had some excellent results for horses moving on this path to our own 2-year-old sale.
“There are a huge number of factors for traders who are trying to identify a horse as a suitable candidate for a breeze up sale. The horse needs the pedigree, profile, and physique, and be early enough to present for a breeze up in late September, as well as being of appeal to the domestic and international market. Last year, our buying bench was split 50/50 domestic and international.
“Historically, buyers at Classic were looking to export, and now there is a far greater cognisance of the domestic market with the top lots in the last couple of years staying in Australia.”
“Historically, buyers at Classic were looking to export, and now there is a far greater cognisance of the domestic market with the top lots in the last couple of years staying in Australia.” - Sebastian Hutch
The top two lots in 2024 sold to Yulong ($1 million for a Written Tycoon filly) and Clinton McDonald Racing ($750,000 for a Deep Field colt).
“Additionally, the Listed winning juvenile (Megastar Heart) who topped the New Zealand sale was a Classic yearling. It creates a happy owner.”
Listed Oxlade Stakes winner Megastar Heart (Star Turn) was sold by Fairview Park Stud at the Inglis Classic Yearling Sale for $120,000 to Solari Bloodstock, and re-offered at the New Zealand Bloodstock Ready To Run Sale by KB Bloodstock, selling for NZ$825,000 to Mr Pato Leung and Solari Bloodstock.
Sebastian Hutch | Image courtesy of Inglis
“There’s a huge amount of work that everyone does to identify suitable candidates for this sale and also from buyers looking for the breeze up sales. The level of expertise (among breeze up vendors) is improving all the time, and we work hard to get the right vendors at the Ready To Race sale.
“Those vendors will be active at Melbourne and Easter too. You’ve got to be involved it the market to a comprehensive amount, if you only go to a few sales, you’ll miss opportunities. There’s a big demand in this part of the market.”
| Westbury Stud | 65 | 18 | 36 | $ 1,741,000 | 0 |
| Riversley Park Ltd | 50 | 7 | 35 | $ 6,945,000 | 1 |
| Kilgravin Lodge | 39 | 6 | 23 | $ 3,410,000 | 2 |
| Ohukia Lodge | 28 | 2 | 21 | $ 4,670,000 | 8 |
| KB Bloodstock | 21 | 3 | 17 | $ 3,610,000 | 0 |
| Pertab Racing | 22 | 3 | 13 | $ 1,240,000 | 0 |
| Prima Park | 18 | 5 | 13 | $ 1,760,000 | 1 |
| Woburn Farm | 16 | 2 | 13 | $ 1,800,000 | 1 |
| BMD Bloodstock | 20 | 5 | 10 | $ 2,120,000 | 0 |
| Lilywhites Lodge | 17 | 7 | 10 | $ 1,091,000 | 1 |
| Phoenix Park | 13 | 2 | 9 | $ 1,360,000 | 0 |
| Regal Farm | 14 | 1 | 8 | $ 1,170,000 | 1 |
| Kiltannon Stables Ltd | 16 | 6 | 8 | $ 2,325,000 | 0 |
| Riverrock Farm | 12 | 3 | 8 | $ 2,020,000 | 0 |
Table: Leading Vendors by Draft Size 2024 NZB Ready To Run Sale (10 or more lots catalogued)
Ohukia Lodge reinvests in colts
Ohukia Lodge purchased eight colts at the Inglis Classic Yearling Sale for $905,000, and they will head to either the Inglis Ready To Race Sale or the New Zealand Bloodstock Ready To Run Sale. In 2024, they took 26 horses to the NZB sale, selling 21 for NZ$4.67 million, and another 10 to Inglis, selling 8 for $1.59 million.
“The nice horses had lots of competition and were hard to buy, but you just have to do your homework and find the ones that slip through the gaps to find value. We went over on a couple of ours but they were nice horses,” said Ohukia Lodge’s Jamie Beatson of the Classic Yearling Sale.
“We bought a couple of Cosmic Force colts. He’s a son of Deep Field and they like them in Hong Kong as they do the job up there, so we’ve targeted them. Hong Kong are the main buyers at the Ready To Run sales now, so we are buying for them really. It’s definitely what we have in mind, then the Aussies after that.”
Jamie Beatson | Image courtesy of New Zealand Bloodstock
Cosmic Force colt, Lot 9, is out of R-Listed Magic Millions Wyong Classic placed Aghna (Foxwedge) and he cost $130,000, while Lot 199 is the first foal of winning mare Etheridge (Roman Emperor {NZ}), who was purchased for $140,000.
"The Savabeel is by a proven sire and the full brother made $450,000 last year so he’s a bit of a steal. The full brother debuts in the Matamata Slipper on Saturday, so hopefully he can do something.” Ammirati (NZ) (Savabeel) runs in Saturday’s G3 Matamata Slipper and is a trial winner heading into the race. Their dam, Happily (NZ) (Pins) is a winning half-sister to Listed Wellesley Stakes winner Exuberant (NZ) (Savabeel).
“We also got a Hellbent, love him and we’ve had a bit of success with them in the last few years. The Written By was our pick of the lots we bought. The Harry Angel was bought on type, they like them in Hong Kong and was keen to snap one up, and the Toronado we didn’t pay a lot for, and again he’s a sire who does the job in Hong Kong. He was our best value buy. We will definitely go to Easter and might sneak over for the Melbourne sale too.”
| 395 | Ch | Colt | Written By | Lucient | Goodwood Farm, Murrurundi | Ohukia Lodge, NEW ZEALAND | $ 160,000 |
| 199 | Br | Colt | Cosmic Force | Etheridge | Carramar Park, Grose Wold | Ohukia Lodge, NEW ZEALAND | $ 140,000 |
| 242 | Ch | Colt | Harry Angel (IRE) | Gasolier | Sledmere Stud, Scone | Ohukia Lodge, NEW ZEALAND | $ 140,000 |
| 9 | B/Br | Colt | Cosmic Force | Aghna | Middlebrook Valley Lodge, Scone | J Carey / Ohukia Lodge, NEW ZEALAND | $ 130,000 |
| 430 | B | Colt | Hellbent | Miss Kingston | Cavallo Park Stud, Hawkesbury | Ohukia Lodge, NEW ZEALAND | $ 120,000 |
| 272 | B | Colt | Savabeel | Happily (NZ) | Waikato Stud, Matamata, NZ | Ohukia Lodge, NEW ZEALAND | $ 100,000 |
| 714 | B | Colt | Capitalist | Terminology | Newgate Farm, Aberdeen | Ohukia Lodge, NEW ZEALAND | $ 75,000 |
| 21 | B | Colt | Toronado (IRE) | Amore (NZ) | Middlebrook Valley Lodge, Scone | Ohukia Lodge, NEW ZEALAND | $ 40,000 |
Table: Ohukia Lodge purchases at 2025 Inglis Classic Yearling Sale
Kilgravin Lodge finds it tough
Kilgravin Lodge was a dominant force at the NZB Ready To Run Sale in 2024, selling 23 2-year-olds for NZ$3.4 million. They purchased two horses at Classic, a Star Turn colt for $135,000 from unraced mare Shaky Isles (NZ) (Shocking) who has produced two winners, and is a three-quarter-sister to G2 Adelaide Cup winner Surprise Baby (NZ) (Shocking). They also purchased an Ole Kirk filly for $60,000, and she is out of Group 2-placed Touch Of Mink (Not A Single Doubt).
“The market was tough. Normally, I’ve been able to buy at Classic. It’s one of my favourite sales,” said Eion Kemp.
“It was hard to find horses who were good enough on x-rays for trade and there was increased competition for those horses, with the Hong Kong buyers and syndicators having a little bit more budget than we had. With trade, the profit is in the buying and we were frustratingly close being underbidder on six or seven.
Gallery: The lots that were purchased by Kilgravin Lodge, images courtesy of Inglis
“We’ll head to Melbourne in a couple of weeks, then to Easter but the smaller catalogue there will make it hard for buyers, and we have people on the ground at all the other sales too.”
Kilgravin Lodge’s strategy for buying a filly for trade is unusual. “We’ve had good luck selling fillies, we sold the half to Kovalica for good money, and I think it’s a market that suit middle distance fillies. We always have one or two, as it gives the (2-year-old) draft another dimension, and some buyers do come just for fillies.
“It’s been a heavy Asian market for four to five years, but now that Macau and Singapore are gone, it’s worth thinking outside the box. Hong Kong can’t buy that many horses, so we need to look at the Aussie domestic market, and there are several guys in Melbourne who buy fillies with the good prizemoney for fillies races there.”
Eion Kemp | Image courtesy of Trish Dunell
Shane McGrath Bloodstock has strong presence
Debuting with a draft at the Inglis Ready To Race Sale in 2024, where he offered four horses, selling three for $1.3 million, Shane McGrath Bloodstock backed it up at Classic with eight purchases, spending $1.1 million.
“We will break them in and do a first preparation with them all. Some will go to Inglis, some to New Zealand, and some will be put into our trade program for the trials or the races, looking for a permit for Hong Kong,” said McGrath.
Shane McGrath | Image courtesy of Racing Photos
“Inglis did a fab job with getting buyers at the 2-year-old sale last year, while New Zealand is a bit later and suits a different style of horse. From a vendor point of view, the sire goes a long way at the breeze ups, but if you take them to the trials, it’s all about performance and ability. Ultimately we are judged by the track, and we’ve had good luck with sale to Hong Kong with plenty of return customers.
“At Classic, my focus was on sires with Hong Kong appeal, as it’s a big part of my business. Horses with size and scope are required, Hong Kong has a predisposition for a bigger style of horse with good athleticism, and they need to be crystal clear on x-rays and scope. For horses that jumped through all the hoops at Classic, the vendors got well paid. Those guys who know their product have great success.
“There’s no worse place than the ring to get it wrong, because the market will tell you. If the vet doesn’t stack up or the type isn’t right, you’re probably racing it yourself.”
And as for this year’s Classic sale? “It was very strong. I vetted a lot of horses and was active on about 30 horses in the ring. I thought there were plenty of horses at all levels. The Ready to Run market is getting a lot stronger and that only augers well for the yearling sales with yearling vendors benefitting from it. It helps the industry and is another outlet for everyone.
“The Ready to Run market is getting a lot stronger and that only augers well for the yearling sales with yearling vendors benefitting from it. It helps the industry and is another outlet for everyone.” - Shane McGrath
“On the complex, the place was busier than last year. I got there Wednesday morning and every day was busy, never a quiet spot, and always jostling for a parade position. A few people were negative leading into the sale, but I didn’t see that at the sale, and there was not much depression when you were in the ring.”
| 273 | Ch | Colt | All Too Hard | Happy Event | Willow Park Stud, Scone | Shane McGrath Bloodstock, NSW | $ 240,000 |
| 661 | B | Colt | Wootton Bassett (GB) | So You Merge | Wentwood Grange, Cambridge, NZ | Shane McGrath Bloodstock, NSW | $ 230,000 |
| 139 | Ch | Colt | Toronado (IRE) | Danny's Sparkle | Widden Stud, Widden Valley | Shane McGrath Bloodstock, NSW | $ 180,000 |
| 35 | Br | Colt | Lucky Vega (IRE) | Arizona Belle (IRE) | Yulong, Nagambie, Vic | Shane McGrath Bloodstock, NSW | $ 170,000 |
| 391 | Br | Filly | Xtravagant (NZ) | Looking for Love | Newhaven Park, Boorowa | Shane McGrath Bloodstock, NSW | $ 105,000 |
| 539 | B/Br | Colt | Noverre (NZ) | Princess Aubrey | Carlaw Park, Ohaupo, NZ | Shane McGrath Bloodstock, NSW | $ 90,000 |
| 680 | B | Colt | Capitalist | Spring Tempest (CAN) | Newgate Farm, Aberdeen | Shane McGrath Bloodstock / St Kilda Farm, NSW | $ 80,000 |
| 731 | B/Br | Colt | Lucky Vega (IRE) | Told You So | Yulong, Nagambie, Vic | Shane McGrath Bloodstock, NSW | $ 80,000 |
Table: Shane McGrath Bloodstock Classic buys
“I sourced a filly for a new client and she’ll be going to Bjorn Baker, she wouldn’t have looked out of place an any major sale and was as good a type as any I’d seen.” Lot 391 by Xtravagant (NZ) cost $105,000 and is out of unraced Looking For Love (Street Cry {USA}) whose first four foals to race are winners.
“The two Lucky Vegas are lovely sharp horses. He was a bloody good racehorse whose made a good start, and I anticipate that he’ll have a global profile. They have the physique for the job and are suitable for the Australian domestic market and 2-year-old sales.”
McGrath purchased two Lucky Vega (Ire) colts; Lot 35 for $170,000 and Lot 731 for $80,000. Lot 35 is a half-brother to Listed-placed winner Aztec State (Pierro) from the family of Fiorente (Ire), while Lot 731 is the second foal of Told You So (Not A Single Doubt) from the family of Kementari.
Gallery: The Lots that were purchased by Shane McGrath at Classic yearling sale, images courtesy of Inglis
“I didn’t want horses just for Hong Kong, as the profile of these (breeze up) sales has increased exponentially locally. The attitude has changed with the regular vendors buying good quality yearlings for these sales. The 2-year-old sales are not an afterthought anymore, and vendors are getting rewarded if people recognise that you’ve bought horses for his purpose.”
“Inglis have done an unbelievable job with the Ready to Race concept, they’ve got the model right. New Zealand Bloodstock have a strong established model too. My clients love buying there. And it’ll be good for the overall market if Magic Millions strengths up, as it becomes a third sale that people can access.”
Harvey’s joint proposal
In mid-January, Magic Millions owner Gerry Harvey suggested that Magic Millions and Inglis should collaborate on a joint 2-year-old breeze up sale, with the idea that it would allow both companies to better compete in this space with market leader New Zealand Bloodstock. The proposal would have one company run the sale one year, and the other on the next year.
| Baramul Stud, Widden Valley, NSW | 45 | 6 | 20 | $ 1,267,000 | $ 63,350 | 0 |
| Alexia Fraser Bloodstock, Warwick, Qld (As Agent) | 17 | 5 | 11 | $ 518,500 | $ 47,136 | 0 |
| GlenX Lodge, Biddaddaba, Qld | 16 | 1 | 8 | $ 501,000 | $ 62,625 | 0 |
| Nolen Racing, Benalla, Vic (As Agent) | 15 | 1 | 12 | $ 1,169,000 | $ 97,417 | 3 |
| JCS Thoroughbreds, Benalla, Vic (As Agent) | 13 | 2 | 6 | $ 386,000 | $ 64,333 | 0 |
| Lux Thoroughbreds, Tamborine, Qld (As Agent) | 13 | 9 | 3 | $ 109,000 | $ 36,333 | 0 |
| Kenmore Lodge, Wyreema, Qld (As Agent) | 12 | 3 | 9 | $ 775,000 | $ 86,111 | 0 |
| Border Bloodstock, Scone, NSW | 10 | 1 | 6 | $ 305,000 | $ 50,833 | 0 |
Table: Leading Vendors by Draft Size 2024 MM 2YO sale (10 or more lots catalogued)
New Zealand Bloodstock has long had the strongest breeze up sale, and in 2024, they sold NZ$38.6 million across 254 horses, while the Inglis Ready To Race Sale grossed $15.6 million (95 horses sold) and the Magic Millions breeze up sale had an aggregate of $7.9 million with 111 horses sold.
“It’s no secret that Inglis is open to the idea. There have been discussions about it over the years with some potential ideas and several proposals that have gone back and forth. If it comes to fruition to the satisfaction of both auction horses, it’ll be positive for the market,” said Hutch.
“Simultaneously we are looking to put on the best Inglis sale we can for 2025. We have the most progressive sale in Australia (for 2-year-olds) having sold over $66 million in the last five years. The market is highly competitive between the sales companies, but if a collaboration creates the best outcome for everyone, it’s worth the discussion. It’s pragmatism to have the discussion.
Gerry Harvey | Image courtesy of Magic Millions
“We’ve invested a huge amount of time and effort into this sale. We have a very effective team supplemented by Nicky Wong, who has exceptional global contacts, and he has the capacity to make further positive contributions to a good sale. Independent of any talk of collaboration, we will continue to work towards having a strong sale in October.
“We are open minded, but we are definitely not putting anything on hold while any discussion occurs. Our focus is on getting our own sale right first. We’ve worked very hard to build this sale and now it has legitimate traction in the market.”
