Inglis makes Chairman's commission play

4 min read
Inglis has made another play for increased market share of the breeding stock market by announcing changes to its commission structure for upcoming sales.

Having already revamped its Weanling And Breeding Stock Sales Series, Inglis has announced changes to its commission structure including zero sales commission at May's Chairman's Sale.

The change signals a serious attempt by Inglis to gain some ground in the breeding stock sales market.

It had already been announced that the Inglis Weanling and Breeding Stock Sales Series had been moved to May, a shift aimed at being more attractive for broodmare vendors in particular, but the cutting of commissions is another shot across the bow of its interstate rival.

Not only will race fillies and broodmares sold at the Chairman's Sale carry zero sales commission, but there will be no sales commission charged on the balance over $100,000 for any weanling, race filly or broodmare offered through the Australian Broodmare & Weanling Sale, as well as the Great Southern Sale.

Changes to benefit breeders

Leaving aside the competitive angle and timing of the announcement, Inglis’ General Manager of Bloodstock Sales, Sebastian Hutch, believes breeders will be the big winners.

“The no sales commission structure for the Chairman’s Sale represents a great opportunity to those with quality race fillies and breeding stock,” he said.

“The demand for the best Australian breeding stock, from both domestic and international investors, is essentially insatiable." - Inglis General Manager of Bloodstock Sales, Sebastian Hutch

“The demand for the best Australian breeding stock, from both domestic and international investors, is essentially insatiable and there has already been a significant amount of interest expressed in the Inglis Breeding Stock Sale Series for 2019, from both vendors and buyers."

"We have tremendous conviction in our ability to sell quality breeding stock and we believe we can do it as well, if not better than anyone else. The move around the commission structure is designed to attract those people with select equine breeding stock to participate in the Chairman's Sale."

"It's a select sale with limited numbers, but it is an initiative that represents a great opportunity for people with quality race fillies or broodmares that they want to put through the ring."

"It is an initiative that represents a great opportunity for people with quality race fillies or broodmares."- Sebastian Hutch

The sale begins three weeks later than last year on May 2, kicking off with Day 1 of the Australian Broodmare & Weanling Sale and followed by The Chairman's Sale on the Friday evening.

Weanlings will now be moved from the Chairman's Sale and added to the opening session.

Timing change intended to boost

After a much-heralded start under lights at the Newmarket complex in 2017, the Chairman's Sale suffered a downturn in 2018 and perhaps timing was to blame.

Being positioned immediately after a big Easter sale and squeezed between day one and two of The Championships didn't leave much breathing space and Hutch believes the move to May will give both buyers and vendors a chance to "decompress."

Hutch believes the move will give vendors time to 'decompress' after the Easter Yearling Sale

"We have taken on feedback from the previous two Chairman's Sales and factored that into our 2019 scheduling," Hutch said. "The timing, three weeks after the Easter sale, provides ample opportunity to decompress after the Easter sale and what can be an arduous sales season. It also provides more chance for people looking for pin-hooking opportunities to look at the weanling sale."

The schedule change also includes subtle changes in the flow of the four-day program.

"We have taken on feedback from the previous two Chairman's Sales and factored that into our 2019 scheduling." - Sebastian Hutch

Hutch said early May was also an ideal time to secure fillies in training with an eye to the schedule of major races in Adelaide and Brisbane.

"We feel that Sydney in May is a very convenient time for people with high-end bloodstock to offer it to a cosmopolitan market," he said.

"Whether they are people with race fillies with upside through the latter part of the New South Wales season, or the Queensland and Adelaide carnivals, where they are a multitude of opportunities for fillies and mares to exploit black type. In the case of pregnant mares, many of whom are in the Hunter Valley, it represents a convenient time slot and location for moving mares without exposing them to as much risk mares are open to when travelling."