Inglis Classic Yearling Sale at Warwick Farm expected to hit $60m
It might be dubbed the ‘sport of kings’, but racehorse ownership is now as affordable as ever and it’s why young people and women are flocking to the sport in droves.
NSW
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It might be dubbed the ‘sport of kings’, but racehorse ownership is now as affordable as ever – with as little as $2000 enough to get your name on a potential Melbourne Cup winner.
And it’s why young people and women are flocking to the sport in droves, with the rise of syndication and a bump in popularity during Covid-19 contributing to the rapidly changing face of the industry.
It’s a face on show at the Inglis Classic Yearling Sale which kicked off on Sunday, where more than 800 high-quality one-year-old racehorses will go on sale over three days.
The total sales, held at thoroughbred specialists Inglis’ Warwick Farm headquarters, are expected to hit $60 million this year, with punters able to buy a horse from as little as $10,000 – while top-flight entries will fetch more than $600,000.
Showing that Covid has put no handbrake on the industry and hunger for quality horses, the Inglis Classic record was shattered on the first day of sales on Sunday, with a colt going for an eye-watering $775,000.
The sale has previously produced high-profile graduates such as 2020 Everest victor Classique Legend, bought for $400,000 in 2017, and 2019 Melbourne Cup champ Vow and Declare.
Racing broadcaster and industry identity Lizzie Jelfs is one of those working to ease the entry of average punters, tapping into it with her newly-formed business Race With Lizzie.
Her business, in partnership with horse trainer Annabel Neasham, will look to make it easier for people with little history in the industry to buy-in.
“We want to make it as inclusive and diverse as possible, and also give people an opportunity to enjoy the journey along the way,” Ms Jelfs said.
The firm will offer an in to young people, women and other people not involved with the industry a path into ownership – with the ultimate carrot being the potential chance of getting their name on a Melbourne Cup winner.
“We’re all looking for that great dream (scenario),” Ms Jelfs said.
“That’s the whole idea – we’re trying to get an audience that isn’t already a part of the industry,” Ms Neasham added.
Inglis managing director Mark Webster said the rise of licenced syndicate operators who can manage horses on buyers’ behalf had lowered the barriers to getting involved in the industry.
“Ten years ago it‘d be intimidating to come along and buy a horse on your own,” he said at the Sunday sales.
“(Now) all you‘ve got to do is decide what percentage of the horse you want … and not have to worry about any of the logistics and just enjoy the ride.”
Inglis is coming to the party too with its ‘Pink Bonus’ initiative, which will open up an additional $1 million in prize money bonuses for races over the year, if the team owning a winning horse are 75 per cent female.
Mr Webster said the range of options available to prospective buyers, as well as ballooning prize money on offer, had opened ownership to people who might not even be from equine-related backgrounds.
“You can get involved at all different levels … You can see the younger people getting involved. So I think that’s a real positive.”
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