New market realities emerge as sales season hits top gear

Comparing the health of different sectors of the market at this week's Goffs UK Premier and Silver Yearling Sales paints a picture of buoyancy in the top levels of trade but a collapse in demand in the lower rungs.

Putting the results in order and dividing them into four equal parts, or quartiles, and setting them against the equivalent figures from last year shows the upper echelons of the market are in general good health.

The £94,697 average price in the top quartile at the Premier sale was on a par with last year, with six lots making £200,000 or more – two fewer than in 2015. The number of yearlings who sold for £100,000 or more rose to 32 from 31.