Solid start during first session of Melbourne Premier Yearling Sale

Little Kwok Hing Hung, an international buyer based in Hong Kong, purchased the top-priced yearling during the first session of the Melbourne Premier Yearling Sale on Sunday.

The purchase was the fourth-highest priced colt ever sold at the Premier Yearling Sale, following a bidding duel with the Hong Kong Jockey Club, who were underbidders.

The Snitzel colt is out of Mightier and was sold by Millford Thoroughbreds, acting as agent for Cressfield Stud, for A$620,000

Hung said: “We had our heart set on him after all the inspections we did.

"He’s a strapping colt, big boned, great girth and hind quarter. He’s a sensible colt, he’s got a brain on him and you really need that.

"I knew he’d be popular, and when two people want the same thing at an auction, you need to be strong and we were."

The first session ended with a strong clearance rate of 81 per cent, an average of A$124,414 and an aggregate of A$13,685,500.

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The Blue Riband session was again a success, averaging A$134,692 with a clearance rate of 84 per cent.

Simon Vivian, Victorian bloodstock manager for Inglis, was pleased with how the first day went.

Vivian said: "It’s a very satisfying start and knowing the quality that’s still to come, we can go into the next few days with an absolute degree of confidence.

"The top part of the market is very strong, the median is quite amazing when compared to last year and while the clearance rate started a little soft early, the buyers found their feet as the day progressed which was great to see."