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Arqana Breeding Stock Final Average Down 21.8%
After 3 sessions at Deauville, the Arqana December Breeding Stock Sale "closed with declines across the board, mirroring the downward trend seen at Keeneland, Goffs & Newmarket this (northern hemisphere) winter," summed up racingpost.com. Overall 464 lots sold for €12,077,500 (A$22.95m) which was down 32% from 2007. The average dropped 21.8% to €26,029 (A$49,400) & the median fell 28.6% to €10,000 (A$19,000). However the clearance rate increased slightly from 64% in 2007 to 70% this year. Arqana managing director Olivier Delloye commented: "We're not insulated from the outside world, so there was no way that we could escape the general trend. However, the French market once again showed resilience at a testing time. The main indicators are down, but we sold 70% of the lots presented to us & it appears confidence in the French market has not eroded as much as seen in other markets this year. At every level of the market, the consignors were realistic & it was encouraging to see several new buyers at Arqana, including those from Turkey."