Cape Thoroughbred Sales have announced that the CTS Cape Premier Yearling Sale (CPYS) will be staged on a single day: Wednesday, 23 January 2019.
The Sale was originally scheduled to take place over two days, inclusive of Thursday, 24 January at the Cape International Convention Centre (CTICC).
Wéhann Smith, CEO of CTS, explained the reasons for the decision and said: “We have had several requests for the sale to be completed earlier during the week, because a number of our international clients also support the Karaka National Yearling Sale, which starts on Sunday, 27 January.
“By ending our sale on Wednesday 23rd, we give our valued international buyers a chance to round up matters in South Africa before flying on to Auckland.”
Chairman Chris van Niekerk with CEO Wehann Smith (photo: CTS)
Smith said that the one-day version of CPYS will serve to enhance the traditional exciting atmosphere that has made the event a stunning success to begin with.
He said: “There has always been a perception that Day One of the Sale produced better results than Day Two, and the numbers seem to back this up. In 2016 the top two lots were both sold on Day One, and the average sales price dropped by a surprising 16% on Day Two. In 2017 the top lot again came from Day One, while this year the average sales price dropped by 14% on Day Two. The atmosphere on Day One is always electric and the positive energy prevails throughout the day, whereas it invariably tapers off on the second day.”
“We’ll have a high-quality catalogue of about 220 yearlings, which equates to roughly eight hours of selling in an ambience conducive to doing great business. We expect an intense, competitive day jampacked with bidding action, which makes for happy clients.” Smith said that the Klawervlei Golf Day (18 January) and the Maine Chance/Ridgemont Highlands International Dinner (invitation only, 21 January) will precede the sale: “We’ll also be staging our customary CTS cocktail party, an annual highlight of CPYS prior to the sale, and within the week of the Sun Met. It will be a week not to miss and we look forward to entertaining our clients and visitors.”
