The current economic climate took its toll at the Tattersalls July sale, which concluded on Friday with marked declines in total receipts and average and median prices.

The sale company reported 507 of 629 horses offered as sold for total receipts of $15,608,391 (7,515,200 guineas), down 31.4% from last year’s sale. Average price was $30,789 (14,823 guineas), a decline of 19.7%. Median price was $16,408 (7,900 guineas), a 28.2% decrease. The buy-back rated was 19.4% compared with 12.6% in 2007.

Despite the downturn, Tattersalls Chairman Edmond Mahoney pointed to several positives at the four-day sale.

“The catalog probably lacked a few stars amongst the horses in training compared with recent years, but the turnover of well in excess of 7,000,000 guineas and the average of around 15,000 guineas are the third highest for this fixture behind only the July sales of 2006 and 2007,” Mahoney said.

“The demand from overseas buyers has been the outstanding feature of the past four days and the clearance rate of more than 80% has yet again demonstrated the enduring appeal of the July sale.”

Welsh Cake, a five-year-old mare by Fantastic Light in foal to Sakhee, brought the sale’s highest price of $415,380 (200,000 guineas) on Monday from Mike Caddy’s Horizon Bloodstock.

Consigned by Usk Valley Stud, Welsh Cake is out of the winning Green Desert mare Khubza. She is a half sister to Group 2 winner Trans Island and Group 3 winner Welsh Diva.

For complete sale results, click here.