 |
|
| Staff Writer |
 |
In a groundbreaking move, Australian Thoroughbred sales company Inglis has acquired Wanamaker's—an online Thoroughbred auction company in North America. The deal, spearheaded by Inglis’ Managing Director, Mark Webster, aims to make a significant entry onto the global stage, connecting distant markets, simplifying trade, and paving the way for a new era of opportunities in the Thoroughbred industry.
With Australia being home to the world's second-largest Thoroughbred market, and Inglis being one of the two largest Thoroughbred auctioneers on the continent, it was only a matter of time before the company looked to expand its horizons globally, which culminated in the launch of Inglis Digital USA, marked by the acquisition of Wanamaker's.
According to Webster, "Innovation and technology have been at the forefront of our business operations in Australia, which is home to the world's second-biggest Thoroughbred market, so the desire to expand into the American market has been something we have been looking at for many years."
The partnership between Inglis and Wanamaker's is expected to reshape the landscape of online Thoroughbred auctions in the United States.
Praising Wanamaker's co-founder and CEO, Webster said, "Liza Hendriks is an exceptionally talented human being who was doing a wonderful job at Wanamaker's but just didn't have the capital or resources to expand, and we felt that's where we could come in and help, and Inglis Digital USA was born."
Wanamaker's, a newer digital sales platform launched in June 2020, has shown notable growth. Although it hasn't yet reached the prominence of industry leader Inglis Digital, Wanamaker's is still relatively new compared to Inglis Digital.
Despite being a new player, Webster expressed confidence in the platform's potential for growth:
"The potential for expansion in this market in America is huge. We only need to look in our own backyard to realise the growth in online sales in our industry. Inglis Digital catalogues were lucky to have 50 horses per sale when we first started in 2017, and we wouldn't sell half of them.
Now, only six or seven years on, the platform is an AU$100m part of our business, and that figure will only increase in years to come."
Wanamaker’s has seen notable sales, such as Fiya, which sold for US$400,000 in July 2020 and went on to become a multiple-stakes winner.
Additionally, Bandonarun sold for US$330,000 after an impressive allowance win at Laurel Park in October 2023.
Adopting a model similar to Inglis Digital Australia, Wanamaker's aims to enhance performance through ongoing investment and innovation, solidifying its position in the online sales market.
 |  |
Reflecting on the journey leading up to this expansion, Webster said:
"I first travelled to America in 2019 to meet with different people and discuss the potential of investing in the American equine digital market back then.
We spent the next 12-18 months doing more research and developing a business case, and we were very close to taking the leap when Covid hit. The pandemic brought with it so many questions and unknowns that we felt as a business it wasn't the right time to be investing in something like this, so we took a step back."
Despite these challenges, the desire to break into the American market never waned.
We kept doing our due diligence, and after multiple years of watching, researching, talking to, and meeting people, we decided Wanamaker's was the ideal fit for what we were looking for."
Mark has carved a remarkable path at the intersection of tradition and technology. His journey is a testament to versatility, passion, and strategic vision.
In 2007, Mark assumed the role of Managing Director at Inglis, becoming the first non-family member to lead the company. His background is diverse—a naval officer for 12 years and a media executive at News Corporation for 8 years. This blend of experiences infuses his leadership with adaptability and fresh perspectives.
For over 16 years, he has championed innovation at Inglis. Notably, he revolutionised how Thoroughbreds are bought and sold by introducing the online bidding platform and the digital sales platform.
Mark's leadership extends beyond technology. He steered Inglis through significant transitions, including the relocation to Warwick Farm. This strategic move positioned the company for growth and established Riverside Stables and The William Inglis Hotel.
Inglis Digital USA is gearing up for its inaugural rebranded online auction in July. According to Mark Webster, their goal is to offer American Thoroughbred investors the same liquidity benefits the Australian market enjoys. Investors can now trade shares or horses at their convenience, bypassing the wait for live sales— an exciting step toward enhancing accessibility and efficiency in the Thoroughbred industry.
"Innovation and technology have been at the forefront of our business operations in Australia, which is home to the world's second-biggest thoroughbred market so the desire to expand into the American market has been something we have been looking at for many years," he said.
"This is such an exciting opportunity, and it's been an absolute delight to work with the Wanamaker's team behind the scenes to be able to create this rebrand as we aim to make Inglis Digital USA the largest and most successful online trading platform in the Northern Hemisphere.”
He believes this is just the beginning. He asserts that they currently use artificial intelligence to match buyers with horses—a technology that will be officially launched in the local market soon and has the potential to be applied globally.
The strategic advantage lies in Ardex Technology, Inglis' in-house software development company. It enables them to create and share cutting-edge solutions. As Webster explains, "Build once, sell many times" has been their guiding principle. Whether enhancing the auction experience or streamlining operations, Inglis Digital is poised to lead the way.
Inglis Digital has set ambitious growth expectations for the American market, drawing on its significant success in Australia, where the annual worth of online Thoroughbred auctions reaches AU$100 million.
Excited about the potential for expansion in the American market, Webster said, "This is such an exciting opportunity and it's been an absolute delight to work with the Wanamaker's team behind the scenes to be able to create this rebrand as we aim to make Inglis Digital USA the largest and most successful online trading platform in the Northern Hemisphere."
Webster emphasised that America is not the end goal for Inglis Digital.
"We see online horse sales growing all around the world, and if Inglis believes they see an opportunity to invest in another part of the world, then it's something we're very much open to."
The advent of online Thoroughbred auctions has undeniably transformed the Thoroughbred industry on a global scale. One of the most significant impacts of online Thoroughbred auctions has been increased accessibility and convenience. This shift towards virtual auctions has democratised the buying and selling process, allowing a more diverse range of participants to enter the market.
"During my time as Managing Director of Inglis, Australia's leading thoroughbred auction house for the past 150 years, I have witnessed the rapid globalisation of thoroughbred racing, breeding, and, of course, trading and never before have racing jurisdictions felt so connected or empowered," said Webster.
The global reach of online Thoroughbred auctions has expanded the market significantly, boosting competition as evidenced by increased prices and elevating the overall quality of the horses being auctioned.
"Never before have racing jurisdictions felt so connected or empowered." Inglis Digital USA is here to connect the world, streamline trade, and empower breeders and buyers with a universe of possibilities.
As technology advances, we can expect further innovations in online auctions that will continue to reshape the thoroughbred industry for the better, with Inglis hoping to lead the way globally.