Horse sells for more than double what the average Australian earns in a year

The average Australian earns just over $48,000 a year before tax, according to the Australian Bureau of Statistics, but a horse in New South Wales has just sold for more than two and a half times that figure.

A two-year-old quarter horse stallion made $126,000 at this year's Nutrien Classic Sale, held in Tamworth in northern New South Wales, while another 466 performance horses went under the hammer at the annual auction.

Racehorses can sell for millions of dollars, but this is Australia's largest sale of its kind, showing that the drought does not appear to have stifled the demand for horses.

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Article written by: Amelia Bernasconi