The Gracemere Saleyards, located eight kilometres west of Rockhampton, began operations in 1953.The saleyards hosts the world's largest stud sale (Brahman Week) and Australia's biggest horse sale (National Quarter Horse Sale). Extensive upgrading of facilities totalling AUD7.5 million began in 2003, ensuring that the saleyards remain one of Central Queensland's foremost attractions. Visitors can expect an inside view of livestock sales in the comfort of the upgraded selling ring, comfortably sitting up to 1,000 people. Stud sales are conducted primarily in the spring, September through to November, and many Australian and Australasian records are held both in relation to prices and the number of stock sold. The current highest price paid for a beast is AUD80,000 for a Brahman bull.