Soaring Start to Karaka Select Sale
Soaring Start to Karaka Select Sale
After just one day of trade at the three-day Karaka 2016 Select Sale the aggregate is already over half of the final aggregate of last year’s Sale, thanks to spirited competition at all levels of the market.
The momentum from the prosperous Premier Sale flowed through to the first day of the Select Sale with the aggregate, average, median and clearance rate tracking higher than Day One of the Sale last year, with two days of the Sale remaining.
With 154 horses sold on Day One, 19 more than last year, the aggregate of $10,034,700 is tracking an extraordinary 43% above last year’s figure of $7,022,500 at the same point. The final aggregate for last year’s three-day Select Sale was $18,304,000, with today’s aggregate already passing the halfway mark of last year’s final figure.
The median is higher than last year’s final average price of $46,813 for the three-day Sale, increasing to $52,500 from $36,000 on Day One of last year’s Sale, a rise of 46% - the most substantial increase of all the figures.
The average price for the Sale is currently at $65,160 compared with $52,019 on Day One last year, a significant increase of 25%. The clearance rate is sitting at a solid 75% after the first day of selling, higher than last year's figure of 74% at the same point.
Continuing the theme from the first two days of Sales Week, international buyers were once again strong with Australian buyers spearheading the offshore buying bench.
The Australian spend has increased by a monstrous 66% with 44 horses purchased for $3,486,700 compared with $2,104,000 spent at the same point of the Sale last year.
After Day One of the Select Sale, there have been six horses sell for $200,000 or more, already eclipsing the number of horses sold for that price or above across the three days of last year’s Sale.
The top price of the day came at Lot 475 when leading Victorian trainer Ciaron Maher went to $260,000 to secure the Tavistock colt out of Princess (Pupil) from Landsdowne Park.
"I like classic types and New Zealand has always been home to stayers which I've come here to buy,” commented Maher. “This colt is from a good New Zealand family and Tavistock is obviously doing the job.
"I like an athletic type of horse and he's a scopey, nice type that looks like he'll grow into a good horse."
The second highest priced lot of the day is also heading to Australia with McEvoy Mitchell Racing purchasing Lot 617 for $250,000, a colt by Showcasing out of Sweet Pearla (Marauding) from Valachi Downs.
While the Australian spend surged, the domestic buying bench also flourished and is the leading country by spend with 87 horses purchased for $4,595,500, a huge increase of 64% from last year’s figure of $2,798,500.
The leading individual buyer is currently Wexford Stables from New Zealand with three horses purchased for a total of $360,000. Buying for Hong Kong trainer Paul O’Sullivan along with local trainers Lance O’Sullivan and Andrew Scott, Wexford Stables’ purchases will be destined for both their Hong Kong and Matamata stables.
Overseas buyers accounted for 54% of the total spend today with buyers from Hong Kong, Singapore and South Africa purchasing horses along with Australia.
“It has been heartening to see so many international buyers staying on at Karaka following the Premier Sale,” commented NZB’s Managing Director Andrew Seabrook. “The recent success of horses like Mongolian Khan and Tarzino, who are graduates of the Select Sale, has enhanced the Sale’s reputation and overseas buyers have recognised there is plenty of quality to be found.
“All key figures are tracking ahead of last year’s Sale at the same point following the trend set by the Premier Sale. One of the most pleasing signs is how high the median is, that shows us that there is good competition not just at the top end but at all levels of the market.
“We are seeing great competition on horses by kiwi sires shown by the two top lots, which are heading offshore, being by local stallions.”
The leading sire by average with three or more horses sold after Day One is Showcasing with three horses selling at an average of $146,667. He sits ahead of Savabeel, who was responsible for over 20% of the total aggregate at the Premier Sale, with four horses selling at an average of $136,250.
Currently the leading vendor by aggregate is Westbury Stud with 11 horses selling for a total of $842,500. The leading vendor by average with three or more horses sold is Trelawney Stud with three horses selling for an average of $158,333.
Selling continues tomorrow with Day Two of the Select Sale from Lot 671 to Lot 890 commencing at 11am. All lots will be streamed live online at www.nzb.co.nz. Passed Lots from today can beviewed here.