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Drop in Domestic Spend Hits Select Sale
Drop in Domestic Spend Hits Select Sale
A clear drop
in domestic spend has had a significant impact on this
year’s New Zealand Bloodstock Select Sale and was the difference
between matching last year’s healthy results.
After a
tentative start on Wednesday, clearance strengthened
throughout the sale to settle at 76% today with 437
individuals sold over the three days for total receipts of
$20,679,500 and an average price of $47,363. The median
price remained steady at $40,000, a 16% drop however on last
year’s median price of $47,500.
“Our flat domestic
racing industry has had a disappointing effect on the Select
Sale and the negative impact it is having is even more
evident when looking at the Premier and Select sessions from
this week combined.”
“Over the past five days over $6.5 million less has been spent by domestic buyers who have historically underpinned the middle market,” commented New Zealand Bloodstock Managing Director Andrew Seabrook.
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