New Record Sales Turnover

New Record Sales Turnover New Record Combined Average Record Clearance

The 2007 New Zealand Bloodstock National Yearling Sales Series produced a stellar week of selling - the strongest ever witnessed at Karaka - with the Premier and Select Sales posting record aggregate, average and median, and the one-day Festival Sale concluding the week with a record median price heading up increases across the board.

With previous records shattered throughout the week, one of the most impressive results was the new all-time high set by the final combined turnover for the week of NZ$81,375,700, up a massive 24% from the aggregate in 2006 of NZ$65,721,500, and up 15% on the previous record aggregate of NZ$70,809,351 in 2000, where 300 more horses were offered.

Over the three sales sessions, a total of 1362 horses were catalogued, the smallest offering since 1998, with 1023 sold at a combined average of NZ$79,546, also a record for the sales series at 26% above last year's average of NZ$63,012. The overall clearance rate was 83%, just exceeding the record of 82% set in 2004.

New Zealand Bloodstock Marketing Manager Petrea Vela was thrilled with the outcome, "There's no doubt that the results over the past week have exceeded all our expectations with record returns to vendors combined with very strong median, average and clearance rates across the board have shown both strength and depth to the market."

"A number of factors have undoubtedly contributed to the week's success. Along with the changes to the Sale format, the growing performance of our stallions, various marketing initiatives including the Karaka Million and the new Buyer Reward Scheme, the increased strength of this year's catalogues played a huge part in attracting the buyers to Karaka. It remains the paramount marketing tool of any sale and it is a credit to vendors that we were able to present a top quality offering."

"In addition, one of the most heartening outcomes of the week has been the obvious revival in confidence in our domestic industry. New Zealand buyers were very competitive right throughout the week with the promise of increased returns to owners, and an improved racing and breeding environment, inspiring their investment activity. At NZB we are sure this marks the start of a very exciting period in our industry's future and are looking forward to seeing the positive effects of this week throughout the coming weeks and months."

The Select Sale posted some of the most impressive increases of the entire Sale, with a whopping 68% increase in aggregate from last year - from NZ$12.8m to NZ$21.6m - with just 36 more horses offered. This session also boasted a record price of NZ$230,000 (No Excuse Needed - Cymbidium) and 40 other six-figure lots, up from a total of eight in 2006.

With the addition of the new Carnival Yearling Sale set for Friday 9 March, there was a reduced Festival Sale offering of just 310 yearlings, which also posted a record sale median of NZ$10,000, up from NZ$8,500 last year. Combined with a healthy clearance rate of 81% this Sale has also provided a rewarding sales platform for vendors.

Top Lots
The star attractions of the 2007 Premier Sale were undoubtedly the two colts from outstanding New Zealand racemares Sunline and Ethereal, who didn't disappoint as they played a predictably prominent role in the results. Sunline's colt by Zabeel fetched the highest price of the Sale, which at NZ$2m is also the third highest price ever recorded at Karaka. The colt, bought by Manukau real estate franchise holder, Don Ha, was his "chance to join in and make history" and is to be syndicated by Ha and trained by part-breeder, Stephen McKee.

The Ethereal colt by Stravinsky was one of two lots that fetched the second highest price of the Sale at NZ$1.3m when knocked down to the bid of David Ellis, the other being a Redoute's Choice colt out of Mascara Magic bought by Melbourne trainer, Peter Moody.

The fourth seven-figure lot of the Sale was for the Lonhro colt out of Palme d'Or that was bought by New Zealand trainer Graeme Stubbings for NZ$1,050,000, giving vendors, Ascot Farm, their first million dollar yearling.

There have now been a total of 18 seven-figure horses sold at Karaka, with the record still held by Don Eduardo (Zabeel - Diamond Lover) when he was sold for NZ$3.6m in 2000.

Leading Buyers

Of particular note at Karaka 2007 was the depth to the international buying bench, particularly from Australia, many of whom stayed to the end of the Select Sale on Friday. They competed hotly alongside a very robust local buying bench that, for the first time in many years, showed strength and depth right throughout the week.

Vela remarked, "We were thrilled to have assembled the strongest buying bench we have seen at Karaka for some time. We welcomed back lots of regular buyers to Karaka, along with many familiar faces who haven't been back in recent years, and several new buyers."

"Australia once again proved to be by far our major export market, while demand from Hong Kong, Singapore, Malaysia, Japan, Macau and Europe highlighted the international appeal of New Zealand thoroughbreds. One of the most positive outcomes of the Sale was the way were we able to attract the leading bloodstock buyers from right around the world to Karaka which is a credit to the quality of horses, hospitality and service offered at Karaka."

The leading buyer for the Sales Series was Te Akau Stud principal, David Ellis, who purchased 23 yearlings for an aggregate of NZ$5,206,500 and an average of NZ$226,370. This included a top price of NZ$1.3m for the Stravinsky colt out of Ethereal, plus the Encosta de Lago colt from Slip Sliding for NZ$725,000 and the Redoute's Choice colt from How About That for NZ$680,000.

Ellis was also the leading buyer at Karaka in 2006, with 29 yearlings purchased for NZ$7,090,000 including the top price of NZ$2.2m for the Stravinsky half-brother to Darci Brahma, now named Saperavi.

Trans-Tasman trainer Graeme Rogerson was the second leading buyer overall, with a total of 37 yearlings purchased for both Dormello Stud, his new breeding operation in Hamilton, and other Australian and local racing interests. An aggregate of NZ$4,052,500 included a top priced lot of NZ$380,000 for a General Nediym filly out of Etoile Centieme bought for Dormello Stud from Waikato Stud.

Third leading buyer was the Hong Kong Jockey Club, represented at Karaka by Mark Player, securing 24 yearlings for both the HKJC International Sale and the newly re-introduced Subscription Griffen Scheme. The HKJC's top priced yearling was Lot 425, a colt by O'Reilly from The Grin (Grosvenor), a brother to 2003 Champion 3YO, The Jewel, and second top 2YO colt in New Zealand in 2006, The One. He is destined for the HKJC International Sale in December.

Other Hong Kong buyers included Dominic Li, Willie Leung, Dan O'Donnell, Ricky Yiu, Tony Millard and Michael Chang. A total of 58 yearlings are destined for Hong Kong at an aggregate of NZ$8,360,500, up from a total spend of NZ$6,137,500 in 2006.

In excess of NZ$23m worth of bloodstock from Karaka is headed to Australia following conclusion of the week, up from NZ$20.4m in 2006. The leading buyers from Australia were bloodstock agent, John Chalmers from West Australia, who purchased 30 yearlings for NZ$2,310,500, Robert Roulston with 13 yearlings bought for an aggregate of NZ$1,962,500, Peter Moody with 5 bought for NZ$1,610,000, and Bart Cummings with 5 bought for NZ$1,445,000, including a top priced lot of NZ$600,000 for a Redoute's Choice filly out of Luna Tudor from Trelawney Stud.

Also prominent from Australia were James Bester, John Morrisey, Mick Price and Kieran Moore.

The results sheets also reflected purchases destined for England, Ireland, Singapore, Philippines, Korea, Macau, Singapore, South Africa and Malaysia, including by prominent bloodstock buyers Demi O'Byrne, Adrian Nicoll, Angus Gold, Shadai Corporation, Katsumi Yoshida of Northern Farm, and others.

Last year New Zealand buyers accounted for NZ$31m worth of purchases over the course of the Yearling Sales Series, with this growing to more than NZ$40m this year. Prominent New Zealand buyers included Paul Moroney, Bruce Perry, Paul Willetts, Lance O'Sullivan, Phill Cataldo, John Sargent and Roger James. Third leading local buyer behind Ellis and Rogerson was Paul Moroney Bloodstock with 26 yearlings bought for an aggregate of NZ$1,472,500 and an average of NZ$56,635.

Leading Vendors
There were scores of jubilant vendors at Karaka, with many experiencing record results for their drafts.

For the 26th year in a row Sir Patrick Hogan's Cambridge Stud was the leading vendor by aggregate with 51 yearlings sold for an aggregate of NZ$9,473,500 and an average of NZ$185,755. His draft included the top priced lot of the Sale, the Sunline colt by Zabeel that fetched NZ$2m.

On the final tally, the leading vendor by average was Pencarrow Stud for the fourth year in a row, with 19 sold for an average of NZ$232,632 and an aggregate of NZ$4,420,000. This was just a shade ahead of Bruce and Maureen Harvey's Ascot Farm who sold 18 yearlings for an average of NZ$231,722 and an aggregate of NZ$4,171,000.

Vendors Waikato Stud, Wellfield Lodge, Bloomsbury Stud, Whakanui Stud, White Robe Lodge, Beltana Stud and Totara Park Stud were all amongst those who recorded a 100% clearance rate for the Sales Series.
Sires
It came as no surprise to many that hotshot Australian sire, Redoute's Choice, would top the sires tables by average, with 8 catalogued and 6 sold for an average of NZ$676,667.

The leading sire by aggregate was Cambridge Stud resident, Stravinsky, who was represented by 37 lots sold for an aggregate of NZ$6,762,500 and an average of NZ$182,770. Right behind him was fellow Cambridge Stud sire, Zabeel, with 22 sold for an aggregate of NZ$6,585,000 and an average of NZ$299,318, making him the leading New Zealand based sire by average.

ENDS

© Scoop Media