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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