31 January 2011

A strong Australian dollar and another outstanding season for New Zealand-bred thoroughbreds across the Tasman augur well for the 85th national yearling sales series starting in Auckland today, Racing Minister John Carter said.

“Buyers from around the world recognise the strength and quality of New Zealand’s thoroughbreds and this week’s sales (31 January-7 February 2011) at Karaka have attracted buyers from Hong Kong, Singapore, Malaysia Japan, South Africa, United Kingdom, Ireland and of course, Australia,”
Mr Carter said.

“It is good to see leading Australian trainers such as Bart Cummings, Lee Freedman and Gai Waterhouse coming back to Karaka each year. Their endorsement is valuable to our breeding industry.

“Almost half of the $93.5 million spent at the sales series last year was paid by Australian buyers. They come to our yearling sales because they get results.

“The latest superstar in Australia, So You Think (by High Chaparral) was bred in New Zealand, bought from Karaka for $110,000 and trained by Bart Cummings to become the highest-ever ranked Australian trained horse on the World Rankings.

“Last year’s sales were outstanding and buyers will have to pay more than
$2 million to top the best price at the 2010 Premier Sale. That $2 million Zabeel-Diamond Like colt was sold by Cambridge Stud which this year will be going for the title of leading vendor by aggregate for the 30th consecutive year. Cambridge Stud owners Sir Patrick and Lady Justine Hogan continue to make a significant contribution to New Zealand’s thoroughbred breeding and racing industry.

“Horses and racing are valuable to our economy. The New Zealand racing industry generates $1.6 billion in economic activity each year; comparable in size to the wine industry $1.5 billion and the seafood industry $1.7 billion. Horses generate $167 million in export revenue each year.

“To retain the strength of our breeding industry it is important that we keep good horses in New Zealand, so I hope to see plenty of domestic buyers in action at the sales too.

“The next week will see the cream of our thoroughbred yearling crop go under the auctioneer’s hammer. Any one of them could be a world-beater. I wish all buyers well in their quest to secure the next champion.”

ENDS

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