A staggering sale week at Karaka saw pre-sale expectations thoroughly surpassed, from vendors to buyers to casual observers seeing no signs of recession dampening spirited trade at New Zealand Bloodstock’s annual yearling showcase. At each level of the seven-day Sale - the Premier, Select and Festival sessions - there were significant increases on last year’s figures, combining to post a dramatic turnaround in the results after last year’s downturn. In total, 1621 yearlings were catalogued for the 2010 Sales Series, 89 lots fewer than last year. In the final breakdown, turnover for the sale increased almost $20million to $93,567,400, 25% up on the 2009 figure with 70 fewer horses sold. The combined sale average increased 33% to finish at $82,876, the second highest in NZB history. A healthy $12,000 (40%) increase in median to $42,000 also signalled the strength and depth witnessed in the middle market. Amongst its highlights, the Sale saw the first million-dollar lots of the Australasian yearling sales season. With NZB still holding the Australasian record of $3.6 million for a yearling sold at auction in the southern hemisphere, the top price of $2 million this year (Lot 373) became the third-equal highest yearling to ever go through the Karaka ring.  Two other yearlings hit the magical the million dollar mark (Lots 102 & 431), just one less than the record four sold in 2007.  New Zealand Bloodstock Co-Managing Director Petrea Vela summed up the sale company’s take on the week. “ It has been a phenomenal week in the world of New Zealand thoroughbreds. We’ve had so many buyers and vendors tell us that this was the strongest sale they’ve ever been to in New Zealand.          “Many of the factors that contributed to our records in 2008 weren’t present this year, instead we were coming off a recession and there was still a question mark over the extent to which our industry had recovered. But it would seem that the combination of the consistent success by NZ horses, the great crop of yearlings presented, and the NZ dollar have made NZ as attractive a market as it has ever been. “The magic ingredient this week was no doubt the force of the Australian buyers. NZ middle-distance and staying horses are making such an impression there that there was overwhelming demand for those types of horses. We are very fortunate as an industry to have a market with that sort of firepower right on our doorstep, and hope this week’s investment pays dividends for that support.”

Permalink| Feb 13, 2010

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