Media Centre

Ckearance rate of 81 per cent highlight at NZ Sale

NEW ZEALAND BLOODSTOCK's National Yearling Sales Series concluded with the last session of the Festival Sale at Karaka on Sunday.

A colt by Elusive City topped the day's trade for the second day in succession when making NZ$77,500 (£27,300 / €30,500). Out of the unraced Dream Well mare Contemplate, he was offered by Haunui Farm and purchased by David Cole. Elusive City ended the sale as the leading sire by average, with nine lots sold for an average of NZ$38,056 (£13,400 / €15,000).

The leading individual purchaser for the sale was New Zealand Bloodstock which bought 23 yearlings for an average price of NZ$11,402. The leading vendor was Wayne Larsen's Te Runga Stud, which sold 41 yearlings for an aggregate of $378,250 (£133,327 / €149,315).

Total aggregate for the two-day sale was $4,498,700 (£1,586,404 / €1,775,000) , down 11 per cent on last year's Festival Sale turnover. Overall 375 of the 526 horses offered sold, giving a solid 81 per cent clearance rate.

The average was NZ$11,997 (£4,230/E4,700), down 29 per cent on the average achieved in 2008 and below 2007's average of NZ$12,593. The median of NZ$10,000 was down 17 per cent from 2008.

New Zealand Bloodstock managing directorPetrea Vela declared that the company was pleased with the outcome of the sale, with final results in line with pre-sale expectations.

"The Festival Sale has fared very well over the past two days, rounding off sales week on a positive note," she said.  "There was still good momentum in the ring all day yesterday and today and many vendors will be relieved that the market held up as well as it did.

"From the outset we thought that results in the range of our 2007 figures would be an acceptable result and we have managed to do that at this session. The 81 per cent clearance rate is one of the most pleasing results and it's a credit to our Festival Sale vendors who recognised the importance of meeting the market in order to get the most from the sale."

All yearlings sold this week have until 5pm on 2 March 2009 to be entered for the 2010 Karaka Million






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