Encosta colt highlight of selective trade at Karaka
A SON of Encosta De Lago topped day one of the Premier Sale New Zealand National Yearling Sale at Karaka on Monday when selling for NZ$800,000 (£305,057/€325,518) to trainer Lance Noble.
But although the colt, who was offered as lot seven from Lyndhurst Farm, kick-started a solid day's trading, the session ended with a 35 per cent drop in aggregate to NZ$25,973,500 (£9,901,516/€10,563,803).
The average also suffered a reversal, dropping 25 per cent to NZ$150,136 (£57,275/€61,087), while the median fell by 33 per cent to NZ$100,000 (£38,149/€40,688). The clearance rate fell by 13 per cent to 73 per cent.
However, Petrea Vela, managing director of sales and marketing at Karaka, was satisfied with proceedings, saying:
"Before the sale began today the general expectation was that, given the current economic environment and the record-breaking sale last year, if we could produce something close to the 2007 figures then the sales would be deemed a success. So far we're on target for that to be the case so we're pleased with how it has started.
"By all accounts it's hard to buy a good horse, with buyers selective in their purchasing but strong competition on the desirable lots."
The session-topping colt is the second foal out of the multiple Group 1 winner Giovana, a daughter of Blues Traveller who is already the dam of the stakes-placed Fusaichi Pegasus filly Chivana.
"We're really chuffed to have secured him," said Noble. "He's a magnificent colt and I think we were lucky to get him for that price. I've got a great group of backers and once we've tidied up the last shares we'll get together and map out a plan for him."
Redoute's in demand
Redoute's Choice accounted for three of the top six lots, including colts who were knockeddown David Ellis, the day's leading buyer, and trainer Roger James for NZ$700,000 (£267,129/€284,870) apiece.
The session also provoked plenty of participation from European buyers, none more so than Dick O'Gorman who purchased a daughter of Zabeel for NZ$300,000 and a son of Exceed And Excel for NZ$250,000. De Burgh Equine paid NZ$280,000 for a colt by Hussonet while Demi O'Byrne signed for a Fastnet Rock colt who cost NZ$260,000.