So You Think: his three parts brother sold for NZ$800,000 at KarakaPICTURE: Patrick McCann/Racing Post
Fastnet Rock colt steals the show at Karaka
THE second session of the New Zealand Bloodstock National Yearling Sales at Karaka on Tuesday was lit up by a Fastnet Rock colt bought by David Ellis, responsible for buying Monday's top lot, for NZ$1,750,000 (£912,563/€1,090,775).
The colt, consigned by Sir Patrick Hogan's Cambridge Stud, was tipped to be the star act at the sale and he didn't disappoint with a bidding duel developing between underbidders Coolmore and leading New Zealand buyer Ellis of Te Akau Stud.
Only the sixth seven-figure yearling bought by Ellis at Karaka, he admits that he paid more than he expected to.
"I did expect a high price for this colt, and I thought I would get him for about $1.5 million, but the others went beyond that," commented Ellis on his purchase.
"I wanted to secure him for the New Zealand racing and breeding industry, it is essential that we retain horses like this in New Zealand. He is an outstanding individual and the fact that he's by such a great sire out of a Nureyev mare gives him the potential to win Group 1 races.
"He is already 90 per cent sold with the remaining 10 per cent to be sold this week and I don't anticipate that will be very difficult to do.
"He will be trained by Jason Bridgman with a racing campaign intended to maximise his stud potential. If he's as good as his sister we will be very happy."
Ellis is now the leading buyer at this year's Premier Sale having bought 27 yearlings bought for NZ$6,262,500 at an average of NZ$231,944 (£121,624/€144,675).
"I think it has been a very successful Sale with terrific competition on the real athletes. We found it difficult to buy the good horses and think it has been a very successful two days," commented Ellis.
"To achieve that in a recession reflects very highly on the New Zealand industry. New Zealand Bloodstock, in my opinion, can take great heart that even in very difficult economic times horses have still sold well to a huge international buying bench."
Leading Hong Kong agent Willie Leung bought the day's second highest priced lot, parting with NZ$800,000 for a son of High Chaparral, who is a three parts brother to the dual Cox Plate and multiple Group 1 winner So You Think.
"I had two clients looking for top stayers and I think this lot and yesterday's High Chaparral that I bought were the best High Chaparrals in the Sale," said Leung.
"I am very lucky to have two clients looking for that type of horse and that I was able to get them what they wanted.
The Hong Kong Jockey Club - represented at Karaka by Mark Richards - were out in force, securing 12 yearlings for NZ$2,655,000 becoming the second leading buyers of the sale. The HKJC paid a top price of $350,000 for two colts, one by Encosta de Lago and one by Thorn Park. Their purchases are destined for the Club's International Sales next season.
After a much stronger day's trade on Tuesday, the two-day Premier Sale concluded with 350 yearlings being sold for NZ$54,137,000 (£28,387,880/€33,768,093) at an average of $154,677 (£81,108/€96,480) and a clearance rate of 74 per cent. The median for the two-day session is NZ$120,000 (£62,924/€74,850).
New Zealand Bloodstock Co-Managing Director Petrea Vela was happy with how the sale went.
"We were very pleased to see the market strengthen from yesterday, with a number of the better pedigreed horses coming through the ring today. We have been thrilled with the buyer turnout at Karaka and there was plenty of good competition on the appealing lots.
"It's disappointing not to have been able to get the clearance rate up a bit higher but hopefully over the course of the next couple of days there'll be more sales completed from this session."
With a $1.75m colt it is no surprise that Coolmore's Fastnet Rock tops the sires table for the Premier Sale with eight sold for an average of $422,500.
For the 31st year in a row Sir Patrick Hogan's Cambridge Stud becomes the leading vendor, selling 43 yearlings for $10,820,000 at an average of $251,628.
Selling continues on Wednesday at Karaka with the first day of the three-day Select Sale.