Karaka Festival ends with rise in average
NZ BLOODSTOCK'S 2012 National Yearling Sales Series concluded with a surge of activity at the Festival Sale on Sunday.
The Festival average of NZ$15,300 (£8,065/€9,742) was the second highest on record and 26 per cent ahead of last year's figure. It was accompanied by a strong 77 per cent clearance rate which was up 15 points from 2011.
Colts by Coat's Choice (Berkley Stud) and Cecconi (Westbury Stud) topped the Festival Sale at NZ$70,000 (£36,906/€44,571).
The colt by Coats Choice (Redoute's Choice) from Illusive Hope (Spectrum) was knocked down to Michael Stedman.
"The horse looks to be a good athlete with clean legs and decent x-rays," Stedman said. "He was also very well prepared and is a credit to Berkley Stud."
The top price was matched late in the day when the colt by Cecconi (Encosta de Lago) was secured by Graham Richardson.
"I had to have him," the Matamata trainer said. "I paid a little bit more than intended but he was too nice a horse to let go.
"I can't remember a stronger Festival Sale, and there has been a good presence of Kiwi buyers too which is good to see."
New Zealand Bloodstock Co-Managing Director Petrea Vela declared it was been an extremely pleasing conclusion to this year's Sales Series.
"The Select and Festival Sales have held up strongly against last year's figures and to match the Festival's record median shows a robust display from the domestic market.
"We can be very pleased with the outcome of this year's Sales Series. We are very grateful for the support of all of our buyers and vendors from here and overseas throughout the week, and wish buyers the very best of luck with their Karaka purchases."