Sale Provides Strong Finish to Karaka 2009

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Festival Sale Provides Strong Finish to Karaka 2009

New Zealand Bloodstock's National Yearling Sales Series concluded at Karaka today, with the pace picking up over the final 260 lots of the Festival Sale to conclude the sales week on a positive note.

The two-day Festival Sale has followed the trend set by the Premier and Select Sales throughout last week, with good competition on many of the yearlings on offer and, while not reaching the heady heights of 2008, results have been solid across the board.

Total takings for the two-day session are $4,498,700, down just 11% on last year's Festival Sale turnover of $5,073,850. With 375 of the 526 horses sold, the clearance rate for this session was a pleasing 81%.

The final Festival Sale average was $11,997, down 29% on a record $16,857 in 2008, with a healthy median for this session of $10,000 (down 17% from $12,000 in 2008). Both the new record average and median set in 2008 were up 20% on previous records for this session.

New Zealand Bloodstock Managing Director Petrea Vela was pleased with the outcome of the Festival Sale, with final results in line with expectations heading into the week.

"The Festival Sale has fared very well over the past two days, rounding off sales week on a positive note. 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% 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."

It was young Elusive Quality sire, Elusive City, who provided the top price of the day for the second day in a row when the colt at Lot 1636 was knocked down for $77,500. Offered by Haunui Farm from the unraced Dream Well mare, Contemplate, the colt was purchased by David Cole.

Continuing his buying streak from yesterday, the leading individual buyer for this session was Dean Wiles who purchased 19 yearlings for $181,000. His top price was $36,000 paid for Lot 1378, an Ekraar colt sold on account of Twin Pine Thoroughbreds draft.

It was no surprise that with the top lot of both days the leading Festival Sale sire was Haunui Farm's Elusive City, with seven yearlings purchased for an average of $37,679. The Stud also claimed the leading vendor by average title with nine selling for an average of $38,056.

The leading vendor for this session has been Wayne Larsen's Te Runga Stud, selling 41 yearlings for an aggregate of $378,250. Their top price was fetched by Lot 1569, a colt by their resident sire Strategic Image that went to the bid of Esker Lodge for $28,000.

All yearlings sold this week have until 5pm on 2 March 2009 to be entered for the 2010 Karaka Million. Click here for entry form and conditions.

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