Karaka Yearling Sale ends with an encouraging average
The collective strength of international buyers and New Zealand’s thoroughbred breeding industry primarily as an export market was once again confirmed with Australian buyers seizing the opportunity to return to the Karaka Yearling Sale for the first time ever. three years.
Australian buyers increased their spending by NZ$13 million (US$8.2 million) over the same period last year—enough to make up for a lack of trust from owners and trainers. local trainers, who spent NZ$10 million (US$6.3 million) off the New Zealand Bloodstock national sale in 2023.
The trend was confirmed when the numbers were tally last night at the close of the third and final session of Volume 2 on February 3, ending six consecutive days of selling in Karaka.
Importantly for the NZB, this total crossed the NZ$80 million threshold for the first time since 2018, the highest selling level in a decade as more than NZ$97 million changed hands. .
Total value of NZ$82,091,500 ($51,943,807) in 2023 is up 5% from the 2020 sale — the last pre-pandemic national sale held in Karaka — while the average is NZ$111,235 ($70,385) is up 22% and almost NZ$20,000 from three years ago. The average price of Books 1 and 2 has also increased by 45%, or NZ$25,000, to NZ$80,000 (NZ$50,620).
NZB CEO Andrew Seabrook was pleased with the overall numbers achieved considering a major weather event the night before the sale and said that this year’s auction provided a foundation for the year’s edition. 2024.
A rain of 260 mm bombs last Friday in Karaka — and believed to be up to 400 mm in other parts of Auckland — affected some international buyers who were unable to reach New Zealand as international flights canceled or upcoming planes diverted to Christchurch in the South Island.
Seabrook told ANZ Bloodstock News yesterday: “There’s a lot of Australians here at the end of the day and they’ve spent $13 million more than they did last year, which is great.
“Revenue is $82 million this year and we’re over $74 million last year, but I think the most encouraging statistic for the whole week is the average.
“Average selling price—Books 1 and 2—has increased from $55,000 four years ago to $62,500 and $70,000 to $80,000 (in 2023).
“The mid-market is thriving and payouts are up year-on-year, as is the average. I think it’s great to see all of our Australian friends here. They’re strong (on the ice). purchase chair).
“The difference between a good sale and a standout is the decrease in Kiwi spending. Australians spent $13 million more than last year, while Kiwis spent $10 million less and I guess that’s it.” That finally said it.”
Addressing Kiwis’ failure to enter the market over the past week, partly hampered by stagnant bonuses and rumors that staking could be reduced next season due to reduced TAB revenue distribution, Seabrook said: I think it’s pretty obvious that our Volume 2 and low to medium (Book 1) sales won’t go up until the bounty goes up and I think we’ve seen that this week with significant drop in Kiwi spending.”
Last year, New Zealand buyers spent NZ$40.6 million ($25.6 million) while Australian spending, achieved online or using trusted Kiwi dealers, was NZ$24.3 million ($15.3 million) but has grown significantly this year with agents, owners and trainers at the state-of-the-art sales complex.
“The money is well distributed and seeing that the average go up, especially in Book 1, from $100,000 to $130,000 is very encouraging and the overall average has gone up from $55,000 up $80,000 in four years for the whole week, which is a good statistic,” says Seabrook.
Foote increased by eight on the last day
In the final session of Book 2, bloodline agent John Foote signed 8 lots in the last 6 consecutive sessions in Karaka.
Among the purchases were ponies of Proisir and Ribchester at NZ$160,000 ($101,241) each, shared the honor of being the highest priced lots of the day.
Foote said: “The six horses I bought today were destined for Hong Kong, including those two ponies. Proisir is doing very well and I think Ribchester is a horse on the rise.”
Foote also purchased a Ribchester hatchling for NZ$80,000 for trainer Tony Gollan in Queensland and linked up with SCT Syndications to obtain the preys by Ocean Park and reliable man NZ$30,000 ($18,983) and NZ$55,000 ($34,802) respectively.
Foote said: “Ribchester is off to a great start in Australia and Europe, but I’m not here just to buy them, I’m here to buy nice horses and they fit the bill.
As a frequent visitor to Karaka, Foote was well prepared when he arrived in New Zealand more than two weeks ago to view a catalog of 1,079 Books 1 and 2 and was delighted to be able to guarantee quality services at affordable prices. both reasonable.
“We want to buy horses at this price and it’s a bit difficult to buy on the Gold Coast,” he said.
“In Karaka you can buy a nice horse for a fair price.”
Inglis will kick off its 2023 sale series on February 12th with the grand opening of its Classic Sale in Sydney. Inspections at Riverside Stables will begin on Tuesday.