Record-Breaking Opening Session at Karaka Premier Sale

It has been a sensational start to the 82nd National Yearling Sales Series at Karaka, with New Zealand Bloodstock’s Sale exceeding last year’s record figures to post the strongest opening session ever seen at Karaka.

Any fears that the market might have the jitters following stockmarket results last week were well and truly allayed as all key sale statistics pointed to a very healthy market. Significantly, after 255 lots at the end of Day One, turnover is ahead a whopping $8,444,000 from the same point in the Sale last year to finish the day at $39,889,500, an increase of 27%.

One of the most significant results of the day was the all-important sale median which is tracking at $155,000, an increase of 41% from $110,000 in 2007, and remarkably just a shade off last year’s final average price of $156,567. In similar soaring fashion the sale average has increased 35% to $205,616, from $152,648 after 255 lots last year. The clearance rate is currently strong at 84%.

New Zealand Bloodstock’s Marketing Manager Petrea Vela was overwhelmed by the first day’s results. “By all accounts buyers have found it extremely tough to secure what they wanted today as competition was very heated ringside. We have never seen so many buyers at Karaka before and that has translated into strong results and a great atmosphere around the salegrounds.”

“It has demonstrated to us the revival we are experiencing in New Zealand and the renewed strength of our market and we look forward to seeing the industry reap the benefits over the course of the week ahead.”

Buyers from all over Australia have well and truly made their presence felt at Karaka today with first-time Karaka buyer Patinack Farm from Queensland the leading buyer of the day with 16 horses bought for $5,045,000. This included the top price of the day, $925,000 for the One Cool Cat filly out of Diamond Cashel offered by Cambridge Stud at Lot 82. The filly is a half-sister to Group 3 winner in Melbourne, Royal Asscher (by Stravinsky).

Last year’s leading buyer David Ellis was also prominent, with 13 purchases for $3,485,000 he is the second leading buyer overall so far.

So far the leading vendor by both average and aggregate is Sir Patrick Hogan’s Cambridge Stud with 24 horses sold for $9,105,000 at an average of $379,375, representing a 100% clearance rate. Second is Gordon Cunningham’s Curraghmore Stud with 15 horses sold for $3,695,000.

Selling continues on Day Two of the Karaka Premier Sale from 11am tomorrow.