Average Falls 19.2% at NZ Festival Sale

The gross declines 37.9% while the median drops 15%.

New Zealand Bloodstock's 85th national yearling sales series ended Feb. 7 with the final session of the two-day festival sale at Karaka.  A colt by Don Eduardo brought the top price of NZ$60,000 ($46,160 in U.S. funds) on the last day, equaling the amount brought by a Gallant Guru – Blessed Thee colt during the festival auction’s opening session Feb. 6.

New Zealand Bloodstock, agent, purchased the Don Eduardo yearling from Haunui Farm. The colt is out of the True Style mare On the Breeze.

The final results for the festival auction, according to New Zealand Bloodstock, included a gross of NZ$3,054,250 ($2,349,730) for the 253 horses that were sold. The average price was NZ$12,072 ($9,827) and the median price was NZ$8,500 ($6,539).

Compared to last year, when 429 yearlings were sold, the gross declined 37.9%. The average fell 19.2% and the median was down 15%. The clearance rate dropped to 62% from 72% in 2010.

During the entire national yearling sale series, which lasted seven days, 1,049 horses were sold for a gross of NZ$88,084,250 ($67,765,900), which was down 5.9% from the gross in 2010 when 80 more yearlings were sold. Last year’s gross was $93,567,400, which was the second-highest ever for the series.