Median Down Only 2.5% at NZ Select Sale

Gross and average prices declined 16.7% and 12.7%, respectively.

The select portion of New Zealand Bloodstock’s national yearling sale, which ended its three-day run Feb. 4 at Karaka, couldn’t keep pace with last year’s edition. The median price turned in the strongest performance, declining only 2.5%. But the gross revenue fell 16.7% and the average price dropped 12.7%, respecitvely..

The clearance rate also suffered a setback, decreasing to 73% from 78% in 2010. Last year, the gross, average, and median grew 35%, 40%, and 33%, respectively, from 2009, according to New Zealand Bloodstock.

"Given the strength of last year's select sale, to be within striking distance of those figures is a good result,” said Petrea Vela, New Zealand Bloodstock’s co-managing director. “One of the most pleasing aspects has been the median holding up well against last year reflecting the solid demand that was still very evident on quality horses. 

"The clearance rate has strengthened over the three days, but is still a bit disappointing, which unfortunately seems to reflect the confidence lacking from our domestic market. Still, our local buyers have been far more active here than we saw at the premier sale, and with two days of selling still to go hopefully they will be back in action at the festival sale."

New Zealand reported that the final results for the three days of selling included a gross of NZ$19,107,000 ($17,712,200) for the 418 select yearlings that were sold. The average was NZ$45,711 ($35,313) and the median was NZ$39,000 ($30,129).

An Excellent Art colt topped the third day, bringing NZ$290,000 ($193,133). Tom Magnier of Coolmore Stud and Adrian Nicoll of BBA Ireland won the bidding battle for the bay yearling. His consignor was Pencarrow Stud.

“He is a fantastic yearling that has all the makings of a super racehorse and we are delighted to have bought him,” Magnier said. "He is certainly a credit to the team at Pencarrow. This sale has served as a great endorsement of what an exciting young sire Excellent Art is. He had another colt make NZ$170,000 here on Wednesday (Feb. 2) and they have been selling very well in Australia also.

"It's always important to see the market react well to a young sire and the market seems to love Excellent Art. He's getting very good-looking yearlings and it bodes well for his future as a sire."

Excellent Art stands at Coolmore in New South Wales, Australia.

Produced from the unraced Sadler’s Wells mare Magical Moment, the colt is a half brother to 2011 Rich Hill Mile (NZ-II) winner Fears Nothing (by Faltaat). Magical Moment is a full sister to French group III winner Short Pause and half sister to French stakes winner Cheyenne Dream (by Dancing Brave).

"He is an outstanding colt that has everything,” said Coolmore agent Demi O’Byrne. “He's probably the best-looking yearling I've seen in Australasia so far this year".