NZ Festival Sale Down 11.3% in Gross

Average price drops 28.8%.

(Edited New Zealand Bloodstock press release)

New Zealand Bloodstock’s festival yearling sale closed out its two-day run Feb. 2 in Karaka with a gross revenue of NZ$4,498,700 (approximately $2,291,233 in U.S. funds), which was down only 11.3% from last year’s total of NZ$5,073,850.

The 375 horses that sold averaged NZ$11,997 ($6,110), and the median price was NZ$10,000 ($5,093). Compared to 2008, when 301 yearlings were sold, the average dropped 28.8% from the sale record of NZ$16,857 and the median fell 16.7% from auction’s mark of NZ$12,000.

The clearance rate was down slightly, falling from 84% last year to 81% this year.

"The festival sale has fared very well over the past two days, rounding off sales week on a positive note,” said New Zealand Bloodstock managing director Petrea Vela. “There was still good momentum in the ring all day yesterday and today. Many vendors will be relieved that the market held up as well as it did.”

An Elusive City colt, produced from the unraced Dream Well mare Contemplate, brought the auction’s top price of NZ$77,500 ($39,472). David Cole purchased the yearling from Haunui Farm.

The second-highest-priced horse, at NZ$75,000 ($38,201), was another Elusive City colt, this one out of Outstripping. Haunui Farm was the consignor, and John Foote Bloodstock was the buyer.