Positive Signals from 2013 Karaka Premier Sale

29 January 2013

New Zealand Bloodstock’s 2013 Premier Sale wrapped up at Karaka today with strong trade over the past two days providing an increased average and clearance rate and identical median compared with last year’s edition.

In total 323 of the 441 catalogued lots have sold for $51,051,500, $3,085,500 less than in 2012 with 27 fewer horses sold. That represents a final Premier Sale average of $158,054, a 2% increase on last year’s $154,677.

One of the most pleasing results has been the median holding up solidly at last year’s figure of $120,000 with an improved clearance rate of 79%, compared with 74% in 2012.

With yesterday’s top price of $1,975,000 never in danger, the top price of Day 2 was for another highly anticipated youngster in the half-brother to Cox Plate winner Ocean Park. Offered by Trelawney Stud at Lot 330, the colt by Pins from Sayyida (Zabeel) was purchased by Melbourne trainer Peter Moody for $775,000, the highest price ever paid at Karaka for a yearling by the sire.

330 ring

Half-brother to Ocean Park Lot 330 purchased by Peter Moody for $775,000

“I was very taken with this horse, he’s a lovely individual by a great stallion in Pins,” commented Moody.

“Obviously there is the attraction of Ocean Park, and he comes from a great nursery in Trelawney. Trelawney bred my first Group 1 winner in Amalfi and I have had a long association with them.

“New Zealand bloodstock has stood the test of time and proven itself internationally again this year. Different bloodlines from all over the world can create any type of horse including a sprinter-miler which this one looks like it is.”

A very active presence ringside at Karaka over the past two days, Moody has purchased 14 yearlings for $2,177,500 at an average of $155,536, in addition to being the underbidder to Tom Magnier for yesterday’s top lot (Lot 63).

Amongst Moody’s purchases is just one by an Australian-based sire in Charge Forward at Lot 22, his others being by O’Reilly (3), Pins (3), Mastercraftsman (3), Tavistock (1), Thorn Park (1), Darci Brahma (1) and Pentire (1).

The leading buyer of the Premier Sale has been New Zealander David Ellis of Te Akau Stud with 23 yearlings purchased for $3,810,000. His top price was $620,000 paid for the High Chaparral colt at Lot 282 from Pencarrow Stud mare Our Echezeaux (Zabeel), dam of current stakes winners Dolmabache and Pure Elegance.

With 13 colts and 10 fillies destined for Te Akau, Ellis’s purchases have ranged in price from $12,500 to $620,000 by a wide selection of sires that includes Encosta de Lago, Fastnet Rock, O’Reilly, Darci Brahma, Zabeel, Flying Spur, Keeper, Thorn Park, Savabeel, Redoute’s Choice, Bachelor Duke, Dylan Thomas, and more.

“It was definitely a buyers’ market but nevertheless the Sale was still a huge success given the economic circumstances that we are in,” commented Ellis. “There was still terrific interest across the board on all horses that we were interested in.

“Mark Walker and I will be back at the Sale tomorrow trying to buy more horses for Te Akau Racing. We are thrilled to have so many new owners which indicates that New Zealand racing has really turned a corner.”

Coolmore sire Fastnet Rock made his presence firmly felt right from early on day one, with his 14-strong draft providing him with top honours, selling 100% for an average of $419,284.

With 10 Fastnet Rock yearlings in his draft of 25, Gordon Cunningham’s Curraghmore Stud provided a milestone today by toppling Cambridge Stud’s 31-year reign as the leading Premier Sale vendor by aggregate. With 21 lots sold for $7,485,000, Curraghmore was just $430,000 ahead of Cambridge Stud’s aggregate of $7,055,000 for 47 lots sold. 

Curraghmore Stud also leads the vendor tables by average at $356,429, followed by Haunui Farm at $220,333 with 15 of their 18 Premier entries selling for $3,305,000 after a top price of $800,000 was fetched yesterday for their Zabeel filly at Lot 103.

Gordon Cunningham was understandably delighted with the strength of his results.

“I was very confident coming into the Sale that this was the best draft we would have ever offered,” commented Cunningham.

“Despite that you need things to fall your way when it comes to selling them in the ring and our yearlings all had great pedigrees, but importantly they also matched on type, and they sold very well so we are thrilled.

“I think where was a good market at the Sale and a good number of buyers. The market has become a bit selective over the last few years as we know but if you were offering what they wanted then your horses sold well.”

The consummate gentleman, Sir Patrick Hogan offered his personal congratulations to Gordon, sincere in his acknowledgement of Curraghmore’s achievement.

“I’m really thrilled for Gordon,” commented Hogan. “I remember when I first accomplished it and the wonderful feeling as it’s a big achievement, I’m very happy for him.

“Gordon is a big asset to the industry. He does such a great job of presenting his horses and I really hope that he kicks on and he can put himself in the position to defend his well-earned title in the coming years.”

Not without a highlight of its own, Cambridge Stud provided the leading first season sire in Tavistock, a New Zealand champion sprinter by Montjeu, with 10 lots averaging $136,000. This included a top price of $270,000 paid by Palmerston North trainer Lisa Latta for Lot 278.

NZB Co-Managing Director Petrea Vela says the company is very pleased with the results of the past two days.

“We headed into this Sale expecting some uncertainty in the market and have been very pleasantly surprised by how solid the results have been. We have definitely felt improvement on last year where the first day in particular took a lot longer to find a momentum.

“Throughout the past two days trade has been very steady, very strong in places, with a wide and varied buying bench that has been positive in its regard for the horses on offer at Karaka.  Hopefully the tide is turning and with some positive news in New Zealand around fillies racing and so on, that confidence will also filter through the local market over the course of the week ahead.”

Of the $51 million turnover, over $25 million has been provided by Australian buyers including Chris Waller, Duncan Ramage, Bart Cummings, Cameron Cooke, Damon Gabbedy, Gai Waterhouse & James Harron, John O’Shea, Champion Thoroughbreds, Gangemi Racing and many more.

Also active over the past two days have been buyers from New Zealand ($15.3 million), Hong Kong ($6.6 million), Singapore ($1.8 million), plus Malaysia, South Africa, the UK, Macau and the Netherlands.

Karaka 2013 continues tomorrow with Day 1 of the Select Sale (Lots 442 – 660) from 11am, with lot-by-lot coverage streamed live online at www.nzb.co.nz.

2013 Premier Yearling Sale Statistics
 2013 Premier Sale 2012 Premier Sale
AGGREGATE $51,051,500 $54,137,000
AVERAGE $158,054 $154,677
MEDIAN $120,000 $120,000
SOLD 323 350
TOP LOT Fastnet Rock x Celebria (Lot 63) - $1,975,000 Fastnet Rock x Nureyev's Girl (Lot 353) - $1,750,000
Top Lots
Lot Type Breeding Vendor Purchaser Price
63 B. C Fastnet Rock / Celebria Curraghmore Stud Mr T Magnier (NSW) $1,975,000
103 B. F Zabeel / Destined Haunui Farm NZB as agent (NSW) $800,000
330 B. C Pins / Sayyida Trelawney Stud Moody Racing (VIC) $775,000
129 B. F Fastnet Rock / Episode Curraghmore Stud Mr B Cummings (NSW) $700,000
282 B. C High Chaparral / Our Echezeaux Pencarrow Stud Mr DC Ellis (Te Akau) $620,000
332 B. C Zabeel / Seachange The Oaks Stud James Bester Bloodstock (NSW) $500,000
42 B. C High Chaparral / Bombay Curraghmore Stud Hong Kong Jockey Club (HK) $480,000
130 BR. C O'Reilly / Escada Waikato Stud Hong Kong Jockey Club (HK) $460,000
402 B. C Zabeel / Tootsie Waikato Stud Mr G Hennessy (Matamata) $450,000
395 B. C Thorn Park / The Glitter Phoenix Park DGR Thoroughbred Services (NSW) $440,000
416 B. F Zabeel / Veloce Bella Cambridge Stud Belmont Bloodstock (VIC) $440,000
Leading Purchasers by Aggregate
Purchaser Bought Aggregate Average Top Price
NZB as agent 31 $5,092,500 $164,274 $800,000 (Lot 103)
Mr DC Ellis 23 $3,810,000 $165,652 $620,000 (Lot 282)
Hong Kong Jockey Club 10 $3,140,000 $314,000 $480,000 (Lot 42)
Moody Racing 14 $2,177,500 $155,536 $775,000 (Lot 330)
Mr T Magnier 1 $1,975,000 $1,975,000 $1,975,000 (Lot 63)
Chris Waller Racing 10 $1,495,000 $149,500 $230,000 (Lot 196)
James Bester Bloodstock 4 $1,290,000 $322,500 $500,000 (Lot 332)
DGR Thoroughbred Services 4 $1,155,000 $288,750 $440,000 (Lot 395)
Rogerson Bloodstock 7 $1,045,000 $149,286 $200,000 (Lot 165, 46)
Lisa Latta Racing Stables 5 $845,000 $169,000 $270,000 (Lot 278)
Leading Vendors by Aggregate
Vendor Sold Aggregate Average Top Price
Curraghmore Stud 21 $7,485,000 $356,429 $1,975,000 (Lot 63)
Cambridge Stud 47 $7,055,000 $150,106 $440,000 (Lot 416)
Waikato Stud  27 $3,965,000 $146,852 $460,000 (Lot 130)
Pencarrow Stud 19 $3,885,000 $204,474 $620,000 (Lot 282)
Haunui Farm 15 $3,305,000 $220,333 $800,000 (Lot 103)
Trelawney Stud  18 $2,840,000 $157,778 $775,000 (Lot 330)
Windsor Park Stud 20 $2,425,000 $121,250 $380,000 (Lot 303)
Westbury Stud 14 $2,212,500 $158,036 $375,000 (Lot 333)
Lyndhurst Farm 12 $1,800,000 $150,000 $300,000 (Lot 18, 259, 438)
Phoenix Park 13 $1,675,000 $128,846 $440,000 (Lot 395)
Leading Vendors by Average (three or more sold)
Vendor  Sold Average Aggregate Top Price
Curraghmore Stud 21 $356,429 $7,485,000 $1,975,000 (Lot 63)
Haunui Farm 15 $220,333 $3,305,000 $800,000 (Lot 103)
Pencarrow Stud 19 $204,474 $3,885,000 $620,000 (Lot 282)
Hallmark Stud 7 $168,214 $1,177,500 $300,000 (Lot 258)
Westbury Stud 14 $158,036 $2,212,500 $375,000 (Lot 333)
Trelawney Stud 18 $157,778 $2,840,000 $775,000 (Lot 330)
Cambridge Stud 47 $150,106 $7,055,000 $440,000 (Lot 416)
Lyndhurst Farm 12 $150,000 $1,800,000 $300,000 (Lot 18, 259, 438)
Waikato Stud 27 $146,852 $3,965,000 $460,000 (Lot 130)
Esker Lodge 4 $140,000 $560,000 $200,000 (Lot 59)
Leading Sires by Average (three or more sold)
Sire Sold Average Aggregate Top Price
Fastnet Rock 14 $419,286 $5,870,000 $1,975,000 (Lot 63)
Commands 3 $301,667 $905,000 $425,000 (Lot 275)
Street Cry 3 $263,333 $790,000 $360,000 (Lot 318)
Redoute's Choice 4 $258,750 $1,035,000 $425,000 (Lot 414)
High Chaparral 24 $223,333 $5,360,000 $620,000 (Lot 282)
Zabeel 32 $218,125 $6,980,000 $800,000 (Lot 103)
Encosta de Lago 6 $212,500 $1,275,000 $425,000 (Lot 132)
Starcraft 3 $176,667 $530,000 $310,000 (Lot 52)
Flying Spur 5 $176,000 $880,000 $400,000 (Lot 374)
Thorn Park 9 $158,333 $1,425,000 $440,000 (Lot 395)
Leading First Season Sires (three or more sold)
Sire Sold Average Aggregate Top Price
Tavistock 10 $136,000 $1,360,000 $270,000 (Lot 278)
Denman 4 $135,000 $540,000 $170,000 (Lot 108)
Mastercraftsman 31 $95,968 $2,975,000 $220,000 (Lot 61)
Nom du Jeu 3 $63,333 $190,000 $100,000 (Lot 350)