KARAKA 2008: Records Smashed at Karaka Premier Sale
29 January 2008
Continuing the incredible success of Day One, another super day's trade at New Zealand Bloodstock's Karaka sales centre saw the 2008 Premier Sale blow previous records away.
With the Karaka sale-ring packed to the rafters with buyers, spirited bidding was witnessed right throughout the two days. The result was a new record average, median and aggregate for the Premier Sale, and a huge vote of confidence for the New Zealand industry.
With 494 yearlings catalogued at this year's Premier Sale, by the close of proceedings a total of 387 lots had been sold for $77,115,500. This reflects a huge 36% increase in turnover from last year's Premier Sale, where 363 lots were sold for $56,834,400. Incredibly, it is less than $4.3m shy of last year's record turnover for the entire Karaka Sales Series (1023 horses sold for $81,375,700), with 1062 horses still to be offered for sale over the course of the week ahead.
A new record median of $150,000 was set by the end of today, up 36% on the $110,000 record set last year. The final average price was $199,265, a huge 27% increase on last year's record of $156,567, with the clearance rate also up at a very strong 85.6%.
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2008 Premier Sale topper - Lot 299 by Redoute's Choice from Popsy. |
Adding further evidence to the depth of the market, these results were achieved with just one yearling surpassing seven figures. This was for the Redoute's Choice colt out of dual Group 1 winning Sir Tristram mare Popsy which fetched $1,450,000. Offered by Esker Lodge, the colt was knocked down to Matamata trainer John Sargent.
New Zealand Bloodstock Marketing Manager Petrea Vela said the results exceeded all expectations the company had leading into the Sale.
"We knew that we had a strong catalogue this year but we never predicted the sort of results we have seen over the past two days. One of the most impressive is the median figure, which at $150,000 is just less than last year's record average at this session and shows the enormous strength we were seeing to the middle of the market lot after lot. But to increase our turnover at this session by more than $20 million with just 24 more horses sold really says it all."
"Being the first Sale in the southern hemisphere helped this year, but we still needed a very strong catalogue and powerful buying bench to deliver these sorts of results. We have been overwhelmed by the support the Sale received by both local and international buyers so far, and hope it can continue throughout the rest of the week."
The most prominent name on this year's results sheets was first time buyer to Karaka, Nathan Tinkler of Patinack Farm, purchaser of the top lot of Day One, a One Cool Cat filly from Diamond Cashel bought for $925,000, and leading buyer overall. In total, Patinack Farm accounted for 24 yearlings purchased for $7,920,000.
An electrician by trade, Tinkler has recently sold his own mining company giving him an opportunity to invest in his bloodstock interests.
"Business has been kind to me, and I now have a bit more time to play with horses. We're trying to build a broodmare band and looking at potential stallions, and we're aiming to spread the risk a bit by buying them as yearlings.
"This filly took everyone's eye and we had to beat off a bit of competition to get her. At the end of the day she is a half-sister to Royal Asscher and if you are going to get a filly out of that family, well, it was always going to cost us a lot of money," Tinkler commented.
Buyers from right across Australia were a very strong presence at Karaka, with New Zealand and Hong Kong buyers also prominent on the results sheets alongside buyers from South Africa, Singapore, England and Ireland.
Sir Patrick Hogan's Cambridge Stud this year committed his entire draft of yearlings to the Karaka Sale, with result that Cambridge Stud was the leading vendor by aggregate with 47 yearlings sold for $14,880,000 at an average of $316,596, including a top price of $925,000 for the Diamond Cashel filly that topped Day One.
Commenting on his successful Sale Hogan said, "My team worked very hard through the spring getting the horses conditioned and ready for the Sale and I've been fortunate to have a very good, correct draft, probably equal to, if not the best, line-up I've ever put through the Sale. But the main reason we've enjoyed such successful results is the confidence that the buyers have shown in my draft of horses purely because they knew everything was at Karaka."
"New Zealand horses are racing so successfully around the world, our stallion strength has improved beyond belief, and there's a resurgence of overseas people who want New Zealand bred and reared yearlings in their stable. These results reflect an exciting new phase in our industry's history."
With the top lot of the Sale, the leading sire was Redoute's Choice who had just three entries go through the ring. These were sold for an average of $773,333.
Second on the sires list, and leading first season sire, was Coolmore Stud stallion Fastnet Rock, whose first crop was in hot demand. The sire's 11 yearlings were sold for an average of $385,455, including a top price of $700,000 for the colt out of Affirmed Lane (by Affirmed), a half-brother to multiple Group performer J'Adane. The grey colt was knocked down to the Sale's second leading buyer, David Ellis of Te Akau Stud
It was no surprise that Cambridge Stud resident sire Zabeel featured prominently on the sire tables with a draft of 47 yearlings averaging $366,944. This included a top price of $900,000 paid by David Ellis on Day One of the Premier Sale, for a colt from Encosta de Lago mare La Quinta Gold.
The 82nd National Yearling Sales Series continues tomorrow with Day One of the Select Sale, starting at 12pm from Karaka.
2008 Karaka Premier Sale Statistics
| Overall 2008 | Overall 2007 | |
|---|---|---|
| Average | $199,265 | $156,567 |
| Aggregate | $77,115,500 | $56,834,000 |
| Median | $150,000 | $110,000 |
| Lots Catalogued | 494 | 459 |
| Lots Sold | 387 | 363 |
| Clearance Rate | 85.6% | 84% |
| 2008 Top Price - Redoute's Choice x Popsy Colt (Lot 299) | $1,450,000 | |
| 2007 Top Price - Zabeel x Sunline Colt (Lot 411) | $2,000,000 | |
Top Ten Lots
| Lot | Type | Breeding | Vendor | Purchaser | Price |
|---|---|---|---|---|---|
| 299 | B.C | Redoute's Choice / Popsy | ESKER LODGE | MR J SARGENT (MATAMATA) | $1,450,000 |
| 82 | B.F | One Cool Cat / Diamond Cashel | CAMBRIDGE STUD | PATINACK FARM (QLD) | $925,000 |
| 219 | B.C | Zabeel / La Quinta Gold | CAMBRIDGE STUD | MR DC ELLIS (TE AKAU) | $900,000 |
| 342 | B.C | Encosta de Lago / Sea of Faith | CURRAGHMORE STUD | DEAN HAWTHORNE BLOODSTOCK (CAMBRIDGE) | $870,000 |
| 41 | B.C | Flying Spur / Chicago Wonder | ASCOT FARM | SHADWELL STUD AUSTRALASIA (STH AUSTRALIA) | $850,000 |
| 70 | B.C | Zabeel / Dane Dancer | CAMBRIDGE STUD | MRS GM WATERHOUSE (NSW) | $820,000 |
| 246 | B.F | Rock of Gibraltar / Marquise | CAMBRIDGE STUD | MR BJ & MRS J LINDSAY (AUCKLAND) | $800,000 |
| 137 | B.F | Fastnet Rock / Galapagos Girl | TRELAWNEY STUD | BBA - IRELAND (IRELAND) | $700,000 |
| 471 | G.C | Fastnet Rock / Affirmed Lane | PENCARROW STUD | MR DC ELLIS (TE AKAU) | $700,000 |
| 333 | B.F | Encosta de Lago / Rose Pompadour | CURRAGHMORE STUD | PATINACK FARM (QLD) | $680,000 |
Top Ten Purchasers by Aggregate
| Purchaser | Bought | Aggregate | Average | Top Price |
|---|---|---|---|---|
| PATINACK FARM (QLD) | 24 | $7,920,000 | $330,000 | $925,000 |
| MR DC ELLIS (TE AKAU) | 22 | $5,595,000 | $254,318 | $900,000 |
| HONG KONG JOCKEY CLUB | 24 | $4,885,000 | $203,542 | $480,000 |
| NEW ZEALAND BLOODSTOCK (as agent) | 26 | $4,215,000 | $162,115 | $360,000 |
| DANNY O'BRIEN RACING (VIC) | 16 | $3,200,000 | $200,000 | $550,000 |
| DEAN HAWTHORNE BLOODSTOCK (CAMBRIDGE) | 9 | $3,005,000 | $333,889 | $870,000 |
| MR J SARGENT (MATAMATA) | 4 | $1,920,000 | $480,000 | $1,450,000 |
| MR AJ CUMMINGS (NSW) | 9 | $1,760,000 | $195,556 | $375,000 |
| JOHN CHALMERS BLOODSTOCK (WA) | 10 | $1,615,000 | $161,500 | $320,000 |
| MAGUS EQUINE(HONG KONG) | 5 | $1,430,000 | $286,000 | $440,000 |
Top Ten Vendors by Aggregate
| Vendor | Sold | Aggregate | Average | Top Price |
|---|---|---|---|---|
| CAMBRIDGE STUD | 47 | $14,880,000 | $316,596 | $925,000 |
| CURRAGHMORE STUD | 25 | $6,815,000 | $272,600 | $870,000 |
| WAIKATO STUD | 36 | $5,602,000 | $155,611 | $480,000 |
| WINDSOR PARK STUD | 28 | $4,362,500 | $155,804 | $650,000 |
| PENCARROW STUD | 14 | $3,515,000 | $251,071 | $700,000 |
| TRELAWNEY STUD | 17 | $3,272,500 | $192,500 | $700,000 |
| HAUNUI FARM LTD | 15 | $2,790,000 | $186,000 | $525,000 |
| WESTBURY STUD | 17 | $2,587,500 | $152,206 | $500,000 |
| ESKER LODGE | 8 | $2,400,000 | $300,000 | $1,450,000 |
| LYNDHURST FARM | 11 | $2,272,500 | $206,591 | $500,000 |
Top Ten Vendors by Average (3 or more sold)
| Vendor | Sold | Average | Aggregate | Top Price |
|---|---|---|---|---|
| ASCOT FARM | 5 | $317,000 | $1,585,000 | $850,000 |
| CAMBRIDGE STUD | 47 | $316,596 | $14,880,000 | $925,000 |
| ESKER LODGE | 8 | $300,000 | $2,400,000 | $1,450,000 |
| CURRAGHMORE STUD | 25 | $272,600 | $6,815,000 | $870,000 |
| PENCARROW STUD | 14 | $251,071 | $3,515,000 | $700,000 |
| HALLMARK STUD | 7 | $244,286 | $1,710,000 | $420,000 |
| BELVEDERE FARM | 3 | $243,333 | $730,000 | $440,000 |
| WHAKANUI STUD | 7 | $237,143 | $1,660,000 | $600,000 |
| SOLILOQUY LODGE | 7 | $225,000 | $1,575,000 | $480,000 |
| RODMOR STUD | 6 | $221,833 | $1,331,000 | $600,000 |
Top Ten Sires by Average (3 or more sold)
| Sire | Sold | Average | Aggregate | Top Price |
|---|---|---|---|---|
| Redoute's Choice | 3 | $773,333 | $2,320,000 | $1,450,000 |
| Fastnet Rock | 11 | $385,455 | $4,240,000 | $700,000 |
| Zabeel | 36 | $366,944 | $13,210,000 | $900,000 |
| Encosta de Lago | 16 | $349,375 | $5,590,000 | $870,000 |
| Flying Spur | 7 | $297,857 | $2,085,000 | $850,000 |
| Rock of Gibraltar | 9 | $266,111 | $2,395,000 | $800,000 |
| Danehill Dancer | 5 | $242,500 | $1,212,500 | $450,000 |
| Elvstroem | 3 | $236,667 | $710,000 | $350,000 |
| O'Reilly | 10 | $236,000 | $2,360,000 | $600,000 |
| Exceed and Excel | 3 | $223,333 | $670,000 | $290,000 |
Leading First Season Sires by Average (3 or more sold)
| Sire | Sold | Average | Aggregate | Top Price |
|---|---|---|---|---|
| Fastnet Rock | 11 | $385,455 | $4,240,000 | $700,000 |
| Elvstroem | 3 | $236,667 | $710,000 | $350,000 |
| One Cool Cat | 24 | $192,708 | $4,625,000 | $925,000 |
| Savabeel | 27 | $141,185 | $3,812,000 | $300,000 |
| High Chaparral | 21 | $136,667 | $2,870,000 | $300,000 |
| King's Chapel | 3 | $131,667 | $395,000 | $260,000 |
| Bachelor Duke | 5 | $123,500 | $617,500 | $200,000 |
| Johar | 18 | $117,083 | $2,107,500 | $400,000 |
| Al Maher | 4 | $93,750 | $375,000 | $170,000 |