KARAKA 2010: Minister Praises Karaka Sales

In a press release from NZ Minister for Racing John Carter's office yesterday, the Minister praises New Zealand Bloodstock's successful 2010 National Yearling Sales Series.

"With spending up more than 20 percent and top international buyers seeking the catalogue stars, the national yearling sales show the intense demand for New Zealand thoroughbreds is unabated," Minister for Racing John Carter said.

"Seven days of yearling sales ended at Karaka [on Monday] with total sales of $93,567,400, more than 20 percent up on the previous year's total of $74,867,700," Mr Carter says.

"It was not only the premier sale that attracted high prices, higher average sales and international buyers. That happened across the select and festival sales as well, showing the strength and depth of our yearling crop.

"Horses are important to the New Zealand economy. Each year they earn about $130 million in exports, support about 18,000 full-time jobs and contribute about $1.5 billion to the economy.

"We are a small nation, but in horse breeding we punch above our weight.

"New Zealand's foal crop is a fraction of Australia's - approximately 4500 versus 17,000 - so it is a credit to our breeding industry that we continue to make such a positive impression across the Tasman, one of the most highly regarded racing environments in the world.

"Sydney-based bloodstock agent James Bester paid the top sale price of $2 million for a colt by champion sire Zabeel and he was one of a number of Australians spending more than $2 million on total yearling purchases. Among them were the likes of the highly regarded Sydney trainer Gai Waterhouse and Melbourne trainer Danny O'Brien.

"There are also markets further afield, with Jayven See from Singapore paying $1 million for a colt and Hong Kong agent Justin Bahen buying 15 yearlings across the series, which is fantastic to see.

"While we like to see our horses do well off-shore, the bulk of the horses at the national yearling sales feed into our own New Zealand racing industry. In fact, one of the top buyers overall was New Zealander David Ellis.

"Breeders are the foundation of our domestic racing industry. The success of that industry is dependent on the quality of horses. Performances on the track, particularly by horses who are supreme athletes, draw the crowds. And the top tier racehorses foster New Zealand's international reputation for producing some of the best quality horses in the world.

"I am heartened to see the results from the 84th National Yearling Sales series at Karaka and hope the yearlings sold in the past week will fulfil their promise for the many owners who will race and possibly later breed from them."