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NZB Yearlings Premier Sale Final Average Down 3.7%

Wednesday, 2nd February 2011

Overall at the conclusion of the 2-day Premier Section at the NZB Karaka Yearling Sales series, 375 lots had sold for NZ$65,574,000 (down fractionally on last year’s 362 sold for NZ$65,723,500 but up 23% on 2009’s 366 sold for NZ$53,330,000). Similarly the final average of NZ$174,864 was down 3.7% on last year’s NZ$181,557 (but up 20% on 2009’s NZ$145,710). The median of NZ$140,000 was up 14.3% on last year’s NZ$135,000 (& up 40% on 2009’s NZ$100,000) highlighting the strength of the middle market. The final clearance rate of 79% was marginally down on last year’s 80% (but also up on 2009’s 77%). NZB co-managing director Petrea Vela commented: “Right from the very start of day-2 the competition was intense & it never seemed to let up. To post the 2nd highest median on record is an incredible result & really demonstrates the firepower at the heart of the middle market. Last year's sale was our 2nd best on record, which we never expected to match, so to be within striking distance of those figures is a fantastic result for the industry.”

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