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NZB Karaka Yearlings: Final Average Up 1.2%
The NZ Bloodstock National Yearling Sales Series (2-day Premier Sale, 3-day Select Sale & 2-day Festival Sale) concluded at Karaka "buoyed by a powerful international buying bench that under-pinned the successful week". Overall 1,050 lots sold for NZ$88,094,250 (down 6% on last year's 1,129 sold for NZ$93,567,400 which was the 2nd highest aggregate on record); however this year's gross is up 18% on the 2009 turnover, when 1,199 horses sold for NZ$74,867,700. Importantly the final average of NZ$$83,899 was up 1.2% (last year NZ$82,876) & up a massive 34.4% on 2009's average of NZ$62,442. Similarly the final median of NZ$45,000 was up 7.1% (last year NZ$42,000) & up 50% on 2009's median of NZ$30,000. This year's final clearance rate was 72% (76% last year & 77% in 2009). NZB co-managing director Andrew Seabrook identified the "distinction between the local & international buying strength as the most significant influence on this year's Sale. It seems a combination of success by the NZ horses & a favourable exchange rate lured a lot of Australians to Karaka this year & we're very grateful for their participation. It is worrying however to see the overall NZ spend down over NZ$11 million this year, which had an obvious effect on clearance rates at our Select & Festival Sales. Fortunately the force of the Australian buying strength went some way towards making up for a weakness from our local buyers, helping us to post extremely pleasing results."