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Drop In Domestic Spend Hits Select Sale

Monday, 6th February 2017

A clear drop in domestic spend has had a significant impact on this year's New Zealand Bloodstock Select Sale and was the difference between matching last year's healthy results. After a tentative start on Wednesday, clearance strengthened throughout the sale to settle at 76% on Friday with 437 individuals sold over the three days for total receipts of $20,679,500, and an average price of $47,363. The median price remained steady at $40,000, a 16% drop however on last year's median price of $47,500. "Our flat domestic racing industry has had a disappointing effect on the Select Sale and the negative impact it is having is even more evident when looking at the Premier and Select sessions from this week combined," commented New Zealand Bloodstock Managing Director Andrew Seabrook. "Over the past five days over $6.5 million less has been spent by domestic buyers who have historically underpinned the middle market." In the Select Sale international buyers accounted for 42% of the horses bought, spending $10.8 million (52% of the sale's aggregate) while domestic buyers secured 252 horses for $9.86 million (48% of the sale's aggregate). Australian buyers accounted for a quarter of the overall spend with activity also from Hong Kong, Singapore and Great Britain.

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