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Festival Sale Rounds Out Karaka 2017
New Zealand Bloodstock’s Festival Sale concluded the National Yearling Sales Series yesterday with pleasing results in terms of clearance and the day’s top price. In total, 157 horses sold for a clearance rate of 78% with the top price of $90,000 the highest price paid in the session since 2013. The total traded was $2,332,000 (down from $3,020,200 last year) for an average of $14,854 (down from $16,065 last year) and the median dropped from last year’s figure of $12,000 to equal 2015’s figure of $10,000. “It was pleasing to see the Sale end up with 78% clearance and to have buyers from Australia, Hong Kong and Singapore stay on,” said New Zealand Bloodstock Managing Director Andrew Seabrook. “We also have some new initiatives domestically with the likes of the New Zealand Chinese Jockey Club that could grow to be quite considerable contributors to the industry.” The final result for Karaka 2017 saw $82 million traded, down 5% on the previous record breaking edition. The average remained steady at $86,973 versus last year's $88,042. The median declined to $50,000, $5,000 less than last year’s record and $5,000 more than in 2015. The clearance rate was an encouraging 78%, up from 75% in 2015 and down slightly from 2016 (80%). All horses purchased at Karaka this week are eligible for the lucrative Karaka Million Series with two $1 million races now available for graduates as two and three year olds. Nominations for this series must be received by 5pm Tuesday 7 March 2017.