New Zealand Bloodstock will consider tweaks rather than making any wholesale changes to its National Yearling Sale format after conducting the company’s most successful Karaka auction in six years.
The 98th New Zealand sale was completed Feb. 2 with the sixth and final session bringing an end to a huge week at the Auckland complex in which almost NZ$92 million changed hands—the surge in spending the result of increased action from both domestic and Australian buyers predominantly in the main session.
The results over the past six days justified NZB managing director Andrew Seabrook’s presale confidence, which was gained from a successful Ready to Run Sale last November and the injection of prize money and initiatives by the racing industry’s new wagering partner, Entain.
There were 748 horses sold at an average of NZ$122,783 (US$74,443, NZ$1=US$0.6063), a jump of 10% year-on-year while the median was NZ$90,000 ($54,567).
“I was confident that we could hold the figures from last year. So, to be up 12% is fantastic,” Seabrook told ANZ Bloodstock News.
“It was actually very encouraging (the level of trade) on the final day of Book 2. Like last year, people were climbing over broken glass at the end trying to buy horses, so all in all, I’m delighted.
“It gives us a strong base going forward and something that we can build on. As I’ve said numerous times, I think it’s going to take a while for the money to filter down to the average Kiwi participant. I think it’s going to take a year or two or three before we see the fruits of all this increased prize money and races.”
Not since 2018 has more money been spent at Karaka when the NZB sale grossed NZ$96,629,750 across three books.
Seabrook added: “What I would say, even though the New Zealanders spent $2 million more in Book 1 compared to last year, the talk from the Kiwis who did buy is that they’ve been able to sell their shares pretty quickly, so that’s a good sign and that should give others the confidence to say, ‘hey, selling horses at the moment is perhaps easier than it has been for a few years.'”
The 2024 sale was highlighted by the NZ$1.6 million sale of the sister to Prowess, who was sold early on Day 1 of the Karaka auction in a milestone achievement for Hallmark Stud’s Baker family, while the second book closed out with the sale of a NZ$160,000 filly by South Island stallion Ancient Spirit , Germany and Italy’s champion miler of 2018.
She was one of 27 Book 2 yearlings to sell for NZ$100,000 or more over the past three years compared with 19 sold for six figures at the corresponding sale in 2023.
Debate raged following last year’s Karaka sale about the six-day format—three Book 1 sessions and another three shortened days of selling in Book 2—and despite pressure to alter the structure of the 2024 sale, NZB stuck solid.
“Everyone’s got their different opinions on what the format should be, but we’re in the business of selling horses and we hate turning horses away,” Seabrook said.
The Australasian sales caravan moves on to Sydney with Inglis holding its Classic Yearling Sale Feb. 11-13.
