KEY POINTS:
As the well-heeled sipped champagne and the carpark brimmed with flash European cars, retired Taranaki dairy farmer Eddie Bourke and a few of his mates were parting with close to $1 million for a couple of horses.
It took a little over five minutes for Mr Bourke's syndicate, which includes farmers and a veterinarian, who has never been to a racecourse, to buy two sought-after colts from Southland's Dennis brothers at yesterday's Karaka Premier sales.
The cost: $875,000 excluding GST - $575,000 spent on an O'Reilly-The Glitter colt and then $300,000 on an O'Reilly colt out of The Grin, dam of The Glitter.
As the prices suggests these aren't your average steeds. "They're from probably one of the best families in the country," said Mr Bourke.
"I'm just proud that a Kiwi got to buy these horses and that they will stay in our country, I think it's a good day for us."
Top trainer John Wheeler, who has trained track giants Rough Habit and Our Poetic Prince and Veandercross did Mr Bourke's bidding yesterday beating other buyers from Hong Kong and Australia.
He bought the horses after buying their older brother last year at Karaka for $600,000.
That horse still has not been named and is yet to race but Mr Wheeler is encouraged by what he has seen.
"He has a good attitude but I don't know how quick he is and I haven't put pressure on him yet."
Mr Wheeler said he would be putting the colts through their paces over the coming months at Mr Bourke's Hawera farm and hopes to have them ready to race at 3 years of age.
Among the vendors at Karaka was Olympic equestrian Mark Todd, who had five yearlings at the sales prepared by fellow Olympian Blythe Tait.
Todd was hopeful of selling them before heading back to England in a month's time but given the economic climate this year's event had been a "pretty tough sale".
"It's as everybody expected, some are selling well, some aren't ... you just have to meet the market and try and find a home for these horses."
New Zealand Bloodstock managing director sales and marketing Petrea Vela said sales were down 25 per cent from last year but the average sale price of $150,000 was still pleasing.
"Two years ago that was a record for the sales so even though we're a bit back on last year we are still delighted it's still a good market."
