KEY POINTS:
The colour of money and smell of horse-flesh is attracting buyers from all four corners of the globe.
But Karaka is not a place for the faint-hearted.
The racing industry's big event - the 81st annual New Zealand Bloodstock National Yearling Sales Series - kicks off today and experts are predicting two colts, bred from champion mares Sunline and Ethereal, will bring in seven-figure sums.
The event, which runs until Sunday, is to be opened by Prime Minister Helen Clark at 11am.
"It's six days of selling yearlings," New Zealand Bloodstock marketing manager Petrea Vela said yesterday. "There's 1362 yearlings catalogued for sale.
"The first two days are the premiere sales, so that's really where the cream of the crop are offered for sale - that's 460 horses."
The event attracts national and international buyers.
"We have buyers from all over the world - Australia, Hong Kong, Ireland, England, Malaysia, Singapore, Japan, Korea," Ms Vela said.
Overseas visitors were welcomed with a cocktail party last night at Ellerslie.
"They are predominantly racehorse trainers and bloodstock agents, but lots of racing enthusiasts and racehorse owners come along with their trainer or agent to help them select a horse."
About 1000 are expected to attend the event today.
"We don't have any sheikhs coming this year but the ruling family in Dubai will have representatives attending.
"Sir Patrick Hogan's obviously got a big draft of 70 horses, including a colt out of Sunline, a world champion race mare."
A colt out of Ethereal is also a big drawcard.
"Ethereal was the Melbourne and Caulfield cups winner and was a bit of a darling of racegoers when she was racing in 2001. They are the first colts from these two mares so they are attracting a lot of attention."
Ms Vela said it was difficult to know how much they would sell for.
"Certainly six figures and whether we get seven figures ... that wouldn't be altogether surprising."
Prominent Hong Kong trainer Paul O'Sullivan is attending while businessman Eric Watson and Olympic gold medal equestrian winner Mark Todd will have yearlings up for sale.
Prices would start at around $2000 and could hit the seven-figure sum.
"There's something for every single buyer and every single budget."
The horses are largely from New Zealand. "We have one or two bred in Australia, but it's predominantly bred in New Zealand."
Next year, all the yearling from this year's sale will be eligible for a new $1 million race.
