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, the clearance rate strengthened throughout the sale to settle at 76 per cent 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 per cent drop 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," said 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."
Yesterday's highest-priced lot was fittingly the last yearling by Waikato Stud's perennial champion sire O'Reilly to go through the Karaka sale ring. Having attracted feverish bidding from many parties, Cambridge-based conditioner Roger James proved too strong with a final bid of $200,000.
