The 2-year-old is out of the Zabeel mare Deduction, who is a three-quarter sister to the former champion international stayer and multiple group one winner Might And Power and a half-sister to the former champion Hong Kong miler Lucky Owners.
"I genuinely think this is the nicest colt I've bought here at Karaka since Darci Brahma," Ellis said. "He's an absolutely stunning colt, on the same cross as It's A Dundeel.
"At the Karaka Sales in January, I bought four colts for a syndicate that had the misfortune of losing the Fastnet Rock colt when he broke his leg at trackwork just a couple of weeks ago so I have bought this colt to replace him.
"He's a colt that we could send to Christchurch for the 2000 Guineas and then train on for the New Zealand Derby and the big staying races in Australia."
Regal Farm also sold a Savabeel gelding from the family of Golden Slipper winner Burst for $260,000 and a half-brother by Holy Roman Emperor to the Wellington Cup winner Young Centaur for $220,000.
Jeremy Whale could only hope the inspection rate of the O'Reilly colt would result in something special in the ring.
The Diamond Lodge principal said the half-brother to the Summoned Stakes winner and group one placegetter Floria had a string of pre-auction admirers, but that didn't always translate into a healthy sale price.
"He had been very popular and we were hoping for a good result and it exceeded all our expectations," Whale said.
The colt was knocked down for $340,000 to the Sydney-based duo of Round Table Racing and James Harron Bloodstock to deal Whale's Diamond Lodge their highest price since presenting their first draft in 2010.
"He was our number one pick of the sale," Round Table's Bruce Slade said. "He's not only physical but we did a lot of stride analysis and he has a great gallop as well as probably the best pedigree in the sale. He picked himself really. Thankfully, we had enough to secure him."
The sale average was $79,580, up nine per cent on last year's record of $72,865.
Similarly the median of $50,000 set a record, up 4 per cent on last year's $48,000 and the clearance rate improved through the day to end up at 62 per cent.
"There has been some very good competition over the past two days, particularly at the top end of the market," NZB co-managing director Petrea Vela said.
"We would have liked to see the clearance rate strengthen even further, but the returns are still ahead of last year with some very pleasing results."
