KEY POINTS:
Two rays of sunshine have pierced the economic clouds hovering over this week's standardbred yearling sales.
The four days of sales start at Karaka on Saturday before moving to Christchurch for three more days from next Monday.
With the average price at the recent Karaka thoroughbred sales dipping
by around 25 per cent, in line with many overseas sales since the start of the rapid economic downturn last year, vendors are understandably nervous.
But there were at least some positive vibes coming out of Melbourne last weekend which suggest the harness racing sales may not be a financial bloodbath.
The first was a huge night for Kiwi-bred horses at Moonee Valley, where they provided the trifecta in the Interdominion Trotting Final - the first two being sales graduates - among a string of New Zealand winners.
But the second, and most important, result out of Melbourne was a huge increase in the average price at the premier Australian Pacing Gold sale last Friday night.
Going against almost all yearling sales trends worldwide, the sale average soared to $36,000 with a clearance rate above 80 per cent.
The premier APG sale is the closest thing Australia has to the Karaka standardbred sale, which is more boutique and consistently has the highest average price in Australasia.
And Bruce Barlass, spokesman for auctioneers PGG Wrightson, sees some huge positives in that.
"What last weekend showed us is that there are still a lot of people around who want to buy the right type of harness horses," he said.
"Sure, some people in harness racing and a lot of people worldwide are hurting. But harness racing itself has never been better off for stakes. We have massive stakes and plans in place to keep most of those.
"And our breeding industry is decades advanced on where it was just a few years ago thanks to semen transport and the whole industry becoming more professional.
"So while we might take a hit, I don't think we will see the same percentage decrease as you have seen at thoroughbred sales."
Barlass said a reduction in the average by up to as much as 20 per cent could be possible but mainly through fewer $200,000 lots which has boosted the average so much in recent years.
"I think the sale will still be very strong through the middle range but maybe there won't be as many $120,000 or $150,000-plus horses, although that often comes down to the individual horse and two people wanting it.
"That will see the average drop but I think plenty of vendors will get what they want."
The exchange rate will also work in New Zealand vendors' favour with Australian buyers, who are expected to be strong at both Karaka and Christchurch.
"It will be tougher than last year for sure, and vendors have been woken up to that. Rather than being the sellers' market of the last five years it will be a buyer's market.
"But that could be a really good thing and get some new people into the industry because they won't get a better time to get involved."
The Karaka sales start at 11am on Saturday.
