Racing: Son of Derby winner fetches $1.45m

When mum is a Derby winner from Ellerslie and dad a thoroughbred, there's a fair chance you'll be worth a good few dollars.

And a colt would have made his parents proud yesterday selling at Karaka for $1.45 million.

Sporting icon Ian Smith - reviewing the first day of New Zealand Bloodstock's Karaka yearling sale - suggested that "we lose sight of what level of money is involved in racehorses".

He pointed out that New Zealand soccer was in financial trouble at the level of $800,000, with consideration being given to a $10 levy for all young soccer players.

Matamata trainer John Sargent paid double that level of debt for a colt by headlining Australian-based stallion Redoute's Choice from Derby-winning mare Popsy.

Sargent revealed the most he had previously paid for a yearling was $300,000.

He said the colt was purchased with stallion potential in mind.

The colt's vendor was Hawkes Bay financial whiz Sam Kelt.