New Zealand Bloodstock banks on trend of increased demand continuing at Karaka
Kiwi-bred racecourse success another factor in auction house’s renewed optimism ahead of sale which begins today
The booming demand experienced in the Australian yearling market so far this year is expected to flow into this week’s New Zealand Bloodstock Karaka Yearling Sale, an extravaganza showcasing the country’s finest young thoroughbreds, as Kiwi-bred horses enjoy sustained success on racetracks across the Tasman.
For the first time, NZB’s national sale, featuring 1,103 yearlings across two books and six days of selling, will not be in its traditional late January “second-up” slot. Instead, it will take place in March after five record Australian sales have already been held.
Last year’s Karaka sale was hard-hit by the pandemic, with international spend declining year-on-year, but a “cautiously optimistic” NZB director of sales Danny Rolston yesterday suggested that the strong market in 2022 can translate to increased demand, particularly from the pivotal Australian buying bench, when selling on day one begins at 11am (NZ time) today.
“There are two obvious big factors at play here for us this week and they are, one, what it costs to buy a yearling in Australia at the moment, which will play into our hands with the New Zealand horses, and, two, is the success of the New Zealand runners in the past two years, particularly in Australia,” Rolston told ANZ Bloodstock News.
“It was highlighted again on Saturday with more Group success (by Inspirational Girl and Annavisto at Flemington) and horses on the undercard like Yonce, who is unbeaten, and a few others coming up through the grade and then that Group 1 (Futurity) trifecta last weekend.
“I think the (New Zealand-bred) runners on the track are doing us a massive favour and the value that we’re going to be offering this week.”
Local agent Phill Cataldo has been one of the New Zealand industry’s “workhorses” over the past two years, assisting numerous Australian and Hong Kong clients who have been unable to attend the Karaka sale due to the border closure, and he will again be called upon to provide his opinion and feedback at this 2022 sale.
“The mood is a bit flat without the Aussie or Hong Kong agents and trainers but technology has stepped in to make things more convenient,” he said.
“Interest in the sale, though, remains good … and the stallion selection is better than I’ve seen in some time.
“The new blood looks appealing and I like what I’ve seen from the yearlings by U S Navy Flag and Ace High, which are nice scopy types. Staphanos is another whose stock I like and the stallions with three-year-olds, like Tivaci and Turn Me Loose, are also very promising.”
A number of New Zealand agents and trainers who are based overseas have made the last-minute decision to be in attendance at Karaka following prime minister Jacinda Ardern’s decision early last week to scrap the mandatory isolation period for international arrivals and that has added weight to the buying bench.
Agent Dean Hawthorne, who is one to take advantage of the border relaxation, indicated that the top-end of the Karaka market would take care of itself, but he questioned whether the New Zealand’s domestic buying bench had the depth to cover the more than 1,000 horses catalogued.
“I’ve been doing a lot of work for my Australian clients, being their eyes and ears, but many will do their bidding online or on the phone,” said Hawthorne, who has been at the Australian yearling sales so far this year assisting Lindsay Park trainers Ben and JD Hayes, among others.
Australia-based Kiwi trainers John Sargent, Trent Busuttin and Kacy Fogden, as well as the US-based agent Mick Wallace, who has already been Down Under this year working the Magic Millions and Inglis sales on behalf of his clients, which include Sydney trainer Michael Freedman, have also jetted into Auckland for the Karaka sale as a result of the border reprieve.
“I will be working for mainly Australian-based clients and, as soon as I knew I could get here, I got on the phone,” Wallace said yesterday.
“The traction has been very good, so hopefully we can translate that to the auction ring. While I could have used the online platforms during the sale, as the videos are great, there is nothing like being here in person and talking to the people who you have built relationships with, as they know what you are looking for.
“You get a greater feel for what is around and the mood of the market, so I would always like to do this in person where I can.”
Bruce Perry, who like his New Zealand peer Cataldo has remained in his home country for much of the pandemic, said the country’s reputation for breeding quality middle-distance horses was again attracting the attention of international buyers.
“We have a great history of breeding them and with yesterday’s results over there you are still seeing the (NZ) suffix represented at the highest level,” Perry said.
“We had a long shortlist last year and pretty much exactly the same again this year, where we have plenty of depth to it with lots of nice horses. We still need some of our new stallions to come through the ranks, which I’m sure some of them are going to.
“There are plenty of nice families with some new blood in the broodmare bands but there are also some great New Zealand families represented here that just keep doing the job.”
Vendor Sam Williams of Little Avondale Stud has 32 yearlings on offer across Books 1 and 2, including lots by resident stallions Time Test (Dubawi) and Per Incanto (Street Cry), the latter the sire of the top-class John O’Shea-trained, Newmarket Handicap (Gr 1, 1200m)-bound sprinter Lost And Running.
“The interest has been really good and I’ve been very happy with the way it’s gone. Obviously, we would have loved to see our Australian friends here, we really would, but we’ve got to do the best we can,” Williams said.
“The Kiwi agents have been very proactive and doing a wonderful job. Everyone is trying their utmost to be as transparent as possible and supply as much information as we can to help to sell the dream.”
The placement of the Karaka sale, which was pushed back this year in anticipation that the international border would be reopened to all comers, will be debated by buyers and vendors after the sale.
“In a soft market, being third or fourth at the line would certainly be a disadvantage but I think at the moment, while the clearance rates and averages are the way they are, people will be looking strongly at Karaka,” Rolston said.
“The border announcement (expatriate Kiwis allowed back) wasn’t the Holy Grail that we would have hoped for, but it was a lot better than what we were looking like a week ago.
“The grounds have been really busy and everyone’s really excited to have a few of the non-local New Zealanders on the ground and it’s full steam ahead out here.”
Rolston also suggested that the later sale had led to a far more mature group of yearlings arriving at the complex last week.
“The feedback we’ve had from the vendors, agents and trainers is that the later sale is a big advantage with the way they’ve been able to prepare the yearlings, more so in that the later developing yearlings have had the opportunity to catch up to the earlier foals,” he said.
Agent Wallace added: “The extra six weeks means a better top line for yearlings, it’s not too hot and the horses seem happier.”
Lots to watch – Book 1
Breeding Vendor
Day 1
10 Savabeel-Thee Achiever (O’Reilly) colt Milan Park
61 Snitzel-Xpression (Showcasing) filly Haunui Farm
67 Tavistock-Ziffel (Zabeel) colt Cambridge Stud
161 Savabeel-Chandelier (O’Reilly) colt Waikato Stud
184 Pierro-Courageousness (Medaglia d’Oro) colt Westbury Stud
190 Savabeel-Cutting Remark (Encosta De Lago) filly Haunui Farm
217 Snitzel-Zleonora (Makfi) filly Blandford Lodge
Day 2
225 Almanzor-Enjay (High Chaparral) filly Cambridge Stud
236 Justify-Fair Isle (Fastnet Rock) filly Pencarrow Stud
266 Savabeel-Gallwitz (Bernardini) colt Trelawney Stud
274 Written Tycoon-Glamour Gal (Foxwedge) filly Highline Thoroughbreds
333 Almanzor-Its Our Showtime (Showcasing) Cambridge Stud
351 Savabeel-Kona (New Approach) colt Waikato Stud
410 Fastnet Rock-Memories Of You filly Curraghmore
429 Justify-Mongolian Beauty (Fastnet Rock) colt Hallmark Stud
Day 3
489 Pierro-Pica Pica (Stravinsky) filly Wentwood Grange
491 Savabeel-Pinata (Pins) colt Waikato Stud
528 Savabeel-Relentless Desire (O’Reilly) colt Waikato Stud
530 Justify-Repeat (Darci Brahma) colt The Oaks Stud
554 The Autumn Sun-Sara Ann (Stravinsky) colt Woburn Farm
563 Savabeel-Scintillula (Galileo) filly Pencarrow Stud
595 The Autumn Sun-Sopraffina (High Chaparral) colt Pencarrow Stud
596 I Am Invincible-Sopra Tutto (Van Nistelrooy) filly Pencarrow Stud
STAY UP TO DATE WITH THE LATEST FROM KARAKA 2022 VIA ANZ’s SOCIAL CHANNELS