The New Zealand Bloodstock Premier Yearling Sale commenced Monday 27 January and concludes Tuesday 28 January. A sale that has been good to Team Dynamic over the past few years with horses such as Multiple Stakes Winner
DANCES ON STARS along with city winners Platamone Castle and Boulevard Barron, we were keen to head across the ditch again in 2014 to see if we could add another one or two to the books.
Dances On Stars - Winner of the CARRINGTON STAKES LR on 1/1/14
However we elected to stay at home this year and
“Buy Australian”.
Whilst there was some magnificent pedigree pages listed throughout their catalogue, from Dynamic Syndications perspective, before physical inspections, there were less than 50 yearlings in the catalogue that actually matched our strict genetic and commerciality pedigree analysis which would appeal to our clients wanting to race horses in Australia. Many of those yearlings we had identified would be at the top of the sale and over our $250,000 threshold.
However the biggest reason behind Dynamic staying in Australia was the unfavourable exchange rate. In the past few years we Aussies had the luxury of buying at a rate of around $1.20 - $1.25 which offered excellent value for money.
In 2014, the exchange rate has fallen to $1.05. Add in the fact that we need to fly the yearling’s home that brings the costs of buying a yearling in NZ back to parity.
As a result we anticipated that the middle market would be strongly supported by the local Kiwi trainers and Asian based trainers and there would be limited to no value for money this year.
Having already picked the best available yearlings at the
Magic Millions (9) and the
Sydney Classic (2), Team Dynamic made the business decision to keep our ammunition for purchases at the Inglis Premier in Melbourne and the Inglis Australian Easter Sale.
Reviewing the results and chatting with our sources at the sales, the NZ market is a lot softer than the Gold Coast was but naturally, the highly desirable lots are selling very strongly. A review of the Australian buys on Day 1 appears to support our theory and Australian’s have been quite compared to previous years.
The local Kiwi buyers claimed 43% of the catalogue on Day 1 up from 28% in 2013.
On the opening day 157 lots found a new home in line with last year’s sale at 158.
In NZ Dollars - The Gross was down $1,189,000 compared to 2013, as was the Average $151,347 ($161,332), whilst the median was up slightly at $120,000 ($117,500). However most disappointing was the poor clearance rate which fell sharply to just 72%. A sign that local breeders were struggling to come to grips with the market and their own expectations of their bloodstock on offer.
Day 2 should prove very interesting.