The only thing up on the 2014 NZ Bloodstock Premier Sale was that they Sold 3 more yearlings than in 2013. The rest of the data makes disappointing reading.
The impact of the AUD/NZD exchange rate certainly played its part but it was not the only reason to create a feeling of indifference towards the sale, from many Australian based buyers. Combined with a general lack of commerciality and quality across the board on offer by NZ breeders, these factors produced a perfect storm for NZ Premier Yearling Sale.
Bucking wildly against the world wide trend of strong growth in bloodstock markets and off the back of two strong sales in Australia to start the year, the Kiwi sale was simply not up to scratch and it leaves the team at NZ Bloodstock with some soul searching before the 2015 edition.
If it wasn’t for David Ellis taking home 35 and a few of his fellow countrymen having a dig as well taking home plenty, the sale would be a major concern for industry watchers.
Statistics speak for themselves, especially when compared to the 2013 Premier Sale.
In 2014 there were 326 Yearlings Sold, 3 more than in 2013.
Aggregate $47,122,560 (2013 = $51,051,500) a fall of $3,929,000 (- 7.7%)
Average $144,548 (2013 = $158,054) a fall of $13,506 (- 8.5%)
Median $110,000 (2013 = $120,000) a fall of $10,000 (-8.3%)
The following highlights major concerns:
1) This was the last commercial crop of
ZABEEL. There were 19 of his yearlings sell for an aggregate $3,625,000 (7.7% of the Aggregate) at an average $190,789. Which stallion is going to fill the void left by
ZABEEL into New Zealand’s Premier Sale ?
2) A bigger concern for the sale was Coolmore Stud’s
FASTNET ROCK sold the Top 4 priced yearlings (5th was High Chaparral – also a Coolmore based sire). In total 16 Fastnet Rock yearlings propped up the sale with an aggregate of $5,635,000 and a whopping average of $352,188. That was 2.4 times the sale average.
3) Whilst other leading sires on averages with 3 or more yearlings to sell were also the Australian based contingent:
Commands (3) ave $270,000, High Chaparral (17) ave $201,176 and Encosta De Lago (4) ave $190,000.
4) If we analyse the buyer bench and look at the top 5 by aggregate, again it’s a source of concern. Local racing company Te Akau run by David Ellis signed for 35 yearlings for $6,420,000, Rogerson Bloodstock took 11 yearlings $2,090,000 and Perry Bloodstock grabbed 5 for $1,300,000.
In these 3 locals alone, they signed for 51 of the 326 to sell (15.5%) and added $9,810,000 to the aggregate (20.8%).
Then add in the Hong Kong Jockey Club who signed for 9 yearlings adding $2,285,000 to the aggregate as well.
Only 39% of the aggregate was supplied by Australian based buyers, down from 61% in 2013. Aussie based buyers included:
Peter Moody, Mick Price, Chris Waller, B2B Bloodstock, Hawkes Racing, Bjorn Baker, Jason Warren, Tom Magnier and several others.
It’s certainly not the fault of the team at NZ Bloodstock as yet again they ran their professional sale. However they are simply auctioneers and sell the products that walk through the salering. If the product is not capturing the imagination of the buyers then the breeders must do the soul searching. Propping up the sale with Australian bred stock or pin hooking Australian weanlings is certainly not their answer.
There is one glaring problem that NZ Bloodstock does need to address.
Their flagship Premier Sale needs to be exactly that – a “Premier” Sale. The Best of the Best available in New Zealand. That was obviously not the case in 2014.
Again statistics state the facts:
1) 45 yearlings of the 326 to sell (13.8%) sold for $50,000 of less.
2) 18 yearlings that were passed-in are now on offer for $50,000 or less.
Combined that represents 63 yearlings. These the buyers considered were lacking in type or in pedigree. So why did the selection committee allow these yearlings into the sale catalogue ?
That’s that the point of NZ Bloodstock’s second tier catalogue called “Select” and their third catalogue called “Festival” - to house inferior types or inferior pedigrees.
Dynamic Syndications chose to side-step the NZ Premier this year. We look forward to the upcoming Melbourne and Easter sales to add to our team of 11 yearlings we have already purchased in 2014.