Record price set at Karaka Festival Sale

TRADE at Karaka in New Zealand remained buoyant on Sunday as the Festival Yearling Sale opened with gains in average and median.

The two-day auction follows on from last week's highly successful renewals of the Premier and Select Yearling Sales, both of which returned figures well above those recorded in 2009.

Sunday's session saw 169 horses - 72 per cent of those offered - sell for a total of NZ$2,730,050 (£1,203,016/€1,375,202). The average is 35 per cent ahead of last year at NZ$16,154 (£7,118/€8,137) while the median isten per cent up at NZ$11,000 (£4,847/€5,541).

The session also saw a new Festival record price set when Auckland-based buyer David Cole went to NZ$90,000 (£39,659/€45,335) to secure a son of shuttler Elusive City.

The colt represented a successful pinhook for vendor John Hay, who had paid just NZ$12,000 for the colt at the Karaka National Weanling, Broodmare and Mixed Bloodstock Sale in May.

"He's a rangy type of Elusive City with a lot of scope and a lovely shoulder and top line," said Cole. "He'll make a great late two-year-old and early three-year-old."

A son of the deceased Ishiguru also proved popular, selling to P. A. Willetts for NZ$80,000 (£35,252/€40,298).