Wallace jumps at chance to tap into top New Zealand bloodline
Karaka Book 1 closes with strong trade continuing into fourth day
Michael Wallace believed he could not miss the opportunity to access one of the best families in the New Zealand studbook after he went to NZ$975,000 to secure a daughter of Tavistock from the famed Diamond Lover family on Wednesday.
The filly was the highest-priced lot on the fourth and final day of Book 1 of the New Zealand Bloodstock Karaka Yearling Sale and the third highest-priced horse of the sale behind the NZ$1.025 million Savabeel colt and NZ$1 million Fastnet Rock colt sold earlier in the week.
At the conclusion of the extended book one format, held for the first time this year, a total of 539 yearlings had been sold for an aggregate in excess of NZ$83.5 million and an average of NZ$155,007.
The Book 1 median closed at NZ$110,000, with a clearance rate of 82 per cent.
Wednesday’s top lot, which was offered by Cambridge Stud, is the first foal out Group One winner Diamond Lover’s unraced Zabeel daughter Special Diamond, who has produced three winners from six foals to race.
Diamond Lover herself is out of Eight Carat, making her a half-sister to multiple Group 1 winner Octagonal and fellow elite winner and high-class broodmare Marquise, who produced six winners including Group 1 winner Shower Of Roses.
Wallace, who was acting on behalf of the China Horse Club, said that with the upcoming change in ownership of Cambridge Stud, a filly with such bloodlines may not come on the market again.
"What is there to say? Patrick is putting up his world class pedigrees and you wouldn’t be sure that you are going to get this opportunity again with the change of ownership," Wallace said.
"You take these opportunities when they arise and the filly has a world class pedigree, is a world class type and is by a world class stallion. That is what they cost."
Sir Patrick Hogan honoured
Before selling the first lot of day four on Wednesday, a presentation was held in honour of Cambridge Stud founder Sir Patrick Hogan, who presented his last draft at the sale.
Sir Patrick and Lady Hogan sold Cambridge Stud to Auckland couple Brendan and Jo Lindsay late last year, with the pair set to take over in April.
Cambridge Stud was leading vendor for 32 consecutive years, sold the top-priced yearling on 24 occasions and produced a total of 11 NZ$1 million lots.
"I would like to thank NZB for honouring Justine and I for our efforts over the years. I am not going away, but I won’t be seen like I have in the past," Sir Patrick said.
NZB chairman Joe Walls and owner Sir Peter Vela both spoke at the presentation, congratulating Sir Patrick and Lady Hogan on their long contribution to the breeding and racing industry.
Sir Patrick plans to continue breeding with a reduced broodmare band, with yearlings to be consigned by different vendors on his behalf from 2019.
"Even though I may not be involved myself in marketing yearlings anymore at the sales, I hope to have one or two, or half a dozen, in other vendors’ hands on my behalf," Sir Patrick said.
New format hailed a success
NZB managing director Andrew Seabrook said that the new book one format, which was extended to a catalogue of 700 lots over four sessions, had been a success.
"This sale has already exceeded all expectations," Seabrook said.
"For the book one turnover to exceed 2017’s total sale aggregate is remarkable. One of our ambitions in designing the new format was to retain international buyers on site for longer, so to see today’s activity so strong right to the end, with a clearance of 85 per cent for day four, goes a long way towards validating the success of the new format."
Sale Results - Days One, Two, Three and Four
Sold 539 (82.5%)
Top Lot NZ$1,025,000
Leading vendor Waikato Stud’s Chittick also praised the bigger book one catalogue format.
"The new format, to me, has just been a masterstroke and so successful,” Chittick said. “Everybody in the NZB team has been Group One quality."
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