Elusive City colt tops New Zealand sale finale

The two-day Festival Sale wrapped up in Karaka, New Zealand, yesterday,

concluding New Zealand Bloodstock's National Yearling Sales Series. It was the

young Elusive Quality sire Elusive City who provided the top price for the

second day in a row when a son, catalogued as Hip No. 1636, was knocked down to

David Cole for NZ$77,500. The colt was offered by Haunui Farm and was produced

by the unraced Dream Well (Fr) mare Contemplate.

The Festival Sale followed the trend set by the Premier and Select Sales

throughout last week, with good competition on the better offerings, and the

sale maintained reasonably well given the current international economic woes.

Total gross for the Festival Sale was NZ$4,498,700, down 11 percent on last

year's turnover of NZ$5,073,850. With 375 of the 526 horses sold, the clearance

rate was a very solid 81 percent. Cumulative average was NZ$11,997, down 29

percent on a record NZ$16,857 in 2008, with a healthy median of NZ$10,000, which

was down 17 percent from $12,000 in 2008.

New Zealand Bloodstock Managing Director Petrea Vela was pleased with the

outcome of the Festival Sale, with final results in line with expectations

heading into the week.

"The Festival Sale has fared very well over the past two days, rounding off

sales week on a positive note," Vela said. "There was still good momentum in the

ring all day yesterday and today, and many vendors will be relieved that the

market held up as well as it did. From the outset, we thought that results in

the range of our 2007 figures would be an acceptable result, and we have managed

to do that at this session. The 81 percent clearance rate is one of the most

pleasing results, and it's a credit to our Festival sale vendors who recognized

the importance of meeting the market in order to get the most from the sale."

For complete results, visit www.nzb.co.nz.