Cover image courtesy of Waikato Stud
In the final part of this series, we focus on stallions standing at stud in New Zealand. Upon analysing the nation's leading sires based on average yearling prices, while the nation’s leading sire in Savabeel follows the trend that high service fees correlate with higher yearling prices, a host of up-and-coming New Zealand based stallions account for much of the top end of yearling prices by average.
The profitability index was calculated for stallions with at least one crop of runners and at least 10 yearlings sold in the 2024 sales season. This index was determined by dividing the 2024 yearling average by the stallion's 2021 covering fee, which corresponds to when the offspring in question were conceived.
New Zealand sires produce strong returns
While the relationship between stud fee and average yearling sales price was stark in Australia, it is less prevalent in New Zealand. Of the top 10 Australian sires by yearling sale average, four of the top five stallions stood for triple figure sums. While only one stallion in Savabeel stands for NZ$100,000 or more, the average profitability index for the top 10 Australian sires by yearling average was 3.2, while for New Zealand it was 14. This suggests that the top stallions in New Zealand, despite potentially having lower individual fees and producing lower average yearling prices, are more profitable by relative average compared to their Australian counterparts.
| Savabeel | $100,000 | $277,938 |
| Proisir | $12,500 | $261,989 |
| Satono Aladdin (Jpn) | $12,500 | $174,144 |
| Per Incanto (USA) | $25,000 | $173,093 |
| Super Seth | $35,000 | $159,287 |
| Ardrossan | $3,000 | $155,629 |
| Ocean Park (NZ) | $30,000 | $117,581 |
| Almanzor (Fr) | $30,000 | $111,387 |
| Contributer (Ire) | $22,000 | $84,639 |
| Reliable Man (GB) | $17,500 | $81,140 |
Table: Top 10 New Zealand stallions by yearling sale average ($NZ)
Eight-time Champion New Zealand sire Savabeel, who stood the 2021 season at NZ$100,000 (plus GST), unsurprisingly led by average yearling price, with 51 yearlings sold across Australia and New Zealand at an average price of NZ$275,000. The reigning Champion sire of 145 stakes winners sired four individual Group 1 winners this season: Orchestral (NZ), I Wish I Win (NZ), Atishu (NZ), and Skew Wiff (NZ), all of whom achieved elite success.
Rich Hill Stud’s up-and-coming Proisir follows closely with yearlings averaging over NZ$260,000 this season, while fellow Rich Hill sire Satono Aladdin (Jpn) was the third sire for average yearling price having claimed just under NZ$175,000. Little Avondale Stud’s seven-time Group 1 producing sire Per Incanto (USA) continues to go from strength-to-strength. Commencing stud duties off a modest NZ$4,000 (plus GST), the sire of 29 stakes winners has seen a 315 per cent increase in his average yearling price from just over NZ$40,000 in 2014, to almost NZ$175,000 this year. Not only has he seen an increase in average price, demand for his elite stock has surged with his full-brother to Lost And Running (NZ) fetching a career high of AU$650,000 (NZ$708,500) at this year’s Inglis Easter Yearling Sale.
“Savabeel, who stood the 2021 season at NZ$100,000 (plus GST), unsurprisingly led by average yearling price, with 51 yearlings sold across Australia and New Zealand at an average price of NZ$275,000.”
Among the top 10 stallions by average yearling price, Waikato Stud’s current Leading New Zealand First-Season Sire Super Seth’s first runners have made a significant impact both locally and abroad. Listed Waikato Equine Veterinary Centre S. winner Super Photon (NZ) and G2 Wakefield Challenge S. runner-up Poetic Champion (NZ) are his best performed progeny domestically, while G2 TL Baillieu H. winner and G1 Champagn S. runner-up Linebacker (NZ) made an impression in Australia. Super Seth commenced stud duties with a fee of NZ$35,000 (plus GST). Following his promising start, Super Seth’s average yearling price from 2023 to 2024 rose by nearly 10 per cent, reaching almost NZ$160,000, with progeny selling for up to NZ$700,000.
Up-and-coming sires prevalent
While headline stallions like Savabeel are a safe investment for their ability to consistently produce top-quality yearlings, New Zealand is home to a collection of emerging stallions who have returned some serious returns on investment.
| Ardrossan | $3,000 | $155,629 | 52 |
| Proisir | $12,500 | $261,989 | 21 |
| Satono Aladdin (Jpn) | $12,500 | $174,144 | 14 |
| Redwood (GB) | $8,000 | $66,968 | 8 |
| El Roca | $8,000 | 66,678 | 8 |
| Sweynesse | $9,000 | $74,090 | 8 |
| Per Incanto (USA) | $25,000 | $173,093 | 7 |
| Ace High | $10,000 | $68,235 | 7 |
| Tarzino (NZ) | $12,000 | $69,000 | 6 |
| U S Navy Flag (USA) | $15,000 | $69,584 | 5 |
Table: Top 10 New Zealand Sires by profitability index ($NZ)
1. Ardrossan
2024 yearling average: NZ$155,629
2021 covering fee: NZ$3,000 (plus GST)
Profitability index: 52
From humble beginnings, Ardrossan has taken the racetrack and sales ring by storm. With just two crops of racing age, the Group 3 winning son of Redoute’s Choice is already the sire of four stakes winners, including this year’s Listed Phelan Ready S. winner Beau Dazzler (NZ). This success adds to his previous stakes winners: Saltcoats (NZ), Codigo (NZ), and Loch Katrine (NZ).
Ardrossan began his stud duties in 2019 with a fee of $8,000 (plus GST). By 2021, this fee was reduced to $3,000 (plus GST). Initially, only two yearlings from his first crop sold at public auction, but this number climbed to 11 in his second crop, averaging a healthy NZ$97,490. His first crop of runners started performing notably towards the latter part of their 2-year-old season, boosting his sales average for 2024 to over NZ$155,000 and yielding over 52 times their conceived fee.
Some yearlings sold for up to 130 times their conceived fee, with the most expensive from his 2024 cohort being a full sister to the stakes-placed Rezeki, who was a NZ$390,000 Karaka purchase by Ladbrokes Racing Club / Newgate. Given this upward trajectory, it seems inevitable that breeders will continue to capitalise on his success. Ardrossan's fee climbed to NZ$6,000 in 2022 and increased to NZ$10,000 (plus GST) last year, during which he covered his largest book of mares to date (160). He will stand the upcoming season at Waikato Stud for NZ$20,000 (plus GST).
2. Proisir
2024 yearling average: NZ$261,989
2021 covering fee: NZ$12,500 (plus GST)
Profitability index: 21
Rich Hill Stud’s Proisir achieved career-high yearling averages this season and in turn produced an impressive profitability index of 21. The five-time Group 1 producing stallion's yearlings averaged over NZ$260,000 this season, fetching 21 times his 2021 service fee of $12,500 (plus GST).
This year marked the seventh offering of his yearlings which fetched over double that of their average price last year (NZ$115,000). The son of Choisir was represented by 37 yearlings across the Australasian yearling sales season with the highlight being his first million dollar offering and the most expensive filly sold at auction in New Zealand, the full-sister to Proisir’s Group 1 winner Prowess (NZ) after Peter Moody parted with NZ$1.6 million at the Karaka Yearling Sale.
Proisir | Standing at Rich Hill Stud
Proisir, a proven sire of top-class racehorses such as Levente (NZ), Legarto (NZ), and Dark Destroyer (NZ), has sired eight stakes winners this season. Among them, Legarto secured her third Group 1 victory in the G1 Herbie Dyke S., while Waitak (NZ) triumphed in the G1 Railway S., and Cour Volante (NZ) won the G2 Thousand Guineas Prelude. Breeders who supported the Rich Hill-based sire in previous seasons, breeding him at NZ$17,500 (plus GST) in 2022, appear to have made a wise investment. Consequently, Proisir's stud fee has increased to a well-deserved NZ$80,000 (plus GST) for the 2024 season.
3. Satono Aladdin (Jpn)
2024 yearling average:NZ $174,144
2021 covering fee: NZ$12,500 (plus GST)
Profitability index: 14
The Rich Hill Stud stallion barn is full of talent with Group 1 winning son of Deep Impact (Jpn), Satono Aladdin (Jpn) making a serious impression in the Southern Hemisphere. This season, the Group 1 producing stallion has been represented by six stakes winners including G2 Hawke's Bay Guineas winner Lantern Way (NZ), G3 Eulogy S. winner Still Bangon (NZ) and G3 ATC Gloaming S. winner Raf Attack (NZ).
Satono Aladdin (Jpn) | Standing at Rich Hill Stud
The sire of dual Oaks winner Pennyweka (NZ), who was purchased by the Panthalassa Syndicate for $1.6 million at this year’s Inglis Chairman’s Sale, was represented by 25 yearlings across the sales season, fetching an average of just shy of NZ$175,000. A significant milestone was achieved when his most expensive yearling filly, a full-sister to G1 Australian Guineas place-getter Japanese Emperor (NZ) (Satono Aladdin), sold for NZ$900,000 to Chris Waller / Mulcaster Bloodstock. Similar to stablemate Proisir, Satono Aladdin has seen a sharp increase in his stud fee, which is now set at NZ$65,000 (plus GST) for the upcoming season. Breeders who invested at the unchanged NZ$12,500 (plus GST) in 2022 will no doubt be eagerly anticipating next year’s yearling sale season.
4. Redwood (GB)
2024 yearling average: NZ$66,968
2021 covering fee: NZ$8,000 (plus gst)
Profitability index: 8
Appetite for Westbury Stud’s Redwood (GB) was relatively strong at this year’s yearling sale circuit, with 11 yearlings averaging over NZ$65,000, earning him a profitability index of eight. Represented by five stakes performers this season, including G2 Victory S. winner Antino (NZ), Redwood boasts a stakes winners to runners strike rate of over four per cent. As the dual Group 1 producing sire of Sharp ‘N’ Smart (NZ) and Rock On Wood (NZ), Redwood has earned a small fee increase to NZ$10,000 (plus GST) this season, yet remains one of New Zealand’s best value sires by profitability index.
Redwood (GB) | Standing at Westbury Stud
5. El Roca
2024 yearling average: NZ$66,678
2021 covering fee:NZ$8,000 (plus gst)
Profitability index: 8
Fellow Group 1-producing Westbury Stud stallion El Roca continues to build a solid resume, having sired six stakes performers this season, including Listed Marton Cup winner Canheroc (NZ) and Renegade Rebel (NZ), who claimed the Listed Gingernuts Salver. They join the ranks of Group 1 winners Travelling Light (NZ) and Romancing The Moon (NZ). The son of Fastnet Rock saw his yearlings average over NZ$65,000 with a profitability index of eight, with progeny selling for up to NZ$190,000. The 2024 season was El Roca’s best based on yearling sale averages. While he has earned a fee increase to NZ$15,000 (plus GST) for the upcoming season, breeders can undoubtedly reap the rewards as his progeny continue to perform well on the track.
El Roca | Standing at Westbury Stud
6. Sweynesse
2024 yearling average: NZ$74,090
2021 covering fee: NZ$9,000
Profitability index: 8
Novara Park’s Sweynesse has sired 78 individual winners from 165 runners, amassing 202 victories. Among his notable offspring are seven stakes winners, including the renowned Champion Sprinter Lucky Sweynesse (NZ), who added the G1 Hong Kong Sprint to his resume, and Trust In You (NZ), who claimed maiden stakes success in the G3 Queen Elizabeth II Cup.
Sweynesse | Standing at Novara Park
Buyers have taken note of his success, with 10 yearlings sold for an average of just under NZ$75,000 at this year’s sales, earning him a profitability index of eight. A milestone was achieved with his highest-priced yearling, a colt from Champagne Katie (Darci Brahma {NZ}), fetching NZ$200,000 at this year’s New Zealand Bloodstock National Yearling Sale.
As is the case in Australia, investing in high-end stallions is costly, but the likelihood of the resultant yearling recouping the initial outlay is greater, and the appetite for buyers to spend considerably more is much larger. In New Zealand’s consolidated breeding market, opportunities for breeders to capitalise on emerging stallions are condensed but by relative terms, the market punches well above its weight.
