Cover image courtesy of New Zealand Bloodstock
At A Glance
At the close of trade on the final day of Book 1, the aggregate finished at NZ$75,322,500 down from 2024’s gross of NZ$79,585,000, but up from the 2023 figure of NZ$70,063,000. In 2025, 457 lots were sold, which is slightly less than the 473 who changed hands in 2024.
The average for the sale in 2025 was NZ$164,819 which is comparable to 2024’s figure of NZ$168,257, and a good rise on the 2023 average of NZ$151,980.
The median figure dropped again from last year to NZ$110,000, down from NZ$120,000 in 2024 and NZ$130,000 in 2023, however, it is up on 2022’s median which came in at NZ$100,000.
New Zealand Bloodstock reported a clearance rate of 78 per cent, which is the same as in 2024 and not dissimilar to 2023 (79 per cent) and 2022 (77 per cent).
The top-seller on Day 3 was Lot 564, a full sister to Prowess (NZ) (Proisir) offered by Hallmark Stud, who was knocked down to Roger James and Robert Wellwood for $1.1 million. Last year, Hallmark Stud sold her full sister for NZ$1.6 million to Moody Racing.
The Book 1 sale-topper came on day 2 and was Lot 345, a Savabeel filly from Symphonic (NZ) (O’Reilly {NZ}) who is the full sister to dual Group 1 winner Orchestral (NZ). Offered by Haunui Farm, she was secured by Mulcaster Bloodstock and Chris Waller for NZ$2.4 million.
Haunui Farm finished the sale as the leading vendor by aggregate, for the first time. They sold 24 yearlings, netting NZ$6.7 million in receipts.
Curraghmore finished the sale as the leading vendor by average (three or more), having sold 18 yearlings for an average of NZ$322,222. They were also the vendor with the highest clearance rate (3 or more sold) at 86 per cent.
Champion Sire Savabeel was the leading sire by aggregate. He had 35 yearlings make a collective NZ$10,050,000 at an average of NZ$287,000. He was knocked off the leading sire by average by Wootton Bassett (GB) whose nine yearlings sold for an average of NZ$361,000.
St Mark’s Basilica is the leading first-season sire by average (three or more). His seven yearlings sold at an average price of NZ$235,000. Sword Of State claimed the freshman honours in terms of aggregate; his 20 yearlings grossed NZ$4 million at an average of NZ$201,000.
For the 20th consecutive year, David Ellis was the leading buyer. The Te Akau boss signed for 26 yearlings, spending NZ$4.5 million at an average of NZ$173,000.
#1 Sale metrics lift to 2024 levels
The Book 1 session at Karaka wrapped up with an aggregate of NZ$75,322,500, slightly down from 2024’s NZ$79,585,000 but well ahead of 2023’s NZ$70,063,000. Despite a smaller offering of 588 yearlings compared to 618 last year, with New Zealand Bloodstock believing it showcased remarkable resilience and strong demand in a challenging economy.
Managing Director Andrew Seabrook reflected on the results with optimism:
“We said if we could get close to the incredible result of 2024, we’d be thrilled, and we are down just 5% for now, so we could not be happier.
“We said if we could get close to the incredible result of 2024, we’d be thrilled, and we are down just 5% for now, so we could not be happier.” - Andrew Seabrook
“We’ve been talking about how strong the international buying bench was here this week, but our domestic bench was outstanding. Given the state of the economy, we’ve just proven how resilient this industry is.”
The clearance rate matched last year at 78%, with trainer Roger James highlighting the challenges faced by buyers navigating the demand:
“We have found it tough, which is probably a reflection of the New Zealand prize money. We were trying to buy three to syndicate and normally we look at $200-$250,000, and the first four that we went in after, we didn’t even get a bid in.
Andrew Seabrook | Image courtesy of New Zealand Bloodstock
We didn’t think we were unrealistic about prices, but we have been this year, and I think it’s a reflection of our increased stakes.”
#2 Fillies lead the colts
The market’s hunger for quality fillies was on full display at Karaka Book 1, where fillies dominated the leaderboard, claiming the top three spots and six of the top ten lots. Their average price of NZ$170,000 outperformed the colts’ NZ$159,000, continuing the trend seen earlier this year at Magic Millions, where fillies also led the market.
The star of the sale was a full-sister to Orchestral (NZ) (Savabeel), who fetched an extraordinary NZ$2.4 million on Monday. Purchased by Mulcaster Bloodstock and Chris Waller, she became the highest-priced yearling sold at Karaka in 25 years and the overall sale-topper.
Tuesday’s session brought more fireworks when a full-sister to Prowess (Proisir), offered by Hallmark Stud, sold for NZ$1.1 million to Roger James and Robert Wellwood. For Hallmark’s Mark Baker, it was a moment of déjà vu, having sold another full-sister to Prowess for NZ$1.6 million just a year earlier.
Gallery: Lot 564 - Proisir x Donna Marie (NZ) (filly), images courtesy of New Zealand Bloodstock
“It’s a dream result,” Baker shared. “To repeat these results two years in a row, that is surreal. It hasn’t sunk in yet. It’s great for the family, her (Donna Marie’s) family, but our family. We are a small family-run stud farm.”
Later that day, Dean Hawthorne secured another standout, purchasing a Proisir filly from Golden Hind (NZ) (Tavistock) for NZ$850,000 on behalf of GSA Bloodstock.
John Foote also made headlines with his purchase of a Satono Aladdin (Jpn) filly out of Dancing Hare (Fastnet Rock) for NZ$300,000, highlighting the strong competition for well-bred fillies.
“She’s just a nice filly with a good pedigree, so we were happy to buy her for that money,” Foote said.
“It can be hard to buy here with the well-bred fillies. She’s got some residual value, she’s out of a very good family—her family in England is a very, very good family. The people I bought her for own the half-sister to Ceolwulf, so they have two branches of the family now, which is very good.”
Lot 637 - Proisir x Golden Hind (NZ) | Image courtesy of New Zealand Bloodstock
#3 Proven stallions dominate
In a market that values proven performance, Karaka Book 1 showcased a clear preference for tried-and-true sires. Unlike Magic Millions, where first-season sire Home Affairs claimed the top sale, all ten of Karaka's highest-priced yearlings were by proven stallions.
Leading the charge was Proisir, cementing his reputation with an exceptional sale. The star New Zealand sire was responsible for two of the top three lots, both sold on Day 3, as well as the fifth and 10th highest-priced lots, making him the most represented sire in the top 10. With four of the sale’s best performers, Proisir proved to be a buyer favourite, delivering consistent results at the top end of the market.
Proisir | Standing at Rich Hill Stud
European shuttle sires also made their presence felt, with Wootton Bassett (GB) and Too Darn Hot (GB) outshining any stallion that stands in Australia with an (Aus) suffix. Wootton Bassett secured three spots in the top 10, while Too Darn Hot claimed one, further cementing Karaka buyers' affinity for these European influences.
Wootton Bassett's sons also proved popular with Almanzor (Fr) adding to the family’s success, ranking as the third overall sire on aggregate with NZ$4,455,000 in total sales and an average of NZ$178,200.
Another Wootton Bassett son, first-season sire Wooded (Ire), who stands at Swettenham Stud, made a notable debut with his only yearling on offer selling for $200,000 to the TAB Racing Club. Out of Energy Within (Toronado {Ire}), and bred by Adam Sangster, the colt represented a successful pinhook for Woburn Farm, who had purchased him for $60,000 at the Inglis Great Southern Sale.
Wootton Bassett | Standing at Coolmore Australia
Meanwhile, New Zealand stalwart Savabeel held his ground with two of the top 10 lots, continuing to prove his enduring appeal.
#4 A new name as top vendor, while DC hits 20 years as top buyer
For the 20th year in a row, Te Akau Racing’s David Ellis claimed the title of leading buyer at Karaka Book 1. Over the past three days, Ellis secured 26 yearlings for a total spend of NZ$4,497,500, further cementing his dominance in the sales ring.
When combined with his purchases at the earlier Magic Millions Sale, Ellis has spent a staggering NZ$10,457,801 on 47 yearlings this year—a figure that sets an extraordinary benchmark by any global standard.
Reflecting on his success, Ellis expressed gratitude for the unwavering support he receives: “We’re always very grateful for the support we get from such a large group of people here at the sales. It makes us even more determined to buy more horses.”
David Ellis | Image courtesy of New Zealand Bloodstock
Meanwhile, it was also a milestone achievement for Haunui Farm, with the popular Karaka nursery taking out top vendor honours selling 25 yearlings for $6,740,000.
“We're just privileged enough to be offering some really nice horses for a bunch of clients who have supported us through the last few years,” said Mark Chitty, managing director of Haunui Farm. “The horses are a team effort - not only the people who work with them, but everyone on the farm. It takes a village. People have made key decisions along the way, but it's just been a real team effort from all of my staff.”
On their record-breaking NZ$2.4 million filly, Chitty said, “I thought she had the potential to be a seven-figure filly, but that was quite in excess of what we thought. She just kept improving and handling the pressure of yearling parades, and Orchestral running on Saturday night and returning to form certainly helped. It was the perfect storm.
Mark Chitty | Image courtesy of New Zealand Bloodstock
“I've done a number of yearling sales over the years, and currency helps. We’re in a very fashionable industry, and that fashion can change within months. Anything that can happen in and around the sales gives people the confidence to participate.”
#5 International markets are important
Australian based buyers were responsible for 45 per cent of the sale aggregate at NZ$35 million, with local buyers next in spending NZ$29.6 million. But it is the average purchase price that holds an interesting story.
Malaysia was the leading location for buyers with five yearlings bought at an average of NZ$304,000. Buyers from Hong Kong purchased 27 yearlings at an average of NZ$280,000.
South Africa, who has been absent for several years due to quarantine issues around African Horse Sickness, and their tricky exchange rate, have returned via one buyer, Betting Entertainment Technologies International Limited.
Agent Craig Ramsay spoke to Loveracing.nz about the five yearlings purchased who will head to South Africa. “They’ve been bought for an emerging international owner based in South Africa who’s making his first move into New Zealand,” Ramsay said.
“They’ve (yearlings) been bought for an emerging international owner based in South Africa who’s making his first move into New Zealand,” - Craig Ramsay
“I used to train and breed horses in South Africa myself, and I’ve been friends with this owner for more than 30 years now. We came here hoping to buy six horses for him this week – three colts and three fillies.”
They picked up two Savabeel colts, two Tivaci fillies and one Almanzor colt, spending a total of NZ$885,000 and averaging NZ$177,000.
“The plan is to get the horses to South Africa, but the issue is with transport,” Ramsay said. “We’ve tried three different freight companies and haven’t yet been able to come up with any certainty. So that’s something that needs to be worked out.
“In the meantime, I might encourage the owner to leave these horses in New Zealand and have a crack here. Everything is on such a positive note with the racing in this country at the moment. My client races horses in America, the UK and Ireland but not yet in the southern hemisphere apart from South Africa, so this might be an opportunity for him to race somewhere new.”
“In the meantime, I might encourage the owner to leave these horses in New Zealand and have a crack here. Everything is on such a positive note with the racing in this country at the moment.” - Craig Ramsey
Final word
All eyes now turn to Book 2, which kicks off on Wednesday at 12pm (NZT) at Karaka with the sale of Lots 662 to 860.
Book 2 has been a proven source of Group 1 success stories, producing stars like Queensland Derby winner Warmonger (NZ) (War Decree), New Zealand 1000 Guineas heroine Legarto (NZ) (Proisir), and the versatile Sharp ‘N’ Smart (NZ) (Redwood).
Adding intrigue to this year’s Book 2 session is Westbury Stud’s bold announcement: their draft of 37 yearlings will be sold unreserved.
“Yeah, look, when I came here, I felt that our Book 2 draft was probably our stronger of the two drafts physically,” Westbury’s Russell Warwick explained. “And the boss (Gerry Harvey) came in this morning and said, ‘What about we sell our Book 2 horses unreserved?’”
True to form, Gerry Harvey didn’t mince words: “I’ve got 37 horses in there, and they’re unreserved. If you think it’s worth $70,000 and it goes for seven, you get it. Okay?”
Day 3 top lots
564 | Proisir | Donna Marie (NZ) | Filly | Hallmark Stud | Mr RA James / Mr R Wellwood | Waikato | $ 1,100,000 |
637 | Proisir | Golden Hind (NZ) | Filly | Curraghmore | Dean Hawthorne Bloodstock | Waikato | $ 850,000 |
628 | Sword of State | Fuld's Bet | Colt | Cambridge Stud | Mulberry Racing | New South Wales | $ 540,000 |
579 | Savabeel | Embedded | Filly | Kilgravin Lodge | Busuttin Young Racing / Cameron Cooke Bloodstock | Victoria | $ 450,000 |
638 | Dundeel (NZ) | Grace Augusta | Colt | Curraghmore | Stephen Marsh Racing / Dylan Johnson Bloodstock | Waikato | $ 450,000 |
Buyers by aggregate
Mr DC Ellis CNZM (BAFNZ) | 26 | $ 4,497,500 | $ 172,981 |
Mulcaster Bloodstock Ltd / Chris Waller Racing | 11 | $ 4,330,000 | $ 393,636 |
KPW Bloodstock | 14 | $ 2,410,000 | $ 172,143 |
The Hong Kong Jockey Club | 6 | $ 2,370,000 | $ 395,000 |
Mr RA James / Mr R Wellwood | 7 | $ 2,220,000 | $ 317,143 |
Wexford Stables | 13 | $ 2,175,000 | $ 167,308 |
Go Racing / Blandford Bloodstock | 10 | $ 1,855,000 | $ 185,500 |
Stephen Marsh Racing / Dylan Johnson Bloodstock | 10 | $ 1,850,000 | $ 185,000 |
Tartan Meadow Bloodstock | 4 | $ 1,685,000 | $ 421,250 |
Mick Price Racing & Breeding | 9 | $ 1,650,000 | $ 183,333 |
Buyers by average (2 or more bought)
Tartan Meadow Bloodstock | 4 | $ 1,685,000 | $ 421,250 |
The Hong Kong Jockey Club | 6 | $ 2,370,000 | $ 395,000 |
Mulcaster Bloodstock Ltd / Chris Waller Racing | 11 | $ 4,330,000 | $ 393,636 |
Mulberry Racing | 4 | $ 1,470,000 | $ 367,500 |
Waikato Bloodstock | 2 | $ 675,000 | $ 337,500 |
Forsman Racing / Andrew Williams Bloodstock | 2 | $ 660,000 | $ 330,000 |
Mr RA James / Mr R Wellwood | 7 | $ 2,220,000 | $ 317,143 |
Patella Bloodstock | 5 | $ 1,520,000 | $ 304,000 |
Star Thoroughbred / Randwick Bloodstock Agency (FBAA) | 3 | $ 840,000 | $ 280,000 |
Brendon McCullum & Richardson Racing | 3 | $ 800,000 | $ 266,667 |
Buyers location by aggregate
Australia | 195 | $ 34,285,000 | $ 175,820.51 |
NZ | 211 | $ 29,952,500 | $ 141,954.98 |
Hong Kong | 27 | $ 7,560,000 | $ 280,000.00 |
Malaysia | 5 | $ 1,520,000 | $ 304,000.00 |
South Africa | 5 | $ 885,000 | $ 177,000.00 |
Singapore | 4 | $ 505,000 | $ 126,250.00 |
China | 3 | $ 180,000 | $ 60,000.00 |
UK | 2 | $ 170,000 | $ 85,000.00 |
Thailand | 2 | $ 105,000 | $ 52,500.00 |
Ireland | 1 | $ 90,000 | $ 90,000.00 |
USA | 1 | $ 50,000 | $ 50,000.00 |
Japan | 1 | $ 30,000 | $ 30,000.00 |
Buyers location by average
Malaysia | 5 | $ 1,520,000 | $ 304,000.00 |
Hong Kong | 27 | $ 7,560,000 | $ 280,000.00 |
South Africa | 5 | $ 885,000 | $ 177,000.00 |
Australia | 195 | $ 34,285,000 | $ 175,820.51 |
NZ | 211 | $ 29,952,500 | $ 141,954.98 |
Singapore | 4 | $ 505,000 | $ 126,250.00 |
Ireland | 1 | $ 90,000 | $ 90,000.00 |
UK | 2 | $ 170,000 | $ 85,000.00 |
China | 3 | $ 180,000 | $ 60,000.00 |
Thailand | 2 | $ 105,000 | $ 52,500.00 |
USA | 1 | $ 50,000 | $ 50,000.00 |
Japan | 1 | $ 30,000 | $ 30,000.00 |
Vendors by aggregate
Haunui Farm | 33 | 24 | $ 6,740,000 | $ 280,833 |
Waikato Stud Ltd | 57 | 45 | $ 5,880,000 | $ 130,667 |
Curraghmore | 21 | 18 | $ 5,800,000 | $ 322,222 |
Cambridge Stud | 45 | 32 | $ 4,425,000 | $ 138,281 |
Elsdon Park | 30 | 24 | $ 3,860,000 | $ 160,833 |
Landsdowne Park Ltd | 31 | 26 | $ 3,685,000 | $ 141,731 |
Windsor Park Stud | 35 | 24 | $ 3,425,000 | $ 142,708 |
Wentwood Grange | 31 | 23 | $ 3,420,000 | $ 148,696 |
Trelawney Stud Ltd | 17 | 13 | $ 3,405,000 | $ 261,923 |
Hallmark Stud | 21 | 15 | $ 3,390,000 | $ 226,000 |
Vendors by average (2 or more sold)
Curraghmore | 21 | 18 | $ 5,800,000 | $ 322,222 |
Haunui Farm | 33 | 24 | $ 6,740,000 | $ 280,833 |
Trelawney Stud Ltd | 17 | 13 | $ 3,405,000 | $ 261,923 |
Leanach Lodge Ltd | 3 | 2 | $ 500,000 | $ 250,000 |
Hallmark Stud | 21 | 15 | $ 3,390,000 | $ 226,000 |
Milan Park | 6 | 5 | $ 1,010,000 | $ 202,000 |
Highline Thoroughbreds | 12 | 7 | $ 1,350,000 | $ 192,857 |
Kilgravin Lodge | 13 | 7 | $ 1,290,000 | $ 184,286 |
Blandford Lodge | 11 | 7 | $ 1,285,000 | $ 183,571 |
Grangewilliam Stud | 4 | 2 | $ 365,000 | $ 182,500 |
Sires by aggregate
Proisir | 13 | 12 | $ 3,150,000 | $ 262,500 |
Savabeel | 16 | 12 | $ 2,595,000 | $ 216,250 |
Satono Aladdin | 11 | 10 | $ 1,475,000 | $ 147,500 |
St Mark's Basilica | 6 | 4 | $ 1,070,000 | $ 267,500 |
Sword of State | 4 | 3 | $ 920,000 | $ 306,667 |
Per Incanto | 7 | 5 | $ 740,000 | $ 148,000 |
Almanzor | 11 | 7 | $ 705,000 | $ 100,714 |
Dundeel | 2 | 2 | $ 630,000 | $ 315,000 |
Super Seth | 8 | 5 | $ 565,000 | $ 113,000 |
Ocean Park | 6 | 5 | $ 505,000 | $ 101,000 |
Sires by average (2 or more sold)
Dundeel | 2 | 2 | $ 630,000 | $ 315,000 |
Sword of State | 4 | 3 | $ 920,000 | $ 306,667 |
St Mark's Basilica | 6 | 4 | $ 1,070,000 | $ 267,500 |
Proisir | 13 | 12 | $ 3,150,000 | $ 262,500 |
Savabeel | 16 | 12 | $ 2,595,000 | $ 216,250 |
So You Think | 2 | 2 | $ 360,000 | $ 180,000 |
Home Affairs | 3 | 1 | $ 180,000 | $ 180,000 |
Per Incanto | 7 | 5 | $ 740,000 | $ 148,000 |
Satono Aladdin | 11 | 10 | $ 1,475,000 | $ 147,500 |
Ardrossan | 3 | 2 | $ 230,000 | $ 115,000 |