Cover image courtesy of New Zealand Bloodstock
On Sunday, the curtain rises on the 100th edition of the New Zealand Bloodstock National Yearling Sale at Karaka, with 1009 lots catalogued across three books in a new look to New Zealand’s premier yearling sale. A total of 567 of those yearlings will be offered in Book 1 across two days of selling, followed by Book 2 on Tuesday, and a day’s break from selling before the Karaka Summer Sale on Thursday.
It would be difficult to separate the modern Karaka sale from the buying patterns of Te Akau Racing principal David Ellis CNZM (BAFNZ). Not because of any single purchase or headline result, but because of the consistency with which Te Akau Racing has returned to this sale, year after year, and absorbed more stock than any other operation in the market.
Ellis has been the leading buyer at the New Zealand Bloodstock National Yearling Sale for 20 consecutive years, a statistic that, on its own, risks sounding ceremonial.
The more revealing detail is how that streak has been sustained. Ellis is not buying on behalf of a shifting client base, nor reacting opportunistically to market conditions. His purchases are underwritten by a large, repeat ownership pool that expects annual reinvestment, which allows him to operate at scale while spreading risk across a wide cohort of horses.
David Ellis | Image courtesy of New Zealand Bloodstock
The practical effect is that Ellis has become a stabilising force within the Karaka marketplace. His buying activity does not simply reflect confidence in the sale; it contributes to it. Over time, that has helped shape both the commercial rhythm of Karaka and the types of horses it consistently produces - durable, early-running stock capable of feeding programmes like the Karaka Millions, where Te Akau Racing’s record further reinforces the feedback loop between sale, syndication and racing outcomes.
The purchase of Kinnaird (NZ) (Home Affairs) at last year’s sale is just one more selection to pay off amongst well over 2000 winners for the operation, almost all of whom have been chosen by Ellis himself.
Karaka is also a sale where Ellis has procured several stallion prospects over time, successfully sending the likes of Cool Aza Beel (NZ), Noverre (NZ), Embellish (NZ), Xtravagant (NZ), Warhorse (NZ), and Burgundy (NZ) to stud from his Karaka purchases.
NZB ready for a centenary celebration
“We have been planning this for the last couple of years, and it’s amazing to have 100 continuous years of selling,” said New Zealand Bloodstock managing director Andrew Seabrook. “We've survived World War Two, we've survived COVID, and we survived the floods of three years ago that closed the airports. To get to this point is a great achievement.”
“We've survived World War Two, we've survived COVID, and we survived the floods of three years ago that closed the airports.” - Andrew Seabrook
With the Australian dollar currently trading at NZ$1.16, it is a prime time for Australian buyers to consider crossing the Tasman and availing themselves of the value on offer at Karaka.
New Zealand Bloodstock provides some enticing statistics on their website; last season, 21% of Australian Group 1 races were won by New Zealand-breds, and Karaka-sold horses who were Group 1 winners in Australia last season cost on average NZ$136,000 to purchase, with a top price of NZ$260,000.
Andrew Seabrook | Image courtesy of New Zealand Bloodstock
“The dollar certainly creates great value for money for Australian buyers,” said Seabrook. “And more importantly, the continued success of New Zealand horses in Australia is immense. There is a large Australian presence on the grounds this week, along with buyers from Hong Kong and China, and a great turnout of local buyers as well, which hopefully will translate to another successful sale.”
A market stabilising
After a three-year run of sub 80% clearance rates, the 2025 New Zealand Bloodstock National Yearling Sale saw the clearance rate bounce back to 80%, with 751 lots sold - the most to sell since a bumper catalogue was unleashed in 2020.
| Aggregate | $86,321,500 | $91,842,000 | $82,159,000 | $74,383,000 | $60,997,000 | $78,458,000 |
| Average | $114,942 | $122,783 | $110,726 | $106,109 | $92,276 | $91,443 |
| Catalogued | 1088 | 1125 | 1079 | 1103 | 918 | 1265 |
| Withdrawn | 146 | 141 | 121 | 156 | 127 | 143 |
| Passed In | 191 | 236 | 216 | 246 | 144 | 264 |
| Sold | 751 | 748 | 742 | 701 | 647 | 858 |
| Clearance rate | 80 | 76 | 77 | 75 | 82 | 76 |
Table: Key metrics across the most recent six editions of the New Zealand Bloodstock National Yearling Sale
While the average price dipped in 2025 after a rising trend in averages, it still featured two seven figure lots for the first time since 2018, with a top price of NZ$2.4 million for a daughter of Savabeel, offered by Haunui Farm and bought by Mulcaster Bloodstock and Chris Waller Racing. In that edition, 13 lots sold for NZ$500,000 or more, as opposed to 17 lots selling for over half a million in the 2024 edition of the sale.
The average for Book 1 in 2025 was NZ$164,819, when the New Zealand dollar was trading at 90 Australian cents.
The 2026 catalogue is the smallest offered since 2021, where 918 lots were catalogued, although the compressed catalogue that year produced the highest clearance rate from the last 6 editions of the sale, with 82% of yearlings that went through the ring being sold.
“It's a very diverse catalogue with over 100 stallions represented, but it's also smaller in size as we have made a conscious effort this year to concentrate on quality,” acknowledged Seabrook. “Book 1 has been reduced from three days of selling to two, then Book 2 is one day, followed by the Summer Sale.
“(The sale) is also smaller in size as we have made a conscious effort this year to concentrate on quality.” - Andrew Seabrook
“The Book 2 horses also arrived on site at the same time as the Book 1 horses this year. In the past, the transition from Book 1 to Book 2 hasn’t always been easy and some of the Book 2 horses have been missed during inspections. Having the horses on the grounds for inspection from day one has gone down well with our clients.”
Last year’s sale has already produced 17 winners, including Te Akau Racing's G2 Eclipse Stakes winner Kinnard and Lindsay Park Racing's Listed Debutant Stakes winner Torture (NZ) (Sword Of State), who ran third in the R. Listed Karaka Million 2YO on Saturday.
Waikato Stud present the biggest draft, with 77 yearlings catalogued, closely followed by Cambridge Stud with 73.
| Waikato Stud | 77 |
| Cambridge Stud | 73 |
| Windsor Park Stud | 49 |
| Wentworth Grange | 43 |
| Westbury Stud | 38 |
| Haunui Farm | 37 |
| Landsdowne Park | 37 |
| Rich Hill Stud | 36 |
| Elsdon Park | 34 |
| Curraghmore | 29 |
Table: Top 10 vendors by draft size at the 2026 New Zealand Bloodstock National Yearling Sale
Stallion power
Ellis also purchased leading first season sire Sword Of State as a yearling at the Magic Millions Gold Coast Yearling Sale and campaigned him to Champion 2YO status in New Zealand, before retiring the colt to Cambridge Stud. His first crop of yearlings were well received at Karaka and at Australian sales in 2025, and he has already produced winners on both sides of the Tasman. He has 25 of his second crop represented.
The exploits of Torture and dual metropolitan winner Warwoven in Australia had the stallion topping the Australian first season sires’ premiership for a time, a highlight not lost on Cambridge Stud’s Sales and Nominations Scott Calder.
“We are incredibly excited about what he has done so far,” said Calder. “He was a very good 2-year-old and he has been producing stock that look like they will be early, but to get straight off the mark with a stakes winner in Australia with his first runner and then for his second runner to be Warwoven, who looks like he is going to be very impressive, we couldn’t have asked for a better start.
Lot 513 - Sword Of State x Las Brisas (GB) | Image courtesy of New Zealand Bloodstock
Cambridge Stud is looking forward to offering Lot 513 by Sword Of State, being a half-brother to four-time Group 1 winner Ceolwulf (NZ) (Tavistock {NZ}).
“To go straight to the top of the first season sires’ premiership against some heavy-hitting Australian stallions, it’s a unique position for a New Zealand stallion to be in," Calder continued. "We couldn’t be happier with him, and I think he is a horse that not only attracts the New Zealand buyers, but the Australians as well.”
“I think he (Sword Of State) is a horse that not only attracts the New Zealand buyers, but the Australians as well.” - Scott Calder
Avantage (Fastnet Rock), Bellatrix Star (Star Witness), Probabeel (NZ) (Savabeel), Melody Belle (NZ) (Commands), and Velocious (NZ) (Written Tycoon) are just a handful of the other stars procured by Ellis at Karaka, and Te Akau Racing is always open for more people to join in on ownership in the yearlings he selects in 2026.
New blood meets old in diverse catalogue
Across all three books, 201 yearlings have been catalogued by 69 Australian-based or Australian shuttle stallions. A range of Australia’s most proven and sought after sires are on offer, including progeny by Snitzel, Zoustar, Too Darn Hot (GB), and Wootton Bassett (GB), as well as offspring of up and coming stallions like Bivouac, Farnan, and Ghaiyyath (Ire).
| So You Think | 13 |
| Anamoe | 10 |
| Home Affairs | 10 |
| Toronado | 8 |
| Bivouac | 8 |
| Justify | 7 |
| Too Darn Hot | 7 |
| Alabama Express | 6 |
| Maurice | 5 |
| State Of Rest | 5 |
Table: Top 10 most represented Australian sires in the 2026 New Zealand Bloodstock National Yearling Sale across all books
The late So You Think (NZ) - a graduate of Karaka himself - remains popular in his homeland, and has 13 offspring catalogued in Book 1. Early in the catalogue, Cambridge Stud will offer Lot 5 by the sire; the first foal out of G2 Chairman’s Handicap winner Nerve Not Verve (NZ) (Shocking).
Home Affairs also features prominently in the catalogue and will be popular locally thanks to the aforementioned Kinnaird, as well as thanks to his current position at the head of the first season sires’ premiership on both sides of the Tasman. From the draft of Kaha Nui Farm comes Lot 562, the first foal from G3 Dark Jewel Classic victress More Prophets (Divine Prophet).
Eight Australian first season sires will be on offer in the catalogue alongside New Zealand’s sole first season sire Profondo, who has 67 first crop yearlings catalogued, of which 37 are in Book 1. Anamoe leads the Australian first crop offerings, alongside State Of Rest (Ire), In The Congo, Artorius, Hitotsu, Sejardan, Best Of Bordeaux, and Jacquinot.
| Anamoe | 10 |
| State Of Rest | 5 |
| In The Congo | 4 |
| Jacquinot | 3 |
| Artorius | 2 |
| Best Of Bordeaux | 2 |
| Hitotsu | 1 |
| Sejardan | 1 |
Table: Australian first season sires represented in the 2026 New Zealand Bloodstock National Yearling Sale across all books
Anamoe’s first yearlings to reach the marketplace made an impact at the Magic Millions Gold Coast Yearling Sale, and there are 10 more opportunities to get a hold of the nine-time Group 1 winner’s progeny catalogued in the 2026 Karaka sale, all in Book 1 of the sale. Haunui Farm present one of the stallion's standout colts in Lot 556, out of a half-sister to Ellis's 14-time Group 1 winner Melody Belle.
Opportunities on both sides of the Tasman
Amongst 93 pinhooked weanlings in the catalogue, there are 45 that were sold through an Inglis sale as weanlings, and therefore are eligible for the Inglis Race Series as well as being eligible for the Karaka Millions races as graduates of the New Zealand Bloodstock National Yearling Sale. For a discerning buyer, there lies lucrative opportunities to race on either side of the Tasman - or even both.
All graduates of the sale are eligible for the Karaka Millions series worth NZ$3.5 million, with NZ$1 million being on offer in the R. Listed Karaka Million 2YO and NZ$1.5 million being the prize pool for the R. Listed Karaka Million 3YO Classic a year later. A further NZ$1 million is on offer in the NZB Mega Maiden Series, where 40 maiden races across New Zealand carry an additional NZ$25,000 in bonuses for a Karaka Millions eligible winner.
La Dorada | Image courtesy of Kenton Wright (Race Images)
Te Akau Racing have enjoyed immense success in the Karaka Millions series, winning seven consecutive editions between 2017 and 2023, and they were victorious again in 2025 with NZ$190,000 Karaka graduate La Dorada (NZ) (Super Seth), who went on to win the G1 Manawatu Sires’ Produce Stakes in the same preparation. She ran third in Saturday's Kakara Millions 3YO. On two occasions - in 2020 with Probabeel and in 2025 with Damask Rose (NZ) (Savabeel) - they have also won the 3YO Classic.
Probabeel was a NZ$380,000 Karaka Book 1 purchase for David Ellis, and also won the Karaka Million 2YO in her juvenile year, before adding four Group 1 wins to Te Akau Racing’s triple digit haul of top flight victories.
Probabeel | Image courtesy of The Image Is Everything
The Inglis Race Series offers $3.8 million in prizemoney across exclusive Inglis races for two and 3-year-olds, plus $5 million is split between 50 maidens across Australia in the Inglis Xtra Bonus Series. In addition, there is the $1 million Pink Bonus Series for Inglis graduates with majority female ownership.
Karaka graduates can also earn another entry point into the race series by being sold through the Inglis Ready2Race Sale in the spring.
