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Karaka Cumulative Average Down 1.9%

Wednesday, 1st February 2006

The fierce Day-2 competition resulted in a record average for the day of NZ$149,772 & cumulative 2-day average of NZ$131,925 (down 1.9% on last year's NZ$134,519 at the same 360-lot mark in the catalogue). Overall after 2 sessions, 266 lots have sold for NZ$35,122,000 (down 1.1% on last year's 264 sold for NZ$35,513,000 at the same point) & the NZ$85,000 cumulative median was down 5.5% (last year NZ$90,000). The cumulative clearance rate has climbed from 76% on Day-1 to 79% after Day-2 (83% last year). NZB marketing manager Petrea Vela summed up: "The sale really stepped up a gear throughout the afternoon. The last 3 hours of selling were as strong as we have ever seen it at Karaka, with results exceeding all our expectations. Not only was it very exciting to see the Stravinsky colt sell for NZ$2.2 million, but it is a huge boost to our industry to see 2 NZ buyers fighting it out at the end, with Japanese & Australian buyers also in the battle. Good quality horses are certainly in high demand, with buyers prepared to pay top dollar for lots that meet their scrutiny."

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