Weak dollar and big Group 1 success a strong advertisement for NZB’s Ready to Run Sale

New Zealand Bloodstock won’t be looking for excuses ahead of its Ready to Run Sale, with heightened interest and a favourable currency exchange pointing to a booming two-year-old auction at Karaka.

More than 360 juveniles will be offered at this week’s two-day auction with Ceowulf’s Champions Mile victory at Flemington on Saturday, his second Group 1 win in succession for Sydney trainer Joe Pride, a pertinent reminder of the potency of the NZB sale.

NZB managing director Andrew Seabrook told The Straight that the exchange rate between the Australian dollar and the New Zealand dollar, made this sale even more compelling for overseas investors.

“The New Zealand dollar against the Aussie is the lowest in 12 years, so the New Zealand dollar is very weak,” Seabrook said.

“The New Zealand dollar is 86 Australian cents. That’s the lowest it’s been in 12 years, so it makes our horses better value than ever. 

‘Against the US dollar, we’re 56 cents, so it’s great for our export sales, having such a weak dollar, because a lot of the overseas buyers just look at that bid board. They don’t look at the New Zealand currency, they look at their respective currency. 

“That’s going to help, for sure.”

The vast majority of Hong Kong trainers have made the long trip to Auckland, with the cohort accompanied by a number of Asian owners who are set to underpin the middle to top-end of the market on Wednesday and Thursday.

Indications also suggest that domestic participation could also be on the rise, a positive sign for the New Zealand industry, while Australian-based trainers are either at Karaka or represented, including Chris Waller, Pride, Ciaron Maher and Mick Price as well as former leading Singapore trainer Tim Fitzsimmons.

“It became evident a few weeks ago with the hotel bookings coming in that we were going to have a record number of international buyers here. So, if the sale isn’t a success, it won’t be because of lack of the numbers here on the ground,” Seabrook said.

“Our hotel bookings are probably up 20 per cent and that’s, I mean, there’s a lot of, obviously, Hong Kong and Malaysians here, like there were last year. 

“But the thing that’s great to see this year is the mainland Chinese, there’s a group of at least 20 mainland Chinese here.

“That’ll certainly help the lower to middle market.”

Anthony Cummings, the former trainer, long renowned as a good judge of young horses, whose trainer’s licence was rescinded by Racing NSW earlier this year, has turned his hand to bloodstock adviser.

The Group 1-winning trainer, whose Leilani Lodge stables at Randwick will soon be occupied by Maher, was by the side of his son, the soon-to-be Hong Kong-based James Cummings.

“The last time Anthony was here, he bought Beauty Generation, one of the great Hong Kong horses,” said Seabrook, who took the trainer’s bids via the phone at the 2014 Karaka Yearling Sale. 

Cummings Jr bought one two-year-old at last month’s Inglis Ready2Race Sale, but he is expected to up the ante at Karaka while Australian syndicator Nathan Bennett has also ventured across the Tasman.

A first-time visitor to Karaka, the Bennett Racing principal is set to enter the two-year-old market on a high, having enjoyed a cup week double at Flemington via Derby day winner Warnie and Maribyrnong Plate-winning two-year-old Tornado Valley.

“The Australian (buyer) numbers are up, but it’s hardly a surprise, really, given the continued success out of the sale, particularly in the last 12 months with 10 Group 1 wins and proper Group 1 horses like Mr Brightside, Ceowulf and Antino, the list goes on,” Seabrook said. 

The sale starts at 10am NZ time on Wednesday.