3 minute read

Seabrook notes the unknown but also the current confidence in the New Zealand industry.

Book 1 of Karaka 2021 gets underway on Sunday and the sale will be conducted in a very unique way this year with no international buyers able to physically attend. 

Despite the difficulties that this brings, New Zealand Bloodstock managing director is confident that they have done everything possible to engage with their international buying bench.  

"We've been selling here since 1927 with Phar Lap sold here in 1928 and not once, even through World War II and the likes, has there been a time when the internationals have not been able to get here so it's the big unknown," Seabrook told Racing & Sports Bloodstock. 

"Saying that, we think we've done everything we can to engage with the internationals. Are they all going to buy? No they won't, but we are confident that enough of them will be active but we just don't know to what level." 

Last year's New Zealand Bloodstock Ready To Run Sale was conducted in the absence of international buyers and 30 per cent of the horses sold at that sale were bought online. 

"If there was a sale that was ever going to work remotely it was the Ready To Run Sale," continued Seabrook. "A lot of people had seen them as yearlings and the breeze up is the most important component of that sale although, it does give us confidence that that sale was such a success. 

"More than 30 per cent of the horses were bought online and the online bidding platform worked really well and showed us that people are willing to use it." 

One positive to come out of the Covid-19 pandemic is an increase in information available to buyers on each individual lot. 

"Covid-19 has bought forward everyone's willingness to use the technology that is available to them. Not just the online bidding platform, but with all the information that the vendors providing it has just become so transparent," he said.  

"Some of the studs are even declaring what their reserves are going to be, so all the information that the buyers have now got is amazing; heights, weights and all sorts of different reports, so that's good. But, it's still the big unknown."  

Seabrook said that the relationships that New Zealand Bloodstock and their vendors have built up with international buyers over the years will be pivotal to the success of the sale. 

"It's been vital the relationships that we've built up over the years, between New Zealand Bloodstock, the vendors and breeders, with overseas people," he said. 

"Those relationships have just become all that more important. But I think it's going to be the way of the future. More and more online bidding and people operating from outside New Zealand. I think that if there is any country in the bloodstock world that is at an advantage it's New Zealand. We are such a remote country, it's a long way to come and I think possibly further down the track New Zealand might be in a better position thanwe were." 

With international spend likely to be down, Seabrook noted the buoyancy of the New Zealand economy and the fact that there is increased confidence in the industry which will hopefully lead to domestic buyers stepping up. 

"I don't think we should forget about the New Zealanders either," he said. "There is a bit of confidence within the New Zealand industry. The New Zealand economy has kicked back really well after Covid and our economy is arguably one of the strongest in the world given that we don't have Covid. 

"There is a bit of confidence in the industry. There is light at the end of the tunnel, there are some good things happening. Our betting turnover is huge and it all gives me a bit of confidence that the Kiwi spend will be up on last year and it's a good excuse for the Kiwis to get involved. 

"It's all a bit of an unknown, but I think we've done everything we can and I'm looking forward to the start now."