New Zealand Bloodstock Kiwi slot race auction exceeds expectations

Champion galloper Seachange wearing the rug representing the No.1 slot at the auction at Karaka. Photo / Supplied

New Zealand’s first thoroughbred slot race is a success a full year before its first ever running.

That was the only conclusion to be drawn from the auction of nine slots in the $3.5 million NZB Kiwi, which will be held for the first time at Ellerslie on March 8 next year.

The race will comprise 14 slots, five retained by NZTR and our major racing clubs and regions, with nine up going under the hammer at the Karaka sales complex on Tuesday night.

Any horse bred in New Zealand or sold at a New Zealand Bloodstock auction will be eligible to start in the 1500m race for three-year-olds.

The nine slots, which enable people to start their own horse or negotiate with the connections of other horses, were always going to be highly sought-after but nobody could have seen last night’s inflated prices eventuating.

The minimum price to own a slot for three years was set at $450,000 and it was quickly apparent that wasn’t going to be anywhere near enough when Singapore-based owner John Chew paid $725,000 for the first of the nine slots sold.

That was to be the top price but four more slots sold for $700,000 and another four for $675,000 for a total return of $6,225,000.

That means the average price per slot sold last night was $691,666, an incredible $241,666 more than the minimum expected.

“It is an extraordinary result and shows the confidence in the industry,” said NZTR chief executive Bruce Sharrock.

“Those numbers are beyond anybody’s expectations so we are thrilled.”

Sharrock said rather than putting the extra money straight into the stake for the NZB Kiwi, NZTR will look at other options.

“Firstly we want to market this race properly both here and in Australia so we can have a very special event as part of the new Champions Day.

“But we will look at all our options. One of those could be bonuses to reward slot holders and the horse they use for their slot along the way to the NZB Kiwi.

“We may have lead-up races where any horse already signed to a slot is eligible for a bonus. That could promote not only the NZB Kiwi but the horses being aimed at it, the slot holders and the lead-up races.

“But we have no firm decisions on that. This has only just happened so we will work through what to do next but it is crucial we market this as a major event.”

To add theatre and equine magic each slot auctioned was represented by a former champion, horses like Seachange and Gingernuts, who entered the ring wearing a dress rug with the slot number being auctioned.

Chew and Australian-based Ozzie Kheir were the only overseas buyers but huge New Zealand industry players Cambridge Stud ($700,000) and Te Akau Racing ($675,000) purchased slots.

“We will be using ours for a Te Akau-trained horse for sure,” said their boss David Ellis.

Popular owner-breeder Daniel Nahkle paid $675,000 for his slot while Entain paid $700,000 for theirs, as well as already financially supporting the race.

Three local stables bought slots with Wexford Stables (Lance O’Sullivan/Andrew Scott) paying $700,000, Andrew Forsman $675,000, the same price as one of the surprise purchasers of the evening in Clotworthy Racing, run by Shaun and Emma Clotworthy, in association with Kerri Spence Bloodstock.

Those trainers of course have the option to bring stable clients or owners into the slot as shareholders and can either aim one of their own horses at the NZB Kiwi or negotiate with the connections of other eligible horses.

Now another race begins, the one to find the right 14 horses to race for the first NZB Kiwi title.

If last night was anything to go by, New Zealand thoroughbred racing is entered a fascinating new era.

Michael Guerin wrote his first nationally published racing articles while still in school and started writing about horse racing and the gambling industry for the Herald as a 20-year-old in 1990. He became the Herald’s Racing Editor in 1995 and covers the world’s biggest horse racing carnivals.