Racing: $500 mare produces $250k star

Ian Thompson says the stud knew when the colt was born that he was going to be a nice horse and would be worth selling. Photo / Sarah Ivey

A bay colt from Cambridge, bred from a mare bought for $500 on Trade Me, is expected to fetch hundreds of thousands of dollars at the week-long Karaka sale.

Lot 317 is the offspring of an award-winning sire called High Chaparral from Ireland, whose service fee was $12,000, and Flowing, a New Zealand mare.

The colt is one of 1622 young horses up for auction at the annual event hosted by New Zealand Bloodstock.

Ian Thompson, the manager of Mapperley Farm at Windsor Park Stud where lot 317 has been raised, said his owner, a Christchurch farmer, bought the mare in the hope she would be a good match for the stud, whose other offspring have gone on to win racing trophies around the world.

Mr Thompson said the "lucky" horse should fetch upwards of $250,000 in tomorrow's auction.

"He's a bit of a fairytale really. We knew pretty much from when he was born he was going to be a nice horse and he would be worth selling."

New Zealand Bloodstock co-managing director Petrea Vela said buyers from around the world had booked out 330 hotel rooms for the annual event at the New Zealand Bloodstock headquarters in Karaka.

She said it was too early to tell how well this year's bidding would compare with last year's result of $93 million.

"So far it has been very competitive. The first horse went for $600,000, which is a great start."

She said vendors would be looking to capitalise on the winning reputation of New Zealand horses.

During the 2009-10 Australian racing season, 5.2 per cent of horses competing were New Zealand bred but they won 9.6 per cent or $55 million of the total prize money. She said exchange rates were also a factor in the international interest.

"It is presenting international buyers with the most favourable exchange rate in over a decade, which is bound to be a factor in purchasing decisions."

The young horses go through a rigorous make-up session before being paraded in front of prospective buyers. It took a team of four to get Lot 6, a bay colt from Waikato Stud, ready. All the preparation paid off when the yearling went for $330,000 at auction.

Groom Greta Smale said the grooming session was needed to ensure the horse looked his best under the bright lights of the auction room. She said the make-up was all about accentuating the natural features, rather than trying to hide any blemishes.