Break-even Hong Kong Sale

Encosta De Lago topped the Hong Kong International Sale with a HK$5 million gelding from Danzero mare Sharp.  He had originally cost $360,000 at the 2011 Gold Coast Magic Millions.

A total of 17 lots were sold on Saturday at Sha Tin with turnover reaching HK$43.70 million.  “It was a break-even sale, which is a good thing – we’re not in this to make money on the sale,” HKJC Director William Nader said.  “Our owners set the market and the fact that it was a buyers’ market is fine with us.”

The Sale average was HK$2.57 million while the median was HK$2.3 million.  Prices were not as inflated as has been the case in recent editions and that pleased Nader.

“We have another Hong Kong International Sale in March and that might have contributed to the fact that these prices were a little more reasonable.  We will weigh it all up and have a big picture view of how the two sales work within one season.

“I think having two sales will be a positive step because it will give our owners more opportunities to find the horse they want to purchase and also keep the prices a little more realistic.”

Second on the leader-board was a Dutch Art – Ring Of Love (Magic Ring) gelding that made HK$1.66 million.  He cost 85,000 euros at the 2011 Goffs Orby Yearling Sale.

A NZ bred gelding by Exceed and Excel out of Hurricane Mist (Spinning World) was next best at HK1.60 million.  He was a $140,000 buy at the 2012 NZ Bloodstock Karaka Premier Yearling Sale.

Currency converter:  HK 1,000 = AUD 123

This gelding topped the Hong Kong International Sale at HK$5 million