Traders' Paradise At The Select

When the third and final day of Karaka’s Select Yearling Sale finished on 1 February I wondered why so many people were smiling at me. It's not the normal reaction; I presumed it was because they were pleased that they’d be seeing the last of me.

But after dissecting the results of the Select Sale the reason for all the smilers became evident – they were Select Sale pinhookers who couldn’t hide their delight at their good fortune.

The strong middle market at the Select Sale rewarded pinhookers hand over fist.

In the post below this one, I look at the success or otherwise of pinhookers at the Premier Yearling Sale held earlier that week. The losers probably outnumbered the winners, though the victories were spectacular in many instances.

Using the same formula to calculate returns as described in the post below, here are the impressive Select Sale pinhooking results:

Sold at a clear profit: 42
Sold at a clear loss: 11
Sold at break-even: 4
Passed in: 10

The biggest profits by dollars (all NZ$) were:

Lot 575 Van Nistelrooy-Concert Party c (Lime Country T’breds) + $105,000
Lot 560 Lucky Owners-Chinese Whispers c (Poplar Lodge) + $95,000
Lot 662 Lion Heart-Flapper c (Esker) + $78,000
Lot 865 Cape Cross-Osmolite c (Maara Grange) + $74,500
Lot 969 Bel Esprit-Serious Drink (Seaton Park) + $59,700
Lot 615 Don Eduardo-Distinction (Phoenix Park) + $55,000

The sale began like a runaway train. Its strength can be measured by the fact that of the first 21 pinhooks to go through the ring, 15 sold for substantial five-figure profits.

At least 10 of the pinhooks in the sale gave a return on investment (after costs) of 200% or more with Lots 575 and 560 (see above) topping 400% and Lots 662 and 615 (also see above) returning in excess of 300%.

The biggest losses were sustained by:

Lot 1031 Charge Forward-Sunshine c (Bluegables) - $17,600
Lot 698 Octagonal-Grand Orient c (Phoenix Park) - $16,500
Lot 894 Indian Danehill-Pink Melody c (O’Hara) - $16,500
Lot 709 Strategic-Herbal (Poplar Lodge) - $14,700

Significant enough amounts but unlikely to send anyone to the poorhouse. And chicken-feed compared with several in the Premier Sale.

Amongst the 10 pinhooks passed-in, the most costly to get to the sale was Lot 511 Dubai Destination-Be Our Honey (Ellendene Farms) which had clocked up a bill of about $47,000. It failed to meet a $40,000 reserve.

All thus suggests that the Kiwi punhookers wull be here again en masse for the autumn/wunter weanling sales uf they are not already combing the paddocks feverushly for next year’s profut-makers.

(And if you Aussie's don't think you've got a shocking accent, too, you're wrong).