Cambridge Stud to sell some yearlings at Australian sales

Press, 27 June 1989, Page 31

Cambridge Stud to sell some yearlings at Australian sales

The Cambridge Stud will be participating in the three major Australasian yearling sales in the 1990 sales series, the owners of the stud, Patrick and Justine Hogan announced yesterday, including the Magic Million Sale in Queensland.

“We have decided to send yearlings to the three sales, at Karaka in South Auckland, and the two Australian sales in Queensland and Sydney,” Mr Hogan said in a statement.

“As the single largest earner from New Zealand yearlings, we are naturally concerned to

obtain the best possible prices for yearlings raised at our stud. “After examining the various sales, we have concluded that to achieve this objective, participating in a number of sales will produce greater revenue than concentrating on just one sale,” Mr Hogan said. “While the results from a sale in one location in New Zealand have been very satisfactory in the past, there are buyers in Australia who do not attend the Karaka sales. We believe that some of those would be interested in our year-

lings and, by sending our stock to Australia, we are giving them that opportunity. “The Cambridge Stud will still be submitting for entry 35-40 yearlings to the Wrightson Karaka sale in December/January.

“Our confidence in New Zealand-based sales of prime bloodstock remains high. Wrightson, as the operators of the Karaka sale, have been informed of our decision to participate in other sales, and the company acknowledges our right to do so,” Mr Hogan said.

“We are making our

intentions known now as entries for the Magic Million Sale in Queensland in January have to be lodged by the end of June and entries to William Inglis Easter Sale in Sydney, by the end of July.

“The nature of the market in Australia is different from that in New Zealand and we see opportunities to increase our earnings. It is our risk and the decision was taken after careful study, and was made solely on commercial grounds in the interests of the owners of the Cambridge Stud,” Mr Hogan concluded.