Karaka 2026 earns its own place in New Zealand’s thoroughbred history
Richard Edmunds - Raceform • January 29th, 2026 11:49 AM • 5 min read
The 100th edition of New Zealand’s National Yearling Sale was guaranteed to be a memorable occasion regardless of its results, but a remarkable Book 1 session saw Karaka 2026 secure its own special place among a century of sales.
The weeks and months leading into the sale were full of anticipation and reflection, with a spotlight shone on so many of the legends that had gone through the sale ring at Trentham between 1927 and 1987 and at Karaka since 1988.
The NZB team went to great lengths to take everyone down memory lane and also to lure them to Karaka, and their efforts were rewarded with a blockbuster Book 1.
At various points on Sunday and Monday, the Sir Patrick Hogan Auditorium was more crowded than it has been in recent memory. All corners of the sale ring were packed with major players from New Zealand, Australia, Asia and even further afield – including appearances by champion British trainer William Haggas and American bloodstock agent Ramiro Restrepo, the purchaser and part-owner of 2023 Kentucky Derby winner Mage.
Despite far from ideal weather, there was a noticeable buzz around the complex and it turned into some spectacular results in the sale ring.
NZB changed the format of Book 1 this year, reducing the size of the catalogue and dropping from three days down to two days of eight to nine hours each.
Even with 94 fewer horses catalogued than last year, Book 1 of Karaka 2026 achieved an increased aggregate of $79.02 million versus $75.3 million last year. The average rose from $164,841 to $187,257, the median from $110,000 to $140,000, and the clearance rate from 78 percent to 81 percent.
“The new format has seen Book 1 come back from three days to two, and despite having 94 fewer horses catalogued, the aggregate is up more than $3 million on last year,” NZB managing director Andrew Seabrook commented.
“We've hit a record Book 1 average and median, and a clearance rate which we haven't seen in some time. I’m very proud of the whole NZB team, the positivity on the grounds has been fantastic. The whole industry has really lifted this week.”
Last year’s Book 1 dale saw 26 yearlings fetch $400,000 or more. That number increased significantly to 37 this time around, headed by a seven-figure sale-topper for Cambridge Stud’s second-season stallion Sword Of State.
Offered by Cambridge as Lot 513, the colt is a half-brother to the four-time Group One winner Ceolwulf. After a desperate battle with Te Akau Racing principal David Ellis, the colt was bought for $1.1 million by leading Australian trainer Ciaron Maher’s head of bloodstock Will Bourne.
“David Ellis is a hard guy to beat, especially here on his home deck,” a relieved Bourne said. “But this is a lovely horse. We got some great support from a new client, Mr (Sanxiong) Gao, and we’re thrilled to have him on board.
“There might be a few similarities between this horse and Ceolwulf, although one was a cheaper purchase that developed into a really nice horse over time. This one has a lot of strength and is very much a yearling sales horse. There’s a lot of power there. I feel like he’s a different type of horse – he’s very imposing and a proper colt. We’ll get him home and try to turn him into something.”
Bourne has been impressed with Sword Of State’s first two-year-olds this season, including Listed Debutant Stakes winner and Karaka Millions 2YO placegetter Torture and Bjorn Baker’s unbeaten colt Warwoven.
“We’ve got one that we bought last year that’s showing really good ability at home, and obviously we’ve seen the horse that Bjorn Baker has,” Bourne said. “For a young stallion to start the way he has is a credit to Cambridge Stud. We’re happy to support them. They do such a good job and are so supportive of the industry here and the community. Sword Of State is a nice stallion on the up.”
The sale-topper headlined a huge Book 1 result for Cambridge Stud, whose principals Sir Brendan and Lady Jo Lindsay decided to support the 100th National Yearling Sale with 100 percent of their yearlings for sale this season.
Cambridge Stud sold 50 of the 54 yearlings they offered for a total of $10.64 million and an average price of $212,800. They finished $4.74 million ahead of second-placed Waikato Stud to be crowned leading vendor – their second such title since the Lindsays purchased the esteemed nursery from 31-time leading vendors Sir Patrick and Lady Hogan a decade ago. The Lindsay-owned Cambridge Stud was also the leading vendor in 2021, when they sold 45 yearlings for a total of $5.7 million at an average of $126,667.
“It means a lot, especially the $1.1 million colt, because there’s a whole lot of things going on here,” Sir Brendan Lindsay said. “John Foote bought the dam for us (Las Brisas), and he was helping us even before we had Cambridge Stud. And since then he’s bought horses for us in England and France.
“And then David Ellis was the underbidder. We bought Sword Of State off David.
“It’s an awful lot of money and it tells the industry that, from a $15,000 service fee, you can actually turn it into $1 million.
“And it’s encouraging for New Zealand. You know, we’re a great country and we breed the best horses. It’s great for New Zealand, because it gives everybody a leg up. This is great for our country and our breeding industry.
“More important from our point of view is what it means to Henry Plumptre, Scott Calder, Cameron Ring, Ben Tappenden and the whole crew – all the people that do the long hours and the hard hours. They were over there crying their eyes out. They are so emotional and relieved. It’s a moment that they’re going to remember for the rest of their lives.
“Everybody’s heard it before, but the point is that this is a fantastic game. Jo and I believe in our country, and everything we do is about New Zealand.
“It’s the 100-year anniversary of an iconic New Zealand brand, the National Yearling Sale, and we’re happy to be part of it.
“Sir Patrick always celebrated other people’s success as well as his own, and I’d like to think he would have been proud. And Lady Justine and their family have been so supportive of Jo and I.”
Along with the $1.1 million sale-topper, five other Cambridge Stud yearlings sold for $400,000 or more. A colt by Snitzel out of Amarelinha was bought by Chris Waller Racing and Mulcaster Bloodstock for $850,000, while Mulberry Racing paid $650,000 for an Anamoe colt out of Save The Date. Shijiazhuang Hongtao Horse Breeding secured a Savabeel colt out of Allemande for $550,000, Scott Cameron and Cameron Cooke went to $475,000 for a Sword Of State filly out of Fuld’s Bet, and Stephen Marsh Racing and Dylan Johnson Bloodstock paid $420,000 for a filly by Sword Of State out of Botanic.
Four of those six top-priced lots in the Cambridge draft were purchased by Australian buyers, and Sir Brendan Lindsay recognised the massive role that they played during Book 1 of Karaka 2026. Visitors from across the Tasman combined for a total of 184 purchases on Sunday and Monday (35 percent of the total number of yearlings sold) for an aggregate of over $39 million.
“A lot of New Zealand breeders have supported us, and a lot of them have made money out of Sword Of State in particular, which is great and means they can reinvest it,” Sir Brendan Lindsay said. “But a result like this would not have happened without our Australian friends coming across the Tasman and wanting to buy New Zealand bloodstock. They’re the ones that have been buying the horses this week.”
Te Akau’s David Ellis claimed his 18th leading buyer title at the New Zealand National Yearling Sale, this time purchasing 17 yearlings from Book 1 for a total of $4.26 million.
“It’s been a very successful sale for the New Zealand industry, it’s something they needed,” Ellis said. “All credit to NZB and their team for putting on a great show.
“I can’t wait to get these yearlings home into their paddocks and start selling shares in them.”
