$1.75 million colt an investment

$1.75 million colt an investmentDavid Ellis paid $NZ1.75 million ($A1.36 million) for a half-brother to King’s Rose and then declared he hoped the colt would later be worth “real money”.

The head of the Te Akau racing and breeding operation, Ellis bought the Fastnet Rock-Nureyev’s Girl colt from the Cambridge Stud draft at the Karaka Premier Yearling Sale on Tuesday after a bidding battle with Coolmore Stud.

The price had only been bettered by four yearlings in the sale’s history but Ellis says he could be worth much more.

“The fact that he’s by such a great sire out of a Nureyev mare that’s left a Filly of the Year gives this colt terrific potential,” Ellis said.

“If this colt can win Group One races he’s worth real money.”

Ellis’ $1.1 million purchase from 2004, Darci Brahma, was a multiple Group One winner who has more than earned his purchase price through stud fees.

He said not every big buy would be a top horse but the upside when a good horse with a top pedigree was up to Group One level was worth the investment.

“Horses of the quality of Darci Brahma are really hard to find, and that is why when you do hit the jackpot… you have a horse with extreme value,” he said.

The colt will head to Ellis’ Te Akau Stables to be trained by Jason Bridgman.

King’s Rose won the Filly of the Year series in New Zealand last season and won two Group Two races in Melbourne last spring after being transferred to the stable of Peter Moody.

Earlier, Hong Kong buyer Willie Leung paid $800,000 for a three-quarter brother to Australasian champion So You Think.

The $1.75 million colt sale pushed the sale average up to $159,866, still below the 2011 figure of $174,864.

Sir Patrick Hogan’s Cambridge Stud was the leading vendor for the 31st consecutive year.

Despite topping the aggregates again, Sir Patrick said selling wasn’t easy as buyers were being selective, especially as the world economy meant more people were saving their cash.

“I’d have to describe it as being a tough sale, but quality horses have made their money,” he said.