A promising half-brother to Group 1 winning mare King’s Rose has sold for an unbelievable $1.75 million in New Zealand earlier today.
The colt was purchased at the New Zealand Premier Yearling Sale for an amount that equates to $A1.36 million.
The yearling was bought by David Ellis, who represents Te Akau Stud in New Zealand.
Ellis had to fight it out in the bidding ring against the Irish powerhouse of Coolmore.
“I really wanted him for the New Zealand breeding industry,” Ellis said.
“It is essential we retain horses like this.
“I knew Coolmore would be on and I had my first bid at $1.45 (million).”
Ellis has already sold 75% of the new colt to cashed up connections and sees no obstacle in selling the remaining shares in the coming days.
The young colt is out of King’s Rose’s mother Nureyvev’s Girl and sired by up and coming star sire Fastnet Rock.
King’s Rose burst onto the Australian racing scene after being purchased by prominent trainer Peter Moody last August.
The Redoute’s Choice mare already had a Group 1 win in the New Zealand Thousand Guineas under her belt when she arrived in her Caulfield stables.
King’s Rose went on to win the Group 2 Memsie Stakes at her first start, and the Group 2 Stocks Stakes in her second.
The mare’s most recent result was a heartbreakingly close second to Albert The Fat in the Group 1 Emirates Stakes last November, after striking interference early on in the race.
King’s Rose has won eight of her 17 race starts and has earned more than $750,000 in prize money.
The New Zealand Yearling Sales has seen some big bids being placed on some well-bred yearlings, with Hong Kong investor Willie Leung purchasing a three-quarter brother to dual Cox Plate winner So You Think for $800,000.