Records fell at yesterday's Hong Kong International Sale, with the last colt by late, great sire Danehill ever to be sold at public auction fetching HK$7.5 million and shattering the sale record in the process.
The 28 lots sold - 30 were catalogued, but two were withdrawn yesterday morning owing to lameness and a bone chip - grossed a whopping HK$81.2 million, for an average price of HK$2.9 million.
This compared to 27 lots selling last year for HK$48 million at an average of HK$1.77 million. The aggregate rose by 69.2 per cent, while the average hike was 63.2 per cent year on year - both figures creating new records.
The Danehill colt, one of only three colts at the sale (all the others being geldings), was widely tipped to break the previous record of HK$6 million set two years ago by the King's Best colt who became known as Can Opener.
'It is an extremely strong economy at present so I would have to say I was pretty optimistic we would have a very good sale,' Jockey Club executive director of racing, Winfried Engelbrecht-Bresges, said.
However, Engelbrecht-Bresges emphasised that although it was pleasing to have such a record-breaking sale - which gave the Jockey Club a record HK$30 million profit on its total outlay - making money was not the club's purpose in running the sale.
'The prices for the thoroughbred horses are increasing all over the world but we still believe we give value for money,' he said.