NZB subsidiary gavelhouse produced a record breaking Sale on Monday that saw the business hit major milestones.
A total of 40 lots were sold on gavelhouse.com for an aggregate of $587,800, pushing the total turnover for gavelhouse.com Sales to over $3 million since it launched in April 2016.
The top lot was purchased by renowned bloodstock agent John Foote in his first foray into buying online. The broodmare, Ampin (Pins x Ambitious), is in foal to New Zealand's award-sweeping Group 1 sire Savabeel and sold for a record $211,000.
The increased popularity of online trading has had a positive influence on clearance rates, with the site consistently achieving clearance rates of over 80% in recent months and in particular, 93% for this Sale.
Mixed bloodstock listings on the auction site continue to grow as vendors embrace the cost-effective selling option while the convenience and regularity of the trading opportunities drive purchasing behaviour. This trend has seen a significant reduction in the number of entries received for NZB's Winter Mixed Bloodstock Sale. Many vendors are now choosing to sell their mixed bloodstock online and the Sale planned for 28 July at Karaka has been cancelled.
"gavelhouse.com has well and truly exceeded our expectations. In a little over a year the company has sold 531 horses for just under $3.1 million dollars" said NZB managing director Andrew Seabrook.
"Providing a consistent and cost effective platform for our clients to sell their horses throughout the year has been key.
"Whilst gavelhouse.com isn't going to have an effect on the yearling and two year old sales at Karaka in the immediate future, the results online in recent times are proving that quality horses will sell very well.
"Our clients, vendors and buyers alike, have really embraced the concept and I'm sure it's only going to keep growing" he concluded.
Sales and Marketing Manager Haylie Martin attributes much of the site's success to not only the revolutionary trading model but also to the high level of collaboration across the business.
"Having the full backing and support of the team at NZB, in particular the bloodstock agents, has enabled us to provide a level of expertise and advice that's second to none in the online space in terms of valuations, reaching buyers and achieving maximum returns.
"The launch of our fortnightly auctions in Australia has seen increased Trans-Tasman trade. With our cutting edge technology system, which saw it a finalist in the 2017 Microsoft Partner Awards Cloud Platform Partner of the Year category, further expansion into other countries is something we hope to do in the near future and this will in turn have positive effects domestically."
Entries for gavelhouse.com's next New Zealand auction are now open and will close on Monday 19 June at 7pm. The catalogue will be launched at 5pm on Tuesday 20 June and bidding will close from 7pm on Monday 26 June. The friendly and helpful gavelhouse.com NZ team are available to assist customers whether selling or buying (+64 9 296 4436) while July will see the return of gavelhouse.com's 'bucket full of cash' prize draw for vendors that sell on the site in the month.
Nominations are now open for NZB's 92ndNational Yearling Sales Series due to be held at Karaka on 28 January – 4 February 2018. You can nominate your yearlings online here.
Online entries for the 2017 Ready to Run Sale of 2YOs will open on 11 July. The Sale will be held at Karaka on 22 & 23 November, with Breeze Ups at Te Rapa on 16 & 17 October.
For more information visit www.nzb.co.nz.
