The 92nd edition of the New Zealand National Yearling Sale kicked off at Karaka on Sunday evening with Deputy Prime Minister, the Right Honourable Winston Peters, advising the large crowd on hand that the government was working on several initiatives to provide a major boost to the local racing industry.

Whilst making it clear that no major announcements were in the offing, Peters outlined intentions for the government to work with Treasury and the Inland Revenue Department to clarify the rules and regulations around bloodstock write-downs and taxation issues.

He believed agency interpretations were hampering Industry efforts in those areas since they were changed under his watch when last in government.

Peters also reiterated the need for serious changes within Industry structures to ensure cost reductions were passed on to the benefit of key participants such as horse owners and punters through increased prizemoney and the associated flow-on effects.

Peters also indicated that work was underway to introduce one or more artificial racing surfaces for the thoroughbred industry although locations and the timing of the developments were still to be confirmed. Peters expected more details would be available once the government finalised its first budget in May.

With one hundred lots on offer on the new Sunday evening session of the sale, bidding was steady early on until Lot 10, a Tavistock filly from Sir Patrick Hogan’s last draft as principal at Cambridge Stud, entered the ring.

From a powerful female lineage that includes champion race and broodmare Tristalove, the showy bay fell to the $420,000 bid of local bloodstock agent Bruce Perry who beat out Mike and Paul Moroney to secure the colt.

Purchased for New Zealand clients, Perry was taken by the filly’s pedigree along with her physical presence.

“She has a superb pedigree from a sire that is doing a good job and she was a great type,” he said.

“I’ve bought her for some Cambridge based breeders, so she will stay here in New Zealand.”

The powerful Asian buying bench also made their presence felt in the opening stanza with the Hong Kong Jockey outlaying $400,000 to secure Lot 26, a Fastnet Rock colt offered through the Henley Park draft.