A colt by champion stallion Fastnet Rock (Danehill) is now in the hands of Hunter Valley nurseries Kia Ora Stud and Bhima Thoroughbreds after they combined to secure the weanling at the Inglis Great Southern Sale yesterday for $300,000.

The top-priced colt, who has been earmarked to be re-offered as a yearling, was one of eight weanlings to reach six figures during the opening session in Melbourne which also saw a Zoustar (Northern Meteor) colt make $225,000.

They were the sale ring highlights on a bleak day at a rain-sodden Oaklands Junction complex where the buying bench zeroed in on select sale quality weanlings, providing strong results for those vendors.

The buying bench, however, was not prepared to compromise on foals at the lower end of the market, which led to the average price falling 20 per cent on the corresponding session last year and the median dropping from $18,000 in 2017 to $12,000 this year.

The sentiment did not stop strong competition at the top end of the market, with the highest-priced lot to be sent to Bhima Thoroughbreds’ Mike Fleming to be grown out.

The son of Fastnet Rock, who was consigned by Rosemont Stud as Lot 97, is the seventh foal out of the European twice-winning mare Benalmadena (Nashwan) and a half-brother to Group Three winner Cartaya (Singspiel) and the stakes-placed Elabela (Tamayuz).

Kia Ora Stud manager Alex Kingston said she and Fleming wanted to to have a yearling by the champion stallion in their draft next year and he was clearly the pick of the foals at this week’s sale.

“We haven’t got a Fastnet Rock for (next) year and he was a standout of this sale for us. He had a great work and disposition, he has a beautiful head and I am really excited to be able to sell him,” Kingston said.

“I was under bidder on a lot (of Fastnet Rocks) at the Gold Coast, so we came down here on the off chance that we might find something and I did.”

Bidding for the colt opened at $150,000, momentarily stunning onlookers, but it had the horse on the market from the outset.

“That was the reserve, so it was nice to get him on the market and not start (bidding) nice and low. We put in a couple of bids and we were getting very close to our limit,” she said.

Kingston said the colt could be offered at next year’s Magic MIllions Gold Coast Yearling Sale.

“He is a beautiful, well-balanced mature colt that obviously went through a nice preparation at Rosemont and he looked very well. He was our colt of the sale,” she said.