Spending at this year’s national yearling sales at Karaka was 20% up on the previous year by the time sales wrapped up yesterday.

Seven days of yearling sales saw a total of $93.6 million spent, up 20% on the previous year’s total of $74.9 million, according to minister of racing John Carter.

The final day of the two-day festival session –which wrapped up the seven-day sales series – saw the previous record price broken three times.

Monaco-based logistics magnate Owen Glenn is set to buy model Kylie Bax's share in her family thoroughbred business Blandford Lodge.

Mr Glenn will become a neighbour and joint venture partner of Ms Bax's parents, Graham and Helen-Gaye Bax, when the deal is finalised shortly.

Mr Glenn declined to comment on the purchase price, but said he had about $10 million to spend on horses to stock the lodge.

"It's a grand old place," Mr Glenn told NBR. "We're going to spruce it up and bring it back to its former glory."