Revenue of up to $80 million is expected from the three days of the Karaka yearling sales, the company running the sales says.
New Zealand Bloodstock says $28 million was spent on Wednesday alone, with two-thirds of stock going to international buyers.
Chief auctioneer Joe Walls said the sector had had lean times lately and this had lifted things.
"We have had a number of leading Australian buyers stay on for the sale and buy very keenly.
"We also get buyers from Singapore and Hong Kong at the sale as well - but I think the underpinning market is the local market and helped this time by Australia."
Mr Walls said mainland China is also a major influence, particularly at the top end of the market.