Mainland Banner, winner of the New Zealand Cup and now a broodmare, was sold for $135,000 at a dispersal sale of stock of Cullen Breeding Ltd in Christchurch yesterday.
Cullen Breeding is operated by Ian Dobson, of Christchurch.
Dobson (76) has decided to opt out of the broodmare side of breeding.
He said he would continue to race horses.
He is the owner of champion stallion Christian Cullen.
Mainland Banner was sold along with her embryo transplant by Mach Three.
The package was bought by Peter O'Rourke as agent for an Australian client of Nevele R Stud, Prebbleton.
Mainland Banner has left two other foals, Peruvian Banner and Stunin Banner.
O'Rourke said Mainland Banner would be served by Rocknroll Hanover.
She is unable to carry foals due to a hernia.
She won 17 races including the 2005 New Zealand Cup, NZ Messenger, NZ Oaks and NZ Breeders' Stakes.
Crown Counsel, in foal to Christian Cullen, was sold for $100,000 to Emilio and Mary Stride, of Sydney.
Muscle Beach, in foal to Christian Cullen, was bought by the Success Stud of the Gibson family in New South Wales for $56,000.
Roger and Katrina Price, of Winton, paid $50,000 for Idancedallnight in foal to Christian Cullen.
All 25 broodmares and 11 yearlings offered were sold, for a total of $732,450.
Rachel Deegan, of the standardbred division of PGG-Wrightson, said it was the first time all lots had been sold at a sale conducted by the auctioneers.
"We're delighted with the result," she said.
