A director of the artificial insemination company Deer Improvement, Peter Gatley, said the quality of the stock at Wednesday's sale was the future of an industry well suited to New Zealand's image and conditions.
Bidding in the Helmsman-style auction, where all lots are open for written bids on a timed system, was slightly slower than last year, but attracted good prices, the director of Remarkables Park Stud, Alastair Porter, said.
"We're very pleased," he said, after the sale.
While about half the lots did not attract bids, many were subsequently sold by negotiation, he added.
More than 60 potential bidders attended and 60 lots of mostly 2-year-olds were on offer, with bidding closing in on the two top lots near to the end of time when just two buyers were left in the running.
Brian Hampton of Lillburn Valley, near Tuatapere, paid the day's top price of $8700 for a 2-year-old stag out of the dam Lars and sire Mossimo, pipping Alexandra bidders Steve and Raewyn Manson, who then paid $5200 for another 2-year-old.
Mr Gatley said while some in the deer industry still regarded Deer Improvement as the "new boys on the block", providing Remarkables Park with its first AI service in 2004, the quality of yesterday's stock proved their worth, he added.
However, rather than invest in antler and trophy bloodlines, he predicted venison was the key to the industry's future.
"In hindsight, I'm really pleased we put our emphasis into venison."
Velvet was traditional in the Asian markets but producers had found difficulty in finding alternative markets and the trophy market had limitations, with concern about cancellations in the next few years as the world economy and luxury market slowed, "whereas [the] venison [market] is something that could grow extensively over the next few years".
"It's a great product and taste and fits with the whole gourmet positioning, the wild landscape and free range image of New Zealand.
"And you can sell it all over the world."