Record $38m spend on electric first day
A RECORD-SETTING frenzied first day of the Magic Millions yearling sales included a seven-figure sale and $38 million in bloodstock changing hands.
When the final bell rang at 5.40pm last night, the gross was at $38,185,000 – up $2 million on last year’s first day total.
The average price of $216,960 at the Bundall auction complex yesterday was up $24,000 on last year’s record day one average of $192,016.
American veteran Jon Kelly was the leading buyer on day one while Gold Coast-based Aquis Farm snapped up three six-figure yearlings – priced at $220,000, $300,000 and $400,000 in partnerships.
Coolmore Stud boss Tom Magnier, whose operation has produced some of the country’s leading racehorses, teamed up with top Sydney trainer John O’Shea for the day’s biggest buy, shelling out a cool million for a Fastnet Rock colt.
Magic Millions managing director Vin Cox said it had been a really strong start to the annual five-day yearling sale.
It leads into Australia’s richest race day this Saturday with $10 million in prizemoney on offer at Gold Coast Turf Club for horses bought at the sale next door.
“Momentum is building as we get deeper into the sale,” Mr Cox said, adding there were many reasons for the ongoing growth each year.
“There is a stronger catalogue, it’s a good market, the prizemoney is generally very strong. There is good strong money out of Asia but it wouldn’t be the total driver.”
Mr Cox said Mr Kelly was a very good friend of the Magic Millions and it was good to see the Californian continuing his interest and strong impact.
“He just loves his horses,” Mr Cox said.
It was too early to say whether the 2018 sales were on track to eclipse last year’s $146 million total “but things are pointing towards being close to that”.
Aquis Farm CEO Shane McGrath, who runs the locallybased racehorse and stud operation of Hong Kong’s Fung family, said they could not be happier with their day one buys and returns.
“That was a really fair market," he said.
Aquis had a 100 per cent clearance with four colts and a filly, netting $580,000 all up.
“We met the market, put on reasonable reserves and let the market dictate what things are worth.
“This is the strongest market you are going to find. Today was the busiest sale I have seen in a long time,” Mr McGrath, who was previously with Coolmore, said.
Day two of the 2018 auction – featuring 1062 yearlings in total – starts today at 10am.