$2M FOR YOUR EYES PONY
Highest price paid since Global Financial Crisis
JON Kelly, 81, the top buyer on day one of the Magic Millions Yearling Sale, spent $2m on day two yesterday for this son of I Am Invincible and says he hasn’t put the cheque book away yet. The American tycoon told the Bulletin the racing game was addictive: “It’s the highest highs and the lowest lows — just like having a new baby or having a death in the family. It is that big a deal emotionally. But that’s why people love it so much”. Mr Kelly’s $2m bid was the highest price paid for a Magic Millions yearling since $2.2m changed hands in 2008.
AN AMERICAN tycoon who splurged $2 million on one horse at the Gold Coast Magic Millions sale says he hasn’t put the cheque book away yet.
Californian ex-TV station owner Jon Kelly said he went half a million above what he planned yesterday for the I Am Invincible-sired colt, setting the highest price for a Magic Millions yearling since the Global Financial Crisis.
Back in 2008 then mining millionaire Nathan Tinkler’s Patinack Farm paid $2.2 million for a horse at the January sale.
Mr Kelly – the top bidder on day one this week when he shelled out more than $2 million for five lots in partnerships – said his new $2m colt ticked all the boxes.
“The only box he ticked a little too hard was the price. But you know, you can’t take it with you and at my age, I’m lucky to be here. At 81, I’m still getting up early and drinking too much,” he said with a laugh.
Asked if he had put the cheuqe book away, he said: “You never know, you’ve got to keep them guessing”.
Magic Millions managing director Vin Cox, a close friend of Mr Kelly, said it was the highest price paid for a yearling at the sale since he took over running it in 2012.
“It’s great to have friends like that who support the Magic Millions and come a long way to support our sale.”
Mr Cox said having such a highly regarded American thoroughbred racing identity as Mr Kelly making major buys brought increased focus from around the world.
“Him being here and being as prominent as he is in the thoroughbred industry in the US means people over there look and go ‘what is he doing over there?’.
“So the knock-on effect of something like that is quite significant for our industry,” Mr Cox said.
Mr Kelly, who bought the colt in partnership with Reg Inglis and Paul Frampton, said he would entrust its development to leading Australian trainer Gai Waterhouse.
“We have had some success in the racing business and some failures, just like everybody else. And it will happen again,” Mr Kelly said.
“The thrill of the success is so fantastic that you want to have it happen to you again but unfortunately you are very fortunate to win two out of 10 times,” he said.
“It’s the highest highs and the lowest lows — just like having a new baby or having a death in the family. It is that big a deal emotionally. But that’s why people love it so much.”
Mr Kelly said he had seen the Magic Millions go from
being “at the bottom” to the best yearling sale in Australia.
His $2m buy was the highest of the 2018 auction so far, with the average price paid for yearlings sitting at $225,000 last night on a total $88 million in bloodstock sales.
Scone-based Yarraman Park Stud owner Harry Mitchell, who sold the colt, said he had expected it to be one of the better ones in the sale.
“But you never dream that one is going to make that much. It’s nice to get it right occasionally.”
Mr Kelly’s wife, Sarah, said the auction bidding on her husband’s $2m buy was very exciting.
Asked if they paid more than she would have liked, she said: “We did.
“So now it’s on his shoulders but Gai is quite good at what she does.
“We have been disappointed with horses before so if that happens we’ll just have to live with it. But I don’t think he is going to let us down.”
Mrs Kelly is one of 40 women – including Magic Millions co-owner Katie Page – who bought into Global Glamour, sold for $65,000 at the 2015 sale.
The horse has so far amassed $1.3 million in prizemoney and is favourite for the $1 million fillies and mares race tomorrow.