OUTGOING managing director of the Magic Millions, Vin Cox, could not be happier managing his last Magic Millions Gold Coast Yearling Sale (Book 1) which concluded last Saturday night.
“It’s the highest grossing yearling sale ever conducted in the Southern Hemisphere since 2008,” said Vin Cox.
Buyers spent $155.877 million for the 683 sold lots, from the 771 lots offered for a $228,224 average in the price. This is compared with a smaller catalogue of 659 sold lots from last year for gross sales of $135.188m for a $205,142 average.
The clearance rate was 88%, Mr Cox underlined certain factors which helped in the increase.
“It started with our vendors and breeders - they gave us an extremely high-quality draft and together with our continued racetrack success over many years it gave us the ability to promote our sale far and wide which has provided us with a very strong, deep buying bench.”
“So both vendor and buyer have confidence in what we are doing and what we are producing, and as a result (this year) it was the perfect storm.”
“People come to town, they know that they are going to get the Magic Millions treatment, and that is well looked after – they are going to have a great time, and hopefully come out with a good racehorse, or sell a horse for good money.”
A record total of nine horses fetched $1 million or more. These included three million dollar plus colts by Australia’s hottest stallion I Am Invincible (which stands at the Mitchell family’s Yarraman Park, Scone) at $2m (top price), $1.9m, and a $1.45m.
Arrowfield Stud’s champion sire Snitzel was also hugely popular, the Danehill stallion gaining top honours as the sire of the top priced filly at $1.8m.
Another top Snitzel sale was for a colt at $1.6m. This colt – a brother to Group 1 winner and young sire Sizzling, was sold via John and Trish Muir’s Milburn Creek Thoroughbreds – a property based in the Southern Highlands.
The colt was purchased by Yuesheng Zhang of Yulong Investments in conjunction with Phoenix Park, Aquis Farm, and Caulfield trainer Ciaron Maher Bloodstock.
Another 200 catalogued lots will be offered today (Sunday) for the Book 2 session.