(Edited Magic Millions press release)
A Stravinsky filly sold for Aust$200,000 (approximately $160,294 in U.S. funds) to top the opening day of the Magic Millions national weanling sale on the Gold Coast of Australia May 31. Queensland-based Figtree Thoroughbreds purchased her from Coolmore Stud.
The filly, which is the first living foal out of the 10-year-old stakes-winning Canny Lad mare Irongail, will be prepared for the 2010 Magic Millions yearling sale.
Five other weanlings sold for six-figure amounts. A More Than Ready –Yes She Can Cancan colt brought the session’s second-highest price of Aust$155,000 ($124,228). Hassen Adams bought him from Vinery Stud, agent.
The opening day’s final figures included a gross of Aust$4,012,000 ($3,215,498) for the 163 yearlings that sold. The average price was Aust$24,613 ($19,727), and the clearance rate was 80%.
According to Magic Millions managing director David Chester, the rocky economic conditions assisted buyers in picking up some exceptional value during the first session.
"Last year our catalog was boosted by the outstanding dispersal of weanlings from the Swettenham Stud operation,” he said. “And at that time the economy was strong and bidding was frantic. This time around, the buyers are getting some incredible value. The quality weanlings are proving popular, and the buyers are overall very happy. The average price today of $24,613 is obviously well down from last year's sale figure of $46,000.
"We are pleased with the clearance rate of 80% for the first session,” Chester added. “Hopefully that figure and the average will climb tomorrow."