Gross Up at MM Adelaide Sale

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(Edited Magic Millions press release)

The Magic Millions Adelaide yearling sale ended its three-session run March 12 with a gross of Aust$5,291,250 (approximately $3,422,433 in U.S. funds) that was up from last year’s total of Aust$5,258,000. The clearance rose from 76% compared to 72% in 2008.

A number of passed in lots were sold during the third session, which helped push up the gross.

"This is a remarkable achievement," said Magic Millions managing director David Chester. "The sale aggregate figure along with the clearance rate percentages are the most important when assessing a sale. The quality of yearlings in a catalogue can go up and down and this affects such figures including that of the average price, but when assessing a sale's performance the gross and clearance rates are the most telling."

The figures for the third session were 71 horses sold, a gross of Aust$390,050 ($252,288), and an average of $5,494 ($3,554). The top price for an individual horse was Aust$25,000 ($16,170 for a Strategic colt purchased by New Zealand-based buyer Roger Cooksley), and the clearance rate was 79%.
 

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