The Magic Millions national yearling sale got off to a strong start June 6 in Australia. Gross revenue at the end of the first session was up 100.1% from a year ago, and the average price was up 42.3%. The buy-back rate increased to 73.3% from 72% in 2009.
"It is great to see the figures rise so much for the gross and average, and it is pleasing to see the clearance rate higher than day one last year,” Magic Millions managing director David Chester said. "Last year, our second session was extremely strong as buyers realized the value that was on offer, so hopefully we can continue the momentum.
"We have got a record international buying bench on hand -- dozens of trainers from Hong Kong and Singapore, for example, and buyers from New Zealand, Ireland, Korea, Libya, Iran, and the Philippines.”
A Fastnet Rock colt brought the highest price of Aust$400,000 ($329,127 in U.S. funds). Chris McAnulty, whose father, Rob McAnulty, is a well-known bloodstock agent, purchased the yearling for Hong Kong-based Richard Hui.
Newgate Farm, agent, consigned the colt, which Chris McAnulty said would be broken and raced in Australia. McAnulty described the yearling as “a big, strong sprinting type.”
Produced from the winning Rigoletto mare Lirico, the colt is a half brother to The Mikado (by Danehill Dancer), who captured the 2010 Strada Eskimo Prince Stakes in Australia, and the winner Brilliant Chapter (by Commands), who finished second in the Sha Tin Vase (HK-III) and third in the Sha Tin Sprint Trophy (HK-III) in 2009.
The final results for the auction’s opening day included a gross of Aust$5,111,500 ($4,205,900) for the 137 yearlings sold. The average was Aust$32,167 ($26,468).