MM Sales End With 42.1% Increase in Gross

Magic Millions’ series of national sales ended June 8 in Australia with mixed results for the final session of the yearling auction and the sale of racehorses. But the gross for the entire series of sales of Aust$48,751,300 ($39,780,700 in U.S. funds) was up 41.2% from a year ago.

"The total gross for the sale is up over 41%; that is a great result," said Magic Millions managing director David Chester in a statement. "The sale came at a time when the stock market had taken a hit and the proposed mining tax was announced by Kevin Rudd. Similar lead-up style sales around Australasia had been very tough and we were expecting plenty of tough times. But it is great to see the sale has exceeded the expectations of many, including mine.

"We had great support from vendors around the country and overseas who entered some great prospects,” he continued. "And then we were thrilled to host so many buyers from around Australia and particularly overseas who competed for their desired lots."

During the national yearling sale’s third session, which followed two select sessions, the 72 horses that sold grossed Aust$319,150 ($260,424). The average price was Aust$4,433 ($3,617). Compared to 2009, the gross fell 7.1% and the average declined 18.7%. The clearance rate fell to 66.1% from 78.8% last year.

A Half Hennessy – Caminha colt brought the top price of Aust$25,000 ($20,400). Matthew Dunn purchased him from Riverdene Stud, agent.

During the national sale of racehorses, the 40 lots that sold grossed Aust$380,050 ($310,118) and averaged Aust$9,501 ($7,753). Compared to 2009, the gross increased 64.5%, but the avereage dropped 5.4%. The clearance rate fell to 87% from 88.5% last year.

Dao Dao was the most expensive horse sold, bringing Aust$90,000 ($73,439). Melbourne bloodstock agent David O’Callaghan purchased him from Fig Tree Thoroughbreds, agent.

A 7-year-old gelded son of Shinko Forest out of the Casual Lies mare Casual Way, Dao Dao won the 2009 Royal Parma Stakes in Australia. His other efforts have included runner-up finishes this year in two group I events.

 


 

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