A Redoute's Choice colt which is a full brother to group I winner Melito brought Aust$750,000 ($773,805 in U.S. funds) to top the third session of the Magic Millions Gold Coast yearling sale in Australia Jan. 13. Sydney trainer Gerald Ryan, who conditioned Melito for the Reavill Racing Syndicate, purchased the colt from Reavill Farm.
“There is a lot to like about him,” Ryan said. “He is very athletic and is a good mover. I wasn’t sure whether I’d buy him or not until I saw him out back there just before he went into the (sale) ring. I looked at him and thought, ‘He’s a good horse, just buy him,’ so I did.
“Melito was a top mare for the stable and she’s now at stud and in foal,” Ryan continued. “This bloke looks more of an early type than his sister, so he could certainly be one for the races next year.”
Melito won the Sky Racing Winter (Aust-I) and Darley T.J. Smith (Aust-I) stakes in 2010 along with three group II events. She and the session-topping colt are out of the Marauding mare Cloister, who captured the 1998 Debutante Stakes in Australia.
The cumulative figures through three days for the auction included a gross of Aust$51,967,500 ($53,616,900) for the 407 yearlings that were sold. The average price was Aust$127,684 ($131,737) and the median price was Aust$100,000 ($103,174).
Compared to a year ago, the number sold and gross were down 3.1% and 1.1%, respectively. The average and median increased 2% and 11.1%, respectively.
The clearance rate was 83.9% compared to 80% in 2011.
“Today was pretty much like yesterday,” said Magic Millions managing director Vin Cox. “There was some spirited bidding around the complex and it’s great to see the clearance rate at (nearly) 84%; that is quite phenomenal.”