A full brother to Golden Slipper winner Catbird brought $1.1 million (Australian) Sunday at the Conrad Jupiters Magic Millions yearling sale, setting a record for the Gold Coast-based Magic Millions Sales company in Australia.
The Danehill--Fitting colt was purchased by New Zealand-based owner Rob McAnulty, on behalf of Hong Kong-based businessman Peter Yip. McAnulty said the colt will not be exported and will be trained by Gerald Ryan, with a view to winning the Magic Millions $1 million race for 2-year-olds in 2003.
McAnulty's final $50,000 bid outdid his competitor, Irish-based veterinarian Demi O'Byrne, who was acting on the behalf of Coolmore Stud managing partner John Magnier and Michael Tabor.
In all during the fourth session, 149 horses were sold for a gross of $12,731,500 and an average of $85,446. Through four sessions, 521 horses have been sold for a gross of $44,298,000 and an average price of $85,025, which compares with an average of $87,610 last year (down by approx. 3%). The clearance rate also fell by 4% to 83%.
Magic Millions managing director Don Hancock said "Given the world circumstance of the latter part of last year, we considered it business wise to expect a sizeable fall in results and we astutely budgeted accordingly".
"Obviously we did not want to see a drop in the clearance rate, because it means more yearlings did not sell, but we did catalogue 47 more lots than last year", Hancock said. "It is pleasing though that the average price has held up so well and overall the sale was solid enough".
"We did see too many yearlings come to the sale backward in development, and some vendors had unrealistic reserves".
During the auction's third session on Saturday, a Zabeel--Warning Express colt and a Timber Country--Valourina filly each brought $310,000. In all, 85 horses were sold during the third session for a gross of $3,536,641, an average of $41,489.