Average, Median Rise at MM Gold Coast Sale

The number sold and gross suffer small declines during Australian yearling auction.

The four-session select portion of the Magic Millions Gold Coast yearling sale in Australia ended Jan. 14 with increases of 2.9% in average price and 11.1% in median price from a year ago. The number of horses sold and gross declined 4.5% and 1.7%, respectively.

The clearance rate was 84.4%, up from 83.3% in 2011.

"We're thrilled with the figures for the sale," said Magic Millions managing director Vin Cox. "The story of the sale is the clearance and the median price. The clearance rate is outstanding. And the average price has increased on last year's figure, so all in all we're very happy.

"Demand on the quality lots was strong and many vendors returned some positive results," he added.

The final results included a gross of Aust$62,570,000 ($64,572,900 in U.S. funds) for the 583 yearlings that were sold. The average was Aust$127,175 ($131,246) and the median was Aust$100,000 ($103,201).

A Fastnet Rock – Freckled Face colt brought the fourth session’s highest price of Aust$370,000 ($381,844). Queensland trainer Bevan Laming purchased him from Coolmore Stud.