Median Rises at MM Gold Coast Opener

Number sold, gross, and average fall during Australian auction's first session.

The Magic Millions Gold Coast yearling sale opened Jan. 11 in Australia with an increase of 5.3% in median price from a year ago. However, the number sold, gross, and average price for the first session declined 5.3%, 11.5%, and 6.5%, respectively.

"We're pretty happy with how things are sitting after the first session," said Magic Millions managing director Vin Cox. "People have been telling us that many of the better horses are still to come over the next couple of days so the figures will hopefully rise."

The results included a gross of Aust$14,750,000 ($15,194,400 in U.S. funds) for the 124 yearlings that were sold. The average was Aust$118,952 ($122,536) and the median was Aust$100,000 ($103,013).

The clearance rate was 74.7%, about the same as 2011’s figure of 74.9%.

A Redoute's Choice – I Got Chills colt and a Redoutes’ Choice – Miss Jakeo colt each brought Aust$450,000 ($463,559), the opening session’s top price. Gai Waterhouse and James Harron Bloodstock purchased the colt out of I Got Chills from Strawberry Hill Stud. Segenhoe Stud bought the colt out of Miss Jakeo from Baramul Stud.