MM Sale Posts Record Average

A Nadeem colt tops the horses in training auction, bringing Aust$220,000.

A Nadeem colt topped the second and final session of the Magic Millions national horses in training sale on Australia’s Gold Coast, bringing Aust$220,000 ($226,182 in U.S. funds) Oct. 20. The auction ended with its highest ever average price of $41,206 ($42,364), which was up 7% from a year ago.

Macau-based brothers Nicholas and James Moore purchased the session-topping horse from Washpool Thoroughbreds. The colt was one of 10 2-year-olds that brought six-figure prices during the sale.

"He's a cracking colt who is going to make a lovely 3-year-old," James Moore said. "Hopefully he turns out to be a star when he heads to either Hong Kong or Macau."

The third foal produced from the winning King's Best mare Seven Stars, the colt is a half brother to the winner Dunkit (by Elusive Quality). Seven Stars is a half sister to Australian and United Arab Emirates group II winner Monterosso (by Dubawi). They are out of Australian group I winner Porto Roca (by Barathea).

The results for the entire auction included a gross of Aust$7,211,000 ($7,413,630) for the 175 horses that were sold. Compared to a year ago, when 216 horses were sold, the gross was down 13.3%. The clearance rate was 74.2%, up from 71.3% in 2010.

"It has been a fantastic sale from an international participation perspective--107 of the 175 lots sold were purchased by overseas clients," said Magic Millions managing director Vin Cox. "Full credit for that to David Chester and (Singapore representative) Wade Burridge for all their hard work in recruiting buyers from throughout Asia for this sale.

"The vendors who know their horses and their value have had a great sale," Cox added.

A sale of racehorses followed the horses in training sale’s second session. During that auction, 33 horses were sold for a gross of Aust$283,000 ($290,952). The average was Aust$8,576 ($8,817). The clearance rate was 89.2%.