A daughter of More Than Ready was the most expensive horse sold during the second session of the Magic Millions national yearling sale, commanding Aust$190,000 ($203,509 in U.S. funds) June 6 in Australia. Her price exceeded the Aust$180,000 ($192,798) amount brought by the Shamardal—Running Jeans colt that topped the opening day.
Brisbane-based trainer Danny Bougoure, who conditioned two-time (2001 and 2002) Australian champion sprinter, Falvelon, purchased the filly from Willow Park Stud.
"She has a lot going for her," Bougoure said. "Others in the family had averaged about Aust$400,000 ($428,440) so she looks like she's a great value. She has a great pedigree and she's a really lovely filly. Thankfully I had a client for her and I'm thrilled to be able to buy her.
"She is the most expensive horse I've purchased and after buying a colt by More Than Ready yesterday (for Aust$130,000, $139,243), I'm very happy."
The filly is out of Australian group II winner Lady Mulan (by Bigstone) and is a half sister to the winner Absent Friends (by Dehere), who has finished third twice in Australian added-money events.
The results for the auction’s first two sessions combined included a gross of Aust$8,719,500 ($9,339,460) for the 276 yearlings that were sold. The average price was Aust$31,592 ($33,838). Compared to last year, when 289 horses were sold, the gross was down 16.5% and the average declined 12.6%.
The clearance rate fell from 79% in 2010 to 69.7% this year.
"There's an adjustment taking place in the market and we've seen that over recent days," said Magic Millions managing director Vin Cox. "The clearance rate was pleasing in this climate. That is probably more an indication of vendors meeting the market rather than the market itself.
"There appears to have been some great value buying and this will continue during the third session of the national yearling sale tomorrow," Cox added.
The strong international buying bench remained active during the second session with successful buyers from countries including Hong Kong, Singapore, South Africa, Korea, New Zealand, and the Philippines.