A Shamardal colt brought Aust$180,000 ($192,798 in U.S. funds) June 5 to top the first session of the Magic Millions national yearling sale on Australia’s Gold Coast. Hong Kong-based bloodstock agent George Moore purchased the colt from Newgate Farm.
The chestnut yearling is the third foal out of the winning Volksraad mare Running Jeans.
"Actually, we have bought two other colts earlier (in 2011), by Shamardal that cost Aust$410,000 here at the premier sale in January and another for Aust$550,000," Moore said. "We are just trying to buy them as we are giving his stock a big chance this year.
"We have a couple of good ones in the stable, Leading City and Able Charm,” he continued. “They have great temperaments and they are doing well for us. So we are taking a couple of extra chances and this colt was a lot cheaper than the other ones.”
The results for the first session included a gross of Aust$4,457,750 ($4,774,700) for the 132 yearlings that were sold. The average price was Aust$33,771 ($36,172). Compared to last year, when 137 horses were sold, the gross fell 12.8%, but the average rose 5%.
The clearance rate fell from 73.3% in 2010 to 63.5% this year.
"It's what you'd call a sticky market," said Magic Millions managing director Vin Cox. "There are a lot of buyers here at the sale from around Australia and overseas. A positive of the sale has been the significant buying bench that has participated so far and we're hoping this continues tomorrow.
"Ideally, we'd like the clearance rate to grow,” he added. “Hopefully, some of the passed in horses from today can be sold prior to the conclusion of tomorrow's second session. There was good interest on a number of lots and in many cases these lots sold extremely well and those vendors were pleased."