Average Falls 12.7% at Magic Millions Auction

The gross for the QTIS 600 yearling sale in Australia drops 13%.

A Falvelon -- Untold colt topped the second and final session of the Magic Millions QTIS 600 yearling sale April 18 in Australia, bringing Aust$110,000 ($126,712) from Queensland trainer Pat Duff. Raheen Stud consigned the colt.

“This is a standout colt, a typical Raheen Stud type horse – tough, strong, and sound,” Duff said. “We believe he will train on and improve. Our top galloper, Hard To Catch, was reared from this stud and he won over a million (Australian) dollars for us.”

The auction’s final results included a gross of Aust$6,692,500 ($7,066,810) for the 347 yearlings that were sold. The average price was Aust$19,287 ($20,366) and the clearance rate was 71%. Compared to last year, when 462 yearlings were sold, the gross was down 13% and the average fell 12.7%.

"It's been a remarkably good result considering the natural disasters that have impacted the Queensland economy and in particular the confidence of the racing industry,” said Magic Millions acting managing director David Chester.