An Elusive Quality colt became the most expensive horse sold so far during the Magic Millions Perth yearling sale in Australia, bringing Aust$240,000 ($184,375 in U.S. funds) during the third session Feb. 11 in Australia. Darren McCauliffe of Impressive Racing purchased colt from Yarradale Stud.
"He's a lovely colt," McAuliffe said. "I looked after his mum when I was working as a strapper with Lou Luciani. Of all her progeny so far, this guy is probably the closest to her.”
The bay yearling is out of the Pricelessly mare Born Priceless, who captured the 2001 Healthway Karrakatta Plate (Aust-II). He is a full brother to the winner Born Princess and a half brother to the winner Classic Victor (by Fusaichi Pegasus ).
The auction’s results through three sessions included a gross of Aust$12,060,500 for the 270 yearlings that were sold. The average, which was up from 2010, was Aust$44,669 ($34,316) and the clearance rate was 67%.
Last year at the same point, 319 horses had been sold for a gross of Aust$13,152,000 and an average of Aust$41,229. The clearance rate was 77%.
"As has happened at all auctions around Australasia this year the quality lots proved popular and sold accordingly," Magic Millions acting managing director David Chester said. "The lower end of the market was tough, and we obviously would have liked the clearance rate of 67% to be higher.
"The economy hasn't helped, particularly the high Australian dollar. We had lower levels of visitors and trade from abroad, although we still had buyers from Malaysia, Singapore, and South Africa. Buyers, as we expected, were very selective, and this has become the norm around the region over recent years.”