MM Gold Coast Sale Suffers Setbacks

A Street Sense colt tops the fourth session in Australia.

The select portion of the Magic Millions Gold Coast yearling sale ended its four-day run in Australia Jan. 15 with setbacks in its key business figures. The number of horses sold and gross revenue declined 2.3% and 6.1%, respectively, from a year ago. The average price and median price fell 3.9% and 5.3%, respectively.

The clearance rate of 81.4% was about the same as 2010’s result of 81.6%.

"The sale has gone very much in line with our expectations," said Magic Millions managing director Stephen Silk. "We were cautiously optimistic that the sale would be around the figures of last year, and we went close with the average, gross, and median figures falling only slightly. The clearance rate tonight of almost 85% was excellent, and we're thrilled with the overall clearance rate of over 81% for the sale."

The final results included a gross of Aust$62,575,000 ($62,246,900 in U.S. funds) for the 503 yearlings that were sold. The average was Aust$124,403 ($123,553) and the median was Aust$90,000 ($89,385).

"The high Australian dollar was obviously an issue with a number of international buyers,” Silk said, “but we still had strong interest and activity from our clients who flew in from abroad.”

A Street Sense  colt was the most expensive horse sold during the fourth session, bringing Aust$440,000 ($436,995). Hong Kong-based Thomas Li purchased the bay yearling from Highgrove Stud and will send him to Australian trainer Peter Moody.

The colt is out of the winning Danehill mare Aristocracy, who finished third in the 2005 Richmond Grove Padthaway Chardonnay Golden Stakes in Australia and is a half sister to Australian group I winner Porto Roca (by Barathea) and New Zealand group I winner Bluebird the Word (by Bluebird). The yearling is a half brother to the winners Catalan Miss (by Tale of the Cat ) and Lordroh (by Lonhro).