Gross, Average Rise at Magic Millions Sale

A Redoute's Choice colt brings Aust$250,000 to top the opening session.

A Redoute's Choice colt brought the top price of Aust$850,000 as the gross and average price increased from a year ago during the opening session of the Magic Millions Gold Coast yearling sale in Australia Jan 12.

Melbourne-based trainer Peter Moody purchased the colt from Reavill Farm. Produced from the unraced Luskin Star mare Bourgeois, the yearling is a full brother to Stratum, who captured the AAMI Golden Slipper Stakes (Aust-I) and Darley Stakes (Aust-II) in 2005.

The results for the auction’s first day included a gross of Aust$16,659,500 for the 131 horses that were sold. The average was Aust$127,172 and the median price was Aust$95,000. Last year, the 132 yearlings that were sold grossed Aust$16,554,000 and averaged Aust$125,409. The median was Aust$100,000.

The clearance  rate rose from 73% in 2010 to 75% this year.

"It's been a satisfying day for both buyers and vendors," said Magic Millions managing director Stephen  Silk. "It did seem to be a buyer's market; I think there was some great value buying. We were pleased with some strong international bidding, particularly from the Hong Kong Jockey Club, which has been a strong supporter of the Magic Millions yearling sale over recent years."