Business Booms at MM National Yearling Sale

Average price for the select portion rises 62.7% from a year ago.

The select portion of the Magic Millions national yearling sale, which ended its two-day run June 7 in Australia, generated a gross that was up 88.9% from a year ago and an average price that increased 62.7%. The clearance rate rose to 79% from 78.3% in 2009.

"What an amazing two days (of) selling," Magic Millions managing director David Chester said in a statement. "The figures achieved have exceeded my expectations although they didn't surprise me completely. Our team spent a lot of time trying to ensure we had a large number of clients across all levels of the market.

"And when you cast your eyes over the results,” he continued, “you'll see what a broad cross section of buyers we have from right around the world. It's something I'm quite proud of, Magic Millions being a true international Thoroughbred sales company. Andy Williams (World Wide Bloodstock) from South Africa and Willie Leung (Magus Equine Ltd.) from Hong Kong were exceptionally active and they secured some lovely youngsters. We also had a number of well-known Australia trainers amongst the buyers as well. It was great to see so many of our loyal clients at the sale picking up their next racetrack star.”

An Encosta de Lago colt topped the auction’s second select session, bringing Aust$320,000 ($263,254 in U.S. funds). Patinack Farm, represented by Rick Connolly, purchased the chestnut yearling from Willow Park Stud. The colt is the second foal out of Australian group I winner Ellicorsam (by Fimiston).

“He’s a really nice colt,” Connolly said. “He’s got plenty of scope and we thought he was the top colt in the sale. He’s from a group I winner and could become a top sire prospect. Overall he was a great mover and looked a top prospect, and we’re delighted to have bought him.”

The key business figures for the sale’s two-day selection portion included a gross of Aust$10,446,750 ($8,594,230) for the 289 yearlings that were sold. The average was Aust$36,148 ($29,738). A Magic Millions press release described the results as “record figures across the board.”