The gross increased 66.6% from a year ago while the average price grew 68.4% during the first two sessions of the Magic Millions national weanling sale in Australia. Through the second session, which was conducted May 27, the results for the 368 horses that had been sold were Aust$13,823,250 ($11,443,600 in U.S. funds) for gross and Aust$37,563 ($31,097) for average.
The clearance rate was 86.2% compared to 84.4% in 2009.
"It's been a great start to the national sale," said Magic Millions managing director David Chester. "Let's hope it continues over the next two weeks. Studs who offered quality individuals were rewarded with high prices and they were delighted with the results. The clearance rate was outstanding and the competition was red hot."
A Starcraft – Bird Sanctuary colt was the most expensive weanling sold during the second session. Matamata (New Zealand) horsewoman Kylie Fawcett, in the name of Oxford Thoroughbreds, bought him for Aust$180,000 ($149,013) from Kulani Park.
"I purchased him for good clients Jim Marks and Kevin Algie," Fawcett said. "He will head back to New Zealand and be raced by them."
Added Marks, who is a veterinarian: "He's got beautiful conformation and a very good temperament. We look forward to getting him over home and let him grow out."
The general session of the weanling portion of the national sale is scheduled for May 28.