Gross Falls 38.6% During MM Auction

(Edited Magic Millions press release)

The gross revenue declined 38.6% and the average price fell 16.3% during the Conrad Jupiters Magic Millions yearling sale’s first section, which ended Jan. 10 on Australia’s Gold Coast. The clearance rate was 80.1%.

“There was a lot of doom and gloom heading into the sale," said David Chester, Magic Millions’ managing director. "But, privately, I was confident that the sale wouldn't slide as many had in other parts of the world. We worked very hard in attracting the best possible lineup buyers we could find around the world, and they certainly enjoyed the range of youngsters we had to put through the ring. I thought the most important thing was to get the clearance rate to over 80% at the end of tonight's session."

The 503 yearlings that sold during sessions one through four grossed Aust$66,211,000 (approximately $48,851,566 in U.S. funds) and averaged Aust$131,632 ($93,144). Last year, the 686 horses that sold grossed Aust$107,922,500 and averaged Aust$157,321.

A half-brother to 2008 AAMI Golden Slipper (Aust-I) and Inglis Sires' Produce (Aust-I)  Stakes winner Sebring (by More Than Ready ) was sold during Jan. 10’s fourth session for Aust$420,000 ($297,196) to Bart Cummings. The Charge Forward colt, which is out of the 11-year-old Flying Spur mare Purespeed, was consigned by Corumbene Stud.