Dehere Colt Brings Record Price in Australia

A record price for a 2-year-old sold at public auction in Australia was established Thursday when a Dehere colt was sold for AUS$825,000 during the Magic Millions Gold Coast horses in training sale.

With the bidding opening at $500,000, the colt was the object of a spirited bidding war between four different entities before he was hammered down to prominent bloodstock agent Rob McAnulty, according to the Australian Associated Press. Businessman Paul Makin was reported to be the underbidder.

The AAP reported McAnulty believed the colt could have been acquired for $750,000, but he was not upset at his final winning bid.

"A number of young horses like him, with his pedigree, would sell for a million dollars as a yearling," the agent sasid. "So at the price and after seeing him sprint up, he's a good buy."

Produced from the stakes-winning Danehill mare Shovoff, the colt more than doubled the previous record Australasian price for a 2-year-old.