Gross And Average Decline At Magic Millions Adelaide Yearling Sale

Adelaide's Magic Millions contained a record high Danehill colt at $260,000, but the second-tier yearling sale returned reduced figures on the previous year. When the two-session main auction ended Thursday, turnover reached just over $8,049,500 (Australian funds, approximately $4,784,059 in U.S. funds), a substantial loss of $3 million (27.3%).

RNAs totaled 83 which represented 25.6% of the 324 head offered -- leaving 241 sold, 53 fewer than last year, from a catalogue 56 head lighter. The average fell 10% to $33,540 ($19,934), and the median was down by $1,750 or 5.5% to $30,000.

The 2002 average was $37,052 and 12 months earlier the main sale in the South Australian capital city had reached a record $40,251. The Feb. 19 and 20 sale brought trade and other indicators back to 2000 levels in Adelaide.

The average for the 136 colts to sell slipped 8.25% to $35,643, the $30,266 for 105 fillies was down more than 12%.

"Reduction in the size of the catalogue for the 2003 sale was directly attributable to last year's successful private weanling sales held by Magic Millions for two leading studs in South Australia, the Hayes family's Lindsay Park Stud and Gawler Park Stud," said David Chester, Magic Millions managing director. "The top of the market was as strong as any other sale in Australasia this year."

A Danehill son set a record $250,000 for a colt at the opening session. The bay from Sir Tristram mare Cherry Garden is a sibling to Liberty Rose, the Royal Academy sired winner of the Adelaide Guineas. Leading Sydney trainer Gai Waterhouse signed for the colt. He was consigned by Collingrove.

The previous high for a male in Adelaide was $165,00 for a Royal Academy three years ago.

The families of Robert Sangster and the late Colin Hayes are co-owners of Collingrove and it was at the Sangster sale 19 years earlier the state mark for a yearling was set at $310,000, for a filly.

This year, four yearlings by Bianconi averaged $73,375; six by Distorted Humor $51,833; Favorite Trick's three $26,333; Hennessy's four $24,750; and King of Kings had five sell at $27,600 apiece.