 |
|
 |  |
All the indicators were that there would be a hot market at the Magic Millions National Sale after a record yearling sale series and a strong weanling market but, even so, the auction house’s managing director Barry Bowditch was still coming to terms by how much trade had taken place this week.
The sale closed with a spend of $142.459 million on 611 mares at an average of $233,157 and a median of $120,000. The clearance was 87 per cent, highlighting the intense demand for horses.
We knew we had an unbelievable catalogue and we were very confident with where the market was at, but to achieve the results we have was blowing our minds, to be honest,” Bowditch said. To have a gross of over $142 million, a record average of $233,000 considering we sold 611 lots at a clearance rate of 87 percent is just way above our expectations.” The Written Tycoon Syndicate was the leading buyer, taking home 39 mares at a cost of $16.46 million while fellow Victorian operation Rosemont Stud bought 22 lots for $12.735 million.
Bowditch credited the depth of the buying bench as one of the reasons for the results. To have 25 million-dollar mares and five of those today is better than we thought we’d go,” he said. “The Cornishs at Torryburn are great supporters of Magic Millions.
They’ve had great success buying out of this sale, they have great success at our yearling sales, so it’s great to see them chip up and spend plenty on a mare and Daandine, one of the champion breeders of Queensland who’ve had great luck buying mares here investing in quality bloodstock with their agent Craig Rounsefell is fantastic.” The three-day Magic Millions Gold Coast National Yearling Sale starts on Tuesday.