‘Genuine’ day one sets tone for rest of Magic Millions

The opening day’s trade at the Gold Coast has provided the market with a steadying confidence as three million-dollar yearlings changed hands during the first session of the Magic Millions sale on Tuesday.

Magic Millions managing director Barry Bowditch declared the market “genuine” with a clearance rate of 78 per cent and more than $40 million in trade. 

With a median of $200,000 and an average of $284,724, Bowditch said day one unfolded largely in line with expectations as buyers and vendors felt their way into the week.

Coolmore’s Tom Magnier made a statement early in the day, paying $2 million for a Frankel colt bred by John Camilleri, while Bruce Wilson’s Glentree Thoroughbreds went to $1.05 million for the third foal out of champion New Zealand mare Avantage.

The daughter of I Am Invincible was sold by Coolmore, pushing the Magniers’ gross return to $4.75 million from three foals sold, having paid NZ$4.1 million for Avantage at the conclusion of her racing career.

Bowditch’s confidence grew about buyers’ likely participation as he returned to the company’s Bundall sales complex following the Magic Millions 2YO Classic and 3YO Guineas barrier draw at Broadbeach.

“I thought the sale got off to a really, really solid start. I think it’s a really genuine market. I think the vendors that are very, very motivated to meet the market are getting their horses sold,” Bowditch said.

“I was talking to the auctioneers through the day and they were commenting on the amount of horses once they reached reserve that were going on and making reserve-plus-plus. So, that’s always a great sign that there’s genuine competition out there.”

Bowditch said the most encouraging sign was the spread of buying power, with 97 different entities purchasing from the 144 lots sold and no single buyer dominating proceedings. 

“That tells you everyone’s getting a turn,” he said.

Late in the session, trainer Chris Waller’s agent Guy Mulcaster revealed the stable had played down their interest in a $1.2 million colt by Extreme Choice out of Group 2 winner and Group 1 placed mare Dame Giselle who sold nine lots before the end of the day’s trade.

“We’re pretty happy with that colt, he looked sharp and he’s got a beautiful family,” Mulcaster said of the colt sold by The Chase, the breeding arm of China Horse Club.

“We looked at him two days ago with Chris and he said they all run out of that family and that was good enough for me.

“I thought we’d be hard enough to beat and we didn’t let on too much what we were up to, so we probably got him at the right odds.

“He looks like a beautiful horse and let’s hope he’s back here next year (for the Magic Millions 2YO Classic).”

Racing Victoria board member and bloodstock agent Mark Player described Tuesday’s market as above his pre-sale expectations.

Along with business partner Rob Roulson, Player went to $875,000 for an I Am Invincible half-brother to Caulfield Guineas winner Golden Mile and $425,000 for a Justify colt on day one of the Magic Millions for their long-standing syndicate, underscoring the depth of the market at the higher end.

“I’m honestly surprised at the strength of the sale. I think the horses have been selling extremely well,” said Player. 

“That said, vendors are meeting the market as well, there doesn’t seem to be many going through the ring and passing in. 

“So, full credit to Magic Millions and the whole team and to the Australian industry for being able to produce such a wonderful product that is in demand in the auditorium.”

Newgate Farm’s Henry Field, who is acting as a buyer and vendor on the Gold Coast this week, echoed Player’s assessment of the market.

“I think the market is very strong. There’s good depth at all levels. I don’t think it’ll slow down. There’s so many people here,” he said.

Day two will start at 10am (AEST).

Sale statistics

(2025 day 1 in brackets)

Lots Catalogued: 210 (240) 

Lots Sold: 145 (162) 

Lots Passed In: 40 (55)  

Lots Withdrawn: 25 (22)  

Sale Gross: $41,285 ($45,125,000)  

Top Price: $2 million ($1.8 million)  

Average Price: $284,724 ($278,549)  

Median Price: $200,000 ($200,000)  

Sold: 78 per cent (75 per cent)