Total trade at the Magic Millions Gold Coast Yearling Sale has fallen by more than $22 million as vendors selling in the secondary section felt the pinch the most as a more restrained buying bench hurt overall turnover.
The season-opening sale, punctuated by a dramatic 11 days involving the associated Magic Millions race meetings at the adjacent racetrack, generated more than $217 million, a decline of nine per cent year-on-year.
Magic Millions managing director Barry Bowditch, however, believes the January sale will be seen as successful upon reflection come June when the season is over.
“I think as the year goes on it’ll be seen as a great outcome for the breeders. I thought it was a really positive week from the point of view that there were a lot of people here, there were a lot of people trying to participate, and it held together very, very well,” Bowditch said.
“Book 2, on the other hand, I thought was a decent sale. I thought we could have cleared a few more (horses). There's probably a little bit less participation than what we would have anticipated, especially probably from the Queenslanders.”
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The 1021-lot Book 1 catalogue contributed $206.6 million to the overall gross of the sale while Book 2 was tough going for many of the vendors, with $10.67 million changing hands, $4 million down on 2024.
Monday’s top lot was a $185,000 So You Think-Marjoram colt who was bought by R S Bloodstock and agents Catheryne Bruggeman and Paul Moroney.
As it turned out, Moroney and Bruggeman’s Victorian client had identified the Goodwood Farm-consigned colt off photos and videos and their opinion was backed up by the agents upon inspection.
“He's so much like his dad. He's a great moving horse. He has everything that we try to find in those Sadler's Wells-line horses,” Moroney said.
“The High Chaparral walk we call it and there's so much of that about this horse. He's sleek, he walks over the ground, he's so light on his feet.
“He just has a head movement that goes forward and just takes everything with him.”
Moroney also bought the colt’s dam Marjoram, a half-sister to British Listed winner Martlet, for 15,000 guineas (A$31,176) out of the UK in 2021 for another client.
Meanwhile, Craig Rounsefell’s Boomer Bloodstock and Kiwi agent Paul Beamish combined on a $160,000 Spirit Of Boom-Foxarelli filly who will be placed in the care of premier Brisbane trainer Tony Gollan.
“I'm a big fan of Spirit of Boom, I have been for a long time, but just purely on type, we went through, looked at everything and she was the one we settled on,” Rounsefell said.
“There's great prize money up here, especially for the fillies, so we have put a little group together.
“Paul Beamish also loved her, so we just joined forces rather than bidding against each other and Tony was going to try and buy her, too. I spoke to him this morning and he had a client that was keen to go in.”
A Spirit Of Boom filly sold for $170,000 to First Light Racing on Sunday who will also be trained by Gollan.
Rounsefell also acts for the Hong Kong Jockey Club, which bought five colts in Book 1 from $100,000 up to $425,000.
They will be educated at Limitless Lodge by Tim Boland and sold at the Hong Kong International Sale.
“We found the market a bit on the softer side actually for the horses that suited us,” Rounsefell said.
“Obviously, the horses we're buying, they’re extremely clean (on veterinary examination) and they’re by proven stallions and types that get through our system that are going to be later maturing geldings for Hong Kong.
"So, as opposed to previous years, we found the market to be great buying. We also picked up a filly for an American client that will race here.
“But, on the whole, I think that the horses that were the right types and the right pedigrees definitely made their money.”
Tim Rowe
The changing commercial bloodstock market dynamics will affect the way Rounsefell makes mating recommendations during the autumn for his breeder clients.
“But, ultimately, the long-term success of farms and breeders is on the racetrack, not in the sale ring,” he said.
“They still have to be commercial to stay in the business, so that has to be a factor. In saying that, I will analyse the sale, we'll go through it, but the fundamentals can't change when you've got to breed for the racetrack because that's where your future success lies.”
The Magic Millions race day was postponed after three races last Saturday due to heavy rain, a week after the Sunlight card was transferred to the Sunshine Coast due to a poisoned section of the Gold Coast track, with the remaining seven races worth $12.5 million in prize money to be conducted on Friday evening.
Inspections for the New Zealand Bloodstock Karaka Yearling Sale will start next Monday at the Auckland sales complex.
