Less volume, more competition as Magic Millions backs its Book 1 strategy

Magic Millions managing director Barry Bowditch cut a satisfied man after the hammer came down on the final Book 1 Lot at the company’s Gold Coast Yearling Sale on Friday, believing trade backed up his pre-auction optimism.

While Magic Millions elected to condense its Book 1 catalogue, cutting 40 yearlings compared to last year, it still managed to break the $200 million turnover barrier for the fifth year in succession.

Albeit, the $202 million figure is the lowest in a five-year period where the mark has been eclipsed and down $26 million on the pandemic-driven peaks of 2022 and 2023 when $228 million was traded at the January sale.

Bowditch felt vindicated by the decision to sacrifice turnover in place of boosting buyer competition, which led to increases in average to $274,508 and a clearance rate of 85 per cent.

The median was steady for the four days of trade at $200,000, the same amount as 2025.

Bowditch was delighted with the figures achieved from the Book 1 sale.

“Two hundred million was a real goal. To have 40 less horses catalogued and 20-plus more withdrawals, and some significant withdrawals among them, it was pleasing to get close to last year’s gross,” Bowditch said. 

“To increase the clearance rate, which is nudging towards 86 per cent and an average that is up on last year (is pleasing).

“I think all the key numbers leading in are reflective of what we believed was a strong catalogue.”

As always, there’s differing opinions depending on individual vendors’ results, but overall sentiment has to be seen as a positive sign for the overall market in 2026.

Of the 15 seven-figure yearlings sold across the four days, which were headed by the $2 million paid respectively for sons of Frankel and Extreme Choice earlier in the week, Chris Waller will train no fewer than six of them, including Friday’s $1.5 million top lot.

The session-topping Snitzel colt is out of Vangelic, a Group 2 winner and Group 1-placed mare by Vancouver who Coolmore bought at the end of her racing career for $1.5 million in 2023.

The colt is by the same sire as his Group 1-winning colts Shinzo and Switzerland.

“He looked really sharp and he did really well through the prep,” Waller’s agent Guy Mulcaster said.

“I think what we paid for him is pretty well on the mark. It is a hell of a lot of money but that’s what they seem to cost and when you get good colts that will turn to stud, they look cheap.”

“When they don’t (they’re expensive), so whatever will be will be.” 

In its 40th year since the inaugural Magic Millions sale was conducted in 1986, and 39 years since Snippets won the first 2YO Classic, the sales company pushed hard to attract buyers from around Australasia and the northern hemisphere.

“We worked hard to get the best buying bench we could. There were a lot of traders here and a good, diverse bunch from regional areas – Western Australia, South Australia, Queensland was great, the New Zealanders and through Asia were fantastic,” Bowditch said.

“It was a diverse buying bench but we really ensured that we marketed the sale so that people would come up here and have a great selection of horses within all budgets.

“With the clearance race, kudos to vendors meeting the market. What pleased me was the spread of buyers.

“There is a great thirst for the Magic Millions product.”

The Magic Millions action will be trackside on Saturday with a 10-race card at the Gold Coast highlighted by the $3 million Magic Millions 2YO Classic and 3YO Guineas.

The one-day Book 2 sale will start at 12pm (AEST) on Sunday.

Seven vendors grossed $10 million or more, headed by Arrowfield Stud ($15.195 million), Coolmore ($13.7 million) and Newgate Farm ($13.2 million), while 45 individual buyers spent more than $1 million across the four days.

Sale statistics 

*2025 in brackets

Lots Catalogued: 980 (1021) 

Lots Sold: 737 (754) 

Lots Passed In: 125 (172)  

Lots Withdrawn: 118 (95)

Top Price: $2 million ($3,200,000) 

Sale Gross: $202,312,500 ($205,470,000) 

Average Price: $274,508 ($272,507) 

Median Price: $200,000 ($200,000) 

Sold %: 85 (81.4)