Magic Millions remains committed to the breeze-up sale format, ensuring there will be three-way competition across Australasia in the years to come, despite a year-on-year decline in key metrics at its Horses in Training Sale on Thursday.
The first of the three two-year-old sales to be conducted in Australasia this year, saw seven horses sell for $200,000 or more and 21 horses fetch more than $100,000.
Magic Millions managing director Barry Bowditch was “satisfied” with Thursday’s sale, which turned over $6.62 million at an average of $71,957 at a clearance rate of 66 per cent.
“I think for the right horse that walked in the ring, that breezed well, that looked the part, that vetted the part, there was good interest. I think we sold more horses for six figures than we did last year,” Bowditch said.
“The average is comparable to last year, the clearance rate's comparable, and the gross is slightly down.”
Last year’s sale grossed $7.7 million with an average of $75,961.
“Queensland (as a buying bench) was very good, as it should be, and … we had an increased spend and increased number of horses sold to Hong Kong,” Bowdtich added.
“We had a good number sold to China, Malaysia, the Philippines, and other jurisdictions in Asia. So, all in all, I'm pleased with the result, and I think it gives us impetus to go out there and find better product for next year.”
Magic Millions owner Gerry Harvey, who operates Baramul Stud, sold the day’s top-priced horse, a $550,000 I Am Invincible colt out of a sister to Russian Revolution and closely related to Home Affairs, as well as a $360,000 son of Snitzel.
Mel O’Gorman, who trains at Tamworth, also sold a Wootton Bassett colt for $400,000 to owner Wayne Ormond.
The colt, whose sire died suddenly recently at Coolmore Australia aged 17, had been bought by Murray Bridge trainer Michael Hickmott and John O’Neill for $160,000 at the Magic Millions Adelaide Yearling Sale in March.
Gold Coast-based father and son trainers Bevan and Richard Laming bought the sale-topping I Am Invincible colt, who will enjoy a six-week break before going into work, proving too strong for rival trainer Paul Shailer who underbid the two-year-old.
“I watched him breeze up and looking at him as an individual, he's certainly going to get up and go and there's good reports from the people who've prepared him as well, which also helps,” Richard Laming said.
