Spywire will put his Magic Millions credentials to the test at Eagle Farm this Saturday, in the process trying to justify a quote seldom seen in two-year-old racing.

The Ciaron Maher and David Eustace-trained speedster will be out to make it two wins from as many starts in the $200,000 Listed Phelan Ready Stakes.

The son of Trapeze Artist was as short as $1.10 in some markets following Thursday morning's scratchings of Boomroux and Invading Jilly, which has reduced the field to five, and Eustace was not shocked to see the colt a hot favourite.

"He's obviously a nice colt, he's been impressive all the way through really and he finds a race without a lot of depth," Eustace said.

"I see he's come up a very short price, which you can sort of understand to an extent."

Only a handful of youngsters have started shorter than Spywire's Thursday afternoon quote in a metropolitan 2YO race in the past 30 years with the most prohibitive being $1.04, shared by Victory Dash in the 1995 Listed Ascot Stakes in Perth and General Nediym in a 2YO handicap at Eagle Farm on Boxing Day 1996.

That was General Nediym's final start before winning the Magic Millions 2YO Classic, the race Maher and Eustace have in mind for Spywire.

Eustace declared the $520,000 Gold Coast Yearling Sale purchase one of the stable's standout juveniles and their leading contender for the $3 million race at the Gold Coast on January 13.

"He would be our top seed for Magic Millions," Eustace said.

"They (two-year-olds) have all had a few preps and some are more forward than others, but I think he's probably the most natural."

The Phelan Ready Stakes is one of two key lead-ups to the Magic Millions 2YO Classic being run at Eagle Farm this Saturday with the fillies to go around in the $200,000 Listed Calaway Gal Stakes (1000m).