Western Australia’s remoteness could be described as splendid isolation.
For the state’s thoroughbred racing and breeding industries, the Nullabor provides a buffer to the east coast giants, both equine and horse trainers, and plays to the local participants’ fierce loyalty to their “own”.
And again that was evident at the Book 1 Magic Millions Perth Yearling Sale on Thursday, a 190-lot session that facilitated $13.26 million in trade, $3.1 million of which was generated for the progeny of WA’s premier stallion, Playing God.
It was Perth-based automotive industry entrepreneur Idan Young who paid $450,000 for a colt “who floats” by the champion sire and eventual Magic Millions sales topper, a yearling set to be trained by Dan Morton.
The willingness by owners such as Young to support the local breeders with such financial strength is underpinned by the lucrative Westspeed Platinum bonus scheme reserved for WA-bred horses.
It’s another pivotal factor in explaining the loyalty of owners and trainers to the annual Perth sale held each February.
“WA racing is exceptional when you look at the prize money you can win on a Saturday, (although) he's got to win five races to get our money back at $90,000 a pop, but you can go and buy one in Sydney for $700,000, $800,000, $900,000, a million and you're only racing for a $100,000 for the winner in a Midway,” Young said.
“WA racing, for someone like me, I've got a younger son and I've got mates going into it, you don't have to compete with a Waller or the Mahers or the Busuttin and Youngs.
“The trainers here are more than capable, but I think everybody who stumps up a bit of money has a fair opportunity to be successful.”
Champion trainer Neville Parnham, one of the beneficiaries of the local racing industry, also reinvested in the progeny of his Group 1 winner Playing God, buying three in succession by his sire as well as paying $400,000 for a Zoustar colt.
Leading trainers Grant and Alana Williams paid $200,000 for a filly by Widden Victoria’s emerging sire Doubtland, who has had three first crop two-year-old winners from four runners.
Despite taking home the Doubtland filly, who was consigned by Price Thoroughbreds, the Williamses and their agent Suman Hedge found Book 1 to be a highly competitive market.
That is backed up by the fact that there were 79 different buyers on day one, more than last year’s record session, with 45 yearlings selling for $100,000 or more.
“The horses we've been looking at have been going for double what we were prepared to pay. So, it hasn't been that easy,” Grant Williams said.
It's been good for the sellers, not good for the buyers. We've got an open day on Sunday, and I'm worried about not having enough horses to be able to sell on that day.”
Another successful Perth training partnership, brothers Ben and Dan Pearce, upped the budget for an eye-catching grey colt by Playing God, the sire of the stable’s WATC Derby placegetter Lord Vampi who was subsequently sold to Hong Kong.
The siblings paid $400,000 for the Yarradale Stud-bred and sold colt, whose sire;s offspring contributed more than $3 million to the day’s trade.
Reaction from the Pearces clients after the colt was knocked down to them was almost instantaneous.
“A few emails are coming through straight away, so that's always a good sign. Hopefully by the end of the day we can have a fair chunk done,” Ben Pearce said.
“The good horses are selling really well and you can't train horses if you don't have them.”
Staff Writer
Magic Millions WA manager David Houston says the tyranny of distance plays into the hands of the local racing industry.
“Perth is the most isolated city in the whole world, so we are our own country, we make our own rules,” Houston says.
“We have in the past, as you've seen (in closing the state border during Covid), but I think our racing here is strong because the Nullarbor actually divides us off.
“We just have our own pool of horses.”
Book 2 of the sale starts at 10am local time.
Magic Millions Perth Yearling Sale statistics - Book 1
Lots Catalogued: 190 (192)
Lots Sold: 149 (143)
Lots Passed In: 28 (37)
Lots Withdrawn: 13 (12)
Sale Gross: $13,263,500 ($14,182,500)
Top Price: $450,000 ($625,000)
Average Price: 89,017 ($99,178)
Median Price: $70,000 ($80,000)
Sold %: (84) (79)
*2024 statistics in brackets
