First Day of Magic Millions Sale Rings up Record Sums
If you want to do a little buying at the magic Millions Sale, you had best take a big haul of cash with you, as the sales figures for the first day indicate that young thoroughbred talent is commanding a premium this year compared to last.
The auction was generating substantial growth figures, up by 12 percent compared to the first session last year.
That growth equates to an average of $215,220 per lot, whereas last year the average was $192,016.
This, despite the absence of deep-pocketed buyers, such as the Hong Kong Jockey Club and Shadwell Stud.
Magic Millions auction house managing director Vin Cox was quite pleased, saying, “Of course we’re happy, you have to be with figures like that. Of course we’d rather have buyers like the Hong Kong Jockey Club and Shadwell here but that’s the nature of the business. The strength of the market showed up and we finished the session strongly.”
The auction got off strongly, too, before encountering a flat spot during the middle of the session, something that came as no surprise to Cox and his team. “After the way the catalogue fell we thought we might hit a bit of a flat spot but the way the sale finished off certainly bodes well for the rest of the week,” Cox said.“For instance the top price on the first session last year was $900,000 and we’ve managed a $1 million sale on day one so I think most vendors will be happy.”
Trainer John O’Shea was pleased to get the latest colt by Fastnet Rock, which went to Coolmore Stud near the closing of the first day. The colt is out of Risk Aversion.
O’Shea has had previous Group 1 success with Foxwedge, another Fastnet Rock progeny that won the William Reid Stakes in 2012 and raced against Black Caviar in the Group 1 Lightning Stakes.