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Clearance rate improved with Book 1 finishing with an average of $59,075 and median of $40,000
Book 1 of the 2021 Magic Millions National Yearling Sale concluded on Wednesday on the Gold Coast with an improved clearance rate, up almost ten per cent from the day prior, with 237 of the 379 lots offered over the two days sold with the clearance rate up to 65.2 per cent.
The average for Book 1 was $59,075 and median sat at $40,000, with the most expensive lot sold being the Snitzel (Redoute’s Choice) colt bought by Suman Hedge on Tuesday for $500,000. The Arrowfield Stud-based son of Redoute’s Choice (Danehill) finished Book 1 as the leading sire with the six lots by Snitzel selling for $1,290,000 at an average of $215,000.
Six lots sold for $250,000 or more and 17 lots realised $200,000 or more.
Suman Hedge Bloodstock finished Book 1 as the leading buyer having spent $1,000,000 on three lots, while David Ellis and Andrew Williams Bloodstock bought five yearlings for $577,000.
Arrowfield Stud led the way as vendors having sold 17 lots for $1,265,000 at an average of $74,441. Meanwhile, Milburn Creek, who sold the sale topper, led the way by average with the six yearlings they sold grossing $820,000 at an average of $136,667.
“I thought today had a little bit more momentum to it than what yesterday had and the vendors who were willing to meet the market were achieving results and getting their horses sold,” Magic Millions managing director Barry Bowditch said.
“Obviously, this year we’ve sold a lot of yearlings all over Australia and probably more than ever before, so at some stage, given that our (international and Victorian) borders are shut, the market was going to become a little bit more selective and that’s been apparent over the past two days.
“This is not a sale where we ever hit it out of the park from a clearance rate perspective but to have the highest gross for this sale since 2017, a very healthy average and clearly the horses that were well sought after, in most cases, exceeded the vendors’ expectations.”
Book 2 begins on Thursday morning.