Karuta Queen: a half-brother to the recent Magic Millions 2yo Classic winner sold for A$230,000 at Perth on FridayPICTURE: goldcircle.com.au/Peter Bull
Clearance rate drops to 67 per cent at Perth
AN Elusive Quality colt led the way during a final buoyant session of the Magic Millions Perth Yearling Sale in Australia on Friday, selling for A$240,000 (£150,322/€177,595) to become the most expensive horse sold during the three-day auction.
The top price surpassed that of A$230,000 recorded at last year's renewal while the final averagegave cause for celebration, rising eight per cent to A$44,669 (£27,978/€33,054). That, however, was aided by a fewer number of horses sold - the clearance rate dropped to 67 per cent and in turn, the aggregate fell nearly ten per cent to A$12,060,500.
Local trainer Darren McAuliffe snapped up the session-topping Elusive Quality colt, who is out of smart Australian juvenile Born Priceless and was offered by Yarradale Stud.
"He's a lovely colt," said McAuliffe, who signed the ticket as Impressive Racing. "I looked after his mum when I was working as a strapper with Lou Luciani.
"Of all her progeny so far this guy is probably the closest to her."
While pleased with how the top end of the market held up, Magic Millions managing director David Chester was disappointed with the clearance rate.
"As has happened at all auctions around Australasia this year the quality lots proved popular and sold accordingly," Chester said.
"The lower end of the market was tough and we obviously would have liked the clearance rate of 67 per cent to be higher.
"The economy hasn'thelped - particularly the high Australian dollar. We had lower levels of visitors and trade from abroad - although we still had buyers from Malaysia, Singapore and South Africa.
"Buyers, as we expected, were very selective and this has become the norm around the region over recent years."
A son of Show A Heart was another popular offering, selling to the sale's leading buyer Damon Gabedy of Belmont Bloodstock for A$230,000.
The colt isthe beneficiary of a recent notable family update as a half-brother to unbeaten two-year-old Karuta Queen, already the winner of A$1.4 million in earnings thanks primarily to her victory in the the Magic Millions 2yo Classic last time out.