Economic slump catches
up at Magic Millions
THE predicted retreat arrived on day two of the Magic Millions Yearling Sale on the Queensland Gold Coast on Thursday with prices sliding in line with worldwide trends.
On a day when none of the 141 yearlings offered fetched seven figures, it was left to one of the legends of Australian racing and one of the country's brightest young trainers to set the standard.
Colt from family of Last Tycoon tops day two
Top price for the day was paid by Newcastle-based trainer Kris Lees who halted the bidding on Lot 262, a bay colt by Redoute's Choice out of the Irish-bred daughter of Warning, Bal Des Sirenes, at A$620,000 (€320,000 /£288,836).
Lees, who trains Australia's champion three-year-old filly Samantha Miss, has been one of the sales' high-rollers, giving so far A$1.35 million (€696,928 / £628,688) for three yearlings.
His top-priced purchase is a three-quarters sister to the outstanding Danehill colt Britt's Best and is from the family of Breeders' Cup Mile winner and successful stallion LastTycoon, the high-class Australian galloper Zipping and Poule d'Essai des Pouliche winner Valentine Waltz. Britt's Best was trained by Lees' late father Max.
"He's a very athletic colt," said Lees. "He's got a real chance. I don't think it was a lot of money to buy him - he's an exciting prospect."
Figures for two sessions fall from 2008
As suggested on Wednesday by Magic Millions managing director David Chester, the sale average slipped on day two due largely to the majority of high-priced lots being offerings on day one.
Despite opening the session's average finishing on a par with the results from 2008, after the first two sessions, during which 274 horses were offered, the average has dropped from the A$150,420 (€77,734 / £70, 046) acheived in 2008 to A$137,650 (€71,118 / £64,000), a fall of eight per cent. However, so far the market isstill faring better than some of the 2008 yearling sales in Europe.
Read more in Friday's Racing Post....