Magic Millions Book 2 opens with declines
BOOK 2 of the Conrad Jupiters Magic Millions Yearling Sale in Australia showed signs of succumbing to the economic downturn when its opening session, the sixth of the sale so far, ended with decreases in figures across the board today.
Some 147 yearlings were sold for an aggregate of A$3,252,000 (down 39 per cent from A$5,322,500 in the same sessionin 2008) at an average of A$22,122 (down 26 per cent from A$30,071 last year). The clearance rate remained steady at 71 per cent.
The day's most expensive price was A$105,000, paid by trainer Kelly Schweida for a Flying Spur colt fromthe draft of Racetree. Last year's top lot at this session was an Exced And Excel colt who cost A$210,000.
"It was a real buyers' day today," Magic Millions managing director David Chester said. "The value wassecond to none."
"We had buyers from all around the country and also a few from overseas. They all reported what great value their purchases were. There's no doubt they will be back again at these similar sessions of the sale next year."
But he also expressed some disappointment with the strength of the market, adding: "Today's session was probably the first of the sale that I thought was affected by the economic downturn. The buyers were very choosy. It was hard work, but in the end it was a pretty good day."
The seventh and final session of the Magic Millions Yearling Sale takes place in Australia tomorrow.