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Across the board gains at Magic Millions Adelaide

MAGIC MILLIONS acting managing director David Chester hailed “a great day’s selling” after the opening session of the company’s Adelaide yearling sale at Morphettville recorded major across-the-board gains on Tuesday.

A total of 164 yearlings were sold at an average price of A$34,570 (£21,360, €24,550) - up almost 30 per cent on last year's figure of A$26,792.

The turnover of A$5,669,500 (£3,505,200, €4,027,350) was up by 65 per cent on last year’s gross of A$3,670,500. The clearance rate of over 81 per cent bettered  last year's rate of 76 per cent.


A More Than Ready colt topped the opening session when purchased by leading local horseman Phillip Stokes for A$210,000 (£130,000, €150,000).

He was one of four yearlings to sell for over A$100,000 - the others were colts by Stratum (A$140,000), Churchill Downs (A$125,000) and Testa Rossa (A$110,000).

"To have the gross rise 65 percent and the average 30 per cent is great for everyone concerned," Chester said.

"We had buyers from Malaysia, China, Macau and New Zealand - but without doubt the biggest impact came from our large contingent of buyers from Singapore.

"Our Singapore representative Wade Burridge worked hard in assembling a brilliant buying bench from Singapore and they snapped up a great line up of yearlings.

"It was also encouraging to see local buyers well represented - led by Phillip Stokes who purchased five yearlings including the sale-topper."

The second session of the sale takes place on Wednesday.

 

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