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Magic Millions managing director Barry Bowditch was pleased with the days trade.

Magic Millions managing director Barry Bowditch was pleased with the days trade and believes there is a lot to look forward to over the next three days of selling at Book 1. 

At the close of trade the auction house reported that 203 lots sold for an aggregate of $48,565,000 at an average of $239,236, while the median was $180,000. The average for Book 1 in 2019 was $237,309 whilst the median sat at $170,000 and a clearance rate of 89 per cent was achieved. 

"It picked up as the day went on, as we predicted," said Bowditch. "It started off a little rough around the edges, but as things went on, it got momentum. It got depth and it got a lot of strength. All in all, having an 83 per cent clearance rate, and a solid average and gross, I think the sale is in good shape for the next three days.

"A lot of horses made much more than their reserves. There was plenty of bidding going on, there was plenty of depth in that middle market here. To have more horses make over half a million than we had last year on Day 1 is a great start to the week.

"That's the bread and butter for the breeders and that's where we need to make sure we have the market set. It was very deep and very strong," he continued. 

"In saying that, I think there was value at all levels. If you look through all the results, there was horses making $50,000, $70,000, $150,000. That wasn't bad buying, The guys that are doing the work are finding value along the way."

Bowditch also said he was impressed with the way the first-season sires had been received and that the results reflected the buyers confidence in this new crop of young sires. 

"Very strong day for the first season horses," said Bowditch. "I was delighted to see the American Pharoah's sell to the level they did. It's great to have a horse of his calibre in Australia, Obviously Capitalist being one of our own, a huge start from him as well.

"The catalogue is very even each day. There is not a day which is much stronger than any other, I thought the colts market was particularly buoyant. I think there is some great fillies and colts to go. What I liked about the sale today was the spread of buyers. There weren't one or two buyers dominating the market, everyone was getting in and getting a turn. 

"You would think those guys and those who haven't hit the boards yet have got plenty more horses that they will be willing to pick up."