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Magic Millions Adelaide Yearling Sale draws to a close on Wednesday

At the close of trade Magic Millions reported that the average was $38,533, down from the $39,611 it was 12 months ago, while the median finished at $30,000 up $2,000 on the 2019 renewal. 

McEvoy Mitchell Racing and Belmont Bloodstock Agency finished the sale as leading buyer purchasing six lots for an aggregate $435,000, while Gerry Harvey’s Baramul Stud topped the vendors table selling 24 lots for an aggregate $925,000 at an average of $38,542. The leading vendor by average (with three or more lots sold) was Squillani Park Thoroughbreds, who sold four lots for an average of $87,500.

Meanwhile, the leading sire at the sale by aggregate was Nicconi (Bianconi) who had ten lots sell for $501,000, while Darley’s exciting young stallion Kermadec (Teofilo) lead the way in terms of average (with three or more lots sold) selling three lots for at an average of $100,000. 

Victorian-based buyers were the most active having secured 121 lots during Books 1 and 2 for a total spend of $4,680,000 whilst South Australian-based purchasers spent $3,854,500 on 125 lots. Buyers from Hong Kong, China, Singapore, Japan and South Africa were active at the two day sale. 

As with Tuesday’s session, Magic Millions managing director Barry Bowditch admitted again that there were ‘sticky moments’ describing the market as ‘very selective’. 

“There were a few sticky moments and it was a very selective market, but to have a clearance rate of over 79 per cent in book 1 and a healthy enough average and increase in gross, that’s pleasing enough for us," Bowditch said.

"Buyers came here and they knew what wanted to buy and they had to pass all their criteria to bid and in those cases they bid strong, while a few horses slipped through the cracks."

However, Bowditch said he was happy to see some colts make good money. 

“It’s good to see the pinhook guys here doing their work for the Ready 2 Run Sales later in the year and there has been great participation from them at the sale,” said Bowditch. “I think the colt market for the clean horses was particularly strong. 

“On the right horses there was plenty of activity and good competition all in all those sorts of horses exceeded their reserves by a long way.”