3 minute read

Bowditch pays tribute to his team after tough couple of weeks.

At the conclusion of trade of Book 2 of the Magic Millions National Yearling Sale, the auction house reported 110 lots had sold for a total of $1,348,000, with the clearance rate sitting at 78 per cent. 

The average of $12,255 was up on the 2019 edition, while the median of $7,000 was marginally down, when 180 lots had sold for $1,360,500 with the average sitting at $11,152 and median of $7,750, with two more lots offered in 2020. 

Meanwhile, the National Racehorse Sale (excluding Estate of the late Eduardo Cojuangco) saw 17 lots sell for an aggregate $832,500, while the average of $59,464 and median of $60,000  were both up on the 2019 figures. 

In 2019, 36 racehorses were offered for an aggregate of $943,000, while the median sat at $17,500 and the average was recorded as $32,517.

Magic Millions managing director Barry Bowditch hailed the National Sale as an "extraordinary" week of trade, considering the tough economic climate. 

"To achieve well over $80 million for the stock we had and to be clearing well over three quarters of what we offered is a phenomenal effort in the current climate," said Bowditch. 

"A lot of people went to extraordinary lengths to attend – having to make many sacrifices and also adhering to changing conditions.

"This sale was for the participants of the industry and they got in behind it and met the market and the buyers were here and they were very motivated to play and I think that is evident. It has been an extraordinary sale from start to finish."

Bowditch was also keen to heap praise on the team at Magic Millions for weathering the tough conditions. 

"To the team at Magic Millions, to put a plan in place to hold this sale and I have never been more proud of them. I think it justifies what this team can pull off and I think this has been quite extraordinary.

"I also think that being here at Magic Millions provides the best of both worlds, you have the online audience, but you also have the live auction audience – to be able to do both of them in one go, can only add to the sales outcomes."

Book 2 Yearlings
         2020     2019
Catalogued: 178 (-1%) 180
Sold: 118 (78%) 122 (79%)
Average: $12,255 (+9%) $11,152
Median: $7,000 (-9%) $7,750
Aggregate: $1,348,000 (-0.9%) $1,360,500

National Racehorses (excluding Estate of the late Eduardo Cojuangco)
         2020     2019
Catalogued: 17 (-52%) 36
Sold: 14 (100%) 29  (90%)
Average: $59,464 (+82%) $32,517
Median: $60,000 (+242%) $17,500
Aggregate: $832,500 (-11%) $943,000