3 minute read

Auction house ‘thrilled’ with results with average up from day one of 2020 sale 

During Tuesday’s opening session 144 of the 168 (86 per cent) lots offered were sold for a total of $35,290,000. The average was $246,783 and the median sat at $170,000. During the opening session of the 2020 sale 203 lots were sold (30 per cent more than on day one this year) for $48,565,000 (up 27 per cent compared to 2020). 

The average was up three per cent this year from $239,236 a year ago, whilst the median this year was down five per cent from $180,000 on day one in 2020. 

Magic Millions managing director Barry Bowditch was understandably pleased with Tuesday’s sale. 

“We are thrilled with how it’s begun in the circumstances and it is something we didn’t expect. But then again when you look at the catalogue we have put together it’s probably something that the vendors deserved,” said Bowditch. 

Waller Racing and Mulcaster Bloodstock finished Tuesday as the leading buyers having spent $3,025,000 on eight lots whilst Tony Fung Investments and Phoenix Thoroughbreds spent $2,245,000 on four yearlings. 

Widden Stud were leading vendor on day one, by both aggregate and average (with three or more lots sold) having had four yearlings sell for $3,395,000 at an average of $848,750 including having sold the only seven figure lot on Tuesday. 

“I think the vendors have to be congratulated they have come here and they have met the market and been very realistic with the reserves and this in turn has given the buyers confidence to get in and give it go,” said Bowditch. 

“It is a very deep buying bench which shows that people have confidence in the sale, which is obviously great for us.” 

“It has set a huge trend for the week and there is obviously a lot of water to go under the bridge with such a huge catalogue, but we couldn’t be happier with how things have begun. 

Arrowfield Stud’s Snitzel (Redoute’s Choice) sits at the head of the leading sires table by average (with 3 or more lots sold) with his seven yearlings sold on Tuesday for $4,400,000 averaging $628,571 while the Yarraman Park-based I Am Invincible (Invincible Spirit) had ten yearlings sell on Monday for $5,405,000 at an average of $540,550.