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Record-breaking Magic Millions Adelaide Sale enjoyed increases across the board
At the close of trade of Book 1 on Wednesday, Magic Millions reported 262 lots sold at a clearance of 88 per cent, compared with last year where 286 lots sold at clearance of 79 per cent. The aggregate was $14,090,000, a 27 per cent rise on $11,020,500 12 months ago with 9 per cent fewer horses sold this year. The average was up a healthy 39 per cent on 12 months ago, sitting at $53,779 compared with the $38,533 for Book 1 last year, while the median was $37,250 up 24 per cent on $30,000 recorded at Book 1 12 months ago.
Magic Millions Bloodstock consultant for South Australia Adrian Hancock told Racing & Sports Bloodstock the sale’s success had very much been underpinned by the current healthy state of the South Australian industry.
“It was a record-breaking sale in every respect,” said Hancock. “We were hoping for a strong sale and indications pre-sale was that it was going to be strong and we had a very good bunch of horses overall, which were up on previous years and the buyers reacted to that - it was a massive result.”
As with many people this week, Hancock links the strength of the market with the recent $2.6 million injection of prize-money in the state and was buoyed to see many vendors bring their best horses to the sale.
“There is a lot of confidence here at the moment with the announcements that have been made about prize-money and the government are supporting the bonus schemes and they are right behind what racing is doing,” he said.
“The South Australian buyers themselves have spent over $5 million, I don’t think I have ever seen that happen. Buyers are happy and the breeders are ecstatic - everyone is really on a high and delighted with the result - there really is great optimism around the state.
“This sale will continue to grow as long as the investments into racing here in the state continue to happen.
“I think the fact that vendors have had the confidence to bring their best horses to this sale is really pleasing for me personally and I have been preaching this for a while, thay you don’t have to travel all your horses interstate. We have shown that if you bring a good horse here the buyers find them and they don’t let them slip under the radar.
“It really has been the best and most diverse buying bench I have ever seen. They have flown in from all states in Australia, they flew in from the last minute and they have done all the hard work and they kept seeing nice horses which always put people in a positive frame of mind about a sale.”
Gains were seen in all levels of the market with the biggest percentage change coming in the top ten per cent where the average rose from $111,607 a year ago to $184,808 this year, an increase of 66 per cent. The next biggest increase was seen in the bottom ten per cent of the market which was up 42 per cent from $6,054 to $8,596.
For colts, the largest gain also came in the top of the market with an increase of 49 per cent from $123,750 in 2020 to $184,286 however, this bracket of the fillies market was up a staggering 106 per cent to $192,273 from $93,542 in 2020.
In terms of buyer location, once again Victorian-based buyers led the way, purchasing 90 lots for an aggregate of $5,652,000 which equates to a market share of 40.11 per cent, a 2.38 per cent rise on last year, when they paid $4,194,000 for 102 at a market share value of 37.73 per cent.
Purchasers from South Australia increased their spend by 41 per cent in 2021, with buyers from the state spending $4,639,000 on 101 yearlings, equating to 32.92 per cent of the market share, compared with 12 months ago where they made up 29.44 per cent of the market when they purchased 87 yearlings for $3,273,000.
Capitalist enjoyed a lucrative few days in the ring and he finished Book 1 as the leading sire by both aggregate and average (with three or more lots sold), with four of his yearlings selling for a gross of $805,000 at an average of $201,250, a profitability rating of 2.5.
The most profitable stallion at the two-day sale was the Sun Stud-based sire Palentino (Teofilo), who had four yearlings sell for an aggregate of $457,000 at an average of $114,250 off a service fee of $17,600 (inc GST), which meant he recorded a profitability rating of 2.7.
Meanwhile, the most profitable first-season sire was the Arrowfield Stud-based sire Pariah (Redoute’s Choice), who had five lots sell for a gross of $457,000 at an average of $91,400 for profitability of 1.9.
The leading buyer at the close of Book 1 was Will Clarken, Suman Hedge and David Jolly after they teamed up to buy eight lots for a total outlay of $751,000, while Tony Fung Investments and Annabel Neasham Racing were second, having spent a record-breaking $525,000 on a colt by Fastnet Rock (Danehill) on Tuesday.
Cornerstone Stud finished Book 1 as the leading vendors by aggregate, selling 20 yearlings for a total of $1,395,500 at an average of $69,775, while Goldin Farms rounded off the two-day sale as the leading vendors by average (with three or more lots sold), having sold seven yearlings for total receipts of $1,199,000 at an average of $171,286.
Book 2 on Tuesday saw 55 of the 65 lots offered sold for $1,042,500 at an average of $18,955 and median of $17,000. The top price of $100,000 came for Lot 405, a filly by Super One (I Am Invincible) who sold from the draft of A List Stud to Rui Severino.
