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Bowditch says results are a big boost to the Queensland industry

During day one of the Magic Millions Gold Coast March Yearling Sale 160 of the 191 lots offered were sold for $7,545,000 at a clearance rate of 84 per cent. The aggregate was up a massive 109 per cent from the day one figure in 2020 when 124 lots, 30 per cent fewer horses than this year, sold for $3,559,000. The aggregate on Monday was $372,500 short of the 2020 sale aggregate. 

The average this year of $47,156 was up 62 per cent from $29,024 a year ago and the median of $35,000 was up 75 per cent from $20,000 in 2020. Seven lots sold on Monday for more than $150,000 while 21 yearlings made $100,000 or more. 

Last year’s sale was the first in the southern hemisphere to be affected by the COVID-19 pandemic with the 2020 renewal showing a decline compared to 2019 when 300 yearlings sold for $9,956,100 at an average of $33,187 and median of $24,000. Given the circumstances under which the 2020 sale was held, Magic Millions managing director Barry Bowditch said that direct comparisons to the 2020 figures were not really fair however, he noted that Monday’s sale was a fantastic confidence boost for the Queensland industry. 

“Clearly it would be unfair to compare to last year’s sale given the circumstances we were dealt on the eve of that sale,” Magic Millions Managing Director Barry Bowditch said. 

“Today’s sale was a fantastic confidence booster for the Queensland industry and justifiably because of the prize-money and bonuses these horses will race for.”

“We’ve had a great spread of buyers from top to bottom and obviously all our key numbers are pleasing,” Bowditch added.

The majority of spend was unsurprisingly from Queensland-based buyers who spent $5,174,500 on 113 lots, accounting for 69 per cent of turnover.