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Tony Fung Investments secure weanling colt for $625,000 at Magic Millions.
The buoyant weanling market underpinned by end-users picked up even more pace on the second and final day of the Magic Millions National Weanling, with Tony Fung Investments paying $625,000 for a colt by I Am Invincible (Invincible Spirit) on Friday.
Catalogued as Lot 339 and offered by Kitchwin Hills, the colt is the first foal out of 2018 WW Cockram Stakes (Gr 3, 1200m) mare Ellicazoom (Testa Rossa), who finished third behind Sunlight (Zoustar) in the William Reid Stakes (Gr 1, 1200m) in 2019.
Ellicazoom was purchased by Kitchwin Hills for $420,000 at the Magic Millions Perth Winter Mixed Sale and was most recently purchased by Phoenix Thoroughbreds for $800,000 at the 2019 edition of the Magic Millions National Broodmare Sale.
The mare herself is a daughter of Group 1 winner Ellicorsam (Fimiston), making her a half-sister to Listed-placed El Doute (Redoute's Choice).
Further back this is the same family as Group 2-placed Soul Patch (Shamus Award) - who now stands at Rangal Park.
Kitchwin Hills' Mick Malone told Racing & Sports Bloodstock, that given the robust market, he had expected the colt to make that sort of price-tag.
"We thought he would make around $500,000 and if he made that I would have made that, I would have been a little bit disappointed, but $500,000 is still a lot of money for us," said Malone.
"The market has been very buoyant and strong. There are people here buying weanlings as racehorses, which is actually quite smart when you think about it, because when you get to the yearlings sales, you can't afford it.
"A colt as good as he was, making good genuine money was great. He was beautiful. He is strong, has substance and has bone. He has a good action and moves really well and just had it all. He looks like a colt who will go into work and will be an early two-year-old."
Kitchwin Hills sold 12 weanlings for an aggregate $1,683,000 at an average of $140,250.
Fung's racing bloodstock advisor Shane McGrath, who signed the docket for the colt, said if the colt turned out to be top-class the $625,000 price-tag will look good value.
"Being a first foal, we really liked him, he had plenty of size and scope," McGrath said.
"She (Elicazoom) was a very good race mare, she probably could've won the William Reid and been a Group 1 winner.
"He comes off a great farm, we've had a bit of luck buying horses off Kitchwin, they do a great job and he was very well presented.
"It's a lot of money for any horse, you can basically buy a house for that sort of money, but if he's good, he's really good, so it's risk and reward."
Tony Fung Investments purchased three weanlings for a gross of $1,385,000 at an average of $461,667.
I Am Invincible finished the sale as the leading sire by average (with three or more lots sold), selling seven weanlings for an aggregate of $3,450,000 at an average of $492,857.
