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Eleven yearlings have fetched upwards of $1 million on the first day of the Easter Yearling Sale in Sydney.

A colt by champion sire Snitzel out of the speedy Ichihara heads the leader board at the Inglis Easter Yearling Sale in Sydney, fetching $2,8 million on the first day.

He was consigned by Corumbene Stud which owns his three-quarter brother Menari and bought by James Harron Bloodstock.

His price tag makes him the highest-priced yearling sold at auction in Australia this year and the most expensive by champion stallion Snitzel.

He will be trained by Peter and Paul Snowden .

"He's a very special horse," Harron told Sky Racing.

"He's probably the best yearling I've seen for a very long time.

"He's got a beautiful pedigree, a beautiful physique and a temperament to match."

Among the other 10 million dollar babies on Tuesday was a colt by Deep Impact who was bought by Melbourne trainer Lloyd Kennewell  in partnership with Spendthrift Farm.

The colt's dam Grito is a half sister to Sung, the dam of Saturday's Sires' Produce Stakes winner Microphone.

Aquis Farm went to $2.3 million for the brother to Coolmore Stud Stakes and Royal Ascot Diamond Jubilee Stakes winner Merchant Navy.

Ciaron Maher , who trained Merchant Navy  before he went to Ireland, will prepare his brother in partnership with David Eustace.

Of the 11 most expensive yearlings on the opening day, eight were colts and three were fillies.