Records have been broken for the second time in just 24 hours at the Magic Millions Yearling sale on the Gold Coast.
abc.net.au/news/why-the-racing-industry-is-throwing-millions-at-young-horses/101851366Records have been broken for the second time in just 24 hours at the Magic Millions Yearling sale on the Gold Coast with a colt selling for $2.7 million.Stud owners and partners stand to earn millions after huge outlayThe sale's fifteen-year record of $2.2 million had first fallen on Wednesday afternoon.
It's a combination of breeding pedigree, the horses' conformation and a little faith, says general manager of Hunter Valley's Segenhoe Stud Peter O'Brien, which sold the multi-million-dollar colt to Coolmore Australia."I know it seems a lot, $2.7-million for a horse, but the risk-reward can be huge," Mr O'Brien said.In this case, it's stallion I Am Invincible and mare Anaheed.Their colt, lot 606, was the first foal out of group winner Anaheed.
The sire has been standing at Scone's Yarraman Park with a service fee for impregnating mares of just shy of $250,000."He started off covering lesser mares at a smaller fee and from his first crop, his sons and daughters have conquered everything.Australia's richest race, the Everest, is worth $14 million and the Melbourne Cup, $8 million, but this Saturday alone, horses and jockeys will vie for a share in $11 million across 10 races at the Gold Coast Magic Millions Raceday.
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