Since the mid-1980s when it began, the annual Magic Millions Gold Coast Yearling Sale has provided a valuable insight into how strong the discretionary spend is looking.
John Warren, one of the world’s most respected thoroughbred industry leaders, and racing and bloodstock adviser to the British royal family for 37 years, hailed “the broad base” of the Australian racing sector as likely to pull it through any economic pain as the annual“In this day and age, nothing is bulletproof, and we’re all hearing this year could be tough,” Mr Warren said at the Magic Millions sale complex in Bundall.
Mr Warren was in good spirits after a Zoustar filly he bred in Australia, Lot 81, was sold for $525,000 to Guy Mulcaster, who found champion mare Winx.“In Australia, you have terrific prizemoney, great sales like Magic Millions, and the breeders have brought tremendous stock here. Day one is too early to get a real feel, but the vibe feels great,” Mr Warren said, adding, “I’m overjoyed to be back. I can’t really get enough of Australia”.
It was a strong start to the sale after Magic Millions had made unwanted headlines earlier in the day when two horses got loose and crossed tram lines and the Gold Coast Highway. Both animals were eventually captured unharmed.The horses were among 22 thoroughbreds racing on Surfer’s Paradise beach as part of the auction house’s week-long calendar of events.
As the year’s first real test of discretionary spend, the yearling sale is closely monitored by the luxury sector.“Day one is a bit early to tell how it’s tracking, but I’m not seeing any evidence of economic headwinds here so far, it’s a very active sale,” said Arrowfield Stud’s founder and owner, John Messara. Snitzel stands as a stud at Arrowfield for $220,000 per service.grossed $228 million, with an average price of $294,476, and a top price of $1.9 million.
under his Patinack Farm banner. “You never hear of Nathan’s racing ambitions or if he’ll ever pick it up again, but his dad still races a few horses,” said one industry veteran.Earlier on Tuesday, all the usual “glamour racing” suspects were out in force at Surfer’s Paradise for the beachside barrier draw for the $2 million 1200-metre Magic Millions Classic for two-year-old horses.
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