After the hammer fell on the last of 503 horses to sell during the four
select sessions of the Magic Millions Yearling Sale, industry participants
reached a consensus that the market is still moving at a pleasing pace, despite
a slowdown compared to the swift gallop of 2008. Vendors were justifiably
concerned that Australian bloodstock markets could mirror overseas trends, but
while the average at Magic Millions fell from A$157,321 last year to A$131,632,
the 2008 season closed on an unprecedented high, and the dizzying market
escalation experienced last year perhaps made the downward tilt of 2009 more
pronounced.
Magic Millions Managing Director David Chester was especially pleased that
the clearance rate edged just over 80 percent although, as he had predicted,
there were no fireworks during the final Saturday evening session.
“The average is only down 16 percent. Before the sale, the most positive
prediction was a 20-percent drop, and the worst was 40 to 50 percent, mirroring
the share market,” Chester said.
The two top-priced yearlings from Saturday night’s session will both go to
Leilani Lodge, where evergreen trainer Bart Cummings will put the polish on
them. The Cups King himself signed for the top seller. Consigned by Corumbene
Stud as Hip No. 680, the Charge Forward half-brother to Golden Slipper (Aus-G1)
winner Sebring (More Than Ready) brought A$420,000.
Agent Duncan Ramage, whose purchases are prepared by Cummings as well, gave
A$350,000 for Hip 620, a son of Encosta de Lago out of the Group 2 winner Nevis
(Danehill). The first foal from his dam, the colt has New Zealand champion and
Tartan Tights (Tights) as his second dam, and is from the immediate family of
multiple Group 1-winning sire Arena (Aus) (Danehill).
“In our humble opinion, he was the best-rated colt on pedigree, and his
conformation matched that. We are very pleased to have acquired him,” Ramage
said.