Waterhouse gives A$3 million for two yearlings at Magic
Million
Trainer Gai Waterhouse typically defied gloomy economic predictions and gave
Magic Millions a welcome shot of adrenalin as, acting on behalf of unnamed
clients, Australian racing’s ever-effusive first lady outlaid A$3 million
Wednesday on two colts in less than 20 minutes on day one of the first yearling
sale of 2009, the Conrad Jupiter Magic Millions Sale on the Gold Coast.
Waterhouse signed at A$1 million for Hip No. 119, a Redoute’s Choice colt out
of Strawberry Girl (Strawberry Road [Aus]), offered by Magic Millions part-owner
John Singleton’s Strawberry Hill Stud.
“He’s by a champion sire and is out of a champion mare. He looks great value
at $1 million — I think he would have made $2 million last year. He’s a very,
very exciting colt,” an elated Waterhouse declared.
A three-quarter brother to proven New Zealand-based sire Danroad (Danehill),
the colt attracted an opening bid of $500,000 and Waterhouse triumphed eight
bids later.
Eight lots later Waterhouse defeated rivals with a A$2 million bid on Hip
127, a full brother to multiple Group 1 winner Racing to Win (Encosta de Lago).
The colt, who is out of Surrealist (Kenny’s Best), was offered by Coolmore as
agent.
“He is certainly one of the best horses I have ever bought here at the Magic
Millions. His full brother is a champion and he has the pedigree of a stallion,”
Waterhouse said. “I thought there were three outstanding colts in the sale and
I’m glad I’ve been able to get two of them. I had a number of people approach me
at the sale and tell me that they wanted a stallion prospect and this horse
fitted the orders. He will be raced by a large group of clients, including some
from overseas.”
Coolmore Australia general manager Michael Kirwan confirmed the stud would
retain a share in the colt.
“Surrealist is one of the most valuable mares in Australia, and this colt is
a full-brother to a champion miler in Racing to Win and half-brother to a Group
(3) winning stallion prospect in Purrealist (Tale of the Cat), so if he can
match his looks with the racing performance of his siblings he will be a very
commercial prospect,” Kirwan said. “He is arguably the best yearling we have
ever taken to the Magic Millions.”
Adrian Nicoll of BBA Ireland has enjoyed considerable success purchasing at
the Gold Coast, and he signed for the day’s second-highest priced youngster, Hip
171, a Redoute’s Choice colt out of stakes-placed Twist My Heart (Dayjur), a
half-sister to Attire (Wild Again), the dam of 2005 champion two-year-old
Fashions Afield (Redoute’s Choice). Nicoll said that the colt, bought for A$1.1
million, would be trained by Flemington-based David Hayes, and would be owned by
a syndicate that included international owners.
“He is going to be syndicated and he will go to David, and we have already
sold a good few shares in him already,” Nicoll said. “I thought he was one of
the nicest horses here. He is a magnificent individual.”
Waterhouse was leading purchaser, securing 12 horses for $4,845,000, while
the Hong Kong Jockey Club was typically active, purchasing eight for A$940,000.
Activity at the top end of the market and steady participation by
international purchasers for 29 horses in total ensured the first session closed
on a pleasing note, with an average of A$150,158, but Magic Millions managing
director David Chester is taking a cautious approach. The sale took a while to
find its feet, with 17 of the first 50 through the ring bought back. At that
point, the average was running at A$127,916 and 50 lots later the average
dropped another 24 percent to A$119,179 before the impact of Waterhouse and
Nicoll’s purchases boosted the figures. Last year’s first session had only 110
cataloged and 84 sold so comparisons are limited. The average was ultimately
down just 3.4 percent on last year’s overall average of A$157,321, but Chester
was circumspect, rating the sale “six out of 10.”
“(The first day was) a tough one for vendors but a goldmine for buyers,”
Chester said. “Those (average) figures are distorted by the $2-million horse and
the other two that made a million dollars. We’ve probably only got a couple of
others that will make the million over the next few days, and the average will
go down on Thursday and continue to fall. There was some great buying, and this
is the first sale in 12 years where it’s in the buyers’ favor. From a vendor’s
point of view I would be disappointed. From a buyer’s point of view I would be
over the moon. There were quite a few horses I thought would make more money.
Vendors early on were very realistic. I think the sale started too well — so up
the reserves went and they had to re-adjust through the day.
“The buyers this year have become much more picky and choosy…(and) there
may have been a few horses this year that didn’t come up and improve into the
sale from the initial inspection,” he added. “But let’s not forget that most of
these yearlings are only 13, 14 and 15 months old when they get here.”
Magic Millions’ co-owner John Singleton, said he was pleasantly surprised by
the strength of the day’s trade.
“I can’t remember being happy about a 20-percent drop in the past, but given
some people were expecting prices to be down anywhere between 50 and 70 percent,
I think a 20-percent drop is OK,” he said.