International buyers taking advantage of the Australian dollar’s near five-year low have pushed up top-end prices at this year’s Magic Millions yearling sales on the Gold Coast.
The annual sale of one-year-old thoroughbreds, which ran from Tuesday to Friday, resulted in a new record with a top sale of $3.2 million on Friday night eclipsing the previous high of $2.8 million on Thursday. Both sales exceeded the previous high of $2.7 million set in 2023.
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Michelle Bowes writes about wealth from our Sydney newsroom. She has more than 20 years of experience as a business journalist and is the author of Money Queens: Rule your Money, an award-winning personal finance book for teenage girls. Email Michelle at michelle.bowes@afr.com
