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Rich horse trainers buy up big, but sales soften ‘at the lower end’

Zoe Samios

Rising interest rates and sticky inflation have not curbed the appetite of Australia’s richest thoroughbred shoppers, but challenging economic conditions have slowed spending at the bottom end of the Magic Millions’ buyers’ market.

By 5pm Friday, more than 670 lots had sold, grossing $192.5 million. Magic Millions has already broken last year’s record for the number of million-dollar yearlings sold with 21.

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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com

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    Original URL: https://www.afr.com/companies/sport/rich-horse-trainers-buy-up-big-but-sales-soften-at-the-lower-end-20240112-p5ewte