Magic Millions Yearling Sale 2015: Happy days here again as prices surge on the Gold Coast

BUYERS have had to set their budgets higher on the Gold Coast, as the Magic Millions Yearling Sale surged to heights not seen since 2007 and 2008.

Magic Millions Yearling Sales

BUYERS have had to set their budgets higher on the Gold Coast, as the Magic Millions Yearling Sale on Thursday surged to heights not seen since the halcyon sales of 2007 and 2008.

The average surged well above $170,000 on Thursday night as many trainers lamented not being more aggressive on the first day.

The benchmark Magic Millions January sale came in 2007, when the average of $181,000 fuelled a total aggregate of $108 million.

This year’s sale will fall short of that mark but it is the biggest surge on the Gold Coast since then.

Lot 308 sold for $620 000 to Jon Kelly from the United States.

“It’s well above expectations. This is a seriously good sale,” Magic Millions managing director Vin Cox said.

“The depth in the market has been amazing.’’

Cox said international buyers were more prominent on Thursday after being “blown out of the water’’ on the first day.

“I think (yesterday) they recalibrated and stepped up to the plate,” he said.

American owner Jon Kelly and Gai Waterhouse discuss their options. Picture: Scott Fletcher