Magic Millions auction theatrics conjure $6m

A furious spurt of theatrical bidding resulted in more than $6m changing hands in less than 30 minutes at the Magic Millions thoroughbred auction on the Gold Coast on Wednesday.

Tom Magnier and daughter Evie, 8, with his $1.8m colt. Picture: Luke Marsden.

A furious spurt of theatrical bidding resulted in more than $6m changing hands in less than 30 minutes at the Magic Millions thoroughbred auction on the Gold Coast on Wednesday.

The top-seller for the day, at $1.8m, was a colt born in England to an Australian mare and British stallion which fell just shy of the $1.9m paid for a colt on Tuesday’s opening day of the week-long yearling sale.

The high-stakes bidding put the auction on track to top last year’s sale figures, which Magic Millions managing director Barry Bowditch indicated a robust economy, despite the pandemic.

“It’s been a fantastic two days,” Mr Bowditch told The Australian.

“All of the key metrics are moving in the right direction. They’re up from last year at this point, which is fantastic given the circumstances of very few international buyers here and fewer Sydney people here.

“The economic indicators show the economy is in great shape. There was some theatre — it was an outstanding auction and a great duel.”

Four horses sold for more than $1m on Wednesday, and the average price paid sat at about $260,000 by the end of the day — up from last year’s average of $217,000, and $201,000 in 2019.

Mr Bowditch, who admitted to being apprehensive ahead of the sale because of the pandemic, said the record number of lots had not diminished the quality of the yearlings on offer and clearance rates were strong.

“We had to make it a bigger book because the vendors were throwing these quality horses at us,” he said.

“I’ve got to be honest … I was nervous about having more horses. Thus far it’s proving to be the right formula.”

The $1.8m colt, purchased by Coolmore Stud’s Tom Magnier, was bred by Winx breeder John Camilleri. His mare Florentina was flown to England where she was put in foal to champion stallion Kingman, who Mr Bowditch described as “one of the world’s best stallions”.