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Magic Millions Day-2: Lofty Clearance Rate

Friday, 10th January 2014

The blistering momentum continued throughout the second day of selling at the Magic Millions Gold Coast Yearling Sale with a very high clearance rate of 88.44 per cent underpinning a bullish market. Across the opening two days the average of $133,575 is consistent with the 2013 average of $132,289, while the median, always the most salient statistic, has risen from $105,000 last year to an impressive $120,000. The clearance rate has jumped by almost 10 per cent from 79 per cent in 2013 to bolster a gross of $41,007,500 for 307 lots sold. Magic Millions managing director Vin Cox enthused, "It is quite incredible ... With a clearance rate sitting at 88.5 per cent it is quite astounding." Meanwhile, the sale's current leading buyer Gai Waterhouse summed up affairs, "It's a very strong sale, but there's great value". As on the opening day, a brace of yearlings shared top billing with emerging NZ based bloodstock agent Glen Harvey uniting with Paul Moroney to snare the filly by Fastnet Rock from Awesome Planet from the draft of Newgate Farm for $400,000. Meanwhile, Sun Bloodstock had to push to the same figure to win out on Burnewang North Pastoral's athletic Exceed and Excel colt from Dubai Dream. Selling continues today from 11am.

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