Magic Millions National Sales could top $100 million as world buyers come to Gold Coast
HE’S already worth as much as a comfy two-bedroom apartment on the Coast, and this shiny young colt could earn his new buyers even more this time next year.
Owners of the weanling, sired by Not a Single Doubt, are hoping he’ll reap upwards of $200,000 at the Magic Millions National Sales, which start this week at Bundall.
While the glamour and celebrity of the January Magic Millions give the summer sales a higher profile, it is midyear when the serious horse business happens, with sales cracking $107 million last year.
In four short years it has become the biggest breeding stock sale in the Southern Hemisphere.
Managing director Vin Cox said the Magic Millions National Sales were offering 150 more horses this year than last — a total of 2400 animals, including 565 weanlings.
“This week we are selling weanlings, young horses that turn one on August 1, and they will become the yearlings of next year,” he said.
“Next week we have mares, race fillies off the track, and then mares that are in foal. The week after that we have yearlings.
“It’s something we’re very proud of, only four years ago the whole sale grossed just on $30 million and last year it grossed over $107 million, so it’s jumped right up.”
Mr Cox said the weanling market was growing swiftly in Australia, with many breeders choosing to offload all their stock before it was a year old.
Up to 70 per cent of horses bought as weanlings are onsold as yearlings.
“People buy weanlings to trade on as yearlings and hopefully make money on the way through. It’s what they call pinhooking,” Mr Cox said.
Kambula Stud operator David Toole trucked his entire crop of 18 foals 2000km from Kadina in South Australia to be sold on the Gold Coast.
“This is the third year that we have brought our entire draft, we were the first ones in Australia to do it,” he said.
“It is the best sale in Australia to sell at.”
Mr Cox while said most sellers were from within Australia or New Zealand, many buyers came from overseas.
“There will be a lot of people going through the Gold Coast for the various sales, whether it’s weanlings, mares or yearlings, because they’re different markets,” he said.
“We’ve got a lot of internationals coming — South Africans, Americans, Europeans, people from the Middle East, Kiwis and all over Australia.”
MAGIC MILLIONS NATIONAL SALES
* Sales run May 25 to June 8 at Bundall.
* 2400 horses on sale.
* More than $100 million of stock.
* 567 weanlings — less than a year old.
* 589 yearlings.
* Brood mares and racehorses also on sale.
Story courtesy Kathleen Skene – Gold Coast Bulletin