Barry Bowditch and suppliers remain optimistic ahead of the annual Magic Millions Auction in Adelaide, believing the South Australian auction is strong enough to weather any potential market downturn.
A large number of international and interstate buyers made the annual trip to the City of Churches for the two-day annual sale, reinforcing the depth of owners, agents and trainers local market support Adelaide.
Magic Millions CEO Bowditch conducted annual sales in the Gold Coast, Tasmania and Perth in 2023, two of the three sales increased annual sales and although he did not put out any No such prediction for the Adelaide Sale, but he is optimistic that a viable market will be shown.
“I think it’s the best horse portfolio we’ve had here in years. There’s a wide range of horses, there’s a wide variety of seller groups, and I think it’s led to a good group of buyers that have flown in and here. for sale,” Bowditch told ANZ Bloodstock News.
“Racing in Australia is a great place; the bonuses have never been better and I think there’s a huge opportunity at a sale like this, there’s a lot of value to be found when your entry point is you’re lower than some of the other sales, so you can get some of them at an affordable price.
“The other thing is, the sellers are here to sell their horses. They’re the people who are very willing to sell horses, who can make the buyer believe they’re bidding on a genuine market.”
Victorian trainers Tony and Calvin McEvoy, Lloyd Kennewell, WA Simon Miller, Singapore-based Donna Logan, and dealers Damon Gabbedy, Sheamus Mills, George Moore, Suman Hedge and John Foote are among the buyers. seen at the complex in recent days.
Ralph Satchell of Willow Grove Stud, a longtime Adelaide salesman, has graduated another award won a Matrice Share on March 13 before the farmer on the farm Outlaw revengethere is a draft of 11 calves a year to be put up for sale in the next two days including a foal due to harry angel and a chubby person It’s all too hard.
“This group is probably our first crop of mares that we’ve bought to improve our mares base base and the quality is definitely outstanding. I think that’s it. is a good draft as we brought to the sale in Adelaide,” Satchell said.
“We’ve sold over 30 winners through this sale over the years, so we’ve been able to produce merchandise and we’re the top breeder to be nominated for a Racing Reward in three years. last year in SA, so we’re definitely running with a pretty good winner ratio when it comes to selling.”
Sales of the Inglis Classic and Premier in Sydney and Melbourne, respectively, feel the effects of a slowing economy and rising interest rates, but Satchell echoes Bowditch in contentment with horses that test traffic by foot.
He said: “I’m very excited by the people who are checking the grounds. The people here and there will be some very stiff competition for the right horses.”
Cornerstone Stud Superintendent Sam Pritchard-Gordon addressed the broader economy and its impact on the Adelaide market, admitting that “there is definitely an atmosphere of anxiety.”
“It’s a very different financial environment we’re operating in this year and an average sale of AU$50,000 to AU$65,000 is right in the hot spot where the value is,” Pritchard-Gordon said. of the horses has decreased compared to the previous sale”.
“That said, Magic Millions has done an excellent job of finding the right horse for this sale.
“The bounty (in Australia) is growing and if you buy a horse for AU$40,000, AU$50,000, AU$60,000, whether it’s a Racing Bonus, BOBS or Vobis, the portion Bonuses can be very attractive and hopefully people will see that and are looking to get through (recession).”
Cornerstone Stud will offer 28 pups a year at the Adelaide sale, including the progeny of explosive spirit , Grunt, tornado , Pride of Dubai And nicconi .
David Toole of Kambula Stud, whose stallion is in consignment for his 71st year, sold two top-priced lots at last year’s Adelaide sale, one dudeel for AU$375,000 and a capitalist for AU$325,000, and he is confident he will have another good product of 14 chicks a year in this batch.
“We brought our entire crop here again. It was an outstanding success last year, so we hope to do the same this year,” Toole said.
“The traffic that has come through so far is very active and all you can really do is be persistent (for good results).”
Among the stallions represented in the Kambula draft are Rubick, green point , Zousain, Written byAnd exceed.
A quiet moment shared between shows
Bowditch concluded: “Clear rate is very important to Magic Millions and like I said, we’re going to have a very real market and buyers can bid with confidence and we’re just hoping. get two days of healthy trading.”
The first day starts at 10 am (local time) on March 14.
