Barry Bowditch brushed aside any potentially significant economic downturn being felt at the Magic Millions Gold Coast Yearling Sale, believing buyers will have a sustained need to source new racing stocks, especially especially in the higher end of the market, as the industry’s key auction for the 2023 season is underway on January 10.
The Magic Millions CEO hit out yesterday before opening seven sales, claiming 1279 Volumes 1 and 2 offer “a sensational horse portfolio” that will entice thoroughbred investors, house Service providers, trainers and owners of all levels to buy on the Gold Coast.
“It’s the biggest Volume 1 we’ve got (979 lots), but it’s also the best quality. The sale follows last year’s sale when you hit a record average ($294,476 for Book 1) and rates sold out at 93%, vendors have confidence in this sale more than ever,” Bowditch told ANZ Bloodstock News yesterday.
Barry Bowditch
“This year we are fortunate that we are able to have more large seedlings and many of the best seedlings on offer and I suggest that buyers respect that fact and do not wait for another sale because because these are the best plants (groups) of young from this generation.”
Victoria’s top coaches Ciaron Maher and David Eustace have been the biggest buyers of Magic Millions in recent years, and this partnership will once again be a force in Gold Coast’s sales round in next seven days.
“(Magic Millions) has assembled a herd of lovely horses. The ranch has done a great job, and for some of them, it’s been some challenging years, but you wouldn’t know, looking at the horses. horses, it’s a great herd and I’m sure the bidding will be very exciting,” Maher told ANZ Bloodstock News.
“We’ve got them under control. We’ve been keeping an eye on the young a year early. There’s a horse there for everyone and lots of horses.
“The real estate market is coming back a little bit, but the horse-racing sales seem to have a way of defying logic. So if you look at the global scale, all sales are up and I wouldn’t be surprised if we got a good price.”
Jamie Walter of Proven Thoroughbreds, whose company has enjoyed a stellar 2022 thanks to the deeds of Detective and the 2 and 3 year old won the bet go for a walkwas hoping the market had bounced back after such a sustained period of growth.
Private Eye wins Epsom Handicap 2021 at Randwick Racecourse
“It’s always been a really strong sale, especially at peak times, but maybe this year with the number of horses, regardless of the quality, it might drop a bit and like I say, let’s hope. hope so,” said Walter.
“Ending a great year, it always gives you confidence when it comes to sales, but I’m practical and experienced enough to know that years like the one we had last year will be extremely difficult to repeat, so what do they say, ‘when you get stuck ‘a good run in a race, you get closer and closer to having a bad race’.
“I’ve had a pretty good run over the last couple of years and we’ll see how the market goes (before determining how tough we are back).”
The bottom end of the market, underpinned by numerous pony groups such as the Newgate Farm-China Horse Club partnership, an organization led by James Harron, and the Victorian Alliance, are expected to at least make a strong contribution to the market. The overall composite as the cohort was last year.
However, Bowditch urges potential buyers not to be intimidated by the so-called big players, maintaining the horse’s diversity will present opportunities for buyers across the board.
“This is the beauty of having Book 1 out of 979 horses, it gives people confidence that they can play in the market, whether they have a small budget or a big budget,” he said.
“You just have to see six of our recent decent enough group 1 winners bought at this sale for less than $150,000, so the entry point to buy a good horse doesn’t have to be huge. .
“The horses from this sale perform in all numbers (price point). The recent graduation success cannot be compared with any other sale; you are likely to buy one. Group 1 horses here are twice as tall as anywhere else.
“The ponies that come out of this sale are the best ponies to have entered the herd. It’s been a long time since a pony that won the Golden Sandal was sold at any other sale—and those pony fund buyers realize that, and a race sequence is running on one of them.”
When the pandemic was almost a distant memory—just over 12 months ago when Queensland’s borders were reopened to all—a wide range of international travelers made the most of the opportunity to back to the Gold Coast.
Marie Yoshida of US-based Asian Bloodstock Services was at the Magic Millions complex along with European agents Johnny McKeever, Angus Gold, Hubie de Burgh, David Redvers and Dermot Farrington, among others, and they prepare to face a large number of domestic and New Zealand buyers.
Tom Magnier at Magic Millions Gold Coast Annual Sale 2022
While there is much optimism surrounding the Gold Coast complex, Willow Park’s Glenn Burrows—whose Scone farm has seven young a year is titled a Snitzel completely off the mare that bet Acqume (Lot 576) — offering a warning about using last year’s drop as a base point for the 2023 edition.
“What I think is the average and clearance will be (down) from last year, not by much but in the (under) 10% range, mainly because last year there was a kind of frenzy when people was here and wanted to buy a horse and so it was a super sale with an unprecedented 93% liquidation rate.
“Our first day (test) stats show we’re down about 20% from the previous year’s figures, but it was the peak year and when you look at it with three years ago , it’s still very good.
“Now that interest rates have gone up, some distributors are definitely having a hard time with (the extent of) their claims, so that could affect the market a bit in the 150,000 to 200,000 range. dollars, but I can’t see the end of the market change.
“It will go up in price as always, but in my opinion there could be more value at $200,000 or less.”
Widden Stud’s Antony Thompson Who Will Offer Her Sister the Championship sunlight However, as Lot 399 is due later tomorrow, it is confident that the Gold Coast auction will again bring strong competition from buyers.
“I haven’t really analyzed it compared to previous years, but I do know that I’ve been very, very busy, the parades have gone well,” Thompson said yesterday.
“We’ve had a lot of rallies at the ranch and the parades here are very good, so I’d say it’s as strong and healthy as we’ve seen it.
“Last year was an amazing sale and it surprised me a bit. If this year is as good, you’ll be happy and I don’t see why it can’t be.”
Sale on the first day will begin at 12pm, preceded by the Magic Millions 2YO Classic (RL, 1200m) and Magic Millions 3YO Guineas (RL, 1425m) hurdles draws at Surfers Paradise this morning.
