Depth of South Australian sale has participants confident of a strong market
Magic Millions Adelaide auction to get underway with prominent buyers in attendance
South Australian trainers are set to buck the downcast mood of the state’s thoroughbred sector by backing the Magic Millions Adelaide Yearling Sale as high-profile industry players also converge on the “city of churches” for the two-day auction, which gets underway this morning.
Magic Millions managing director Barry Bowditch believes this year’s 401-lot Book 1 catalogue, often considered a hunting ground for traders looking to find stock for the ready to run market, is the strongest in recent memory and the company has attracted a significant pool of investors to take advantage of the increased quality.
Magic Millions was forced to reject a number of entries for the Adelaide sale due to the quantity of horses received for the auction, which has led to optimism among vendors about a competitive buying bench.
That depth was in part helped by interstate vendors supporting the sale such as Hunter Valley farms Bhima Thoroughbreds, Kitchwin Hills and Glastonbury Farms, as well as a big representation from Victorian breeders.
“This year we had a huge amount of horses entered for this sale and given that the catalogue has gone up in numbers, but it has also gone up hugely in quality,” Bowditch told ANZ Bloodstock News.
“We’ve knocked back more horses than we ever have in the past, so that all bodes well that we’ve got the right product here and hopefully the buyers are on plenty of horses that they can take home and do a job with.”
While optimistic local trainers and owners will back the sale, which has produced graduates such as this season’s Victoria Derby (Gr 1, 2500m) winner Warning (Declaration Of War) and high-class mare Viddora (I Am Invincible), Bowditch says interstate and international participation will be pivotal to the depth of the buying bench.
Last year’s Book 1 sale averaged $39,661 and sold to a top of $250,000, while the clearance rate closed at 79 per cent.
“A lot of the local trainers have been out and about looking at yearlings and wanting to get business done to support the local industry,” he said.
“But this sale relies heavily on our incoming buyer program with interstate and international bidders.
“We have done our best to get as many here as possible and I felt the vibe around the grounds on Sunday was busy and there’s a good amount of people in town.”
Trade market buyers will also be scouting for opportunities at the Adelaide sale.
“There’s a good lot of breeze-up consignors in town and picking the eyes out of the colts,” Bowditch added.
“It’s like no other sale, the good horses will pick themselves and bidding will be strong on them and hopefully we can hold our clearance rate and pick our average up like it has been at other sales in recent times.”
Kambula re-enters yearling market
One South Australian vendor to embrace the Adelaide sale is David Toole’s Kambula Stud, which has a draft of 14 yearlings on offer, after changing the farm’s direction this year.
Toole has been best-known in recent times for selling his foal crop as weanlings at the Gold Coast each year, but yesterday he revealed that Kambula Stud had altered its focus due to “various factors”, one being wanting to re-engage in the camaraderie a yearling auction brings.
He expects his reintroduction to the Adelaide sale to be a fruitful one.
“We have been selling foals for five years and I’ve absolutely loved it, but we’ve been missing selling yearlings. I’ve had five years off and I’m looking forward to getting back into it,” said Toole, whose Kambula Stud had 19 mares covered last breeding season.
“The inspections have been very, very good and it is looking like it is going to be a very good sale for everyone here.
“I don’t think we’ve seen a buying bench so strong in Adelaide judging by the people on the grounds.”
Among Kambula Stud’s draft are yearlings by Deep Field (Northern Meteor), Hinchinbrook (Fastnet Rock), American Pharoah (Pioneerof The Nile) and three lots by Star Witness (Starcraft), the sire of yesterday’s Magic Millions Adelaide 2YO Classic (1200m) winner Amish Boy.
“And the good thing is, we have a Star Witness colt out of a Not A Single Doubt mare to sell – the same cross as Amish Boy – Lot 271,” he said of a draft made up of homebreds and yearlings consigned on behalf of clients.
“We also have another nice Star Witness colt, Lot 151, and we have a very nice American Pharoah filly and a Your Song filly as well as a nice Epaulette.”
Fellow South Australian operation Cornerstone Stud has 22 yearlings on offer this week, a scaled-back draft for the 2020 auction.
Among the draft are the first southern hemisphere-bred crop by Cornerstone shuttler Sir Prancealot (Tamayuz) who has made his mark in the northern hemisphere, particularly the US where he sired last year’s American Oaks (Gr 1, 10f) winner Lady Prancealot.
The sale starts at 10am local time today.