Vendors keen to meet the market at Magic Millions 2YOs In Training Sale
Expectations tempered as domestic investors called on to add depth to buying bench
Vendors are leaning on Magic Millions bloodstock consultants more than ever to gain an all-important read on the likely owner appetite at the 2YOs In Training Sale on the Gold Coast as the industry evolves and a greater emphasis is placed on an online buying bench.
As the international and some state borders remain closed, the reliance and acceptance of the digital marketplace and the increasing use of videos and photos to form educated opinions on horses has escalated at a rapid rate, and the cultivation of offsite buyer interest will play a crucial role in the success or otherwise of today’s auction.
Magic Millions, the “middle leg” of Australasia’s three juvenile auctions in 2020, has compiled a 217-lot catalogue of two-year-olds by stallions such as Exceed And Excel (Danehill), Deep Field (Northern Meteor), Dundeel (High Chaparral) and horses from the last crop of Hinchinbrook (Fastnet Rock).
“We’ve done our best under the restrictions that have been put in front of us to get as many people here as possible and obviously engage with as many people as we possibly can be that providing them with an agent, whether it be using our team or the technology they need to participate and show interest in the sale,” Magic Millions managing director Barry Bowditch said yesterday.
“We’re very fortunate that our core lot of vendors have been selling here with us for a long time and they are here to sell their horses – they want to meet the market.
“It’s their livelihood, so that gives buyers a great opportunity to know that when they bid on the horse here (today) that they are bidding with confidence and are here to be sold.”
The southern hemisphere breeze-up sales traditionally rely heavily on the Asian buyers but Magic Millions has attempted to fill any potential void left by the fact some overseas investors may decrease their normal spend by marketing the sale strongly to domestic buyers.
“David Chester, in my view, is the king of Asia and he has done his best to engage with as many people all over Asia as he possibly can,” Bowditch said.
“If they are not here, it’s through no fault of his because he has worked tirelessly on it. There’s obviously interest in the sale from most parts of Asia, but whether it’s as strong as it has been in years gone by with them not being here is hard to tell.
“All in all, it’s not going to be easy from an international perspective. Therefore, the team here has worked significantly on creating a domestic market which is hard to quantify, but we’re anticipating that we are going to be a lot more reliant on them than we have been in the past.”
Foot traffic at the complex yesterday picked up markedly, with agents Paul Moroney, John Foote, Peter Twomey, Craig Rounsefell, Adrian Hancock, Julian Blaxland and Dave Mee among those on the Coast for the sale.
Some Sydney-based agents were also able to attend the complex on a “day pass”, with Andrew Williams, Jim Clarke and Will Johnson making the most of the quarantine exemption.
Canberra trainers Nick Olive and Barbara Joseph have been on the Gold Coast in recent days, as have Albury-based Mitch Beer and Scone trainer Brett Cavanough, who won the recent $1.3 million Kosciuszko (1200m) at Randwick with It’s Me (Shamus Award).
Tim Wilson of syndicator First Light Racing was also inspecting horses as were Queensland trainers Kelly Schweida, Tom Button, Michael Costa, Gillian Heinrich and Jared Wehlow, while Adelaide trainer Travis Doudle has flown in for the auction.
A contingent from the Northern Territory have also landed on the Coast, including Phil Cole and Garry Lefoe, along with bloodstock identity Rochelle Adams, who works for Melbourne agent Sheamus Mills.
Queensland vendor Grandview will offer ten two-year-olds at today’s sale, including a Capitalist (Written Tycoon) filly (Lot 132) and a colt by All Too Hard (Casino Prince) (Lot 111), who is by the same sire as this season’s two-time Group 1 winner Behemoth and Queensland-trained Group 1 winner Alligator Blood, who took out the Australian Guineas (Gr 1, 1600m) in late February.
“We’ve had a good response so far and it’s been great that Magic Millions has been working hard to get the agents here and allowing them to do their homework to provide our buying bench with as much information that they can,” Grandview’s Michael Grieve said yesterday.
“Our biggest challenge is going to be trying to get our reserves right for our clients so that we can get these horses sold, which is the whole idea of it.
“Magic Millions has added the service of weights and heights of the horses and the more information that we can give the buyers, the better.”
Grieve cited the relative success of thoroughbred auctions this year where a large proportion of trade has taken place online as cause for optimism ahead of today’s auction.
“Buyers have shown through the year with these online sales that if you give them as much information as you can they are comfortable to buy, which gives us great confidence,” he said.
“We will sit down with Magic Millions and work through our horses and hopefully get them done.”
Vendors at last month’s Inglis Ready 2 Race Sale in Sydney also sought – and were provided with – feedback about potential buyers who had registered for credit ahead of the Riverside Stables auction.
Magic Millions bloodstock consultants will also be assisting their vendors to help ensure trade takes place.
“Obviously, we’re in a position where we can give our clients, buyers and vendors, the right advice and we encourage our buyers to look at as many lots as possible and to keep their lists long, get their vets in and to do their work,” Bowditch said.
“From a vendor’s perspective, we’re here to advise them on what we think we can attain for their horses, so wherever we can help them we will.
“They are a class lot of vendors and they are here to sell their horses and we will be doing our best to help them with that.”
Last year’s Magic Millions two-year-old sale sold to a top price of $525,000, while the recent Inglis sale had a top price of $610,000 and had two others sell for more than $500,000. However, Bowditch was keen to temper expectations ahead of today’s offering.
“How the market is, it’s not going to be an easy one, but you don’t have to be a genius to work that out,” said Bowditch, who overnight was also working the phones for the Keeneland November Breeding Stock Sale as its Australasian representative.
“But in saying that, we’ve got interest both domestically and internationally in the sale and we’re hopeful that come midday that we have done all we can to give our vendors the best opportunity to sell their horses.”