THE success of yesterday’s 2016 Tasmanian Magic Millions Yearling Sale can best be judged by the number of investors and onlookers who attended the event at the Inveresk Sales Complex in Launceston.
Not since the heyday of yearling sales has there been so many gathered around a sale ring in Tasmania.
The quality of horseflesh offered at the sale lifted dramatically compared to previous years and when you mix that with a whole bunch of genuine buyers it is a sure recipe for success.
There were plenty of interstate buyers and one investor from China, Chong Bin Wu, who was involved in a few bidding frenzies and emerged triumphant more often than not to end up with six Tasmanian-bred youngsters at an average price of $26,000.
Chong Bin paid $50,000 for a Cardinal Virtue-Fasig colt offered by Graeme McCulloch’s Grenville Stud.
There were some regular Tasmanian sale buyers who walked away empty-handed but maybe they will be able to negotiate their way into a horse from some of the 17% of yearlings that failed to meet their reserves.
For a sale to go from a record turnover of $1.54 in 2015 to $2.32 million is an amazing feat but it didn’t happen by sheer chance.
Tasracing and Tasbreeders have been working hand in glove for some time to make changes to the state’s breeding program and most of the breeders have taken notice of advice from Magic Millions to upgrade their stock of broodmares.
That investment on their part has paid remarkable dividends.
Armidale Stud delivered the goods on two fronts.
Not only did it emerge from the sale with two of its yearlings selling for six-figure sums ($115,000 and $100,000) it also had success with the first crop of its new resident stallion Needs Further who had 21 of his progeny pass through the ring for an average sale price of $27,000.
Victorian buyer Rex Gorell paid $85,000 for the Needs Further-Caralowe colt that is a half-brother to former star two-year-old Triple Asset and Star Thoroughbreds gave $72,500 for a Needs Further-Buzzing Along filly.
Star Tasmania sire Wordsmith, who has been a revelation since his arrival at Paul and Elizabeth Geard’s GG Horse Stud, had only five of his progeny at the sale and all sold well.
The Wordsmith-Build A Bridge filly offered by Runnymede Stud was purchased by top Tasmanian trainer Barry Campbell for $60,000 and he also paid $18,000 for the Wordsmith-Nought colt offered by the same stud.
Ironically Build A Bridge is a daughter of Nought so Campbell was obviously keen on the family.
Having the top-priced yearling stay in the state also is a bonus and his purchaser Ian Halliday was elated with his efforts at the sale.
Halliday paid $115,000 for the Written Tycoon colt and he paid $60,000 for a Foxwedge colt that attracted spirited bidding as he pranced around the ring.