Cover image courtesy of Magic Millions

At A Glance

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When selling concluded on the first day of an enlarged Book 2, $7,322,500 had been sold across the 223 lots offered.

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The median decreased from $60,000 in 2023 and $55,000 in 2022 to $40,000 this year, with the 72.68 per cent clearance rate slightly below the 79.5 per cent in 2023.

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The year-on-year average dipped from $68,721 to $49,144.

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The top lot for the day was a colt by Star Turn who sold for $230,000 to Danny O'Brien Racing, in a landmark result for breeders Roona Lodge.

Bowditch hopeful of a rise to the clearance rate

The clearance rate hit 70 per cent just prior to the conclusion of selling at 4pm local time, in a market that provided value for buyers.

Managing Director of Magic Millions, Barry Bowditch, considers the results “close” to where he thought they would be at the conclusion of the first of two days of selling in the Book 2 catalogue.

“I think it’s close to being in line with my expectations leading into it,” he told The Thoroughbred Report.

“The clearance rate could have been a bit better, the average was in line with what I thought, and to sell two quality horses (for) above $200,000, with some dozen (14) making six-figures, it’s a pleasing start to the sale.

“If a good quality horse walked in that vetted well, they sold accordingly.

“There’s a lot of new faces that are playing in the market, and taking on some of the buyers that didn’t get all the horses they needed last week, it’s a positive.

“It’s not getting any easier at this end of town, but on the whole, I’m pretty pleased with how the day ended up, because at times there it looked pretty sticky.”

Turning his attention to Tuesday, Bowditch was insistent that the final day of selling from the Bundall complex can deliver some strong results.

“It’s a pretty well-balanced two days (of Book 2, there’s) quality horses tomorrow, that are very similar to what we offered today. I’d suggest that come tomorrow, the buyers that aren’t here or aren’t really competing yet will see value in what we’re offering and hopefully get in touch.

“We’ll check in with them to ensure they’re given every opportunity to participate and I think for the buyers here, they’d be happy with what they’re buying, and enticed to come back and do more tomorrow.

“With any luck (the clearance rate will increase), generally with clearance rates, they keep creeping up over a period, and we’ll be motivated to sell passed in lots between now and this time tomorrow, so with any luck the clearance rate will be in a better position than it is now. If it’s north of 75 per cent I’d be happy.”

Roona’s dream result

For Roona Lodge, a bespoke operation based at Warwick, Monday’s selling provided them a historic high, with Lot 1189, a colt by Star Turn, going to Danny O’Brien racing for $230,000, the highest price ever paid for a yearling they’ve bred.

With just 10 broodmares calling the property home, the result was an emotional one for Tamara Rickert, who spoke with The Thoroughbred Report minutes after achieving an extraordinary result.

“I cried. This means everything. This is hard work, this is dreams, this is everything - $230,000, you look at Book 1, it's nothing, but to us, it's amazing.

“With our breeding partners, we've been striving just to improve all the time, it (this result) puts us on the map, it's not all about big farms and numbers.

“You can produce small (volumes of) quality and that's what we're aiming for. Everything is just quality.

“We've heard that (there was speculation Lot 1189 would top the day), but as we've been around for a long time, you just never get your hopes up.

“Because when you think you're going to have a good sale, it's not a good sale, so we just try and stay a little bit grounded.

“He was just a beautiful horse. Jimmy (nickname on the farm) was foaled in our place. We then sent him to Toolooganvale (who offered him as part of their draft) on the 31st of October to do the yearling prep. I couldn't have been more thrilled with the job that they've done with them all.

“We thought a reserve of $120,000 was fair. I thought that might've been the top end of the sale, so anything above that was just a bonus, but we were more than happy to keep him at $120,000 but $230,000, we’re thrilled, just thrilled.”

The vote of confidence from top Victorian trainer Danny O’Brien also put a spring in Rickert’s step, who said, “I'm thrilled, I met Danny one day this week. We've actually bought a share in a horse with Danny in the last 12 months.

‘Jimmy’ is out of the 10-time winner Highly Geared (Ad Valorem {USA}), who achieved a second placing in the Listed Chief De Beers S., giving her some valuable black type. Her only foal to race, Tres Redoute (Dissident), has been successful on two occasions in short-course races.

“(He is) one of Australia's greatest trainers and just thrilled that he secured him. I didn't know until this week that he actually bred Star Turn, I knew he trained Star Turn, and he said it's the spitting image of him.

“So we thought, ‘Oh, I think Danny likes him’. I couldn't be more thrilled with Danny and very exciting times ahead for him.”

Dazzling D’Argento goes for $220,000

Charlotte Littlefield and her Hayfields Racing operation have enjoyed a rapid expansion as they seek to entrench themselves in a competitive Victorian training scene.

With bidding being done by Intel Bloodstock’s Ash Richards, the pair combined to secure Lot 1234, a colt by D’Argento with a striking tail, for $220,000.

Arguably the most contested lot of the day, bidding went on a rapid ascension as soon as six figures were reached, with interest not slowing down until the $220,000 mark was breached. Speaking following the purchase being confirmed, Richards told The Thoroughbred Report of the process undertaken to secure the colt.

“We’ve been up here since the fourth, we’ve done a lot of the catalogue (and) it’s been tough. We got a filly (Lot 4, by Dirty Work) early, we got beat on one on Saturday night (so) we were determined to come to Book 2 and buy the best colt.

“I think out of all the horses we inspected in the catalogue, this was one of the best colts in the complex. He was a phenomenal moving horse, he has great shape.

“There’s a bit of speed and precocity there (in the pedigree), the old man won three as a juvenile, I think physically he is a juvenile, he’s just a really good, strong, sharp colt.

Interest in Ole Kirk continues

One of the most coveted first-season sires of Book 1, Ole Kirk, had a continuation of the trend in Book 2, with Lot 1040 going to Network Bloodstock for $170,000 early on Monday.

The Baramul Stud-offered colt was one of the most intriguing prospects leading into selling, and his price lived up to the expectation, getting knocked down as the third-highest lot of the day.

David Bourne, who operates Network Bloodstock, caught up with The Thoroughbred Report to give some insight into the purchase.

“First of all, on type, he was an outstanding type of a horse, so once we had done our due diligence it was a matter of working out a price point.

“Certainly, for a breeze-up sale, he’s a big, strong horse, and he looks like he’d cope with anything prior to Christmas time (as a 2-year-old), because he is by a fashionable first-season sire in Ole Kirk, it’s the racehorse for the Asian market.

“This horse probably has a lot of domestic appeal, and also high-end Hong Kong (appeal), so that sort of gives you both markets (to on-sell to).

“I just rated him against Book 1, and he rated extremely highly on type, so if you put that price in Book 1, I think he fits in just fine, we chased a few very similar horses that went for way above that, so I thought that was about right.

“You always want to buy them at the cheapest point you can, but we just had to go that far to get him.”

Diversity of buyers evident

One of the most interesting elements of the day was the range of buyers eager to take one (or more) yearling home, with 120 individual buyers signing their names across the 149 horses sold.

David Ellis CNZM (BANZ) returned to pick up one of the first-crop of a stallion he knows very well, going to $55,000 to purchase a filly by Cool Aza Beel (NZ) from a mare from his former star Xtravagant (NZ) off the back of his spending spree in the five days of Book 1.

By far the most active buyers across the day were Marg and Adrian Harvey, who signed for no less than nine individual lots, spending $148,500 in the process.

Queensland buyers were happy to keep a number of horses local, purchasing 51, just over one-third, with New South Wales one behind, having bought 50. Hong Kong buyers also happy to invest, taking home nine.

Singapore, which has an expiration date of 10 months will also welcome a horse out of the sale, while four will ahead across the Tasman to New Zealand.

Top lots

Top buyers

Vendors by aggregate

Vendors by average (3 or more sold)

Sires by aggregate

Sires by average (3 or more sold)

In 2018, Murwillumbah-based trainer Matthew Dunn and respected bloodstock agent Neil Jenkinson (FBAA) celebrated success at the rich Gold Coast meeting with a $16,000 yearling purchase, Care To Think.

The impressive son of So You Think (NZ) swept to victory in the $970,000 R. Listed Magic Millions Cup and would retire with earnings well over $800,000. Making his already modest purchase price even more paltry.

“Care To Think was $16,000 and Madotti was a very dear $80,000, while Saturday’s winner Derry Grove was $30,000. I love it; It wouldn’t matter if I was buying for Matthew (Dunn) or John O’Shea or one of the big stars - we would all love to buy those big expensive colts, they’re magnificent or the fillies with the big pages, it’s fantastic stuff,” Jenkinson enthused to The Thoroughbred Report.

“But it’s so much fun buying cheap horses and winning money with them. I take a lot of satisfaction out of finding those horses that fall through the gaps. Those expensive horses are expensive because everyone finds them, and that’s not to decry the people who buy them because they buy nice horses. They’re absolutely lovely animals, but we all find them, and only a few can afford them.

“I’ve had to get creative and look past the obvious horses for myself and my clients. Care To Think, from my recollection, was a foal share, and he had a little white spot in his eye where he had a healing ulcer. I’m not sure if that put people off, but my vet said just continue to treat that as it’s on the right, and you’ll be fine with it.

“Care To Think walked into the ring with no reserve or x-rays. I didn’t know at the time whether he had had an issue or not, but for $16,000 for a first-crop son of So You Think he looked terrific value. Care To Think was such an athlete; he didn’t carry much weight but just moved so well. So, no x-rays, a little spot in the eye, but a lovely horse played in our favour. I’ll never forget that Magic Millions. I had a couple of very good friends in that horse and people who had been very good supporters of Matthew’s stable.

“It was tremendous. It was a sad thing that the little wind issue he had probably stopped him from being his absolute best. We always felt he was a Group 1 horse, but the memories of that day and summer preparation will remain.

“Madotti should have won the Magic Millions as a 2-year-old. Sadly, one of the partners drew the outside barrier, and she had no luck. But she returned and won the Magic Millions QTIS, which was fun.

“But the Magic Millions is a fabulous concept to run for that money in those sorts of odd races like the Syndicate and QTIS and things like that. The whole event for the owners is just tremendous like the week is, you know, two race days at the end of the week is just phenomenal.”

Third success in Millions

Last Saturday marked six years since Care To Think blazed the Gold Coast turf, and fittingly, Matthew Dunn and Neil Jenkinson celebrated undoubtedly one of their most exciting and profitable race days on an Australian racetrack.

Dunn saddled-up the progressive Boom Torque (Spirit Of Boom) in the $1 million Racing Queensland Magic Millions QTIS Open and two races later Derry Grove (Star Turn) was gutsy in claiming the $1 million TAB Magic Millions The Syndicate.

Derry Grove was another astute purchase by Jenkinson, who paid $30,000 in partnership with Viva Racing and Matthew Dunn from the draft of Jorson Farm at the 2020 Magic Millions Gold Coast Yearling Sale.

The son of Star Turn has been a prominent money-spinner from only 12 starts; he has won five races totalling in earnings over $700,000.

It was a well-deserved payday for Jenkinson, Dunn and Viva Racing. Earlier in the week, Jenkinson and Dunn purchased seven yearlings from Book 1 for an accumulated price of $905,000.

Viva Racing partnered with three of those purchases: Lot 186, a colt by Microphone for $110,000; Lot 296, a filly by Derry Grove’s sire Star Turn, for $75,000; Lot 790, a rig by Kia Ora Stud’s Golden Slipper victor Farnan for $120,000

Gallery: Yearlings purchased during Book 1 of the Magic Millions Gold Coast Yearling Sale by Matthew Dunn, Neil Jenkinson Pty Ltd (FBAA) and Viva Racing, images courtesy of Magic Millions

The most expensive of the purchases signed by Jenkinson and Dunn was Lot 621, a strongly made colt by Shamus Award offered by Attunga Stud for $260,000.

The raid was planned with Jenkinson and Dunn agreeing that the hole in the middle to lower-end market this year represented ample opportunity for the pair.

“The first couple of days, we purchased a Toronado and a Microphone, and then we bought a Star Turn filly because we like them. We also got a Shamus Award, a Farnan, a Castelvecchio and a Too Darn Hot,” Jenkinson told The Thoroughbred Report.

“The Shamus Award was our most expensive purchase at $260,000. He’s a beautiful big horse, and the great news is he’s only got five or seven per cent left to sell, so that’s great as it was a lot of money for us.

“We purchased a couple of expensive colts from (the) Inglis Australian Easter Yearling Sale a few years ago when Matthew was trying to make Sydney his base. Both of them have very good talent, but it was an experiment. That’s not what we usually do, so we’re back here on the Gold Coast and have been active in Book 1 and Book 2.

“Matthew and I went to Karaka once. It was a great trip with the New Zealand Thoroughbred Breeders’ tour for trainers and their clients. Andrew Birch was so kind in arranging that for us, but we battled when we returned to buy a horse or two. It was costly, and we never actually purchased one.

“If I were asked to do some work over at Karaka, I’d jump at the opportunity because the people are so fantastic. We are planning to front up at the Inglis Classic (Yearling Sale) if we get all the ones we purchased here sold, which we are well on track to do. So, we’ll be at Classic and always look to buy a few there.”

Planned attack

The 2024 Magic Millions Gold Coast Yearling Sale is the most active Jenkinson and Dunn have been in the market. Last year, the pair purchased three yearlings, followed by four in 2022 and six in 2021.

“We’ve been stronger here (Gold Coast) because the sale has allowed us to be. The top part of the market, those $250,000-plus horses, are really hard to buy as they’re really nice, almost perfect horses. They’re super strong, but in our market up to the $200,000 mark, there have been lots of holes and flat spots that have turned into opportunities to buy horses that we really liked. So, we’ve taken advantage and haven’t bought one horse we didn’t like.

“We felt we got good value with the horses we purchased. A couple will run early, and a couple will take a bit more time. It’s just a really nice cross-section. Normally, we get left to buy fillies, as they tend to be a bit weaker at these sales, but this year, we bought a good number of colts, and all trainers like to train a colt.”

Jenkinson also shared the plan he had with Dunn to not only be active in the sale-ring but the racetrack.

“It’s a funny story. I told Matthew this is our benchmark carnival, and we’ve got the stables going well. We have a lot of owners around us at the moment who are keen to invest. We needed to be stronger not necessarily for dollar spend but more horses.

“Coming into the Magic Millions, I thought, 'Geez, we’re really only going to have three runners over the weekends', so I told Matthew it’s really not enough. We’ve got to hang our brand on this weekend and carnival. So, I pushed, did heaps of work, and bought lots of horses, and when Matthew won the second race on Saturday with Derry Grove, he turned around to me and said, 'We don’t need more horses. Two starters, two winners that’ll do'.”

Great mates

Dunn’s success comes as little surprise for Jenkinson, given his workaholic attitude. In a relationship that stretches nearly 25 years, Jenkinson has watched the ambitious young man rise through the training tracks.

Although an independent agent, Jenkinson is more than happy to associate with Dunn. Admitting he loves the thrill of finding a bargain horse such as Derry Grove and Care To Think that excels on the racetrack.

“I feel like I’ve known Matthew for a lifetime. I met Matthew on the Gold Coast. He was actually a trainer here for a couple of basically professional punters. He would have had six or seven horses in work.

“He had a second job and was just desperate to make ends meet and become a horse trainer. I had left Magic Millions and was around the stables with Alan Bailey, and I came across Matthew, and he and I sort of hit it off fairly early. We became pals, and I’ll never forget it was a volatile time for him because, training for punters, you have good days and bad days with those guys.

“He rang me and said, 'Gerald Ryan is opening a stable in Sydney, and he’s asked me to go down and be the foreman'. Gerald was based at the Gold Coast in those days. I said, 'Matthew, the only thing I hope is that you’re calling me from Sydney airport when you’ve arrived and heading to the stables', I said, 'Don’t even think or hesitate; you have to take that job', so, obviously he took the job, and he was with Gerald for quite a while.

“I kept in contact periodically whenever I was in Sydney for the sales, and then one day Matthew rang me out of the blue and said, 'I’m going home', I said, 'Oh yeah, what are you doing?' He informed me he would run Gerald’s satellite stable, and that’s how it started.

“Matthew trained a few horses that weren’t up to Sydney class, and he did some breeze-up horses, and it’s just morphed into the stable he has now. He’s just a very driven person and wanted to be a good trainer.

“I remember standing on a bit of property he owned to spell horses on, and we spoke about if you wanted to be a trainer, you’ve probably got to do it in your own right and stand up, get some owners, and we’ll get some horses.

“He had established a few clients working with Gerald, some of which stayed, and he was probably training 20 horses. But Matthew is just a relentless worker; he just works and works. I’ve brought some owners and tried to add a bit where I could; despite being an independent agent, I buy his yearlings. I can buy them for anybody, but I buy all of Matthew’s.

“We’ve had great success together with cheap horses along the way, which has been fun, and we genuinely enjoy one another’s company.”

Cover image courtesy of Magic Millions

For the first time in Magic Millions sales history the company has implemented the disclosure of whether a yearling colt is a rig.

With transparency paramount, the general consensus was anything that improves the disclosure can only be beneficial for buyers. The prospective downside is the perception that a yearling being listed as a rig could affect sale price and rule out bidding interest from colt syndicates.

That perception currently cannot be backed up by facts with Lot 201, a rig by Extreme Choice offered by Newgate Farm, who was sold for $700,000 to China Horse Club, Newgate, Go Bloodstock and Trilogy.

The rig is from the Bradbury Luck mare Skate To Paris, who won seven races including the Listed Brisbane H.

What is a rig?

The term 'rig' is transferable with ridgling or cryptorchid. Essentially, all terms described a male horse with one or both testicles undescended. Rigs can give the appearance they are geldings with lack of visual presence of testicles. However, a rig still produces testosterone and will behave like a stallion. A rig is capable of being fertile and getting a mare pregnant.

Rigs are formed in the male foetus, the testicles initially form next to the kidneys, but as the foal develops the testicles move out of the abdomen through the inguinal canal and into the scrotum. However, if the testicle doesn’t reach the scrotum (undescended), it can remain in the abdomen or in the area of the inguinal canal or groin under the skin.

Boomer backs move

Craig Rounsefell, of Boomer Bloodstock (FBAA), serves as President for the Federation of Bloodstock Agents Australia (FBAA). He shared with The Thoroughbred Report the initiative by Magic Millions has been a full-circle moment after the FBAA pushed hard for the feature, “The disclosure of rigs, introduced by Magic Millions at the Gold Yearling Sale this week, was welcomed by all the members of the Federation of Bloodstock Agents Australia (FBAA).

“It was one of a few points the FBAA had been pushing for with the sale companies, given the feedback from our members and their clients.

“In my opinion, the more transparency there is in a transaction the better the outcome for all parties and the higher the likelihood of repeat business. As we know, being a rig will not stop a yearling from becoming a good racehorse nor necessarily a stallion in the future, although it is a condition that buyers should be made aware of as there are implications for insurance, etc.”

FBAA universally support

Fellow Federation of Bloodstock Agents Australia board member William Johnson of William Johnson Bloodstock (FBAA) said it was unusual in global terms for this to have not been previously disclosed.

“I have often wondered why American sales companies disclosed this information, yet Australia lagged behind with no formal publication of a ‘colt's’ testicle composition.

“The FBAA are working hard to ensure buyers are disclosed as much information as possible from both sales companies and vendors, and this is yet another step in the right direction - well done to Barry Bowditch and his team for setting the pace.”

Neil Jenkinson, who is also a member of the Federation of Bloodstock Agents Australia said, “It has been something the Federation of Bloodstock Agents Australia have been pushing for a couple years.

“I’d love to think that we could have the dream of racing colts and we get a stallion, but the reality is the horses we’re buying are more than likely going to be racing as geldings. All in all, it makes little or no difference to me as a buyer. However, I think any transparency or anything you can add is helpful.

“The main market it would affect would be those buyers sourcing potential stallion prospects. It’s funny, since Magic Millions announced it, the most interesting thing is owners seeing it on the websites and ringing me to ask what a rig is! I’ve had to answer at least 35 times what a rig is and what effect that has and should I not buy because it’s a rig.”

Owner most important from Price perspective

Victorian-based trainer Mick Price, who trains in partnership with Michael Kent Jnr at Cranbourne, was strong in his endorsement ‘that transparency can only be a good thing.’

“We need to look after the end-user and whatever can be supplied to help them make informed decisions and stay in the game is of benefit,” Price said.

“The idea of disclosure (of) rigs is helpful, but you can still choose whether to use it or not to use it. Does it affect the price? I would think those rigs fall outside of the standard colt buyer syndicates, so they will be discounted but I don’t think it matters because the ultimate aim is to look after the end-user and in doing that the industry is better off.”

Price was asked about the potential difficulties in training a rig and why buyers could avoid them: “In the context of what we spend on training fees the cost of procedure to geld a rig is not a great amount but a lot of times it affects temperament.

“Because a testicle that is in the abdomen sits at a higher temperature and creates a different form or level or testosterone and sometimes your rig can be a more frustrated individual, I have found, and this is why they end up getting gelded.

“I just think if it benefits the end-user, it’s a great idea.”