A good, athletic walk: What influences syndicators buying at the Gold Coast?

Cover image courtesy of Magic Millions

There's something for everyone on the Gold Coast next week, so ahead of the 2026 Magic Millions Gold Coast Yearling Sale, we spoke to six syndicators about what guides their purchasing decisions and how the world of syndication has evolved in recent years.

In the first half of this two-part series, the syndicators discuss what grabs their attention in a yearling and the buying process itself.

1. What are your must-haves in a yearling?

Joe O’Neill, Prime Thoroughbreds: “They must be athletic, that's above everything else.”

Jason Abrahams, Champion Thoroughbreds: “It all really depends on whether or not the yearling is in budget, but I do look for races on the female pedigree that the yearling looks like they might suit. If the page is full of sprinting black-type, then I expect the yearling to look like a sprinter.”

Wylie Dalziel, Dalziel Racing: “First and foremost, we look at physical type over pedigree.”

David Ellis CNZM (BAFNZ), Te Akau Racing: “They must be the type of yearling that will develop into an athlete, first and foremost. I have always said that what they look like on sale day is irrelevant. It is what they look like on the day you leg a jockey up on them for a race. They can change dramatically in between, and it is the people who can envisage how they will progress that win in this game.”

Nathan Bennett, Bennett Racing: “They have to have a good, athletic walk.”

Jamie Walter, Proven Thoroughbreds: “It is more about what I can’t have in a yearling, than what I must have, because I find with the must-haves, you have to compromise anyway. I don’t like something that has no scope to it, I don’t like piggy eyes, and obviously, like everyone else, I don’t want one that vets poorly or has terribly incorrect front legs.

"The positives and negatives are all thrown in a melting pot, and sitting on top of all of those components is the price as well. You might end up buying a horse that is your 24th seed and the reason for that is that he or she is very good value.”

2. When a yearling walks out of the box, what do you look at first?

O’Neill: “How well balanced it is.”

Abrahams: “I look at the eyes first - I don’t really like a wall eye, even though we have had some success with horses with them. I like a big, full eye, and big ears, so if a yearling has a nice head, then we can work from there.”

Dalziel: “If it’s hot and humid and late in the day, they might be tired and might not walk out of the box well, so I wait for the parade, and then I look at how the horse moves. Does he want to go places? Has he got a bit of purpose about him? Has he got a good action and a good attitude?”

Ellis: “I look at the head first, the ears, and then the shoulders.”

Bennett: “It varies, but usually I try to wait until they stand up in front of me before I start making any judgments, and then I begin at the front of the horse and watch it walk. You have to give him a chance to come stand up properly. He might come out of the box feeling really good, or he might come out slowly.”

Walter: “In layman’s terms, I start from the top and work down. I look at the head, closely followed by the front legs, and then how they move.”

3. Are there any vendors who you like to buy from, or whose stock you always have to see?

O’Neill: "I always like to look at the horses from Yarraman Park Stud and Vinery Stud. Emirates Park also have always got nice horses."

Abrahams: “We do a lot of work looking at the success rates of farms and the strike rates of their graduates. I have had a lot of success buying from Yarraman Park Stud and Bhima Thoroughbreds in the past, and also Newgate Farm and Arrowfield Stud always have good results.”

Dalziel: “We look at all of them, because you have to. Good ones can come out of any draft. We have had great success out of Arrowfield Stud, they are obviously great vendors, and Newhaven Park Stud breed really tough horses, we have had success with them too.”

Ellis: “No, I like to look at every draft.”

Bennett: “We just look at the horses for what they are, and if they end up on our list, that stud ends up with us buying one of their horses.”

4. Which first and second season sires are you most excited about?

O’Neill: “I am on the fence about some of the first season sires, but looking at the second season sires, it is hard not to be impressed by Sword Of State. I think Tiger Of Malay could be the sneaky one, he has had a couple of nice ones come out so far."

Abrahams: “I am interested in Daumier. He’s by Epaulette so he could be quite interesting, and I know Olly (Tait) would have given him some nice mares. I also think In The Congo’s first foals could be interesting, he was very fast, and I look forward to seeing the Profondos. I remember him selling here as a yearling, he was a great sort, and I believe Windsor Park has four of them in the sale.”

Dalziel: “Stay Inside is one I quite like, we have a couple of those that go good. From the first season sires, I like the Jacquinots. If we find one at a nice affordable price, we will probably take a punt on one of those.”

Ellis: “Sword Of State, Noverre, and Home Affairs are the three on my radar. I bought Sword Of State as a yearling at the Magic Millions sale, and I will be looking for that type among his offspring.”

Bennett: “I’m definitely looking forward to the Anamoes, and the Sword Of States look as good as the first crop.”

Walter: “Like everyone, I am interested in the Anamoes. I think he is the prototype for a top Australian stallion, having been a very good 2-year-old, even better at three, and outstanding at four, over a variety of distances. I am very interested in him, but he will be well found and expensive.”

Gallery: The first season sires exciting syndicators at the 2026 Magic Millions Gold Coast Yearling Sale

5. Whose opinion do you respect the most when looking at yearlings?

O’Neill: “Bill Mitchell (Mitchell Bloodstock).”

Abrahams: “I listen to my trainers, as they are going to have to train the horses I buy. I also listen to the Magic Millions and Inglis bloodstock teams. They will have seen the yearlings three or four times before they get to the sale and will have a good handle on them, so if I have any queries, I will go to them.”

Dalziel: “Peter Moody.”

Ellis: “Joe Walls. He was chairman of New Zealand Bloodstock and he was with them for 50 years, he has a wealth of knowledge.”

Bennett: “My vet, Dr Ross Teitzel.”

Walter: “I essentially buy with my trainers because I think if they are going to train what I buy for them, they need to like what they are training.”

6. What price point or qualities in a yearling sells the fastest?

O’Neill: "I like to buy between $75,000 and $100,000 as you can get a nice horse in that bracket. I bought Rubisaki for $85,000. Zany Girl, the good filly I have in Tasmania, was only $65,000 and she's a 2-year-old stakes winner. The Cunning Fox was only $34,000 and he's a very good jumper."

Abrahams: “Recent success for the sire can be very important. Farnan had a solid weekend so you can expect that people will be all over the Farnans next week. Ole Kirk also had a very good spring, so you can expect people to be very interested in them as well. It can make it harder to secure offspring of those stallions, as everyone’s looking at them.”

Dalziel: “I would say the $200,000 to $400,000 bracket sells the best. If you buy a really cheap one, people query why it was so cheap, and if you buy a really expensive one, it can be too expensive for your clients. We have clients at both ends of the scale, but that bracket sells the best.”

Ellis: “I find horses in the $200,000 to $400,000 bracket are easy to sell. The cheaper horses can be a little quicker to sell, but that bracket is good as well.”

Bennett: “Sometimes the higher priced ones sell better than the lower ones. The $100,000 to $160,000 seems to be the slowest selling bracket, for whatever reason, and a $400,000 horse will sell quicker.”

Walter: “What sells quickest is something that, on its pedigree, appears to be way cheaper than what it should be.”

7. How much do bonus schemes and race series influence your buying decisions?

O’Neill: "It's nice to have horses in those race series; I've won eight Magic Millions races and one Inglis race. So it's nice, but to be honest, I buy the horse before I worry about the bonus scheme."

Abrahams: “Both auction houses’ race series have their own positive factors. The Inglis one is good because you have a good chance of picking up $100,000 in a maiden, but on the flip side, the Magic Millions is such a good carnival and your horses can come back year after year in different races. There’s benefits to both. In terms of the breeding bonuses, they are good if you are buying to race in that state, and our owners do look for them because we try to target those races where we can make a bit more money. We then try to align the horses with stables where they are geographically suited.”

Dalziel: “We try not to let them influence our decisions. It’s very handy if you land one that has got all of the badges, but you try and look at the horse as a physical type first, rather than at the appeal of its bonus schemes.”

Ellis: “It doesn’t really come into the decision making process very much.”

Bennett: “The horse has to get on our list first. It’s all about the horse, the bonus schemes are just that - a bonus on top.”

Walter: “A good horse is a good horse, regardless of what scheme is attached to him. It doesn’t have a huge influence, unless I am buying for a trainer in a specific state, and then I might be more attracted to a state-specific bonus scheme. I’m not going to be more drawn to a QTIS horse if I am buying it for Joe Pride. Conversely, it’s more appealing if I am buying for Matthew Hoystead in Queensland.”

8. Do you buy differently depending on where the horse is likely to be trained?

O’Neill: “Not really, I buy the horses and then I allocate them to the trainers where I think they will best be suited.”

Abrahams: “It can play a major role in buying the horse, as often we have a trainer in mind before we purchase it. If it’s a QTIS horse, we will speak to a Queensland trainer before we bid.”

Dalziel: “Most of my trainers are Victorian-based. If we have a horse good enough for the Sydney and Brisbane carnivals, they will travel up there, but I don’t have trainers in those states right now.”

Bennett: “No, we buy the horse we like and then we match them to the trainer.”

Walter: “The budget tends to be a direct reflection of how a particular trainer is going for me and my horses. For example, I have had a lot of luck with Joe Pride over the last five years, so I am probably going to be keener to pay up for something he likes. But if the trainer and I really like a horse, we will find a way to build the budget to match it.”