Extreme Choice effect lifts Magic Millions National Yearling Sale to new heights

Cover image courtesy of Magic Millions

The trend of rising aggregates across the Australian yearling market continued at the 2026 Magic Millions National Yearling Sale.

While four yearlings by Extreme Choice played a significant role in pushing up the top end of the market, they do not tell the entire story. With a 75% clearance rate, a sharp increase in six-figure yearlings and more than $12 million spent, the sale demonstrated there is still plenty of confidence in the market.

The four yearlings by Extreme Choice accounted for $1.43 million in sales, helping lift the Magic Millions National Yearling Sale aggregate by $2.025 million compared to the previous year. Across the entire 2026 Australian yearling sale season, the aggregate reached $551.6 million, up from $540.3 million in 2025.

However, the story at the Magic Millions National Yearling Sale extends beyond the influence of one stallion.

A total of 35 yearlings sold for $100,000 or more, a substantial increase from 21 in 2025 and 17 in 2024. The clearance rate at the close of trade was 75%, slightly down from 77% the previous year.

With a similarly sized catalogue and a comparable clearance rate, four more yearlings were sold in 2026 (256) than in 2025 (252). The higher aggregate, with buyers spending more than $2 million extra year-on-year, pushed the average price from $41,000 to more than $48,000. The median remained unchanged, highlighting the influence of the stronger top end.

“We sold 35 horses for above $100,000, which was a strong increase on last year. I think 90 horses went to overseas parties - and that's big numbers,” said Magic Millions Managing Director Barry Bowditch.

Table: Magic Millions National Yearling Sale statistics over last five years

Later sale, later birth date

The sale appears to be carving out a niche for later-born foals, with 13.6% of the catalogue born in November or December, down from 19 per cent in 2025.

“I think this sale has a real future. It's a genuine alternative for horses that need time or they're late foals,” Bowditch said.

December foals achieved an outstanding average of $260,000, although that figure was heavily influenced by the Extreme Choice cohort. Three of the four yearlings by the sire were born in December.

Across the sale, seven December foals were catalogued and five were sold. The three December-born Extreme Choice yearlings realised $580,000, $400,000 and $250,000 respectively.

Outside that group, the market continued to favour earlier foals. August-born yearlings recorded 53 sales at an average of $46,000, compared with an average of $38,900 for the 26 November-born lots sold.

For the majority of buyers, month of birth still provides a slight advantage in the yearling market, even at a sale held this late in the season and marketed as an opportunity for later-born foals.

Last year's sale featured three Northern Hemisphere-bred yearlings by Extreme Choice, which averaged $193,000. This year's Southern Hemisphere-bred quartet averaged $357,500.

The difference highlights the stronger market for horses bred to local timing, even among December foals, while also reflecting the broader rise in demand for the progeny of Extreme Choice.

Table: Month of birth of 2026 Magic Millions National Yearling Sale sold lots

Quartile analysis highlights market shifts

The presence of the four Extreme Choice yearlings had a noticeable impact on the top of the market.

The average price of the top quartile rose from $99,000 in 2025 to $132,000 in 2026, the highest figure recorded by this sale in the past five years. That represented an 8 per cent increase on the previous peak of $121,000 in 2022.

The remainder of the market also improved on 2025, although prices have yet to return to the levels achieved in 2022, which remains the strongest year for the second, third and fourth quartiles over the past five years.

The second quartile has been remarkably stable, easing just 2% from $37,500 in 2022 to $36,900 in 2026. The lower two quartiles remain below their 2022 highs but recorded gains on 2025.

Table: Magic Millions National Yearling Sale Quartile analysis

International demand remains a major force

The 2025 sale produced a record level of international participation, with 41 per cent of sold lots heading to New Zealand or Asia.

That figure eased marginally to 37 per cent in 2026, but remains well above the 20 per cent recorded in 2022.

The investment by Magic Millions in building relationships across Asia is reflected in the data, with buyers from five different Asian nations represented in this year's results.

Among international buyers, the Philippines purchased the highest number of yearlings, securing 39 lots at an average of $16,100. Hong Kong-based buyers acquired 17 yearlings at an average of $63,700, underlining the continued demand from that market for horses with clean x-rays and the right pedigrees.

NSW buyers remained the strongest domestic force, consistent with previous years. They purchased 46 yearlings at an average of $84,200.

By volume, however, NSW participation has declined significantly over the past five years, falling from 105 purchases in 2022 to 46 in 2026.

Over the same period, international buyers increased their presence from 65 lots purchased in 2022 to 95 in 2026, further reinforcing the growing global influence on the National Yearling Sale.

Table: Buyer locations by average spend