Strong domestic and international competition helped the average price rise over 20 per cent as the 2017 Magic Millions Gold Coast 2YOs in Training Sale came to a close on Wednesday.
The first to hit $280,000 was Lot 232, the bay or brown colt by Love Conquers All from Shakeva presented by Seymour's Network Bloodstock was purchased by Lucky Owners Pty Ltd.
The good looking youngster was pin-hooked for $26,000 through Andrew Williams Bloodstock for Network's David Bourne at the Gold Coast March Yearling Sale.
"It was an outstanding result. When you get here and realise there is a lot of interest in the horse your expectations rise a little but probably not to that extent," Bourne said.
"Andrew was up here at the March sale and did a shortlist for me and I then told him the ones that I fancied and went from there."The other big seller on the day was Lot 245 - Woodpark Stud's Smart Missile-Snowy World colt (pictured) who was purchased by Hong Kong's Pato Leung.
The fastest breeze up performer from the Warwick Farm session in Sydney, the Smart Missile colt is from an unraced Spinning World sister to stakes winner Torah.
All up over the two day sale over $10 million was given for 170 lots sold at an average price of $59,332 - up over 20 per cent on last year's corresponding average. The clearance rate sits at 70.3 per cent - a figure set to rise in the next 24 hours with more private sales being negotiated.
"The sale didn't quite end as strong as we had hoped," Magic Millions Managing Director Vin Cox said. "In all it's been a relatively solid sale."
"Going on leading buyers by jurisdiction Hong Kong was on top with 24 horses at $2.6 million while Queensland was next at 35 lots for $1.6 million which is a fantastic result for the Queensland thoroughbred industry."
"Singapore were again very strong with 19 horses for $1.25 million and Thailand came in with eight horses at $1.1 million - those (Thailand purchases) will ultimately race in Singapore."
"We're very happy with the buying bench we had here at the Gold Coast. There was a good cross section of buyers and it's been a very reasonable sale all round," Cox added.
To view the 2YOs in Training Sale results and to make an offer on a passed in lot click here. To view a video review of today's sale click here.
Meanwhile, the Spring Racehorse Sale was conducted following the 2YOs in Training Sale with 26 of 27 lots offered being sold for a gross of $444,000.
The top seller among the racehorses was the Godolphin stakes winner Trenchant who was purchased by Shane Morrissy for $85,000. To see the results for the racehorse sale click here.
2YO SALE STATISTICS
(2016 in brackets)
Lots Catalogued: 295 (346)
Lots Sold: 170 (212)
Lots Passed In: 73 (80)
Lots Withdrawn: 53 (54)
Top Price: $320,000 ($450,000)
Average Price: $59,332 ($48,910)
Median Price: $40,000 ($35,000)
Sale Gross: $10,086,500 ($10,369,000)
Sold %: 70.3 (73)
(ranked by total spend)
$700,000 - Vichit Pongsri-iam - 5 lots
$555,000 - Ultra T'bred Racing/TK Racing - 4 lots
$430,000 - Krit Chittaseni - 4 lots
$370,000 - Manfred Man - 3 lots
$292,500 - Siah Mong Lim - 5 lots
RACEHORSE SALE STATISTICS
Lots Catalogued: 32
Lots Sold: 26
Lots Passed In: 1
Lots Withdrawn: 5
Top Price: $85,000
Average Price: $17,077
Sale Gross: $444,000
Sold %: 96.3