‘The whole thing feels more vibrant and dynamic’ – showtime on the Gold Coast as major players descend on Magic Millions
Magic Millions certainly know how to put on a show. Festivities during the Gold Coast Carnival range from a quiz night to a celebrity polo match, sportsmans’ lunches, an exhibition gallop on the beach and a golf day.
And that’s not to mention a feature race meeting with prize-money worth a colossal $13.25 million.
However, for the next few days this corner of Queensland will become the centre of the bloodstock universe as the more serious matter of the Gold Coast Yearling Sale gets under way.
Intermittent rain replaced blazing sun for the final day of inspections on Monday as a global gathering of major players conducted the crucial final steps in their due diligence.
The home team included the iconic Gai Waterhouse, who made her way between barns on her customary golf buggy, while the likes of Chris Waller and Ciaron Maher have also been busy working the beat in recent days.
A host of major investors were also in town, not least Zhang Yuesheng. The principal of Yulong Investments’ growing empire had been a notable absentee from the Australian scene during the latter half of last year, but the Chinese billionaire quelled rumour about his whereabouts with his presence on the Gold Coast.
With 69 entries in the catalogue, his Yulong operation also presents one of the largest consignments at this year’s sale.
Coolmore was another operation with a sizeable delegation on deck on Monday, and Tom Magnier credited Magic Millions co-owner Katie Page-Harvey with developing a spectacle that not only drives momentum for the sale, but the wider racing and bloodstock industry too.
“What Katie has created is phenomenal,” said Magnier, whose son Charlie took part in the Magic Millions showjumping event on Sunday. “It’s not just a horse sale, it’s not just a race meeting, it’s a carnival. They’re getting people here from all over the world. Prize-money here in Australia is very good at the moment and racing is very healthy; you only have to look at the crowds of people going racing here all the time.
“Katie really has created a carnival that everybody wants to come to. This is on the front page of every paper during the week, you have families coming up here and that helps get the kids interested, it gets everybody involved. It’s a great week.”
At last year’s event Magnier signed for five Gold Coast yearlings at an outlay of $6m, while the Coolmore draft also contained the sale’s top lot, the Home Affairs (I Am Invincible) filly out of champion three-year-old Sunlight (Zoustar). Japanese trainer Mitsu Nakauchida secured the blue-blooded youngster on a bid of $3.2m.
Magnier is looking to get among the buyers during the four premier sessions of this year’s sale, as well as overseeing around 40 yearlings in this year’s Coolmore consignment, which is comprised predominantly of home sires’ stock.
“We’re selling a lot of horses this week,” he said. “There’s some lovely Justifys around the place, Home Affairs is starting to kick goals now too, and I was just talking to somebody there who was saying there’s some nice first crop Best Of Bordeauxs around the complex.
“There’s some nice horses around this week and our clients have supported us well and given us some nice ones to sell, so I hope they get rewarded. I think the market should be good across the board.”
He added: “Obviously we have the colts fund that we set up and we’ve had a bit of luck there getting a couple of stallions into the barn in Home Affairs and Shinzo, Switzerland and Private Life, so that’s going pretty well. Fair play to Magic Millions for getting all the people here. It’s up to the rest of us now, we’ll just need a bit of luck.”
Magnier added that while there was plenty of action expected on the Gold Coast, his thoughts were also with those impacted by the bushfire crisis that has wrought havoc across Victoria.
“We have to be mindful that there’s a lot of people having a very tough time in Victoria at the moment,” he said. “They’ve had a very bad week, so we’re very conscious that while we’re all up here having a good time on the Gold Coast, we’re bearing them in mind. They’re going through a tough time but we’re all here to help anyone who needs it.”
A contingent of younger European agents have ventured to the southern hemisphere, including BBA Ireland’s Adam Potts, Fernando Laffon, Jamie Piggott and Sam Haggas.
A notable international presence also included a team from Japan’s Northern Farm, US agent Ramiro Restrepo, Frenchman Arthur Hoyeau and Magic Millions regular David Redvers.
“I think it’s one of the weeks of the year in the bloodstock world,” said Redvers. “There’s a great buzz and excitement around the whole thing and they put on a hell of a show. It has a festival feel to it all, which is brilliantly orchestrated by Katie [Page-Harvey] in particular, and there’s a great bunch of horses here too. You have the first opportunity to see the best of the Australian crop.
“Other sales companies could take a close look at how Magics look after their clients, particularly their internationals, who are most definitely made to feel that they’re very special and welcome. That’s part of why people come back year after year.”
Redvers stressed that it is not just the hospitality that makes Magic Millions so appealing, however, with the dynamics of the Australian bloodstock market presenting a particularly broad range of opportunities for those looking to invest.
“One of the things about the Australian market is that the vast majority of their good horses come to public auction,” he said. “For example, if you’re buying for a colts partnership in particular you know you’re not just looking at 40 per cent of the best horses in each year’s crop, you’re looking at 90 per cent. The opportunity is there and year after year, the best horses are coming out of these sales.
“These sales down here can feel a little bit like a futures market. If you see a horse that you really love back in Newmarket or Keeneland, you know you’re not going to have a chance of buying the majority of them. Whereas here, if you happen to align with a trainer, you can take ten per cent, which makes the whole thing feel much more vibrant and dynamic.”
As one of the more seasoned visitors, Redvers’ involvement now reaches across a range of different Australian bloodstock interests.
“I’ve been coming to this sale for the last 15 years,” he said. “We do a bit of pinhooking down here, we’re involved in the colts partnership with Qatar Racing and Ciaron Maher, and we’ve had some lovely fillies out of these sales with people like Rosemont as well. Widden is our major partner down here though and we’ve really enjoyed working with Antony [Thompson] and the team there.”
The international flavour is not confined to the prospective purchasers present at the sale.
The 1,221-lot catalogue features yearlings by blue-chip Australian stallions such as I Am Invincible (Invincible Spirit), Snitzel (Redoute’s Choice), Written Tycoon (Iglesia) and Zoustar (Northern Meteor), as well as the likes of international stars Baaeed (Sea The Stars), Blame (Arch), Kingman (Invincible Spirit), Lope De Vega (Shamardal), Night Of Thunder (Dubawi), No Nay Never (Scat Daddy) and Siyouni (Pivotal). There are also a dozen lots by Frankel (Galileo).
Selling begins on Tuesday at 11am local time.