It was hard work at the
“best sale ever recorded at Magic Millions.”
A hot market where prices soared as high as the temperatures but with patience and a true knowledge of value as the primary tools to defend against the advancing prices,
our team at Dynamic Syndications worked hard to claim 12 of the best valued yearlings on offer at the 2018 Magic Millions Sales.
Without doubt the sale was a success in every aspect and deserved to be, after a wonderful catalogue of the best types of yearlings we had ever reviewed in one sale on the Gold Coast.
Such was the quality, we anticipated the market would be strong and we were not surprised by its overall rocketing prices.
After 7 days of physical inspections leading-into kick off, we had a record number of 135 horses that passed physical inspections by our veterinarian Dr. Tim Roberts which subsequently whittled down to 112 after reading the x-rays.
To walk away with 12 yearlings from the 112 fully vetted and passed yearlings (10.7%) is self-explanatory - we bid and lost out on 100 lots that we considered overpriced. Simply we set our own ceiling price and bid up to that level and no more. We will never pay overs for any horse.
It would have been easy to get carried away with the hype that was replacing sound judgement and horse-husbandry fundamentals, as there was at times, what seemed to be a an illogical, panicked scramble to get set for yearlings.
We shook our heads in disbelief many times during the sale days as some of the yearlings sold at ridiculous levels and others that had failed basic conformation, some having legs like corkscrews, others were midgets no bigger than a pet Labrador, some looking more like camels or yaks whilst others had x-rays that looked similar to Swiss cheese, were bringing prices akin to telephone numbers.
We remain astounded how people would contemplate bidding on those individuals, let alone writing a cheque to own them.
Oh the joys of an auction !
We haven’t seen the industry this strong before and it’s reflective against a backdrop of a sound and confident economy, aligned with an industry offering massive prizemoney returns.
However, experience teaches many things and in our industry, it’s no different.
With hard work and attention to detail, along with an in-depth knowledge of the market valuations of thoroughbreds resulting from being a long-standing member of the Bloodstock Agents Federation of Australia, the Dynamic Syndications team know what horses should be worth and what ceiling prices should be applied.
It certainly wasn’t easy shopping. Swinging and missing at 100 yearlings is deflating however, we walked away at the close of the 2018 Magic Millions Yearling Sales having claimed 12 of the highest quality yearlings knocked down to Team Dynamic, for the best value, which we can now pass onto our owners.
In total we had a total spend of $1.45 million over 12 lots for a two-sale average of $120,833.
Dynamic Syndications finished in the Top 10 Buyers by Total Lots Purchased in both Book 1 and Book 2.
We secured 9 yearlings from Book 1, Sessions 1-4 and we secured another 3 yearlings from Book 2, Session 5.
In Book 1, Sessions 1-4, our 9 purchases totalled $1,235,000 with an average of $137,222 and a Median of $140,000 against a sale with an average of $228,000 and Median of $170,000
In Book 2, Session 5, our 3 purchases totalled $215,000 with an average of $71,666, and a Median of $65,000 against a sale average of $66,690 and a Median of $50,000.
The Book One sale rounded out with a gross of almost $156 million, over $22.6 million higher than last year. The average soared to exactly $228,000 while the clearance rate was a record equalling 89 per cent. The previous record was set back in 2008.
The momentum carried through to Book 2 Session 5, which was to be expected on the back of the record breaking Book One sale. Over $10.5 million was traded on 158 lots to sell at a record average price of $66,690 and a record clearance rate of over 84 per cent.
2018 Book 1: Sessions 1-4 (2017)
Lots Catalogued: 853 (816)
Lots Sold: 684 (649)
Lots Passed In: 87 (100)
Lots Withdrawn: 82 (67)
Sale Aggregate: $155,952,000 ($134,292,500)
Top Price: $2,000,000 ($1,300,000)
Average Price: $228,000 ($206,922)
Median Price: $170,000 ($160,000)
Sold %: 89 (87)
2018 Book 2: Session 5 (2017)
Lots Catalogued: 209 (214)
Lots Sold: 158 (160)
Lots Withdrawn: 20 (15)
Lots Passed In: 31 (39)
Sale Gross: $10,537,000 ($10,201,800)
Average Price: $66,690 ($63,671)
Top Price: $280,000 ($260,000)
Median Price: $50,000 ($45,000)
Sold %: 84 (80)
Sessions 1-4 Review: Dynamic Syndications purchased 9 Lots:
Lot 18 MEDAGLIA D’ORO x LADY LYNETTE Brown Colt for $175,000 (Baramul Stud)
Lot 191 REDOUTE’S CHOICE x PRETTY PINS Bay Colt for $160,000 (Arrowfield Stud)
Lot 195 DEEP FIELD x PRINCESS MARIZZA Bay Filly for $100,000 (Newgate Farm)
Lot 217 SMART MISSILE x RAHY STORM Brown Colt for $90,000 (Newhaven Park)
Lot 225 EXCEED AND EXCEL x REAL QUALITY Bay Colt for $150,000 (Element Hill)
Lot 278 EXCEED AND EXCEL x SE SAUVER Chestnut Colt for $180,000 (Kia Ora Stud)
Lot 638 OLYMPIC GLORY x COVERTLY Bay Colt for $120,000 (Arrowfield Stud)
Lot 685 MORE THAN READY x ELAN GRENADINE Bay Colt for $140,000 (Vinery Stud)
Lot 697 WANDJINA x ESKIMO QUEEN Brown Colt for $120,000 (Kitchwin Hills)
Session 5 Review: Dynamic Syndications purchased 3 Lots:
Lot 876 RUBICK x BALLOONS Chestnut Colt for $50,000 (Kenmore Lodge)
Lot 900 PIERRO x CONFER Bay Colt for $100,000 (Baramul Stud)
Lot 1019 EXCELEBRATION x POLITE Bay Filly for $65,000 (Coolmore Stud)
Prices have been determined on each of the horses available for syndication and documents are being prepared for submission to Racing NSW as Lead Regulator for approval. Once approval is given shares in each of the horses will be available.
Catalogue Pages of our 12 Dynamic Purchases:
