Buoyant trade carried through to Book 2 of the Magic Millions Perth Yearling Sale, where a colt by Yarradale Stud's Gingerbread Man provided the highlight at the Swan Valley complex when selling to Peter and Luke Fernie for a session-topping AU$190,000 (US$134,900, AU$1=US$0.71).
The second session built strongly on last year's figures, with improved returns across most key metrics reflecting renewed buyer confidence.
A total of 133 yearlings sold at a clearance of 85%. The gross finished at AU$6,358,500 (US$4,514,535), up 31% year-on-year while the average climbed to AU$47,808 (US$33,943) an increase of 19% and the median weighed in at AU$35,000 (US$24,850), a 16.5% rise.
Magic Millions managing director Barry Bowditch said the results reflected a market that found strength from both interstate participation early and strong local support through the latter stages of the sale.
"It's been a sensational two days," he told ANZ News. "Obviously we went in with a little bit of trepidation. Leading into the sale, we knew a couple of the bigger players may not play their part as big as they had, but I think the market on a whole stepped up.
"I thought yesterday the interstate and international participation was almost double what it was the year before and that really made up for any difference we had here in the local market.
"But then today, I felt like the locals really stepped in and bought their quota of horses and to have the average up close to 20% on Day 2 from last year and a clearance rate is really acceptable at 85% and the gross is up. It's record-breaking so it's an outstanding result for the state."
Bowditch noted the depth at the top end of the market as a key driver of the session's momentum, with a significant increase in six-figure results compared to 12 months earlier.
"I think on top of that, I think we had nine, six-figure horses on Day 2 last year and 16 today. That's a genuinely good increase. It just shows when you've got the right horse, there is an intense appetite to play on those horses and that was evident all through today. Quality horses were well sought after.
"When you think over the two days we're clearing basically 86%, it just shows that the vendors here in the west are very willing to meet the market. It is a genuine real feel and the vibrancy over here is big, it can't be underestimated. It's a great place to come and it's something we look forward to building on, off the back of this year, because it's a great platform to have these guys reinvest in better stock and continue to thrive here in the west."
