Magic Millions

From Wikipedia, the free encyclopedia
Jump to: navigation, search

Magic Millions Sales Pty Ltd is an Australian Thoroughbred racehorse auction house which holds a sale each January at Surfers Paradise in Queensland. Eight days of auctions are joined by a major Thoroughbred horse race meeting where all ten races are only open to horses who were bought at auctions staged by Magic Millions over the previous years. The race events includes the Magic Millions Classic for two-year-olds.

The Magic Millions is considered to be a top level auction in global racing circles, with buyers from Hong Kong, Japan, Europe and the Middle East. The Godolphin stables, owned by the ruling family of Dubai, have been prominent buyers at the auction in recent years. The record for an individual horse purchase was made by Patinack Farm twice at the 2008 Magic Millions where that team spent $2.2 million on two Redoute's Choice colts - one a three quarter brother to Dance Hero and one a three quarter brother to their stable star Casino Prince.[1]

In the late 1990s the auction house was almost bankrupt. It was bought by three business men, including the Australian retail entrepreneur and horse breeder Gerry Harvey and Australian advertising entrepreneur John Singleton. Both set about reviving the fortunes of the auction.[2] As of 2015, Magic Millions is co-owned by Harvey and his wife and business partner, Katie Page.[3]

Better funding, advertising, networking and public reportage have led to the Magic Millions growing considerably in national and international stature. Also, the recent growth of the Gold Coast region may have helped. The international profile of the auction has also been helped by the recent development in the breeding world of 'shuttle stallions' - the practise whereby the very top stallions in the world are now flown between Australia, Asia, Europe and the US to be put to service. The end result of this is that whereas ten years ago only Australian champions would have bred progeny on offer in Australia, there is now just as likely to be the offspring of a Kentucky Derby or Prix de l'Arc de Triomphe winner as that of a Melbourne Cup champion.

Besides Gai Waterhouse, other famous horse trainers such as Lee Freedman and David Hayes are patrons of the sales.

References[edit]

  1. ^ Tony Arrold (31 March 2008). "Buyer whitewash at Magic Millions sale". The Australian. Retrieved 30 March 2011. 
  2. ^ "Magic Millions Sales and Carnival". Retrieved 30 March 2011. 
  3. ^ Korporaal, Glenda (20 February 2015). "50 most powerful women in business: 4. Katie Page". The Australian Business Review. Retrieved 20 September 2015. 

External links[edit]