A filly with an Inglis Easter pedigree was the shining light on Day 1 of an otherwise subdued Magic Millions National Yearling Sale, with the AU$750,000 (US$490,316, AU$1=US$0.6537) The Autumn Sun blueblood purchased by Hong Kong interests.
The most expensive filly ever sold at a Gold Coast National yearling sale and the second highest-priced overall—a Dundeel colt made AU$850,000 in 2019—the Arrowfield-consigned horse was knocked down to agent Denys Chan of Golden River Investments after a titanic bidding war.
The ninth living foal out of blue hen mare Bagalollies, the prized filly is a half sister to Hong Kong champion Werther and Australasian Oaks (G1) winner Toffee Tongue, as well as New Zealand group 3 winner Gobstopper and the grade 1-placed Milseain.
Glentree Thoroughbreds was the underbidder on the day's top-priced yearling, with stud manager Luke Simpson having been dispatched to the Gold Coast to bid on the filly for the Victorian operation's owner, Bruce Wilson.
After multiple parties threw down bids up to AU$400,000 on the daughter of The Autumn Sun, Chan and Simpson squared off in a drawn-out bidding duel, with Chan going straight from AU$660,000 to AU$700,000 in the hope of landing a knockout blow before eventually securing the filly at AU$750,000.
"She has got the perfect pedigree, a group 1 pedigree, and she is the one who caught my eye. I had to have her," Chan said May 30.
"With that pedigree and the type she is, I think she was worth that money every day. She is a great mover and she has a great mind. You could see her in the ring, she never panicked at all.
"The plan is for her to stay in Australia to race and hopefully, she's a group winner in the making."
Sydney-based Bjorn Baker is likely to train the filly on behalf of her new owner, the Hong Kong-based Cheng Keung Fai, whom agent Chan represents.
The Oct. 1-born foal, who was cataloged as Lot 1452, was initially going to be retained to race by her breeder, but they had a change of heart, prompting the filly to be the page turner of the National Sale catalog.
Jon Freyer of Arrowfield Stud, which consigned the filly, said: "She belongs to clients and they intended to keep her and race her and then there was a change of heart after the Easter sale had closed, so this was the last option.
"She's made her price, but she's a glorious filly and a magnificent page. She has got tremendous residual value, come what may."
Yesterday's trade was reflective of the downturn of the economy and the reduced demand for horses, particularly in the syndicator space, which has been evident all season.
The session began slowly as vendors attempted to adjust to buyer sentiment, with the clearance rate picking up throughout the day on what was the first of two "end of the road" sessions for the eastern state yearling sale circuit.
The 98 yearlings sold yesterday generated AU$4,529,500 ($2,961,183) in turnover, down 32% year on year. The average was AU$46,219 ($30,215), down 6%, while the median held firm at AU$30,000 ($19,612). The clearance rate improved to 56% after a sluggish start to the day.
Magic Millions managing director Barry Bowditch had forecast pre-sale that the yearling auction would prove difficult given the selectivity of the market, but even he admitted late Tuesday that the clearance rate was below his conservative expectations.
"Obviously, the clearance rate is disappointing at below 60%. It is never a sale that clears extraordinarily well, but I think motivated vendors who were willing to meet the market found, in most cases, buyers to sell their horses to, and in other cases vendors need to revise their reserves a little bit," Bowditch told ANZ Bloodstock News late Tuesday.
"We're at the end of a big yearling sale series and there's a lack of domestic participation here, but what is pleasing me is the traders and the international buyers who are here.
"There are buyers from many countries, and if a nice horse walks into the ring, you can get a huge result—in particular, the good filly (by The Autumn Sun) today."
Bowditch urged bloodstock investors to capitalize on the opportunities available in Wednesday's final session.
He said: "I think there'll be buyers who aren't here who will be looking at the results and thinking, 'I should be making offers on some of these passed-in lots,' and the buyers who are here are finding value and will be buoyed by today's sale and will come back looking to participate in the auction."
Day 2 starts at 10 a.m. (local time).
