Outstanding Magic Millions Tasmanian Sales Results

Thursday 18 February 2016

The 2016 Magic Millions Tasmanian Yearling Sale in Launceston today (18 February) has grossed $2.32 million ($1.54 million in 2015).

The top price of $115,000 was paid for an Armidale Stud horse. The average price of 100 lots sold was $23,250.

Magic Millions Managing Director Vin Cox said he was delighted with the results.

“We thought we could grow this sale even further than the massive gains from last year, but the results today are out of this world,” he said.

“The average price is up 34 per cent and the gross is up a massive 51 per cent from last year.

“The growth in two years has been 77 per cent and 133 per cent respectively.

“With these sorts of numbers the Tasmanian breeding industry has a strong platform and confidence to go forward.”

Tasracing chief executive officer Eliot Forbes said the yearling sale’s results were simply outstanding and a provided a timely confidence boost for the industry.

“There was strong interest from interstate and international buyers who were attracted to the state by the quality of the bloodstock available here,” he said. “The Tasmanian breeding and racing industry should be well pleased with these results.

“It provides a real confidence boost for the industry at a time when the national attention is focused on the state through the Betfair Exchange Tasmanian Summer Racing Carnival.”

Dr Forbes said the sale was jointly organised by Magic Millions, Tasracing and Tasbreeders.

“All involved in organising the sale should be congratulated,” he said.

“Significant time and effort is committed to events such as this. The results achieved today demonstrate why such a commitment is important.”